| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Poor |
| Demographics | 28th | Poor |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1140 Clay Ave, Bronx, NY, 10456, US |
| Region / Metro | Bronx |
| Year of Construction | 1920 |
| Units | 54 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1140 Clay Ave Bronx Multifamily with Stable Occupancy
Neighborhood occupancy is strong and amenity access is deep, supporting durable renter demand according to WDSuite’s CRE market data.
This Urban Core location in the Bronx benefits from dense neighborhood amenities and consistent renter demand. Amenity access ranks in the top quartile among 889 metro neighborhoods and in the 99th percentile nationally for essentials like groceries, pharmacies, parks, and daily services, which helps support retention and leasing velocity for workforce-oriented units.
At the neighborhood level, occupancy is competitive among New York-Jersey City-White Plains neighborhoods and in the top quartile nationally, indicating a historically tight leasing environment. The surrounding area also shows one of the metro’s highest renter-occupied shares, signaling a deep tenant base and reinforcing multifamily demand resilience through cycles.
Within a 3-mile radius, demographics point to a growing tenant base over the next few years: households are projected to increase while average household size trends lower. This mix suggests more renters entering the market and supports occupancy stability. Median contract rents have risen over the past five years, while the rent-to-income ratio is elevated; investors should plan for thoughtful lease management and renewal strategies to balance pricing power with retention.
Home values remain relatively modest compared with many U.S. markets. While that can introduce some competition from ownership options, the area’s high renter concentration and dense amenities continue to underpin multifamily demand. School ratings are below national averages, which can affect family-driven demand, but proximity to jobs and services often anchors renter interest for smaller-unit product.
Safety metrics for the neighborhood sit below national averages. Compared with neighborhoods nationwide, the area falls in a lower national percentile for safety, and its crime rank is around the middle of the pack relative to 889 New York metro neighborhoods. Trends are mixed: violent incident rates have improved year over year, while property-related offenses have increased, based on WDSuite’s market tracking.
For underwriting, investors often emphasize enhanced lighting, access control, and resident engagement, and may reflect safety positioning with prudent expense assumptions and conservative lease-up schedules. Monitoring ongoing citywide and borough-level trends can help calibrate expectations as conditions evolve.
Major Manhattan-based employers within commuting distance support renter demand through diverse office, retail, and media jobs. The list below highlights nearby corporate offices relevant to workforce housing dynamics mentioned here.
- Disney ABC Television Group — media (5.36 miles)
- Loews — corporate offices (5.52 miles) — HQ
- Ralph Lauren — apparel & retail (5.59 miles) — HQ
- Estee Lauder — beauty & consumer goods (5.61 miles) — HQ
- Icahn Enterprises — diversified holdings (5.63 miles) — HQ
The asset is positioned in a Bronx neighborhood with tight occupancy, abundant daily-needs amenities, and a very high share of renter-occupied housing units. These dynamics support a wide tenant funnel and consistent leasing, while median rents have advanced over the past five years. According to CRE market data from WDSuite, neighborhood occupancy trends track above national norms and rank competitively within the New York metro, reinforcing expectations for stable operations.
Investor considerations include elevated rent-to-income ratios that call for careful renewal strategies, below-average school ratings, and safety metrics that warrant prudent operating assumptions. Even so, amenity density and proximity to major employment centers sustain demand for smaller-unit product and can underpin long-term cash flow, especially with targeted value-add and expense control.
- Tight neighborhood occupancy and deep renter base support leasing stability
- Top-tier amenity access (groceries, pharmacies, parks) aids retention
- Proximity to Manhattan employers underpins demand for workforce housing
- Risk: elevated rent-to-income and below-average school ratings require careful lease management
- Risk: safety metrics below national benchmarks suggest conservative underwriting