| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Good |
| Demographics | 31st | Poor |
| Amenities | 80th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1345 Shakespeare Ave, Bronx, NY, 10452, US |
| Region / Metro | Bronx |
| Year of Construction | 2006 |
| Units | 39 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1345 Shakespeare Ave, Bronx Multifamily Investment
Neighborhood renter demand is deep and occupancy has been consistently high, according to WDSuite’s CRE market data, supporting stable operations for well-managed assets in this Urban Core pocket of the Bronx. Positioning around workforce renters and transit access tends to outperform similar Bronx submarkets when leasing discipline is maintained.
This Urban Core neighborhood shows strong usage of daily amenities that matter for renters: grocery, parks, and pharmacies are abundant by national standards, while cafes are relatively sparse. For an investor, that mix supports day-to-day convenience and resident stickiness even without boutique retail density.
Multifamily fundamentals are a relative strength at the neighborhood level. Occupancy is in the top decile nationally and has trended upward over the last five years, signaling durable absorption and limited downtime between turns. The renter-occupied share of housing units is very high (neighborhood tenure), indicating a large tenant base and steady demand for apartments; note this reflects neighborhood tenure, not property-level occupancy.
Demographic statistics aggregated within a 3-mile radius indicate households have been increasing while average household size edges lower, expanding the effective renter pool and supporting leasing velocity. Forward-looking projections point to modest population growth and continued household gains, which can sustain occupancy and reduce concession risk as new leases are signed.
Home values are elevated for the Bronx context, which generally sustains rental reliance and can aid lease retention as residents weigh ownership costs. Rent-to-income levels suggest some affordability pressure in parts of the area, so prudent renewal management and amenity-value alignment remain important for pricing power.
1345 Shakespeare Ave was built in 2007, materially newer than the neighborhood’s mid-century average vintage. That relative youth can be a competitive edge versus older walk-up stock, while still warranting capital planning for aging systems and selective renovations to meet current renter expectations.
Safety indicators here trail national norms, and the neighborhood ranks below the median among 889 metro neighborhoods. Recent data show year-over-year declines in both property and violent offense estimates, which is a constructive trend to monitor, but investors should underwrite with conservative assumptions and emphasize on-site management practices. All safety figures referenced are neighborhood-level, not property-specific.
Nearby employment centers include IT services, media, hospitality, and apparel corporate offices that help anchor renter demand through commute convenience: Cognizant, Cognizant Technology Solutions, Disney ABC Television Group, Loews, and Ralph Lauren.
- Cognizant — IT services (4.9 miles)
- Cognizant Technology Solutions — IT services (5.0 miles) — HQ
- Disney ABC Television Group — media (5.6 miles)
- Loews — hospitality (5.8 miles) — HQ
- Ralph Lauren — apparel (5.9 miles) — HQ
For a 39-unit asset delivered in 2007, the competitive set is largely older walk-up inventory, giving this property an edge on basic systems and curb appeal. At the neighborhood level, occupancy is strong and renter-occupied housing share is high, supporting a deep tenant base and lower expected downtime between turns. Based on CRE market data from WDSuite, amenity access is strongest in daily-needs categories (grocers, parks, pharmacies), which tends to reinforce retention for workforce renters.
Investor considerations include rent-to-income pressure in parts of the area and below-average school ratings, which call for disciplined renewal strategies and resident-experience investments. Safety metrics sit below national benchmarks but have improved year over year; underwriting should reflect conservative assumptions alongside active management. With selective value-add (unit finishes, common areas) and targeted expense control, the asset can compete effectively against older stock while remaining mindful of price sensitivity.
- Newer 2007 vintage competes well versus mid-century neighborhood stock
- High neighborhood occupancy and renter concentration support stable leasing
- Strong daily-needs amenity access aids retention for workforce renters
- Value-add potential through targeted interior updates and common-area enhancements
- Risks: affordability pressure, below-average school ratings, and safety metrics require conservative underwriting and active management