| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Good |
| Demographics | 24th | Poor |
| Amenities | 82nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1357 Boston Rd, Bronx, NY, 10456, US |
| Region / Metro | Bronx |
| Year of Construction | 1906 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1357 Boston Rd, Bronx Multifamily Investment
Stabilized renter demand in an Urban Core setting, with neighborhood occupancy trending above the metro median according to WDSuite’s CRE market data. Newer vintage for the area positions the asset competitively against older local stock.
Situated in the Bronx Urban Core, the neighborhood carries a B rating and ranks 390 out of 889 metro neighborhoods, indicating competitive positioning within the New York-Jersey City-White Plains region. Amenity access is a relative strength—grocery, pharmacies, parks, and restaurants benchmark in high national percentiles—supporting daily convenience and renter retention.
Neighborhood occupancy is above the metro median (rank 367 of 889) with a multi‑year uptick, signaling steady leasing conditions for nearby assets. The area’s renter concentration is among the highest in the metro (rank 31 of 889 for renter‑occupied share), which points to a deep tenant base and multifamily demand that is less dependent on ownership turnover.
Within a 3‑mile radius, households have increased in recent years and are projected to continue rising as average household size trends smaller—factors that typically expand the renter pool and support occupancy stability. While population growth has been mixed historically, forward‑looking estimates point to modest expansion, which should sustain baseline demand for well‑located apartments.
Home values register high on a national basis, creating a high‑cost ownership context that often sustains reliance on multifamily housing and can support pricing power when managed carefully. School ratings trail metro and national averages, so leasing strategies may skew toward residents prioritizing transit and job access over school performance.
Safety indicators compare below the national median, and the neighborhood’s crime positioning is not a core strength relative to peer areas in the metro. However, recent trends show year‑over‑year declines in both violent and property offense rates, indicating improvement rather than deterioration.
For underwriting, this suggests maintaining conservative assumptions on security, insurance, and operating protocols while acknowledging the positive direction of change. Comparisons should be made against similar Urban Core locations across the New York‑Jersey City‑White Plains metro to retain appropriate context.
Proximity to major corporate offices within roughly six miles supports a broad commuter renter base and can aid leasing stability. The mix below highlights access to media, retail, travel, and technology employers that align with workforce housing demand.
- Disney ABC Television Group — media (5.9 miles)
- Jetblue Airways — airline corporate offices (6.0 miles) — HQ
- Loews — diversified holdings (6.0 miles) — HQ
- Ralph Lauren — apparel & retail (6.1 miles) — HQ
- Estee Lauder — cosmetics & consumer goods (6.1 miles) — HQ
- Icahn Enterprises — investment holding company (6.1 miles) — HQ
- HRG Group — holding company (6.2 miles) — HQ
- IBM Plaza Atrium — technology offices (6.2 miles)
- Time Warner — media & entertainment (6.2 miles) — HQ
- Cognizant — technology & consulting (6.3 miles)
Built in 1993, the 20‑unit asset at 1357 Boston Rd is newer than the neighborhood’s average vintage, offering competitive positioning versus older stock while leaving room for targeted capital planning on systems and common‑area modernization. Neighborhood occupancy trends sit above the metro median and renter concentration is among the strongest in the metro, supporting depth of demand and potential leasing resilience.
According to CRE market data from WDSuite, local home values are elevated on a national basis, which typically sustains reliance on rental housing and can support pricing power when paired with prudent lease management. Neighborhood NOI per unit benchmarks near the middle of the national distribution, implying investors may benefit more from operational improvements and focused value‑add than from outsized market beta. Key underwriting flags include rent‑to‑income pressure and safety perception; both argue for conservative renewal and expense assumptions even as offense rates show recent improvement.
- Newer‑than‑area vintage (1993) provides competitive positioning with value‑add potential on systems and finishes.
- Above‑median neighborhood occupancy and deep renter‑occupied share support tenant demand and leasing stability.
- High‑cost ownership context reinforces reliance on multifamily housing, aiding pricing power when managed carefully.
- Mid‑pack neighborhood NOI per unit suggests upside via operational execution rather than market beta.
- Risks: affordability pressure (rent‑to‑income) and safety perception warrant conservative underwriting and active management.