| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Good |
| Demographics | 31st | Poor |
| Amenities | 80th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1406 Merriam Ave, Bronx, NY, 10452, US |
| Region / Metro | Bronx |
| Year of Construction | 1922 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1406 Merriam Ave, Bronx NY Multifamily Investment
Neighborhood occupancy remains tight and renter demand is deep, according to CRE market data from WDSuite, supporting stable leasing dynamics for well-positioned assets in the Bronx Urban Core.
Located in the Bronx Urban Core, the immediate neighborhood shows resilient renter demand and day-to-day convenience that supports apartment living. Neighborhood occupancy is high (measured at the neighborhood level, not this property) and ranks competitively among New York–Jersey City–White Plains metro neighborhoods (101 out of 889), placing it in the top quartile nationally. That backdrop often supports steady collections and reduces downtime between turns when units are priced and finished appropriately.
Essential amenities are a strength here: grocery access, pharmacies, and park space all sit at the top of national distributions, while restaurant density is also strong. Café density is thinner, but the breadth of everyday services offsets that gap for typical renters. Childcare availability trends above national norms as well, aiding family renters and retention.
The tenant base is predominantly renter-occupied housing units, with neighborhood renter concentration among the highest in the country. For multifamily owners, this points to a large and durable pool of prospects and renewals. Median contract rents and household incomes indicate some affordability pressure (neighborhood rent-to-income metrics), which warrants disciplined lease management and value-oriented unit finishes to sustain occupancy.
Within a 3-mile radius, recent demographic patterns show relatively stable population counts alongside growth in households and a projected increase in households with smaller average household sizes. That combination typically expands the renter pool and supports occupancy stability over time, based on CRE market data from WDSuite’s datasets.
Safety indicators should be assessed in context and over time. Relative to neighborhoods nationwide, safety ranks trend below average here, indicating higher reported crime than many areas. Within the New York–Jersey City–White Plains metro, the neighborhood sits around the middle of the pack (crime rank 431 out of 889), which is a common profile for dense urban districts.
Recent directionality is constructive: estimated violent and property offense rates have declined year over year in the neighborhood according to WDSuite’s CRE market data. Investors typically account for security features, lighting, and tenant communication protocols to support retention and leasing in urban-core settings.
A broad Midtown employment base within commuting range underpins renter demand for workforce and service-oriented households. Nearby corporate offices include Cognizant, Cognizant Technology Solutions, Disney ABC Television Group, Loews, and Ralph Lauren.
- Cognizant — IT services (4.8 miles)
- Cognizant Technology Solutions — IT services (4.8 miles) — HQ
- Disney ABC Television Group — media offices (5.6 miles)
- Loews — diversified holdings (5.9 miles) — HQ
- Ralph Lauren — apparel & lifestyle (6.0 miles) — HQ
1406 Merriam Ave is a 40-unit, small-format asset (average unit size roughly 450 square feet) positioned for steady renter demand in a neighborhood where occupancy is high and renter concentration is among the strongest nationally. The 1991 vintage is newer than much of the surrounding housing stock, which is predominantly mid-century; that typically translates to a relative competitive edge versus older buildings, while still leaving room for targeted modernization to drive rentability and retention. According to CRE market data from WDSuite, neighborhood-level leasing fundamentals remain tight, which supports an income-focused hold strategy with practical capital planning.
Local fundamentals favor rentals: a high-cost ownership market relative to incomes reinforces reliance on apartments, and 3-mile demographics point to more households and smaller average household sizes ahead — dynamics that can expand the renter pool and sustain occupancy. On the risk side, elevated rent-to-income ratios in the neighborhood call for disciplined pricing, and urban-core safety considerations warrant ongoing property-level measures.
- Tight neighborhood occupancy and deep renter base support leasing stability
- 1991 vintage offers a competitive edge versus older local stock with room for targeted upgrades
- Small-unit mix aligns with urban demand and budget-conscious renters
- Household growth and smaller household sizes within 3 miles expand the tenant pool
- Risks: affordability pressure (rent-to-income), typical urban-core safety considerations