| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Fair |
| Demographics | 22nd | Poor |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1691 Fulton Ave, Bronx, NY, 10457, US |
| Region / Metro | Bronx |
| Year of Construction | 1926 |
| Units | 56 |
| Transaction Date | 2023-03-30 |
| Transaction Price | $1,673,482 |
| Buyer | 1691 FULTON AVENUE HOUSING DEVELOPMENT F |
| Seller | RICHMAN GROUP CAPITAL CORPORATION |
1691 Fulton Ave, Bronx NY Multifamily with Durable Renter Demand
Neighborhood fundamentals point to a deep renter pool and steady occupancy, according to WDSuite’s CRE market data. Metrics cited refer to the surrounding neighborhood, not the property, and suggest stable performance drivers in an Urban Core location.
This Urban Core address in the Bronx benefits from dense amenities and everyday convenience. Amenity access ranks in the top quartile among 889 metro neighborhoods, with strong coverage of groceries, parks, pharmacies, and cafes—factors that typically support renter retention and day‑to‑day livability. Average school ratings in the area are below national norms, which is a consideration for family-oriented product positioning.
For investors screening income stability, neighborhood occupancy is high and has trended upward over five years, placing the area in the top quartile for occupancy among 889 metro neighborhoods. The share of renter‑occupied housing is exceptionally high, indicating a large tenant base that can support leasing velocity and renewal performance for multifamily assets.
Within a 3‑mile radius, demographics show a large, diversified population and an increase in total households alongside smaller average household sizes. That combination points to more renters entering the market and a broader tenant base—dynamics that can underpin occupancy stability even as unit mix and finishes vary by asset.
Elevated home values relative to national levels create a high‑cost ownership market, which tends to reinforce reliance on rental housing. At the same time, rent‑to‑income ratios in the neighborhood suggest some affordability pressure, warranting attentive lease management and renewal strategies. On operating performance, the area’s average NOI per unit sits well above national medians, a positive indicator for income durability when combined with strong occupancy, based on commercial real estate analysis from WDSuite.
Safety compares less favorably to national benchmarks, with the neighborhood scoring in lower national percentiles for both violent and property offenses. Recent trends, however, indicate year‑over‑year declines in estimated offense rates, which suggests conditions have been improving. Investors typically account for this by emphasizing on‑site security features, unit‑level upgrades that attract stable households, and marketing to the area’s strong renter base.
Proximity to major corporate offices across technology, media, retail, and travel supports workforce housing demand and commute convenience for renters. The employers below reflect the nearby white‑collar base that can aid leasing stability.
- Cognizant — IT services (6.1 miles)
- Cognizant Technology Solutions — IT services (6.1 miles) — HQ
- Disney ABC Television Group — media & entertainment (6.3 miles)
- Loews — diversified holdings (6.4 miles) — HQ
- Ralph Lauren — apparel & lifestyle (6.5 miles) — HQ
1691 Fulton Ave sits within a high‑demand renter neighborhood marked by top‑quartile occupancy among 889 metro neighborhoods and extensive amenity access. Elevated ownership costs in the area help sustain reliance on rental housing, while the 3‑mile radius shows growing household counts and smaller average household sizes, indicating ongoing renter pool expansion and support for leasing stability.
Built in 1974, the asset is newer than much of the surrounding housing stock. That positioning can be competitive versus older buildings while still leaving room for targeted system updates and common‑area upgrades to capture value‑add upside. According to CRE market data from WDSuite, the neighborhood’s operating profile (high occupancy and solid NOI per unit) aligns with durable income, though pricing power should be balanced against affordability pressure and local safety perceptions.
- Deep renter base and top‑quartile neighborhood occupancy support leasing stability
- Amenity‑rich Urban Core location aids retention and day‑to‑day livability
- 1974 vintage offers competitive positioning versus older stock with value‑add potential through upgrades
- Elevated home values reinforce rental demand and renewal prospects
- Risks: affordability pressure and below‑average safety metrics require careful revenue and operations management