| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Fair |
| Demographics | 23rd | Poor |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1742 E 172nd St, Bronx, NY, 10472, US |
| Region / Metro | Bronx |
| Year of Construction | 1930 |
| Units | 97 |
| Transaction Date | 2004-05-20 |
| Transaction Price | $6,450,000 |
| Buyer | 172ND STREET REALTY LLC |
| Seller | 1750 EAST REALTY LLC |
1742 E 172nd St Bronx Multifamily Investment
2005-vintage, 97-unit asset positioned in an amenity-rich Bronx neighborhood where renter demand is supported by a deep tenant base and high ownership costs, according to WDSuite’s CRE market data. This commercial real estate analysis points to stable occupancy at the neighborhood level with scope to compete versus older local stock.
The neighborhood scores above the metro median overall (ranked 431 among 889 New York–Jersey City–White Plains neighborhoods), signaling balanced fundamentals for workforce-oriented rentals. Daily convenience is a differentiator: amenities, parks, groceries, pharmacies, and dining density all sit in the top percentiles nationally, helping with resident retention and lease-up consistency based on CRE market data from WDSuite.
Renter demand is deep. The neighborhood s share of renter-occupied housing is very high (98th percentile nationally), indicating a large, durable tenant base for multifamily. Neighborhood occupancy is around the national mid-range, suggesting generally steady leasing conditions with typical turnover management needs rather than chronic vacancy issues.
Within a 3-mile radius, households have grown over the last five years and are projected to continue increasing, even as average household size trends lower. That combination expands the renter pool over time and supports occupancy stability. Median household incomes are improving from prior years, which can aid collections and renewal performance, though lease management should still account for affordability pressure in parts of the renter base.
Home values in the neighborhood are elevated relative to local incomes (high value-to-income ratio and 91st percentile home values nationally). In practice, a high-cost ownership market tends to reinforce reliance on rental housing, which can support pricing power and reduce move-outs to ownership for well-managed assets.
The 2005 construction at 1742 E 172nd St is newer than the neighborhood s largely prewar housing stock. That positioning can help compete on unit quality and building systems; investors should still plan for mid-life capital items and selective renovations to maintain competitiveness versus ongoing upgrades across the Bronx.
School ratings in the broader area track below national averages, which can modestly limit family-driven demand in certain unit mixes; however, the strong amenity access and transit-oriented urban core setting remain attractive for adult and workforce renters.
Safety indicators for the neighborhood trend below national averages. The crime rank sits around the middle of the pack within the metro (476 out of 889), while national percentiles for violent and property offenses are low, indicating higher reported crime than many U.S. neighborhoods. Recent data from WDSuite shows slight year-over-year declines in both violent and property offense rates, a constructive directional signal to monitor rather than a completed turnaround.
For investors, this context typically translates to added emphasis on on-site security practices, lighting, and community engagement, as well as measured expectations for premiums tied to perceived safety. Trends should be tracked over multiple periods to assess whether the recent improvement persists relative to the metro and national benchmarks.
Proximity to major corporate employers across aviation, media, retail/apparel, and consumer goods supports a broad commuter renter base and reduces exposure to single-industry shocks. The following nearby employers help underpin leasing demand through commute convenience:
- Jetblue Airways — aviation HQ (6.7 miles) — HQ
- Loews — diversified holdings (7.1 miles) — HQ
- Disney ABC Television Group — media (7.1 miles)
- Ralph Lauren — apparel & lifestyle (7.2 miles) — HQ
- Estee Lauder — beauty & personal care (7.2 miles) — HQ
This 97-unit, 2005-built property benefits from an urban core Bronx location with exceptional amenity access and a deep renter-occupied housing base. According to CRE market data from WDSuite, the neighborhood sits above the metro median overall, with occupancy around the national mid-range and renter concentration near the top of national comparisons. Newer vintage relative to the local prewar stock provides competitive positioning for unit quality, while high home values versus incomes reinforce sustained reliance on rentals.
Investor considerations include managing affordability pressure (given elevated rent-to-income ratios in the area) and addressing neighborhood safety perceptions with proactive operations. Over a 3-mile radius, households have increased and are forecast to rise further as household sizes trend smaller—factors that typically expand the renter pool and support leasing stability for well-run assets. Mid-life capex planning can unlock value-add upside through selective renovations and modernization.
- Amenity-rich, transit-oriented Bronx location with broad renter base and above-metro-median neighborhood standing
- 2005 vintage competes well versus older local stock; targeted upgrades can drive rent and retention
- High-cost ownership market supports sustained rental demand and pricing power
- 3-mile household growth and smaller household sizes point to renter pool expansion
- Risks: affordability pressure and below-average safety metrics require active management and prudent underwriting