| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Fair |
| Demographics | 22nd | Poor |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1934 Harrison Ave, Bronx, NY, 10453, US |
| Region / Metro | Bronx |
| Year of Construction | 1924 |
| Units | 25 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1934 Harrison Ave Bronx Multifamily in High-Demand Renter Hub
Neighborhood occupancy is high and stable, supported by dense amenities and a predominantly renter-occupied housing stock, according to WDSuite’s CRE market data. This positioning supports durable leasing fundamentals in an urban core location.
The property sits in an Urban Core neighborhood of the New York–Jersey City–White Plains metro that is competitive among metro neighborhoods (ranked 353 of 889, neighborhood rating B). According to CRE market data from WDSuite, neighborhood occupancy is in the top decile nationally, indicating resilient demand for rentals rather than seasonal swings at the property level.
Amenity access is a clear strength: grocery, parks, pharmacies, restaurants, and cafes all score in high national percentiles, offering daily convenience that supports retention and consistent leasing. Median contract rents benchmark around the middle of national distributions while average NOI per unit trends in the upper quintile nationally, signaling viable income performance in context of the metro’s cost structure.
The neighborhood has a very high share of housing units that are renter-occupied, which deepens the tenant base and supports occupancy stability for multifamily assets. Median home values rank high nationally, reflecting a high-cost ownership market that can sustain reliance on rentals and reinforce pricing power for well-managed properties.
Building vintage matters for capital planning. With a 1984 construction year, this asset is newer than much of the surrounding housing stock (area average skews toward the late 1950s), offering relative competitiveness versus older buildings; however, investors should still underwrite modernization of aging systems or value-add upgrades as needed.
Demographics within a 3-mile radius show households have grown in recent years despite modest population drift, with average household size trending smaller. Looking ahead, forecasts indicate additional household growth and rising incomes alongside rent gains, which together point to a larger tenant base and support for rent roll performance over the medium term.
Safety indicators for the neighborhood track below national percentiles overall, meaning crime rates are elevated compared with many U.S. neighborhoods. Within the metro context (889 neighborhoods), the area’s standing is mid-pack, but national comparisons show it trails safer peer areas.
Recent trend data provides some constructive signals: both violent and property offense estimates have declined year over year, placing those improvements above average nationally. Investors should weigh current safety perceptions in leasing and management plans while noting the downward trend as a supportive medium-term factor.
Nearby employment centers in Manhattan and the Bronx provide a diverse white-collar base that underpins renter demand and commute convenience, including Cognizant, Disney ABC, Loews, Ralph Lauren, and Cognizant Technology Solutions.
- Cognizant — corporate offices (5.2 miles)
- Cognizant Technology Solutions — corporate offices (5.23 miles) — HQ
- Disney ABC Television Group — corporate offices (6.66 miles)
- Loews — corporate offices (6.92 miles) — HQ
- Ralph Lauren — corporate offices (6.98 miles) — HQ
This 25-unit, 1984-vintage building benefits from a renter-heavy urban submarket where neighborhood occupancy trends in the top decile nationally. High amenity access and a deep tenant base support stable absorption and renewals, while the asset’s newer vintage versus area stock offers relative competitiveness with potential to capture value through targeted modernization. Based on commercial real estate analysis from WDSuite, the combination of high neighborhood occupancy and a high-cost ownership environment points to durable multifamily demand.
Within a 3-mile radius, households have increased and are projected to expand further as average household size moderates, expanding the renter pool over time. Investors should account for affordability pressure (given local rent-to-income dynamics) and manage around neighborhood safety perceptions, but the structural demand drivers and location fundamentals create a credible path to steady cash flow with operational discipline.
- Top-decile neighborhood occupancy supports leasing stability and rent roll durability
- Renter-heavy housing stock and dense amenities deepen the tenant base
- 1984 construction is newer than area average, with scope for targeted value-add
- Household growth within 3 miles points to a larger future renter pool
- Risks: affordability pressure (rent-to-income) and safety perceptions require proactive management