| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Best |
| Demographics | 25th | Poor |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1974 Hughes Ave, Bronx, NY, 10457, US |
| Region / Metro | Bronx |
| Year of Construction | 2010 |
| Units | 55 |
| Transaction Date | 2007-03-22 |
| Transaction Price | $275,000 |
| Buyer | URBAN PATHWAYS INC |
| Seller | PUTNAM HOLDING CORP |
1974 Hughes Ave Bronx Multifamily Investment Opportunity
Amenity-dense Urban Core location with renter demand supported by a very high neighborhood renter-occupied share and occupancy in line with metro norms, according to WDSuite’s CRE market data. Newer construction relative to local stock positions the asset competitively for leasing and retention.
Situated in the Bronx Urban Core, the property benefits from a neighborhood rated B and is competitive among New York–Jersey City–White Plains metro neighborhoods (ranked 348 of 889). Amenities are a clear strength: the area sits in the top quartile nationally, with dense coverage of groceries, pharmacies, parks, cafes, and restaurants that support daily convenience and walkable living for renters.
Neighborhood occupancy is strong and roughly consistent with broader metro levels, while the renter-occupied share is among the highest in the metro, indicating a deep tenant base that supports leasing velocity and renewal potential. Median contract rents in the immediate area trend mid-market for the metro, and neighborhood-level NOI per unit performs in the top decile nationally, per commercial real estate analysis from WDSuite.
Construction year dynamics favor newer assets. With the average neighborhood vintage around the mid‑1960s, a 2010 building offers a more modern starting point versus much of the competitive set, helping with curb appeal and systems reliability; investors should still plan for mid‑life updates typical at this age to sustain competitive positioning.
Demographics aggregated within a 3‑mile radius show a modest population dip over the last five years alongside an increase in total households, pointing to smaller household sizes and continued depth in the renter pool. Looking ahead, forecasts indicate growth in household counts and incomes with further rent gains, which can support occupancy stability and measured pricing power for multifamily.
Ownership costs are elevated relative to incomes locally (nationally higher value‑to‑income positioning), which tends to sustain reliance on rental housing and supports multifamily demand. At the same time, higher rent‑to‑income levels warrant attentive lease management and renewal strategies to mitigate affordability pressure risk. Average school ratings in the neighborhood trend below national norms, which may shape unit‑mix appeal more toward singles and smaller households than school‑driven movers.
Safety trends are mixed. Compared with neighborhoods nationwide, reported violent and property offense rates in this area track below national safety percentiles, indicating comparatively higher incident levels. However, recent year-over-year data show directional improvement, with estimated declines in both violent and property offenses, according to WDSuite. Within the New York–Jersey City–White Plains metro (889 neighborhoods total), the neighborhood sits around the middle of the pack on crime-related rankings, suggesting conditions that investors should underwrite thoughtfully rather than treat as an outlier.
For underwriting, the takeaway is practical: emphasize well-lit common areas, access control, and partnership with experienced management to support resident satisfaction and lease retention while monitoring trend lines as part of ongoing asset management.
Proximity to major corporate offices expands the commuter tenant base and supports retention for workforce-oriented housing, including roles in technology consulting, media, and corporate headquarters noted below.
- Cognizant — technology consulting (6.3 miles)
- Cognizant Technology Solutions — technology consulting (6.3 miles) — HQ
- Disney ABC Television Group — media (6.8 miles)
- Loews — corporate offices (7.0 miles) — HQ
- Jetblue Airways — airline corporate (7.0 miles) — HQ
This 55‑unit asset at 1974 Hughes Ave combines Urban Core amenity density with a renter-driven neighborhood, supporting durable leasing fundamentals. The 2010 vintage is newer than much of the local stock, offering competitive positioning versus older buildings while calling for typical mid‑life capital planning to sustain performance. According to CRE market data from WDSuite, neighborhood occupancy is steady and renter concentration is among the metro’s highest, aligning with a deep tenant base.
Investor considerations include an ownership landscape that remains high-cost relative to incomes, which reinforces reliance on multifamily while requiring active renewal strategies where rent‑to‑income levels are elevated. Safety metrics trail national benchmarks but have improved year over year, suggesting risk management through operations rather than a structural impediment. Demographic patterns within a 3‑mile radius point to more households even as average household size edges down, supporting a larger pool of renters over time.
- Urban Core location with top‑tier amenity access that supports leasing and resident stickiness
- 2010 construction offers competitive positioning versus older neighborhood stock; plan for mid‑life updates
- Renter-heavy neighborhood and steady occupancy underpin demand depth and renewal potential
- Ownership costs support multifamily reliance; manage rent‑to‑income exposure through thoughtful renewal and unit‑mix strategy
- Monitor safety performance; leverage property management practices to support resident experience and retention