| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Poor |
| Demographics | 19th | Poor |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2255 Morris Ave, Bronx, NY, 10453, US |
| Region / Metro | Bronx |
| Year of Construction | 1941 |
| Units | 43 |
| Transaction Date | 2006-07-06 |
| Transaction Price | $3,260,000 |
| Buyer | 2255 MORRIS AVENUE LLC |
| Seller | 2255 MORRIS REALTY CORP |
2255 Morris Ave Bronx Multifamily with Stable Occupancy
Neighborhood occupancy trends run above metro norms, supporting steady renter demand in this Urban Core location, according to WDSuite’s CRE market data.
Situated in the Bronx Urban Core, the property benefits from a deep renter base and strong utilization. The neighborhood’s occupancy performance is above the metro median and competitive among New York–Jersey City–White Plains neighborhoods (rank 220 of 889; 82nd percentile nationally), a constructive backdrop for lease stability and renewal capture.
Daily-life amenities are a clear strength. Amenity access ranks well within the metro (rank 36 of 889) and aligns with top national percentiles across groceries, restaurants, cafes, pharmacies, parks, and childcare. For investors, this density of services supports resident convenience and reduces friction in leasing, especially for car-light households typical of Urban Core submarkets.
The neighborhood skews heavily renter-occupied (share among the highest nationally), indicating substantial depth in tenant demand. Median contract rents benchmark above many U.S. neighborhoods (nationally around the upper quartile), while elevated ownership costs (near the top nationally) reinforce reliance on multifamily housing—factors that can support pricing power but call for attentive lease management as rent-to-income ratios indicate affordability pressure.
Within a 3-mile radius, recent years show modest population softness alongside growth in household counts and smaller average household sizes; forward-looking projections point to additional household growth by 2028. For investors, this suggests a gradually expanding renter pool and sustained demand for smaller, efficient units. Built in 1987, the asset is newer than the neighborhood’s older housing stock (average vintage mid‑20th century), providing relative competitiveness versus older buildings while still warranting targeted system upgrades or modernization to meet current renter expectations.
School ratings trail national norms, which can factor into family renter segments, but the combination of amenity density, transit-oriented urban form, and high renter concentration supports workforce housing appeal and ongoing absorption, based on CRE market data from WDSuite.
Safety indicators in this neighborhood trend weaker than national benchmarks, with violent and property offense levels comparing unfavorably to many U.S. areas. At the metro level, the area sits around the middle of the pack (crime rank 366 of 889), signaling conditions that warrant prudent onsite security protocols and resident communication.
Notably, recent year-over-year readings show double‑digit declines in both violent and property offenses, indicating improvement momentum. Investors should treat safety as a manageable operational consideration—monitoring trends, lighting and access controls, and partnership with local authorities—rather than a structural barrier.
Proximity to major corporate offices in Manhattan supports commuter convenience and broad white‑collar employment exposure, which can help underpin renter demand and retention for workforce households. Key nearby employers include Cognizant, Cognizant Technology Solutions, Disney ABC Television Group, Loews, and Ralph Lauren.
- Cognizant — corporate offices (5.5 miles)
- Cognizant Technology Solutions — corporate offices (5.6 miles) — HQ
- Disney ABC Television Group — media (7.1 miles)
- Loews — diversified holdings (7.3 miles) — HQ
- Ralph Lauren — apparel & lifestyle (7.4 miles) — HQ
2255 Morris Ave offers investors a 1987-vintage building in a high-demand Bronx Urban Core setting where the neighborhood’s occupancy stands above the metro median and in the upper national percentiles. High renter concentration and elevated ownership costs in the area support durable apartment demand and potential pricing power, while the property’s newer‑than‑average vintage provides a competitive edge versus older local stock—though selective modernization can further enhance positioning.
Within a 3-mile radius, household counts have risen and are projected to continue expanding alongside smaller household sizes, pointing to renter pool expansion and support for occupancy stability. According to CRE market data from WDSuite, amenity density is a notable strength, though affordability pressure (high rent‑to‑income readings) and safety considerations call for attentive lease management and operational controls.
- Occupancy above metro median with nationally strong standing supports lease stability
- 1987 vintage is newer than local averages, enabling competitive positioning with targeted upgrades
- High renter concentration and high-cost ownership market reinforce multifamily demand
- Amenity-rich Urban Core location aids retention and absorption
- Risks: affordability pressure (elevated rent-to-income) and safety indicators require proactive management