| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Poor |
| Demographics | 28th | Poor |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 304 E 162nd St, Bronx, NY, 10451, US |
| Region / Metro | Bronx |
| Year of Construction | 1931 |
| Units | 21 |
| Transaction Date | 1995-06-29 |
| Transaction Price | $110,000 |
| Buyer | 5 TELLERS ASSOCIATES LP |
| Seller | DOUBLE TELLER CORP |
304 E 162nd St, Bronx Multifamily Investment
Neighborhood occupancy is high and renter concentration is deep, indicating durable traffic and retention potential according to WDSuite’s CRE market data.
The property at 304 E 162nd St sits in an Urban Core pocket of the New York–Jersey City–White Plains metro that WDSuite rates "B" (ranked 378 of 889 metro neighborhoods, above the metro median). The area’s renter-occupied share is substantial, supporting a broad tenant base and steady leasing.
Occupancy in the surrounding neighborhood trends strong at 98.2% (90th percentile nationally), which favors income stability and tighter concessions relative to weaker submarkets. Neighborhood-level NOI per unit also benchmarks in the 95th percentile nationwide, underscoring historically resilient operating performance in this locale; while not a property guarantee, it signals supportive fundamentals for investors conducting multifamily property research.
Livability factors are a notable advantage: amenities, parks, groceries, pharmacies, and restaurants all test in the top national percentiles, indicating daily convenience that helps with leasing velocity and renewals. Average school ratings are lower (23rd percentile nationally), which may shape unit mix appeal toward households prioritizing access and services over school performance.
Vintage context: built in 1996, the asset is newer than the neighborhood’s average construction year (1971). That relative youth can help the property compete against older stock and may moderate near-term capital needs, while still leaving room for targeted systems updates or common-area refreshes to support rent positioning.
Within a 3-mile radius, demographics show households have grown even as average household size trends smaller, and forecasts point to additional household gains over the next five years. This dynamic typically expands the renter pool and supports occupancy stability, particularly in high-amenity, transit-served areas.
Safety benchmarks are mixed. Compared with neighborhoods nationwide, overall crime indicators for this area sit below national averages (24th percentile nationally), and property crime benchmarks also read weak (around the 2nd percentile nationally). However, recent trend data shows violent offense rates improving year over year (improvement aligns with a 61st-percentile change nationally). At the metro scale, the neighborhood’s crime rank is 475 out of 889 New York–area neighborhoods, suggesting mid-pack performance locally rather than a top- or bottom-tier outlier.
For underwriting, investors often translate this profile into pragmatic measures: emphasize lighting and access control, reinforce on-site management presence, and consider resident engagement as part of retention planning—particularly for ground-floor and common areas. Monitoring trend direction is prudent given the recent improvement.
Proximity to Manhattan’s corporate cores supports renter demand through short commutes to media, consumer brands, finance, and transportation employers listed below. These anchors can underpin leasing stability for workforce and professional tenants.
- Disney ABC Television Group — media (4.9 miles)
- Loews — diversified holding company (5.1 miles) — HQ
- Ralph Lauren — apparel & lifestyle brand (5.2 miles) — HQ
- Estee Lauder — beauty & consumer products (5.2 miles) — HQ
- Icahn Enterprises — investment holding company (5.2 miles) — HQ
This 21-unit, 1996-vintage asset benefits from a renter-dense Urban Core location with strong neighborhood occupancy (90th percentile nationally) and deep amenity access. The vintage beats the area’s older average stock, offering competitive positioning and the potential to capture demand without the heavy capex typical of pre-1980 product, while targeted updates can still support rent optimization. According to CRE market data from WDSuite, neighborhood-level operating metrics have been resilient, which helps frame expectations for income stability relative to other Bronx submarkets.
Within a 3-mile radius, households have increased and are projected to expand further as average household size declines—conditions that typically enlarge the renter pool and support ongoing absorption. Key considerations for underwriting include affordability pressure (elevated rent-to-income ratios in the neighborhood) and safety benchmarks that trail national norms, both of which call for disciplined leasing strategy, renewal management, and prudent OPEX planning.
- Renter-dense location with strong neighborhood occupancy supports income durability.
- 1996 construction competes well versus older local stock; selective upgrades can enhance positioning.
- High-amenity, transit-served context aids leasing velocity and renewals.
- 3-mile household growth and smaller household sizes expand the renter pool and support absorption.
- Risks: elevated rent-to-income ratios and below-average safety require attentive leasing, retention, and OPEX controls.