| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Best |
| Demographics | 25th | Poor |
| Amenities | 97th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 354 Cypress Ave, Bronx, NY, 10454, US |
| Region / Metro | Bronx |
| Year of Construction | 1906 |
| Units | 87 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
354 Cypress Ave Bronx Multifamily with Stable Renter Demand
According to WDSuite’s CRE market data, the surrounding neighborhood posts top‑quartile national occupancy and a very high renter concentration, signaling durable leasing fundamentals for investors; these metrics describe the neighborhood, not the property.
The property sits within an Urban Core neighborhood that rates B and is competitive among the 889 New York–Jersey City–White Plains metro neighborhoods (ranked 361), according to WDSuite. Neighborhood occupancy trends are strong—competitive in the metro (rank 171 of 889) and top quartile nationally—supporting income stability at comparable multifamily assets. Renter-occupied housing share is notably high (rank 12 of 889), indicating a deep tenant base and steady demand for smaller units.
Local amenities are a relative strength. Grocery and pharmacy access rank in the highest national percentiles, and restaurant density is also top-tier, providing daily convenience that supports retention and leasing velocity. Cafés and parks are above national norms, reinforcing livability for residents who prioritize walkable essentials.
Within a 3‑mile radius, demographics show recent household growth alongside smaller average household sizes and a projected increase in both population and households over the next five years. This points to a larger tenant base and potential renter pool expansion, which can help sustain occupancy and absorption.
Home values are elevated relative to national benchmarks, which generally sustains renter reliance on multifamily housing in this part of the Bronx. At the same time, rent-to-income ratios indicate affordability pressure for some renter households, suggesting an emphasis on lease management and renewal strategies. Average school ratings trail national averages, which may affect family-oriented demand, though workforce renters often prioritize access to jobs and daily amenities.
From an investment lens, neighborhood NOI per unit sits above the national median and overall housing metrics are above metro median, per WDSuite’s commercial real estate analysis. These attributes, combined with high neighborhood occupancy, underpin a constructive outlook for stabilized operations while leaving room for targeted operational improvements.
Safety conditions should be weighed thoughtfully. Compared with the 889 neighborhoods in the New York–Jersey City–White Plains metro, the neighborhood’s crime rank (469 of 889) indicates below‑average safety relative to the region. Nationally, the neighborhood sits in lower safety percentiles, signaling that investors should budget for security, lighting, and property management practices that support resident comfort.
Recent data from WDSuite indicates a year‑over‑year decline in violent offense rates, an encouraging directional trend. Even so, prudent measures—such as access control, camera coverage, and partnership with local community initiatives—can help mitigate risk and support leasing and retention.
Proximity to Midtown and Manhattan corporate offices provides a broad employment base that supports workforce renter demand and commute convenience, notably across aviation, hospitality, media, apparel, and cosmetics.
- Jetblue Airways — airline HQ (4.2 miles) — HQ
- Loews — hospitality & holdings (4.3 miles) — HQ
- Disney ABC Television Group — media (4.3 miles)
- Ralph Lauren — apparel (4.3 miles) — HQ
- Estee Lauder — cosmetics (4.4 miles) — HQ
354 Cypress Ave is a mid‑size Bronx multifamily asset (87 units) positioned in a neighborhood with top‑quartile national occupancy and a very high share of renter‑occupied housing units. Elevated home values in the area reinforce reliance on rentals, while household growth within a 3‑mile radius points to a larger tenant base over time. According to CRE market data from WDSuite, the neighborhood’s occupancy and NOI per unit metrics outperform national medians, supporting a case for stable cash flows if operations are managed with attention to affordability and retention.
Amenities are a local strength—grocery, pharmacy, and restaurant density rank among the highest national percentiles—helping leasing velocity and renewal probability. Risks to underwrite include below‑average school ratings and safety metrics that are weaker than the metro average; both can be mitigated with targeted CapEx, operations, and resident‑experience programs.
- High renter concentration and top‑quartile neighborhood occupancy support demand depth and leasing stability.
- Strong amenity access (grocery, pharmacy, restaurants) bolsters livability and retention.
- Elevated ownership costs in the area reinforce sustained reliance on multifamily units.
- Neighborhood NOI per unit above national median supports income durability with disciplined expense control.
- Risks: below‑average school ratings, softer safety metrics, and renter affordability pressure require proactive lease and asset management.