| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Poor |
| Demographics | 43rd | Poor |
| Amenities | 78th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3880 Orloff Ave, Bronx, NY, 10463, US |
| Region / Metro | Bronx |
| Year of Construction | 2004 |
| Units | 101 |
| Transaction Date | 2003-04-14 |
| Transaction Price | $2,100,000 |
| Buyer | ORLOFF AVENUE ASSOCIATES LLC |
| Seller | KULICK ALICE L |
3880 Orloff Ave Bronx Multifamily Investment Opportunity
Neighborhood occupancy is steady with a deep renter base, according to WDSuite s CRE market data, suggesting durable demand for well-located units in this Urban Core pocket of the Bronx. Newer construction relative to the area positions the asset to compete on finishes and operations.
This Urban Core location in the Bronx shows competitive occupancy dynamics and a strong renter-occupied housing base at the neighborhood level. The neighborhood occupancy rate ranks 352 out of 889 metro neighborhoods, which is competitive among New York-Jersey City-White Plains neighborhoods, and the share of renter-occupied units sits near the top of the metro (99th percentile nationally). For investors, that combination typically supports a stable tenant pipeline and consistent leasing.
Everyday needs are well served: neighborhood grocery and pharmacy access both sit at the 100th percentile nationally, and restaurants are robust (97th percentile), though cafes are comparatively sparse. Parks and childcare access trend above national norms (87th and 85th percentiles, respectively). These amenity mixes can help with resident retention and reduce turnover sensitivity during lease cycles.
At the neighborhood level, the average construction year is 1951, while the subject A0property was built in 2005. The newer vintage offers relative competitive positioning versus older stock, with potential for selective system updates or common-area improvements to maintain rentability as the asset matures.
Demographic indicators are aggregated within a 3-mile radius. Recent years show a modest population dip with an increase in total households and smaller average household sizes; forward-looking projections indicate population growth with further household expansion. This points to a gradually expanding renter pool, which can underpin occupancy stability and leasing velocity over the hold period.
Income and housing context suggest mixed affordability signals. Neighborhood median contract rents track in the upper national quartile, while home values are lower relative to many U.S. neighborhoods. In practice, this can sustain rental reliance for many households while also requiring careful lease management where rent-to-income ratios are elevated.
Safety metrics for the neighborhood trend below national averages. The neighborhood A0crime rank is 483 out of 889 metro neighborhoods, indicating higher crime than many parts of the region. Nationally, the neighborhood falls in lower percentiles for both property and violent offenses, signaling that investors should budget for security-conscious operations and resident communication.
From an underwriting standpoint, prudent measures include lighting, access control, and coordination with local resources. Monitoring multi-year trends and staying responsive to on-the-ground conditions can help maintain leasing momentum and resident retention.
- Cognizant technology services (5.8 miles)
- Cognizant Technology Solutions technology services (5.9 miles) HQ
- Disney ABC Television Group media (8.8 miles)
- Loews diversified holdings (9.1 miles) HQ
- Ralph Lauren apparel & lifestyle (9.2 miles) HQ
Built in 2005 with 101 units, the property is newer than most nearby stock, offering a competitive edge against mid-century buildings while leaving room for targeted upgrades as systems age. At the neighborhood level, occupancy is competitive within the metro and renter concentration is among the highest nationally, supporting tenant depth and ongoing leasing. According to CRE market data from WDSuite, neighborhood amenity access (groceries, pharmacies, and restaurants) ranks well nationally, which can bolster retention and reduce downtime between turns.
Demand drivers are reinforced by 3-mile trends indicating modest recent population softness but growth ahead alongside a larger household count and smaller household sizes, which together point to a broader renter pool. Balanced against this are operating considerations: safety metrics trail national norms and rent-to-income levels imply potential affordability pressure, both of which warrant active management and prudent capital planning.
- Newer 2005 construction relative to area stock supports competitive positioning and selective value-add.
- Competitive neighborhood occupancy and high renter-occupied share underpin tenant depth and leasing stability.
- Strong everyday amenity access (groceries, pharmacies, restaurants) supports retention and reduces downtime.
- 3-mile outlook shows population growth and household expansion, indicating a larger future renter pool.
- Risks: below-average safety metrics and affordability pressure require proactive operations and leasing discipline.