| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Best |
| Demographics | 39th | Poor |
| Amenities | 80th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3961 Carpenter Ave, Bronx, NY, 10466, US |
| Region / Metro | Bronx |
| Year of Construction | 2012 |
| Units | 58 |
| Transaction Date | 2011-03-01 |
| Transaction Price | $1,085,000 |
| Buyer | 3961 CARPENTER AVE ASSOC LLC |
| Seller | THE CHURCH OF SAINT MARY |
3961 Carpenter Ave Bronx Multifamily Investment
2012 vintage with compact units positions this 58-unit asset competitively against older Bronx stock, with neighborhood occupancy stability supporting cash flow according to WDSuite’s CRE market data.
Located in an Urban Core setting of the Bronx, the property benefits from everyday convenience: neighborhood data point to strong grocery and pharmacy density, while parks and cafes are thinner. For investors, this mix supports daily needs and foot traffic without relying on discretionary destinations, per WDSuite’s commercial real estate analysis.
The surrounding neighborhood shows an occupancy rate measured at the neighborhood level that is steady in the mid-90s, while renter-occupied housing accounts for a meaningful share of units at both the neighborhood level and within a 3-mile radius. This depth of renter demand supports leasing velocity and renewal prospects, though it also calls for disciplined lease management where rent-to-income ratios indicate some affordability pressure.
Relative to the metro, neighborhood housing metrics and amenities sit above national midpoints, with the area’s median home values elevated. In practice, a high-cost ownership market tends to reinforce reliance on multifamily rentals, aiding tenant retention and pricing power during stable periods. School outcomes in the neighborhood test below national norms, which investors should factor into positioning and resident services.
Demographic statistics aggregated within a 3-mile radius indicate households have grown recently even as average household size has edged lower. Looking ahead, projections call for additional household growth and higher incomes, which typically expand the renter pool and support occupancy stability for well-managed assets.
Safety trends are mixed. Compared with neighborhoods nationwide, this area benchmarks below national safety norms, including lower national percentiles for violent and property offenses. At the same time, WDSuite’s data show year-over-year declines in estimated incident rates, indicating recent improvement momentum. For investors, underwriting should reflect security measures and operating practices appropriate for an urban Bronx location, while acknowledging the improving trend.
Within the New York–Jersey City–White Plains metro (889 neighborhoods), neighborhood-level crime ranks in the mid range relative to peers. Interpreting ranks alongside the national percentiles, the takeaway is a higher-than-average operating-risk profile versus national benchmarks, with recent declines offering a constructive directional signal.
Proximity to major corporate offices broadens the commuter tenant base and supports leasing stability, notably among professional services and media employers such as Cognizant, Cognizant Technology Solutions, Disney ABC Television Group, Loews, and JetBlue Airways.
- Cognizant — IT services (7.5 miles)
- Cognizant Technology Solutions — IT services (7.6 miles) — HQ
- Disney ABC Television Group — media offices (10.0 miles)
- Loews — diversified holdings (10.2 miles) — HQ
- JetBlue Airways — airline corporate offices (10.3 miles) — HQ
Built in 2012, the property is materially newer than the neighborhood’s older housing stock, which can offer relative competitiveness and reduce near-term capital needs. Compact, efficiency-oriented layouts align with renter demand in a high-cost ownership market, supporting consistent absorption for smaller-format units.
According to CRE market data from WDSuite, neighborhood occupancy sits above national midpoints and net operating income per unit benchmarks competitively versus national peers. Within a 3-mile radius, households have increased and are projected to grow alongside rising incomes, expanding the renter pool and supporting occupancy stability. Key considerations include a below-national safety profile, thinner park and cafe access, and rent-to-income levels that call for proactive lease management.
- 2012 construction offers relative competitiveness versus older Bronx stock with moderated near-term capex.
- Depth of renter-occupied housing at the neighborhood and 3-mile levels supports demand for smaller-format units.
- High-cost ownership environment reinforces reliance on rentals, aiding retention and pricing power.
- Household and income growth within 3 miles point to a larger tenant base and stable occupancy.
- Risks: below-national safety benchmarks and affordability pressure require prudent operations and security planning.