| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Poor |
| Demographics | 28th | Poor |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 450 E 165th St, Bronx, NY, 10456, US |
| Region / Metro | Bronx |
| Year of Construction | 1904 |
| Units | 25 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
450 E 165th St Bronx Multifamily Investment
Neighborhood occupancy near 98% and a renter concentration above 90% point to durable leasing fundamentals around the asset, according to WDSuite’s CRE market data.
Rated B and ranking above the metro median (378 of 889) within the New York–Jersey City–White Plains metro, the neighborhood combines dense, transit-oriented living with renter-driven housing dynamics. Neighborhood occupancy trends sit in the top quartile nationally and are competitive among metro peers, supporting stable collections and lower downtime between turns.
Everyday convenience is a core strength: restaurants, groceries, pharmacies, parks, and childcare options rank in the top national percentiles, offering residents walkable access to essentials. These amenities typically bolster retention and broaden demand from service and administrative workers seeking commute efficiency.
The property’s 1998 vintage is newer than the neighborhood average stock (1971), positioning it competitively versus older buildings while still leaving room for selective modernization to drive rent trade‑outs and reduce near-term capex uncertainty.
Within a 3‑mile radius, demographics indicate a large renter pool and a rising household count alongside gradually smaller household sizes. This pattern generally expands the tenant base and supports occupancy stability, even as incomes mix across a wide spectrum. Neighborhood-level NOI per unit trends in the mid‑90s national percentile suggest historically resilient operations for comparable assets, based on CRE market data from WDSuite.
Ownership costs are relatively accessible by national standards, which can introduce some competition from entry‑level ownership. However, the neighborhood’s high share of renter‑occupied units indicates deep demand for multifamily housing, aiding lease‑up and renewal potential.
Safety metrics trail national benchmarks, with neighborhood ranks in the lower half among 889 metro neighborhoods and national safety percentiles on the low side compared with U.S. neighborhoods. Investors should underwrite with prudent assumptions for security, insurance, and operational oversight.
Recent trend data shows violent‑offense rates moving lower year over year at the neighborhood level, which is constructive, but the area remains below national safety percentiles. A practical approach is to emphasize property‑level controls, lighting, and partnerships with local resources while benchmarking loss history against similar urban core assets.
Proximity to major corporate offices supports a broad commuter tenant base and helps retention through short travel times, including Disney ABC, Loews, Ralph Lauren, Estée Lauder, and Icahn Enterprises.
- Disney ABC Television Group — corporate offices (5.23 miles)
- Loews — corporate offices (5.36 miles) — HQ
- Ralph Lauren — corporate offices (5.42 miles) — HQ
- Estee Lauder — corporate offices (5.45 miles) — HQ
- Icahn Enterprises — corporate offices (5.47 miles) — HQ
450 E 165th St benefits from a deep renter base and neighborhood occupancy in the top quartile nationally, alongside dense amenities that reinforce day‑to‑day convenience. The 1998 construction is newer than local averages, offering competitive positioning versus older stock with potential for targeted value‑add to enhance rents without full‑scale redevelopment. Within a 3‑mile radius, household counts have been rising and are projected to continue growing as average household size trends smaller — dynamics that typically expand the tenant pool and support leasing continuity.
According to CRE market data from WDSuite, the surrounding neighborhood’s rent levels and high renter concentration favor multifamily demand, while relatively accessible ownership costs imply some competition that should be monitored. Underwriting should account for below‑national safety percentiles and manage rent‑to‑income affordability pressure through unit mix, renewal strategies, and expense discipline.
- High neighborhood occupancy and strong renter concentration underpin leasing stability
- Dense retail, services, and parks support retention and broaden demand
- 1998 vintage offers competitive positioning with selective value‑add upside
- Risks: below‑national safety percentiles and affordability pressure require active management