| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Poor |
| Demographics | 28th | Poor |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 514 E 163rd St, Bronx, NY, 10451, US |
| Region / Metro | Bronx |
| Year of Construction | 2008 |
| Units | 101 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
514 E 163rd St Bronx Multifamily Investment
Neighborhood renter concentration is high with occupancy strength in the top decile nationally, pointing to durable leasing conditions according to WDSuite’s CRE market data. Position in the Bronx Urban Core supports steady demand for a 101-unit asset without relying on luxury pricing.
Situated in the Bronx Urban Core, the property benefits from a neighborhood that is competitive among 889 New York–Jersey City–White Plains metro neighborhoods for daily amenities. Restaurants, groceries, parks, and pharmacies score in the top national percentiles, which helps support day-to-day convenience and tenant retention rather than destination-driven traffic.
Renter-occupied housing comprises the vast majority of neighborhood units, indicating a deep tenant base for multifamily. Neighborhood occupancy is in the 90th national percentile, a positive indicator for stabilization and renewal performance. Median contract rents in the area have risen over the past five years, but remain oriented toward workforce renters, which can help sustain leasing velocity during softer cycles.
Within a 3-mile radius, households increased in recent years even as population was roughly flat, and forecasts call for additional household growth with smaller average household sizes. This points to more renting households entering the market and supports occupancy stability. Median household incomes are rising from a low base, suggesting gradual improvements in rent headroom; active lease management remains important to balance affordability pressure with retention goals.
Average neighborhood vintage skews older (1970s era), while the subject was built in 2009. Newer construction relative to local stock can enhance competitiveness on building systems and finishes; investors should still plan for mid-life replacements and select modernization to maintain positioning. These dynamics, combined with amenity access and a large renter pool, align with themes commonly highlighted in multifamily property research from WDSuite.
Safety trends are mixed. Relative to neighborhoods nationwide, the area ranks in lower percentiles for safety, and within the New York–Jersey City–White Plains metro it tracks below the metro average. However, recent data indicate year-over-year improvement in violent offense rates, which is a constructive directional signal for long-term operations.
For context, neighborhood crime ranks are measured against 889 metro neighborhoods and national comparisons reference neighborhoods across the U.S. Investors typically account for these dynamics through on-site security, lighting, and resident engagement, alongside underwriting that emphasizes retention and operating discipline.
The location is within commuting range of major Manhattan employment nodes, supporting renter demand and lease retention for workforce and service professionals. Nearby corporate offices span media, finance, technology, apparel, consumer goods, hospitality, and aviation.
- Disney ABC Television Group — media & entertainment (5.1 miles)
- Loews — hospitality (5.2 miles) — HQ
- Ralph Lauren — apparel (5.3 miles) — HQ
- Jetblue Airways — airline (5.3 miles) — HQ
- Estee Lauder — cosmetics (5.3 miles) — HQ
- Icahn Enterprises — diversified holding company (5.3 miles) — HQ
- HRG Group — investment holding (5.4 miles) — HQ
- IBM Plaza Atrium — technology offices (5.4 miles)
- Time Warner — media (5.5 miles) — HQ
- Citigroup — banking (5.6 miles) — HQ
Built in 2009, the property is newer than much of the surrounding 1970s-era stock, providing a relative edge on systems and finishes while approaching mid-life capital cycles. High renter concentration and occupancy in the neighborhood support demand durability, with amenity density and transit access typical of the Bronx Urban Core helping retention and lease-up. According to CRE market data from WDSuite, neighborhood performance indicators such as top-decile occupancy and strong NOI per unit (area benchmark) align with a workforce renter profile rather than luxury positioning.
Households within a 3-mile radius are expanding and average household size is trending smaller, which can broaden the renter pool and support stabilization. While ownership costs in the immediate area are more accessible than in many NYC submarkets, the neighborhood’s renter orientation reduces direct competition from entry-level ownership; still, elevated rent-to-income ratios in parts of the area call for disciplined renewals and targeted value-add to sustain pricing power without increasing turnover.
- Newer 2009 vintage versus older neighborhood stock supports competitive positioning with manageable mid-life capex planning.
- High renter-occupied share and top-decile neighborhood occupancy underpin demand stability and renewal performance.
- Dense amenity footprint and proximity to major employment centers aid retention and leasing velocity.
- Demographic shifts toward more households within 3 miles expand the tenant base and support occupancy.
- Risk: Below-average school ratings and safety metrics relative to national benchmarks require prudent underwriting, resident engagement, and security investment.