| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Best |
| Demographics | 25th | Poor |
| Amenities | 96th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 607 E 139th St, Bronx, NY, 10454, US |
| Region / Metro | Bronx |
| Year of Construction | 1920 |
| Units | 47 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
607 E 139th St Bronx Multifamily Investment Opportunity
Neighborhood multifamily occupancy is approximately 97% with a deep renter base, according to WDSuite’s CRE market data, supporting stable tenancy for a 47‑unit asset in the South Bronx. Focus is on durable renter demand rather than rent spikes in this high-cost ownership market.
The property sits in an Urban Core pocket of the Bronx with a neighborhood rating of B and strong proximity to daily needs. Amenity density is a clear strength: groceries, pharmacies, restaurants, and parks score in the top national percentiles, helping with resident retention and day‑to‑day convenience for workforce tenants. School quality is below national averages, which may matter for family‑oriented leasing strategy, but access to services and employment corridors typically anchors demand in this submarket.
Renter occupancy concentration in the neighborhood is very high (renter‑occupied units account for about nine in ten homes), indicating a large and durable tenant base for multifamily. Neighborhood occupancy is strong and ranked above the metro median among 889 neighborhoods, which aligns with leasing stability rather than heavy concessions. Median contract rent growth has trended upward over the last five years, though effective pricing power should be managed alongside local affordability considerations.
Within a 3‑mile radius, household counts increased over the last five years while average household size declined, suggesting more, smaller households entering the rental market. Forward‑looking projections indicate additional household growth and a smaller average household size, supporting a broader tenant funnel and potential absorption, even if near‑term population trends fluctuate. These dynamics typically favor studios and smaller formats as part of a diversified unit mix.
The asset’s 1977 vintage is slightly newer than the neighborhood’s average construction year (1972). For investors, that points to competitive positioning versus older stock while still warranting targeted capital planning for aging systems and common‑area modernization to enhance renter appeal and reduce near‑term maintenance risk.
Home values in the neighborhood are elevated compared with national benchmarks, which tends to sustain reliance on rental housing rather than ownership. That context can support retention and steady occupancy, though rent‑to‑income ratios signal affordability pressure that should be reflected in lease management and renewal strategies.
Crime conditions should be assessed with care. Compared with neighborhoods nationwide, safety indicators benchmark below average; relative to the New York–Jersey City–White Plains metro, the neighborhood sits around the middle of the pack among 889 neighborhoods. Recent data also show a year‑over‑year decline in estimated violent offenses, suggesting some directional improvement, though investors should still underwrite security measures and insurance accordingly.
Nearby Manhattan employment anchors broaden the renter pool and support commute convenience for workforce tenants. Key employers within roughly four miles include JetBlue Airways, Loews, Disney ABC Television Group, Ralph Lauren, and Estée Lauder.
- Jetblue Airways — airlines HQ and corporate (4.1 miles) — HQ
- Loews — diversified holdings HQ (4.1 miles) — HQ
- Disney ABC Television Group — media offices (4.1 miles)
- Ralph Lauren — apparel HQ (4.2 miles) — HQ
- Estee Lauder — cosmetics HQ (4.2 miles) — HQ
607 E 139th St offers exposure to a renter‑heavy South Bronx neighborhood where occupancy is strong and amenity access is a competitive advantage. Based on CRE market data from WDSuite, the area’s elevated renter concentration and above‑median neighborhood occupancy within the metro point to dependable tenant depth. The 1977 vintage provides an opportunity to drive returns through selective renovations and system upgrades while benefiting from proximity to Manhattan employment centers.
Investors should balance elevated home values that reinforce rental demand with rent‑to‑income pressures that call for careful pricing and renewal tactics. School quality benchmarks below national averages and safety indicators that lag national norms are underwriting considerations, but directional improvement in violent‑crime trends and strong services density help support leasing continuity.
- Renter‑heavy neighborhood and above‑median occupancy support stable tenancy
- Urban amenity density (groceries, pharmacies, restaurants, parks) strengthens retention
- 1977 vintage with value‑add and systems upgrade potential versus older local stock
- Access to major Manhattan employers broadens the tenant base and leasing funnel
- Risks: affordability pressure, lower school ratings, and below‑average national safety benchmarks