| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Good |
| Demographics | 23rd | Poor |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 671 Kelly St, Bronx, NY, 10455, US |
| Region / Metro | Bronx |
| Year of Construction | 1910 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
671 Kelly St Bronx Multifamily with Durable Renter Demand
Neighborhood occupancy is strong and renter demand is deep in this Urban Core pocket of the Bronx, according to WDSuite’s CRE market data, supporting stable operations for well-managed assets. Newer construction relative to the area helps competitive positioning while pricing should reflect local affordability dynamics.
Located at 671 Kelly St in the Bronx, the property sits in an Urban Core neighborhood with a track record of leasing stability. Neighborhood occupancy is above the metro median and in the top quartile nationally, signaling dependable renter demand that can support steady collections and lower downtime for comparable assets.
The area is heavily renter-occupied, indicating a large tenant base and consistent demand for multifamily units. This depth of renter concentration tends to support leasing velocity and renewal potential, particularly for functional layouts and professionally managed buildings.
Daily-living amenities are a relative strength: neighborhood counts of groceries, pharmacies, restaurants, and parks rank near the top among metro peers and test high nationally. From an operations standpoint, these amenity fundamentals help with resident retention and broaden the applicant pool without relying on destination retail.
Schools in the neighborhood score below national averages, which may tilt the resident mix more toward workforce and adult households rather than family-driven demand. Home values are elevated for the region, and the value-to-income relationship trends high; in practice, this is a high-cost ownership market that tends to reinforce reliance on rental housing and supports pricing power when units are well-maintained.
Demographic statistics aggregated within a 3-mile radius indicate modest population growth historically, with forecasts pointing to additional increases in households and smaller average household sizes over the next five years. For investors, that combination generally expands the renter pool and supports occupancy stability for competitively positioned stock.
Safety indicators are mixed. The neighborhood is competitive among New York-Jersey City-White Plains neighborhoods (ranked 346 out of 889 by WDSuite for overall crime), yet comparative national positioning is weaker. Recent trend data show year-over-year decreases in both violent and property offense rates, which is a constructive directional signal, but levels remain below national percentiles. Operators typically account for this with security-minded site practices and resident screening.
Proximity to Midtown and major corporate offices supports a broad commuter tenant base and can aid lease retention for workforce renters. Key nearby employers include JetBlue Airways, Disney ABC Television Group, Loews, Ralph Lauren, and Est e9e Lauder.
- JetBlue Airways airlines HQ operations (4.9 miles) HQ
- Disney ABC Television Group media offices (5.0 miles)
- Loews diversified holdings (5.0 miles) HQ
- Ralph Lauren apparel & lifestyle (5.1 miles) HQ
- Est e9e Lauder beauty & personal care (5.1 miles) HQ
Built in 2001, the 20-unit asset is newer than the neighborhood’s average vintage, providing a relative edge versus older housing stock while still warranting mid-life capital planning for systems and finishes. Neighborhood occupancy reads strong and renter concentration is high, which, based on commercial real estate analysis from WDSuite, supports durable demand for well-managed multifamily units in this Urban Core location.
Amenity density (groceries, restaurants, pharmacies, parks) ranks high locally and nationally, aiding retention and leasing velocity. Elevated ownership costs in the area continue to sustain reliance on rental housing, though local rent-to-income levels imply affordability pressure that calls for disciplined lease management and renewal strategies. Given the below-average school ratings and safety positioning versus national norms, underwriting should reflect pragmatic operating practices and community engagement.
- Newer 2001 vintage relative to area stock supports competitive positioning with manageable mid-life CapEx planning.
- Strong neighborhood occupancy and high renter-occupied share indicate depth of tenant demand and leasing stability.
- Dense amenity base (groceries, restaurants, pharmacies, parks) enhances resident retention and broadens the applicant pool.
- High-cost ownership market reinforces rental reliance, with pricing power tempered by local rent-to-income considerations.
- Risks: below-average school ratings and weaker national safety percentiles require attentive operations and thoughtful community-oriented practices.