| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Best |
| Demographics | 39th | Poor |
| Amenities | 80th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 685 E 233rd St, Bronx, NY, 10466, US |
| Region / Metro | Bronx |
| Year of Construction | 1925 |
| Units | 26 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
685 E 233rd St Bronx Multifamily Investment Opportunity
Neighborhood fundamentals point to durable renter demand and above-median occupancy for the area, according to WDSuite s CRE market data. Investor focus centers on a deep renter base and proximity to major employment hubs within New York City.
Located in an Urban Core setting of the Bronx, the property benefits from a renter-occupied share of housing that is high for the neighborhood, supporting a deeper tenant base and steadier leasing. Neighborhood occupancy has trended above the national median, which can help stabilize collections and reduce downtime between turns (metrics reflect the neighborhood, not the property).
Daily needs are well served: neighborhood access to grocery and pharmacies ranks in the top quartile nationally, and restaurants are dense for an urban borough. By contrast, cafés and park space are limited locally, which may modestly affect lifestyle appeal relative to other New York-Jersey City-White Plains metro neighborhoods.
Median home values in the neighborhood are elevated and in the top decile nationally. In this kind of high-cost ownership market, multifamily assets can benefit from sustained renter reliance on apartments, supporting pricing power and lease retention. With a rent-to-income ratio around 0.29 at the neighborhood level, operators should monitor affordability pressure as part of revenue management and renewal strategies.
The average construction year for neighborhood stock skews older (1950), while this asset a0was built in 1989. Newer vintage relative to the area can enhance competitive positioning versus older buildings, though three-decade-old systems may still warrant ongoing capital planning for modernization and efficiency upgrades.
Within a 3-mile radius, demographics show a slight population dip in recent years alongside growth in household counts and rising incomes; forward-looking projections indicate modest population growth and a continued increase in households. For investors, a growing household base with smaller average household sizes points to a larger renter pool and supports occupancy stability over the medium term (based on CRE market data from WDSuite).
Safety indicators for the neighborhood trend below national averages, with reported violent and property offense rates placing the area in lower national percentiles compared to neighborhoods nationwide. Relative to the New York-Jersey City-White Plains metro, the neighborhood ranks around the middle of the pack among 889 neighborhoods, indicating crime exposure that investors should underwrite conservatively.
Recent year-over-year trends show improvement, with estimated violent offenses down and property offenses declining at the neighborhood level. Operators typically address these dynamics through standard risk management measures, resident engagement, and physical security investments as appropriate for the submarket context.
Nearby corporate offices provide a diversified white-collar employment base that supports renter demand and commute convenience, notably in IT services, media, hospitality, and airlines.
- Cognizant IT services (7.9 miles)
- Cognizant Technology Solutions IT services (7.9 miles) HQ
- Disney ABC Television Group media (10.5 miles)
- Loews hospitality (10.7 miles) HQ
- Jetblue Airways airlines (10.7 miles) HQ
This 26-unit asset at 685 E 233rd St was built in 1989, giving it an edge over the neighborhood 19s older building stock while still warranting targeted system upgrades. Investor appeal centers on a high neighborhood renter concentration, above-median occupancy, and an ownership market with elevated home values that reinforces multifamily demand, according to CRE market data from WDSuite.
Within a 3-mile radius, households have increased and are projected to grow further even as average household size trends smaller, expanding the renter pool and supporting lease-up and retention. Operators should pair this demand backdrop with disciplined affordability and safety underwriting, given a neighborhood rent-to-income ratio near 0.29 and safety metrics that trail national norms.
- Newer 1989 vintage versus local stock supports competitive positioning with targeted modernization upside.
- High neighborhood renter concentration and above-median occupancy support demand depth and leasing stability.
- Elevated neighborhood home values sustain reliance on rentals, aiding pricing power and renewals.
- 3-mile household growth and smaller household sizes point to a larger renter base over time.
- Risks: neighborhood safety lags national norms and rent-to-income near 0.29 requires careful lease management.