| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Poor |
| Demographics | 28th | Poor |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 765 E 166th St, Bronx, NY, 10456, US |
| Region / Metro | Bronx |
| Year of Construction | 1910 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
765 E 166th St, Bronx Multifamily Investment
Renter demand in this Urban Core pocket supports stable occupancy at the neighborhood level, according to WDSuite’s CRE market data. With a 2004 vintage and 32 units, the asset competes against older local stock while offering potential for targeted modernization.
Located in the New York–Jersey City–White Plains metro, the neighborhood surrounding 765 E 166th St carries a B rating and sits above the metro median (rank 378 of 889 neighborhoods), indicating balanced fundamentals that are relevant for multifamily investors. Neighborhood occupancy is strong and in the top decile nationally, pointing to durable lease-up and retention potential at the submarket level.
Livability drivers are a notable strength. Amenity density for groceries, pharmacies, parks, cafés, and restaurants ranks near the top of national comparisons, providing convenience that can aid leasing velocity and resident satisfaction. Average school ratings trend below national norms, which investors should factor into positioning and tenant mix strategies.
The housing landscape shows a very high share of renter-occupied units at the neighborhood level, underscoring depth of the tenant base and supporting demand for professionally managed communities. Median home values are lower relative to national benchmarks; in practice, this means ownership is comparatively more accessible locally, so competitive unit finishes and service levels can help sustain pricing power and retention on the rental side.
Within a 3-mile radius, demographics indicate a large resident base with households increasing over the last five years and projected to rise further by 2028 even as average household size trends smaller. This pattern suggests renter pool expansion and supports occupancy stability. Median household income has been rising, and rents are projected to grow in this radius; effective lease management remains important given elevated rent-to-income ratios reported for the neighborhood. These dynamics align with commercial real estate analysis that emphasizes amenity access and renter concentration as demand anchors.
Vintage context: the property was built in 2004, materially newer than the neighborhood’s older average stock (early 1970s). That relative youth can enhance competitive positioning versus legacy assets, while still leaving room for focused capital projects (e.g., systems upgrades, common-area refresh) to capture value-add upside.
Safety indicators for the neighborhood trend below national averages, with crime measures placing it closer to the lower quartiles nationwide and below the metro average (crime rank 475 of 889). Recent data show a year-over-year decline in violent offense rates, which is a constructive signal, though levels remain elevated compared with many U.S. neighborhoods. Operators should plan for security-conscious property management and community engagement to support resident experience.
Proximity to Midtown employment nodes broadens the renter base, with commutable access to media, airlines, retail, and consumer goods headquarters that can support leasing stability for workforce and professional tenants. The employers below reflect that mix.
- Disney ABC Television Group — media & entertainment offices (5.5 miles)
- Jetblue Airways — airline corporate offices (5.6 miles) — HQ
- Loews — diversified holdings corporate offices (5.6 miles) — HQ
- Ralph Lauren — apparel & retail corporate offices (5.6 miles) — HQ
- Estee Lauder — beauty & consumer goods corporate offices (5.7 miles) — HQ
The investment case centers on durable renter demand and relative vintage advantage. Neighborhood occupancy is high and nationally strong, and NOI per unit among nearby comps ranks near the top of national readings, suggesting a supportive earnings environment for well-operated assets. The 2004 construction provides a competitive edge versus older local inventory while allowing targeted value-add through interior updates, mechanicals, and amenity enhancements. Based on CRE market data from WDSuite, the neighborhood’s very high renter-occupied share and dense amenity access underpin leasing stability, while ownership costs in the area indicate rentals remain an essential housing option.
Forward-looking fundamentals within a 3-mile radius point to a larger household base over the next five years alongside smaller average household sizes, which typically expands the renter pool. At the same time, elevated rent-to-income levels and below-average school ratings call for disciplined revenue management and thoughtful tenant retention strategies. Safety metrics are improving but still require active oversight.
- Strong neighborhood occupancy and top-tier NOI per-unit context support income durability
- 2004 vintage versus older local stock supports competitive positioning and targeted value-add
- Very high renter concentration and dense amenities reinforce leasing and retention
- 3-mile outlook shows more households and smaller sizes, expanding the renter pool
- Risks: elevated rent-to-income ratios, lower school ratings, and below-average safety require active management