| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Good |
| Demographics | 19th | Poor |
| Amenities | 97th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 841 Longfellow Ave, Bronx, NY, 10474, US |
| Region / Metro | Bronx |
| Year of Construction | 1922 |
| Units | 25 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
841 Longfellow Ave Bronx Multifamily Investment
High renter concentration in the surrounding neighborhood supports a deep tenant base and occupancy that trends above national medians, according to WDSuite’s CRE market data. These metrics reflect neighborhood conditions, not the property’s own occupancy.
Situated in the Bronx Urban Core, the property benefits from amenity density that ranks among the nation’s stronger clusters — grocery, restaurants, parks, and pharmacies are all in top percentiles nationally — which tends to support renter retention and day-to-day convenience for residents. Average school ratings in the area are weaker, a consideration for family-oriented leasing strategies and unit mix planning.
Neighborhood-level occupancy is above the national median, reinforcing stability for multifamily assets, while the share of renter-occupied housing units is high (roughly mid-80s), indicating strong depth of demand for apartments. Median contract rents sit around the low $1,200s at the neighborhood level and have risen over the past five years, suggesting ongoing pricing power but also the need for careful lease management.
Within a 3-mile radius, households have grown in recent years and are projected to increase further by 2028, even as average household size trends smaller — dynamics that typically expand the renter pool and support occupancy stability. At the same time, this is a high-cost ownership market relative to incomes, with elevated home values reinforcing renter reliance on multifamily housing rather than competing ownership options.
Vintage matters for competitiveness: the property’s 1997 construction is newer than much of the neighborhood’s older housing stock (average vintage is early-1950s). That positioning can reduce near-term obsolescence risk versus older assets while still leaving room for targeted system upgrades and interior modernization to enhance revenue and reduce future capital surprises.
Safety trends should be evaluated carefully. Neighborhood crime indicators are less favorable than national norms, though recent data shows violent offense rates moving lower year over year. Relative to the broader New York–Jersey City–White Plains metro, the area sits around the middle of the pack, and operators often focus on lighting, access control, and community engagement to support resident experience.
Investors should underwrite security line items, vendor partnerships, and timing of improvements, and compare on-the-ground observations with trend data to gauge how recent declines may translate into operational reality.
Proximity to major corporate employers supports a broad commuter tenant base and can aid retention through commute convenience. Nearby anchors include JetBlue, Loews, Disney ABC Television Group, Ralph Lauren, and Estée Lauder.
- Jetblue Airways — airline HQ & corporate offices (5.4 miles) — HQ
- Loews — diversified holdings corporate offices (5.8 miles) — HQ
- Disney ABC Television Group — media offices (5.9 miles)
- Ralph Lauren — apparel corporate offices (5.9 miles) — HQ
- Estee Lauder — beauty corporate offices (5.9 miles) — HQ
This 25-unit, 1997-built asset at 841 Longfellow Ave is positioned in an amenity-rich Bronx neighborhood where renter demand is deep and neighborhood occupancy trends above national medians. The property’s newer vintage relative to the surrounding 1950s-era stock provides a competitive edge, with potential to unlock value through selective renovations and system updates. Elevated home values in the area create a high-cost ownership landscape that tends to sustain reliance on rentals and support lease-up and retention.
Households within a 3-mile radius have been increasing and are projected to grow further, even as household sizes decline — a pattern that typically expands the renter base and supports occupancy stability over time. Based on commercial real estate analysis from WDSuite, rent growth over the past five years and strong amenity access suggest continued demand, though operators should balance pricing with rent-to-income considerations to manage retention.
- Newer 1997 vintage versus older neighborhood stock supports competitiveness with targeted modernization upside
- High share of renter-occupied units indicates a deep tenant base and durable demand
- Amenity-dense Urban Core location aids retention and leasing velocity
- Household growth within 3 miles and smaller household sizes expand the renter pool and support occupancy
- Risks: safety metrics below national norms, weaker school ratings, and affordability pressure requiring careful lease management