| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Good |
| Demographics | 19th | Poor |
| Amenities | 97th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 875 Irvine St, Bronx, NY, 10474, US |
| Region / Metro | Bronx |
| Year of Construction | 1925 |
| Units | 35 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
875 Irvine St Bronx Multifamily Investment Thesis
Neighboring data points indicate durable renter demand and above-median neighborhood occupancy, according to WDSuite’s CRE market data. Metrics referenced are for the surrounding neighborhood, not the property, and point to depth of the tenant base in an Urban Core location.
The immediate area around 875 Irvine St sits within an Urban Core neighborhood graded B and ranked 402 out of 889 within the New York–Jersey City–White Plains metro—placing it above the metro median. Amenity density is a core strength: the neighborhood sits in very high national percentiles for grocery access, restaurants, pharmacies, parks, childcare, and cafes, supporting day-to-day convenience that can aid multifamily retention.
Neighborhood occupancy is above the national median, and the share of housing units that are renter-occupied is high, indicating a deep renter pool and potential for stable leasing. Rents have generally trended upward over the past five years in the area, and home values reflect a high-cost ownership market relative to local incomes—factors that can sustain reliance on rental housing and, with disciplined operations, support pricing power.
Within a 3-mile radius, demographics show a modest population dip in recent years alongside growth in households and smaller average household sizes—conditions that typically expand the renter pool and support occupancy stability. Forward-looking projections within this 3-mile radius point to continued household growth, which should translate into a larger tenant base for well-positioned assets.
The neighborhood’s average construction vintage skews older than this property’s 1992 build year. Being newer than much of the local stock can improve competitive positioning versus legacy buildings, while still leaving room for targeted modernization or systems updates that can unlock value-add upside.
Investor lens: amenity convenience and renter concentration are strengths; school ratings trend below national averages, so family-oriented assets may need to emphasize unit finishes and on-site services. Ownership costs are elevated relative to incomes, which bolsters rental demand but calls for attentive lease management to navigate affordability pressure.
Safety indicators for the neighborhood sit below national norms, with the local rank near the metro midpoint (459 out of 889). In national terms, comparative positioning is weaker, though the most recent year shows some improvement in violent incident trends. Investors often underwrite conservatively here and reinforce operations with lighting, access control, and community engagement.
In summary, conditions are roughly around the metro median but less favorable than many neighborhoods nationwide. Monitoring trend direction and aligning property-level practices to local expectations can help support resident satisfaction and retention.
Nearby corporate offices support commuter-oriented renter demand, with proximity to JetBlue Airways, Loews, Estee Lauder, Ralph Lauren, and Citigroup spanning aviation, hospitality, consumer goods, apparel, and financial services.
- Jetblue Airways — airline (5.4 miles) — HQ
- Loews — hospitality (5.7 miles) — HQ
- Estee Lauder — consumer goods & beauty (5.8 miles) — HQ
- Ralph Lauren — apparel (5.8 miles) — HQ
- Citigroup — financial services (6.0 miles) — HQ
This 1992-vintage asset competes against an older Urban Core stock base, offering relative appeal to renters while preserving value-add potential through targeted renovations and system updates. Neighborhood occupancy trends sit above national medians, and the renter-occupied share is high—both supportive of leasing stability. Based on CRE market data from WDSuite, local amenity access ranks among the metro’s stronger concentrations, which can reinforce retention for well-managed properties.
Looking forward, within a 3-mile radius households are projected to increase while average household size declines, expanding the renter pool and supporting demand for smaller formats. Counterbalancing factors include below-average school ratings and affordability pressure relative to incomes, suggesting a focus on value-forward positioning and disciplined lease management.
- Newer-than-neighborhood vintage (1992) vs. older local stock, with clear modernization/value-add paths
- Above-median neighborhood occupancy and high renter concentration support demand depth
- Strong amenity access nearby bolsters day-to-day convenience and retention
- 3-mile radius outlook points to household growth and a larger tenant base
- Risks: affordability pressure and below-average school ratings warrant conservative underwriting and resident-focused operations