| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Best |
| Demographics | 25th | Poor |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 895 Fairmount Pl, Bronx, NY, 10460, US |
| Region / Metro | Bronx |
| Year of Construction | 1931 |
| Units | 32 |
| Transaction Date | 2021-06-29 |
| Transaction Price | $8,081,059 |
| Buyer | AHC HOMES HOUSING DEVELOPMENT FUND CORPO |
| Seller | NEW YORK EQUITY FUND 1995 LIMITED PARTNE |
895 Fairmount Pl, Bronx — Multifamily Investment Positioning
Renter demand is supported by an Urban Core location, a high neighborhood share of renter-occupied units, and occupancy that has held near metro norms, according to WDSuite’s CRE market data. 1996 construction offers a relatively newer asset profile for the Bronx with potential to compete against older stock.
Situated in the Urban Core of the Bronx, the property benefits from dense amenity coverage and daily-needs convenience. The neighborhood ranks 39th out of 889 metro neighborhoods for amenities and sits in the top quartile nationally for cafes, groceries, parks, pharmacies, and restaurants, indicating strong walkable access that can aid leasing and retention.
From a rental housing standpoint, neighborhood occupancy has been steady around the metro median, while renter-occupied housing accounts for a very high share of units (among the highest in the metro and top quartile nationally). For investors, that points to a deep tenant base and durable multifamily demand even as cycles turn.
Within a 3-mile radius, recent trends show modest population movement but an increase in households alongside smaller average household sizes. Projections point to further household growth and a smaller household size by the mid-term, which typically expands the renter pool and supports occupancy stability for well-located properties.
Home values in the neighborhood are elevated versus many U.S. areas (upper national percentiles), reinforcing reliance on rental options and supporting sustained demand for multifamily units. Median contract rents have risen over the past five years, and while rent-to-income ratios indicate some affordability pressure, that mainly argues for thoughtful lease management rather than undermining demand.
Neighborhood NOI per unit benchmarks are strong relative to peers in the metro and high nationally, based on CRE market data from WDSuite. Average school ratings in the area are below national medians; investors should underwrite demand drivers tied more to access, services, and commuting convenience than to school-driven premiums.
Safety metrics in this neighborhood track closer to the middle of the New York–Jersey City–White Plains metro but trend weaker when compared with national norms. For underwriters, the key consideration is trajectory: recent data shows year-over-year declines in violent offenses and property offenses, suggesting gradual improvement that should be monitored rather than assumed.
In metro terms, the neighborhood’s overall crime rank is around the middle of 889 neighborhoods, while national percentiles signal a comparatively higher-crime environment. Investors often address this with security enhancements and resident engagement, balancing cost with leasing benefits and tenant retention.
Regional employment access is driven by nearby Manhattan corporate offices within roughly 7 miles, supporting commuter convenience and a stable renter base. Key employers include Cognizant Technology Solutions, Disney ABC Television Group, JetBlue Airways, Loews, and Ralph Lauren.
- Cognizant Technology Solutions — IT services (6.7 miles) — HQ
- Disney ABC Television Group — media (6.8 miles)
- Jetblue Airways — airline (6.8 miles) — HQ
- Loews — holding company (6.9 miles) — HQ
- Ralph Lauren — apparel (7.0 miles) — HQ
Built in 1996, this 32-unit asset is newer than much of the surrounding housing stock, offering competitive positioning versus older properties while leaving room for targeted upgrades. Neighborhood dynamics favor multifamily: a very high share of renter-occupied units, steady occupancy near metro norms, and elevated ownership costs that reinforce reliance on rental housing. Within a 3-mile radius, households have increased and are projected to grow further as average household size trends lower, a setup that typically supports renter pool expansion.
Rents have risen in recent years, though rent-to-income ratios suggest prudent affordability and renewal strategies are warranted. According to CRE market data from WDSuite, the area’s NOI per unit benchmarks are strong nationally, while amenity density provides day-to-day convenience that can aid leasing and retention. Key underwriting considerations include safety perception and below-average school ratings, both manageable with property-level enhancements and service quality.
- Urban Core location with top-tier amenity access supporting leasing and retention
- 1996 vintage provides competitive edge versus older local stock with selective value-add potential
- Deep renter base and occupancy near metro norms underpin demand stability
- Strong neighborhood NOI per unit benchmarks and rising rents support long-term income growth potential
- Risks: affordability pressure (high rent-to-income), safety perception, and lower school ratings require active management