| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 27th | Poor |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1650 Undercliff Ave, Bronx, NY, 10453, US |
| Region / Metro | Bronx |
| Year of Construction | 2013 |
| Units | 81 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1650 Undercliff Ave Bronx Multifamily Investment Thesis
Neighborhood fundamentals point to durable renter demand and high occupancy in the surrounding Bronx submarket, according to WDSuite’s CRE market data. The area’s renter concentration and amenity depth support leasing stability while suggesting disciplined pricing and renewal management.
This Urban Core location benefits from strong daily-life amenities that help sustain renter appeal. Grocery, restaurant, café, park, and pharmacy access rank in the upper tiers nationally, with the neighborhood’s amenity profile competitive among New York–Jersey City–White Plains neighborhoods and in the top percentiles nationwide. These patterns typically support retention and minimize friction on day-to-day convenience for residents.
Operationally, neighborhood occupancy is elevated and sits in the top quartile nationally, reinforcing a stable leasing backdrop (measured for the neighborhood, not the property). Net operating income per unit also scores in a high national percentile, which aligns with healthy renter demand. The renter-occupied share is very high, indicating deep tenant pools that can support sustained absorption for professionally managed apartment assets.
Construction in the area skews older (average year 1952 when ranked against 889 metro neighborhoods), so a 2013 asset can compete well versus legacy stock while still warranting routine system updates over time. School ratings trend below national norms, which may limit family-driven demand segments; however, the amenity-rich setting and transit-oriented urban fabric continue to draw working-age renters.
Within a 3-mile radius, households increased while population was roughly flat in recent years, indicating smaller household sizes and a larger pool of renting households. Looking ahead, forecasts call for additional household growth and rising incomes, which can expand the renter base and support occupancy stability. Median home values in the area are moderate for the region, but a high-cost ownership environment across much of the metro and elevated rent-to-income ratios here point to careful lease management to balance pricing power with retention.
Safety indicators for the neighborhood are below national averages, with crime ranked 411 among 889 metro neighborhoods and national percentiles that trail safer areas. In national terms, violent and property offense rates sit in low percentiles, signaling a higher relative incidence than many neighborhoods nationwide.
Trend data are important for context: year-over-year estimates indicate declines in both violent and property offenses, placing the neighborhood near the middle of national improvement trends. Investors typically account for this by underwriting security measures, emphasizing lighting and access controls, and aligning operations with resident expectations while monitoring continued trajectory at the neighborhood level.
Nearby corporate offices and headquarters within a commutable radius support workforce housing demand and leasing stability, including Cognizant, Disney ABC Television Group, Loews, Ralph Lauren, and Estée Lauder.
- Cognizant — corporate offices (4.7 miles)
- Cognizant Technology Solutions — corporate offices (4.8 miles) — HQ
- Disney ABC Television Group — media corporate offices (6.1 miles)
- Loews — diversified holdings (6.4 miles) — HQ
- Ralph Lauren — apparel corporate offices (6.5 miles) — HQ
1650 Undercliff Ave was built in 2013, positioning it competitively against an older neighborhood inventory while tapping into a deep renter base. Elevated neighborhood occupancy and strong amenity access underpin stable operations, while a very high renter-occupied share signals sustained demand depth. Based on CRE market data from WDSuite, local income growth and expanding households within a 3-mile radius point to a larger tenant base over the medium term, though elevated rent-to-income ratios call for prudent renewal strategies.
Key considerations include underwriting for below-average school ratings and safety metrics that sit below national norms, offset by year-over-year crime moderation, proximity to major employment nodes, and the property’s relative competitive edge versus older stock. The thesis favors steady cash flow focus with measured rent growth calibrated to retention.
- 2013 vintage competes well versus older neighborhood stock, limiting near-term capex to targeted modernization.
- High neighborhood occupancy and deep renter-occupied share support leasing stability and absorption.
- Amenity-rich Urban Core location enhances retention and day-to-day livability for working renters.
- Household growth and income gains within 3 miles expand the tenant base and support long-run demand.
- Risks: below-average school ratings, safety metrics below national averages, and rent-to-income pressure require disciplined lease management.