| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Good |
| Demographics | 23rd | Poor |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1771 Monroe Ave, Bronx, NY, 10457, US |
| Region / Metro | Bronx |
| Year of Construction | 2012 |
| Units | 86 |
| Transaction Date | 2012-03-14 |
| Transaction Price | $2,050,000 |
| Buyer | SOBRO MONROE COURT HOUSING DEVELOPMENT F |
| Seller | NYC PARTNERSHIP HOUSING DEVELOPMENT FUND |
1771 Monroe Ave Bronx Multifamily: 2012 Vintage, Dense Renter Base
Neighborhood fundamentals indicate high occupancy stability and a deep renter pool, according to WDSuite s CRE market data. Positioning a newer 2012 asset in an urban-core submarket with sustained renter demand can support steady leasing while allowing selective value-add execution.
The property s 2012 construction is materially newer than the neighborhood s older housing stock (average vintage 1958), giving it a competitive edge versus legacy buildings. For investors, a newer asset profile can reduce near-term capital planning needs while still leaving room for targeted upgrades to drive rent premiums over dated comparables.
Local renter demand is substantial: the neighborhood shows a very high share of renter-occupied housing units, signaling a large and durable tenant base for multifamily. Occupancy in the neighborhood is strong and sits in a high national percentile, providing context for lease-up resilience and retention management in similar assets nearby, based on multifamily property research from WDSuite.
Everyday amenities are a clear strength. The area ranks highly for access to grocery, parks, pharmacies, and restaurants (nationally strong percentiles), which supports resident convenience and helps underpin renter appeal. Average school ratings in the neighborhood are lower relative to national benchmarks, which may influence unit-mix and marketing strategies toward working-age renters rather than family-centric positioning.
Within a 3-mile radius, demographics show a slight population dip over the last five years but growth in household counts, expanding the addressable renter base even as household sizes trend smaller. Forward-looking data points to additional increases in households and rising median incomes, which can support rent levels and occupancy stability. Elevated local home values relative to broader markets indicate a high-cost ownership environment that tends to reinforce reliance on rental housing, supporting depth of demand for well-maintained apartments.
Safety metrics for the neighborhood track below national averages (national percentiles indicate comparatively higher crime than many U.S. neighborhoods). However, recent trend data shows improvement, with both property and violent offense rates declining year over year. In the New York Jersey City White Plains metro context of 889 neighborhoods, this area s crime ranking places it competitive among several urban-core peers rather than at the bottom of the metro distribution. Investors typically account for these dynamics through security features, lighting, and resident engagement to support retention.
- Cognizant corporate services (5.6 miles)
- Cognizant Technology Solutions corporate services (5.6 miles) HQ
- Disney ABC Television Group media (6.3 miles)
- Loews diversified holdings (6.5 miles) HQ
- Ralph Lauren apparel & lifestyle (6.6 miles) HQ
Proximity to major Midtown employers supports a large commuter renter base, with corporate services, media, and diversified headquarters within a roughly 6 7 mile radius that can help sustain leasing and retention for workforce housing.
An 86-unit, 2012-vintage asset in an urban-core Bronx location benefits from a renter-dense neighborhood with high occupancy levels and strong access to daily amenities. According to CRE market data from WDSuite, the neighborhood s occupancy performance sits in a high national percentile and renter-occupied share is exceptionally elevated, supporting a deep tenant base and durable demand for multifamily. Newer construction relative to the area s mid-century average offers competitive positioning versus older stock while still leaving scope for selective value-add to common areas and in-unit finishes.
Within a 3-mile radius, household counts have increased and are projected to continue rising even as household sizes trend smaller, which typically expands the renter pool and supports occupancy stability. Elevated home values in the neighborhood indicate a high-cost ownership market that tends to sustain multifamily demand. Key watch items include below-average school ratings, safety metrics that require ongoing property-level measures, and rent-to-income pressure that calls for deliberate lease management and renewal strategies.
- 2012 vintage competes well against older neighborhood stock; targeted upgrades can drive incremental rent.
- High neighborhood occupancy and strong renter concentration support leasing stability and retention.
- Amenity-rich urban core location enhances resident convenience and marketability.
- 3-mile household growth and smaller household sizes point to a larger renter pool over time.
- Risks: below-national safety percentiles and rent-to-income pressure require prudent screening, renewals, and expense control.