| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Good |
| Demographics | 17th | Poor |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 230 Echo Pl, Bronx, NY, 10457, US |
| Region / Metro | Bronx |
| Year of Construction | 2007 |
| Units | 29 |
| Transaction Date | 2006-08-02 |
| Transaction Price | $500,000 |
| Buyer | NOT AVAILABLE FROM THE DATA SOURCE |
| Seller | NOT AVAILABLE FROM THE DATA SOURCE |
230 Echo Pl Bronx Multifamily — 2009, 29 Units
Neighborhood occupancy trends are steady and renter demand is reinforced by a high-cost ownership market, according to WDSuite’s CRE market data. For investors, this points to durable leasing in a transit-served Bronx urban core location.
This Urban Core Bronx location offers daily convenience that supports renter retention: dense coverage of grocery, pharmacy, parks, and dining places the neighborhood in the top tier nationally for amenities, per WDSuite. That level of walkable access typically underpins steady absorption and reduces reliance on car-based commutes.
Neighborhood occupancy is high (measured for the neighborhood, not the property), and renter-occupied share is very elevated, indicating a deep tenant base and consistent leasing velocity. Median home values sit at the high end for the region, creating a high-cost ownership market that tends to sustain rental housing reliance and supports pricing power when managed carefully.
Within a 3-mile radius, demographics show households increased over the past five years and are projected to expand further through 2028 as average household size trends lower. This shift points to a larger renter pool and steady demand for smaller formats, aligning with the property’s average unit size.
Vintage matters for competitiveness: the surrounding housing stock skews older (average year built 1952), while this asset’s 2009 construction offers relative positioning advantages versus legacy inventory. Investors should still plan for selective system updates and common-area refreshes typical of assets approaching mid-life to protect occupancy and renewal outcomes.
Safety indicators for the neighborhood track below national averages; however, WDSuite data show recent year-over-year declines in both violent and property offenses, suggesting improving momentum. Interpreted alongside strong amenity density and transit access, investors should underwrite with conservative assumptions and align security and lighting upgrades with operational best practices rather than relying solely on trend improvements.
Proximity to Manhattan corporate offices broadens the commuter tenant base and supports weekday leasing stability. Notable nearby employers include Cognizant, Disney ABC Television Group, Loews, and Ralph Lauren, with additional headquarters presence that reinforces professional employment density.
- Cognizant — technology & consulting offices (5.6 miles)
- Cognizant Technology Solutions — technology & consulting offices (5.6 miles) — HQ
- Disney ABC Television Group — media (6.6 miles)
- Loews — diversified holding company (6.8 miles) — HQ
- Ralph Lauren — apparel & retail (6.9 miles) — HQ
230 Echo Pl is a 2009-built, 29-unit asset positioned in a renter-dominant Bronx neighborhood where occupancy remains elevated and daily amenities are plentiful. Based on multifamily property research from WDSuite, neighborhood occupancy has held firm while the 3-mile area shows household growth and smaller household sizes, signaling a larger tenant base and steady demand for efficiently sized units.
The surrounding market’s high ownership costs reinforce rental reliance, supporting lease retention and pricing power when managed alongside affordability considerations. Relative to older local stock, the property’s vintage offers competitive positioning and potential to capture renewals with modest modernization and targeted common-area upgrades. Key risks include affordability pressure and safety perceptions, which warrant conservative underwriting and proactive operations.
- High neighborhood occupancy and deep renter concentration support leasing stability
- 2009 construction competes well against older local stock; scope for targeted value-add
- Amenity-rich Urban Core location aids retention and reduces friction in daily living
- Household growth and smaller household sizes within 3 miles expand the renter pool
- Risks: affordability pressure and below-average safety metrics require tight lease and OPEX management