| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Poor |
| Demographics | 42nd | Poor |
| Amenities | 78th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3479 Fort Independence St, Bronx, NY, 10463, US |
| Region / Metro | Bronx |
| Year of Construction | 2006 |
| Units | 27 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3479 Fort Independence St Bronx 27-Unit Multifamily Investment
Neighborhood occupancy remains steady and renter demand is deep, according to WDSuite s CRE market data, supporting income durability for a professionally managed asset. The property competes against an older local stock, which can aid leasing and retention.
Situated in the Bronx s Urban Core, the property benefits from a renter-driven area where an estimated 82.5% of housing units are renter-occupied at the neighborhood level. For investors, that concentration indicates a broad tenant base and supports leasing velocity and renewal depth, while the neighborhood s reported occupancy near the mid-90s is above the metro median and competitive among New York Jersey City White Plains neighborhoods, based on CRE market data from WDSuite.
Daily needs are well covered: grocery and pharmacy access rank in the top percentile nationally, and restaurants are also strong at a high national percentile. Parks and childcare availability score above most neighborhoods nationwide, while cafes are comparatively sparse. These amenity patterns reinforce convenience for workforce households but suggest limited caf e9 density as a lifestyle tradeoff.
Schools in the immediate area trend modest, with average ratings near the national midpoint, which can influence family renter preferences but does not typically deter core workforce demand. Median home values in the neighborhood are lower relative to national markets; in investor terms, a more accessible ownership landscape can create some competition for price-sensitive renters, making product differentiation and service quality important for retention.
Within a 3-mile radius, demographics show households have increased in recent years even as population edged down slightly, pointing to smaller household sizes and a gradually expanding renter pool. Forward-looking projections call for additional household growth by 2028, which would support occupancy stability and depth of demand if realized. Contract rents have trended upward over five years in the neighborhood and broader 3-mile area, indicating pricing power, though a rent-to-income ratio near one-third suggests affordability pressure that warrants disciplined lease management.
Vintage also matters: the asset s 2008 construction year is newer than much of the local housing stock (which skews mid-20th century). That positioning typically improves competitive appeal versus older walk-up inventory, while investors should still plan for targeted system updates and common-area refreshes over a long hold.
Safety indicators for the neighborhood trend below both national and metro benchmarks. Based on WDSuite s CRE market data, overall crime ranks in the lower half of the New York Jersey City White Plains metro (ranked 483 out of 889 neighborhoods), and national comparisons place the area well below the top quartiles for safety. Violent and property offense rates sit in low national percentiles, signaling a comparatively higher-risk profile versus many U.S. neighborhoods.
Recent year-over-year readings indicate a modest uptick in property offenses. Investors typically underwrite with enhanced security measures, well-lit common areas, and proactive resident engagement to support retention and mitigate loss exposure. As always, block-level conditions can vary; property- and operator-level practices play a meaningful role in outcomes.
Proximity to major corporate offices supports commuter convenience and a steady renter pipeline. Notable employers within a roughly 6 9 mile radius include technology services and media headquarters, as well as diversified corporate offices that can bolster weekday demand and lease stability.
- Cognizant technology services (5.66 miles)
- Cognizant Technology Solutions technology services (5.68 miles) HQ
- Disney ABC Television Group media & entertainment offices (8.65 miles)
- Loews diversified holdings (8.94 miles) HQ
- Ralph Lauren retail & fashion (9.00 miles) HQ
This 27-unit asset, built in 2008, stands newer than most nearby inventory and should compare favorably against mid-century stock while leaving room for targeted modernization over time. The neighborhood s renter-occupied share is very high, and occupancy has held in the mid-90s, pointing to durable tenant demand and renewal depth. Within a 3-mile radius, households have grown and are projected to expand further, which supports a larger tenant base and helps underpin leasing stability. According to CRE market data from WDSuite, neighborhood rents have moved higher over the last five years, suggesting pricing power balanced by the need to manage rent-to-income thresholds.
Key considerations include local safety metrics that trail metro and national benchmarks and a more accessible ownership market that can create competition for value-oriented renters. Operators who emphasize maintenance, responsiveness, and product quality typically sustain retention and mitigate concessions in this type of submarket.
- Newer 2008 construction versus older neighborhood stock supports leasing competitiveness with selective value-add potential
- High renter-occupied share and competitive neighborhood occupancy underpin demand and renewal prospects
- Household growth within 3 miles and projected expansion increase the renter pool and support occupancy stability
- Upward rent trend per WDSuite data indicates pricing power with attention to rent-to-income levels
- Risks: below-average safety readings and relatively accessible ownership options may require enhanced operations and product differentiation