| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Poor |
| Demographics | 76th | Best |
| Amenities | 42nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 829 Bronx River Rd, Bronxville, NY, 10708, US |
| Region / Metro | Bronxville |
| Year of Construction | 1975 |
| Units | 37 |
| Transaction Date | 2011-02-01 |
| Transaction Price | $6,500,000 |
| Buyer | Bronx River Rd. |
| Seller | Vikrok Assoc Corp. |
829 Bronx River Rd, Bronxville NY — Multifamily Investment Outlook
Stabilizing neighborhood occupancy and a deep 3-mile renter base signal durable demand, according to WDSuite’s CRE market data, with income levels supportive of mid-market rents.
Bronxville’s inner-suburban location offers commuter access and daily conveniences, with strong park access (high national percentile) and ample pharmacy coverage supporting livability. Restaurant density sits above national norms, while cafe and grocery density is thinner in the immediate blocks, suggesting residents may rely on nearby submarkets for certain errands. Average school ratings are above the national median, which can aid retention for family-oriented renters.
At the neighborhood level, multifamily occupancy is about 94% and has trended up over the past five years (above the national median by percentile), indicating steady leasing fundamentals. Median contract rents in the neighborhood test in a higher national percentile, but a modest rent-to-income ratio points to manageable affordability pressure, which can support lease stability and lower turnover risk.
Vintage context matters: the property was built in 1975, while the local housing stock skews older (1950s on average). This relative age positioning can be competitive versus older buildings, though investors should still plan for system modernization and targeted common-area upgrades to protect rent positioning.
Renter-occupied housing accounts for roughly 28% of neighborhood units (ranked against 889 metro neighborhoods), indicating a meaningful—though not dominant—renter concentration. Within a 3-mile radius, households and families have grown in recent years and are projected to expand further, pointing to a larger tenant base over the mid-term. Income levels in the 3-mile area are high by national standards, supporting demand for well-managed workforce and mid-market units.
NOI per unit benchmarks for the neighborhood sit in the top quartile nationally, signaling operational potential where renovations and management execution are aligned with local preferences. Median home values are moderate for the region by percentile, which can create some competition from ownership options; thoughtful amenity programming and resident services can help sustain pricing power and retention.
Safety indicators compare favorably at the national level. Violent offense rates are in the top quartile nationally for safety, and property offenses are above the national median for safety. Year over year, property offenses show a modest decline, while violent offenses ticked up slightly, a mixed but manageable trend that investors should monitor.
Compared with other neighborhoods in the New York–Jersey City–White Plains metro (889 neighborhoods total), the area is competitive on several safety metrics, though conditions can vary block to block. Owners typically address this with lighting, access control, and resident engagement to support retention and leasing.
Regional employment anchors within commuting distance include financial services, IT consulting, and global consumer brands, supporting a diverse renter pool and weekday demand. The list below reflects nearby offices and headquarters that contribute to white-collar employment depth relevant to leasing stability.
- Citizens Bank Home Mortgages — financial services (8.8 miles)
- Cognizant Technology Solutions — IT consulting (9.3 miles) — HQ
- Mastercard — payments (9.6 miles) — HQ
- PepsiCo — consumer packaged goods (10.8 miles) — HQ
- XPO Logistics — transportation & logistics (12.0 miles) — HQ
This 37-unit 1975 vintage asset sits in an inner-suburban corridor where occupancy has held above national norms and trended upward, indicating resilient renter demand. Relative to the neighborhood’s older housing stock, 1970s construction can provide a competitive edge, with targeted modernization (systems, interiors, and curb appeal) supporting rent positioning and resident retention. Within a 3-mile radius, population and household growth, coupled with high median incomes, broaden the tenant base and reduce lease-up risk. According to commercial real estate analysis from WDSuite, neighborhood NOI per unit benchmarks rank in the top quartile nationally, suggesting operational upside where execution is disciplined.
Affordability signals are balanced: neighborhood rents index higher nationally, yet rent-to-income levels indicate manageable pressure that can support renewals. Median home values are moderate by regional standards, which may create some competition from ownership; however, proximity to diverse employers and steady household growth underpin multifamily demand over the medium term. Amenity density is mixed—parks are a strength while immediate cafe/grocery options are lighter—so on-site conveniences and service consistency can further enhance retention.
- Occupancy above national norms with multi-year improvement supports cash flow stability.
- 1975 vintage offers value-add via targeted system upgrades and interior refreshes versus older local stock.
- 3-mile growth in households and strong incomes expand the renter base and support lease retention.
- Top-quartile neighborhood NOI per unit (nationally) points to operational upside with disciplined management.
- Risks: moderate ownership accessibility and lighter immediate retail amenities may require stronger on-site services and competitive positioning.