| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Fair |
| Demographics | 58th | Fair |
| Amenities | 82nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 550 Locust St, Mount Vernon, NY, 10552, US |
| Region / Metro | Mount Vernon |
| Year of Construction | 2011 |
| Units | 75 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
550 Locust St, Mount Vernon Multifamily — 2011 Vintage Demand Play
Renter-occupied housing is a majority in the neighborhood and occupancy has held above national norms, according to WDSuite’s CRE market data, supporting sustained leasing for a 2011-built, 75-unit asset.
The property sits in an Urban Core neighborhood of the New York–Jersey City–White Plains metro that is competitive among 889 metro neighborhoods (ranked 271st), with a B+ neighborhood rating based on CRE market data from WDSuite. Proximity to daily‑needs amenities is a strength: neighborhood access to grocery stores, restaurants, parks, and pharmacies ranks in top national percentiles, providing convenience that helps support retention and renter appeal.
The local housing stock skews older (average vintage 1922), so a 2011 construction date positions this asset as relatively newer versus much of the competitive set—typically translating into fewer near-term capital items and stronger curb appeal compared with prewar inventory, while still planning for mid-life system updates as part of capital budgeting.
Renter-occupied share is high in the neighborhood (about 63% of housing units are renter-occupied), indicating a deep tenant base and broad demand for multifamily units. Neighborhood occupancy trends have been resilient and sit above national medians, supporting income durability over the hold period.
Within a 3‑mile radius, demographics show modest population growth and an increase in households over the past five years, with projections calling for further household expansion through the next five years. This points to a larger tenant base and supports occupancy stability. Median home values in the neighborhood are elevated versus many U.S. areas, which can reinforce reliance on rental housing; at the same time, rent-to-income levels suggest manageable affordability pressure that calls for attentive lease management rather than aggressive pushes.
School ratings in the area track below national averages, which can matter for family‑oriented leasing strategies, but the strong amenity and employment access can offset for a substantial share of renter demand.
Safety metrics for the neighborhood trend near the national middle overall (crime national percentile around the 49th), indicating conditions broadly in line with many U.S. urban areas. Compared with neighborhoods nationwide, violent and property offense metrics land in stronger percentiles, signaling relatively favorable readings on those components.
Within the New York–Jersey City–White Plains metro, the neighborhood’s crime rank sits at 142 out of 889 neighborhoods, which is above the metro median but not among the highest‑risk cohorts. Recent year‑over‑year changes point to some volatility, so investors may want to underwrite continued attention to lighting, access control, and partnership with professional management to maintain resident confidence.
Regional employment access includes large corporate offices in technology, payments, consumer goods, and logistics—supporting commuter demand and lease retention for workforce and professional renters. The list below highlights nearby employers and headquarters by proximity.
- Cognizant — IT services (9.25 miles)
- Cognizant Technology Solutions — IT services (9.26 miles) — HQ
- Mastercard — payments & technology (9.77 miles) — HQ
- Pepsico — beverages & snacks (10.97 miles) — HQ
- Xpo Logistics — logistics (12.14 miles) — HQ
This 2011-vintage, 75‑unit asset benefits from a renter‑heavy neighborhood, above‑average occupancy, and strong daily‑needs amenity access—factors that collectively support leasing stability and pricing power relative to older local stock. According to CRE market data from WDSuite, the neighborhood’s occupancy stands above national baselines, while a deep renter‑occupied share indicates durable demand for multifamily housing.
Within a 3‑mile radius, population and household counts have been rising and are projected to keep growing, expanding the tenant pool and supporting long‑term absorption. Ownership costs in the neighborhood are elevated relative to many U.S. areas, reinforcing reliance on rentals; at the same time, rent-to-income levels indicate manageable affordability pressure that warrants prudent renewal and rent‑step strategies.
- High renter concentration and occupancy above national norms support income stability
- 2011 construction is competitive versus older neighborhood stock, with moderate capital planning needs
- Amenity-rich urban location aids retention and leasing velocity
- 3‑mile household growth expands the tenant base and supports absorption
- Risks: softer school ratings and safety volatility warrant proactive management and underwriting discipline