| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 68th | Good |
| Amenities | 63rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 135 Fifth Ave, Pelham, NY, 10803, US |
| Region / Metro | Pelham |
| Year of Construction | 1980 |
| Units | 47 |
| Transaction Date | 1998-06-15 |
| Transaction Price | $380,000 |
| Buyer | BIGGS JOHN N |
| Seller | SMITH BARBARA J |
135 Fifth Ave, Pelham NY — 47-Unit Multifamily built 1980
Positioned in an owner-leaning Westchester enclave with steady neighborhood occupancy, the asset benefits from durable renter demand supported by high local incomes and elevated ownership costs, according to WDSuite’s CRE market data.
Pelham’s immediate neighborhood rates B+ and is competitive among New York–Jersey City–White Plains metro neighborhoods (ranked 313 of 889), offering a stable base for multifamily assets without the volatility seen in faster-turnover submarkets. Neighborhood occupancy is above the national median, supporting income consistency for well-managed properties.
Daily-needs access is a strength: restaurants and cafes score in the top decile nationally, and grocery availability is above average. School quality trends in the top quartile nationwide, which supports family-oriented renter demand and longer tenancy. Park and pharmacy counts are limited within the neighborhood’s tight boundary, so residents typically rely on nearby districts for those needs.
Tenure dynamics are mixed. Within the neighborhood, the share of renter-occupied units is relatively low (owner-heavy), which can limit immediate turnover but concentrates demand among households preferring multifamily options. In the broader 3-mile radius, housing stock is roughly balanced between owners and renters, indicating a deeper tenant base for leasing and renewals. Elevated home values across Westchester tend to sustain reliance on rental housing, reinforcing pricing power when combined with sound operations and resident retention.
Demographics within a 3-mile radius show modest population growth and an increase in households, pointing to a larger tenant base over time. Rising incomes and the neighborhood’s above-median occupancy support a favorable leasing backdrop; based on multifamily property research from WDSuite, recent rent levels have outperformed much of the nation, underscoring demand resilience while warranting close attention to affordability and renewal strategies.
Safety trends are a relative strength versus national benchmarks. The neighborhood sits in the upper percentiles nationwide for low violent crime (top percentile bands), and recent estimates indicate notable year-over-year declines in both violent and property offenses. Within the New York–Jersey City–White Plains metro, it compares favorably to many peer neighborhoods, which can aid leasing, retention, and lender perception.
Rank and percentile interpretation: metrics indicate performance that is above metro averages and in the top quartile nationally for safety, based on WDSuite’s data. While no single block is guaranteed, the directional improvement and comparative positioning support stable operations for professionally managed assets.
Nearby corporate headquarters and offices across Westchester provide a diversified white-collar employment base that supports renter demand and retention, particularly among commuting professionals. The list below highlights major employers within a roughly 8–12 mile radius.
- Fernando DaCunha - Citizens Bank, Home Mortgages — financial services (8.6 miles)
- Mastercard — payments & fintech (9.2 miles) — HQ
- Pepsico — food & beverage (10.3 miles) — HQ
- Cognizant Technology Solutions — IT services (10.7 miles) — HQ
- Xpo Logistics — logistics & transportation (11.2 miles) — HQ
Built in 1980, the property is newer than much of the prewar housing common in the area, offering relative competitiveness versus older stock while still meriting targeted modernization of building systems and common areas. Neighborhood signals point to stable operations: occupancy is above the national median, violent crime benchmarks rank among the safest nationally, and elevated ownership costs in Westchester help sustain multifamily demand. According to CRE market data from WDSuite, local rents have outpaced national norms in recent years, underscoring demand but calling for proactive lease management to monitor affordability pressure.
Demand depth is supported by a balanced renter base within a 3-mile radius, rising household counts, and strong school ratings that appeal to family renters. The owner-leaning tenure mix in the immediate neighborhood can limit competing rental supply, which may aid retention for well-run assets. Key underwriting considerations include capital planning for 1980s vintage systems, the neighborhood’s limited parks and pharmacies within its small boundary, and potential competition from ownership in high-income segments.
- 1980 vintage offers a competitive edge versus older local stock with targeted modernization upside
- Above-median neighborhood occupancy and strong safety profile support income stability
- High ownership costs in Westchester reinforce multifamily demand and pricing power
- Risk: owner-leaning micro-neighborhood and limited parks/pharmacies; plan for capital needs and careful renewal pricing