| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 68th | Good |
| Amenities | 63rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 17 Fifth Ave, Pelham, NY, 10803, US |
| Region / Metro | Pelham |
| Year of Construction | 1988 |
| Units | 74 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
17 Fifth Ave Pelham 74-Unit Multifamily Opportunity
Neighborhood occupancy has held firm and ownership costs are high for Westchester, supporting renter demand and steady leasing, according to WDSuite’s CRE market data.
Pelham’s Urban Core setting ranks competitive among New York–Jersey City–White Plains neighborhoods (313 of 889), offering investors a balanced mix of stability and demand drivers without the volatility seen in more transitional areas.
Local amenity density is a strength: cafes and restaurants are abundant by national standards, and grocery access tracks above average. Public park and pharmacy counts are limited in the immediate neighborhood, which may modestly affect walk-to convenience but is offset by broader retail access nearby.
The neighborhood’s renter-occupied share is relatively low, indicating a higher owner presence; however, within a 3-mile radius renters comprise just over half of occupied housing. This broader renter base supports multifamily demand depth and helps sustain occupancy for professionally managed assets.
Median asking rents in the neighborhood sit toward the higher end regionally, while the rent-to-income profile indicates manageable affordability pressure. Combined with an above-median average school rating, these dynamics can aid retention and leasing consistency for well-maintained properties.
Neighborhood occupancy has trended stable with a modest multi-year lift, and the area’s demographic picture within a 3-mile radius shows population growth and an increase in households, pointing to a gradually expanding tenant base that can support future lease-up and renewals. These patterns align with commercial real estate analysis from WDSuite indicating sustained renter demand at the submarket level.
Safety indicators compare favorably both locally and nationally. The neighborhood’s violent-offense environment ranks near the top of the metro (16 out of 889 neighborhoods) and sits in the top decile nationally, suggesting a comparatively safe context for residents and property operations.
Recent trend data shows notable year-over-year declines in both violent and property offenses, reinforcing the area’s positive trajectory. While conditions can vary block to block, the broader pattern supports leasing stability and resident retention relative to many peer neighborhoods.
Proximity to established corporate employers supports a diverse commuter tenant base and underpins leasing durability. The companies below anchor finance, payments, consumer goods, and logistics roles within typical commuting distance.
- Fernando DaCunha - Citizens Bank, Home Mortgages — financial services (8.8 miles)
- Mastercard — payments & corporate offices (9.3 miles) — HQ
- Pepsico — consumer goods corporate offices (10.5 miles) — HQ
- Cognizant Technology Solutions — IT & consulting (10.6 miles) — HQ
- Xpo Logistics — logistics & transportation (11.3 miles) — HQ
Built in 1988, this 74-unit asset is newer than much of the local housing stock, positioning it competitively versus older inventory while still offering potential value-add through targeted modernization and systems upgrades. High home values in the neighborhood reinforce renter reliance on multifamily housing, and neighborhood occupancy has remained solid, supporting income stability.
Within a 3-mile radius, recent population growth and an increase in households point to renter pool expansion, which can aid lease-up and renewal velocity. At the same time, median rents trend on the higher side for the region; according to CRE market data from WDSuite, rent-to-income levels indicate manageable affordability pressure, suggesting room for disciplined revenue management rather than aggressive pushes. Key risks include a lower renter concentration in the immediate neighborhood and limited nearby parks and pharmacies, which calls for thoughtful amenity programming and marketing to the larger commuter base.
- 1988 vintage offers value-add and modernization upside versus older local stock
- Stable neighborhood occupancy and high-cost ownership environment support rental demand
- 3-mile radius shows population and household growth, expanding the tenant base
- Proximity to major employers supports leasing durability among commuters
- Risks: lower immediate renter concentration and limited parks/pharmacies require proactive asset and lease management