| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Good |
| Demographics | 36th | Poor |
| Amenities | 81st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 342 Westchester Ave, Port Chester, NY, 10573, US |
| Region / Metro | Port Chester |
| Year of Construction | 2003 |
| Units | 39 |
| Transaction Date | 2008-06-24 |
| Transaction Price | $350,000 |
| Buyer | WOOD MATTHEW A |
| Seller | BROOKCHESTER COURT LLC |
342 Westchester Ave Port Chester Multifamily Investment
Neighborhood occupancy trends in the mid-90% range and strong daily-needs amenities point to durable renter demand, according to WDSuite s CRE market data. The location s high-cost ownership market supports lease retention and pricing power relative to nearby for-sale options.
Port Chester s Urban Core setting offers strong lifestyle convenience for renters. The neighborhood scores competitive among New York Jersey City White Plains metro neighborhoods (rank 416 of 889, rating B), with cafés, groceries, parks, and restaurants landing in the top quartile nationally. This mix reinforces day-to-day livability and supports steady leasing.
Amenity access is a clear strength: cafés and grocery density sit near the top of U.S. neighborhoods (both ~top 1% nationally), parks are top decile, and restaurants are also top decile. One notable gap is pharmacy availability, which may require residents to travel outside the immediate area for prescriptions a minor friction to consider in leasing narratives.
For multifamily property research, the neighborhood s renter-occupied share is roughly 47% of housing units, indicating a deep tenant base. Neighborhood occupancy is about 94.3% (neighborhood metric, not property-specific), suggesting stable absorption across cycles. Median contract rents benchmark high nationally (around the 90th percentile), aligning with a high-cost homeownership landscape (home values ~84th percentile nationally), which tends to sustain reliance on rental housing.
The area s housing stock skews older than national norms, while this asset s 2003 vintage is newer than much of the local inventory. That positioning can be competitive versus pre-war and mid-century stock, though investors should still budget for modernization of systems and common areas as part of lifecycle planning. Within a 3-mile radius, population and households have grown over the last five years and are projected to continue increasing, with household sizes trending smaller all of which expand the renter pool and support occupancy stability over time.
Comparable crime data at the neighborhood level is not available in this dataset. As a result, metro rank and national percentile safety comparisons cannot be provided for this address. Investors should rely on standard underwriting practices including reviewing recent police reports, municipal dashboards, and property-level incident logs to contextualize safety alongside traffic, lighting, and on-site management controls.
Nearby headquarters and corporate offices create a strong white-collar employment base that supports renter demand and commute convenience, particularly for XPO Logistics, PepsiCo, Mastercard, W.R. Berkley, and Citizens Bank mortgage operations.
- Xpo Logistics corporate offices (1.6 miles) HQ
- Pepsico corporate offices (2.4 miles) HQ
- Mastercard corporate offices (2.5 miles) HQ
- W.R. Berkley corporate offices (2.7 miles) HQ
- Fernando DaCunha Citizens Bank, Home Mortgages corporate offices (3.6 miles)
Built in 2003, this 39-unit asset is newer than much of the surrounding housing stock, offering relative competitiveness versus older buildings while leaving room for targeted upgrades to enhance leasing and retention. Neighborhood occupancy around 94% and a renter-occupied share near half of units point to a sizable tenant base and steady absorption, with elevated home values reinforcing reliance on multifamily options.
Within a 3-mile radius, recent population and household growth alongside projected gains and gradually smaller household sizes signal a larger renter pool over the next cycle. Median contract rents benchmark high versus national peers, but with rent-to-income near one-third, prudent lease management remains important for retention and collections, according to CRE market data from WDSuite.
- Newer 2003 vintage versus older neighborhood stock supports competitive positioning with targeted modernization upside.
- Neighborhood occupancy near mid-90% and ~47% renter-occupied share support demand depth and leasing stability.
- Amenity-rich Urban Core location (top-quartile nationally for cafés, groceries, parks, restaurants) enhances resident retention.
- Employment base anchored by nearby Fortune 500 headquarters underpins white-collar renter demand.
- Risks: lower average school ratings and limited pharmacy access in the immediate area; manage affordability pressure with disciplined renewals and value-focused upgrades.