| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Best |
| Demographics | 50th | Fair |
| Amenities | 14th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 81 N Kensico Ave, White Plains, NY, 10604, US |
| Region / Metro | White Plains |
| Year of Construction | 1973 |
| Units | 28 |
| Transaction Date | 1996-05-15 |
| Transaction Price | $1,325,000 |
| Buyer | KENSICO LTD PARTNERSHIP |
| Seller | SHELTER PLUS INC |
81 N Kensico Ave White Plains Multifamily Investment
Neighborhood fundamentals point to durable renter demand and strong occupancy, according to WDSuite’s CRE market data. Elevated ownership costs in Westchester support leasing stability for well-managed assets in White Plains.
Situated in an Inner Suburb pocket of White Plains, the property benefits from neighborhood dynamics that favor rentals. The neighborhood’s housing stock trends older, while this asset was built in 1973, positioning it as relatively newer than much of the local inventory and potentially competitive after targeted modernization.
Occupancy at the neighborhood level is reported as among the very highest in the metro (highest rank among 889 metro neighborhoods) and in the top percentile nationally, based on CRE market data from WDSuite. This, coupled with a renter-occupied share around two-thirds, suggests a deep tenant base that can support leasing velocity and retention across cycles.
Local amenity density is modest in the immediate blocks (limited grocery, cafe, and daily-needs options), but park access scores above national norms, which can aid livability. Investors should underwrite some car dependence or coordinated resident services when positioning units and amenities.
Within a 3-mile radius, population and household counts have trended upward and are projected to continue growing, implying a larger tenant base over time. Household incomes in the area sit at the higher end for the region, and rent-to-income levels indicate manageable affordability pressure today — factors that can support pricing power and renewal rates when combined with thoughtful lease management and product differentiation.
Home values are elevated for Westchester and high by national comparison, which typically sustains reliance on rental housing and supports depth of demand for professionally managed multifamily. While average school ratings in the neighborhood are lower, operators can offset this by emphasizing renovated interiors, commuter access, and professional management in marketing.
Neighborhood-level crime data for this area is not available in WDSuite’s dataset. Investors typically benchmark safety using city and metro sources, as well as property-level history, to understand trend direction and how it compares to nearby White Plains neighborhoods.
Given the absence of a standardized rank for this neighborhood, prudent underwriting would include third-party checks and daytime/nighttime observations to align security measures and operating expenses with resident expectations.
The immediate area draws from a diversified white-collar employment base, with several notable corporate offices nearby that support renter demand and retention via short commutes. The list below reflects nearby employers most relevant to the resident workforce.
- Fernando DaCunha - Citizens Bank, Home Mortgages — financial services (1.8 miles)
- Mastercard — payments technology (2.9 miles) — HQ
- PepsiCo — food & beverage (3.6 miles) — HQ
- IBM — technology & services (5.0 miles) — HQ
- XPO Logistics — transportation & logistics (6.1 miles) — HQ
This 28-unit asset, built in 1973, offers a practical value-add path in a White Plains neighborhood where elevated ownership costs and strong incomes underpin renter demand. According to CRE market data from WDSuite, neighborhood occupancy performance ranks at the top of the metro and sits among the strongest nationally, indicating a favorable backdrop for lease-up and renewal strategies.
Demographics aggregated within a 3-mile radius show rising households and robust income growth, which can expand the renter pool and support rent optimization. While immediate walkable retail is limited and local school ratings are lower, the property’s relatively newer vintage versus much of the surrounding housing stock provides a platform for targeted upgrades that enhance competitiveness and support durable cash flow.
- Top-of-metro neighborhood occupancy supports leasing stability and renewal potential.
- High-cost ownership market reinforces depth of rental demand and pricing power.
- 1973 vintage offers clear value-add and modernization levers relative to older nearby stock.
- 3-mile radius growth in households and incomes expands the tenant base over time.
- Risks: limited walkable amenities and lower school ratings require thoughtful positioning and resident services.