| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Fair |
| Demographics | 40th | Poor |
| Amenities | 81st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 108 Jefferson St, Yonkers, NY, 10701, US |
| Region / Metro | Yonkers |
| Year of Construction | 1975 |
| Units | 69 |
| Transaction Date | 2006-12-13 |
| Transaction Price | $500,000 |
| Buyer | JEFFERSON TERRACE LLC |
| Seller | JEFFERSON TERRACE HOUSING DEVELOPMENT FU |
108 Jefferson St Yonkers Multifamily Investment
Neighborhood fundamentals point to stable renter demand and sustained occupancy, according to WDSuite’s CRE market data. With a deep renter base in an Urban Core setting, the asset benefits from durable leasing dynamics relative to many suburban submarkets.
Located at 108 Jefferson St in Yonkers’ Urban Core, the property sits in a neighborhood rated B that is competitive among New York-Jersey City-White Plains neighborhoods. The area’s renter concentration is high — roughly 79.3% of housing units are renter-occupied at the neighborhood level — supporting depth of tenant demand and leasing continuity.
The 1975 vintage is newer than the neighborhood’s older housing stock, offering relative competitiveness versus prewar inventory while still warranting prudent capital planning for aging systems or targeted value-add. Neighborhood occupancy runs strong (near the upper tiers nationally), which can help underpin rent rolls and reduce downtime between turns.
Daily-needs access is a local strength: grocery and pharmacy density scores in the upper national percentiles, with parks and restaurants also abundant. Cafe density is thinner, but overall amenity access remains favorable for resident retention and lifestyle convenience.
Within a 3-mile radius, population and household counts have grown in recent years and are projected to expand further, indicating a larger tenant base ahead. Median household incomes have risen while asking rents have also advanced, which reinforces demand but requires careful lease management to balance pricing with affordability. Elevated home values and a high value-to-income ratio characterize a high-cost ownership market, which tends to sustain reliance on multifamily rentals and can support occupancy stability across cycles.
Safety indicators are mixed. Overall crime compares below the national median, while violent offense metrics are around the national midpoint and property offense indicators trend somewhat better than national averages. Recent year-over-year changes show increases in both categories, so owners should monitor trajectory and align security measures with resident expectations and insurer requirements.
At the metro scale (889 neighborhoods), this area performs competitively relative to several urban peers but not top quartile; investors should underwrite with conservative assumptions and consider operational practices that support resident safety perception and retention.
Proximity to major corporate employers supports a broad commuter tenant base and can aid leasing stability for workforce and professional renters. Notable employment nodes within a roughly 6–12 mile radius include the following offices and headquarters:
- Cognizant Technology Solutions — corporate offices (6.7 miles) — HQ
- Prudential Financial — financial services (10.0 miles)
- Disney ABC Television Group — media & entertainment (11.4 miles)
- Time Warner — media & entertainment (11.8 miles) — HQ
- Estee Lauder — consumer products (11.9 miles) — HQ
This 69-unit, 1975-vintage asset offers relative competitiveness versus the area’s older housing stock, with durable renter demand supported by a high share of renter-occupied units at the neighborhood level and strong occupancy trends. Population and household growth within a 3-mile radius point to a larger tenant base ahead, while a high-cost ownership landscape helps sustain reliance on rental housing and supports pricing power where operations warrant.
According to CRE market data from WDSuite, neighborhood occupancy sits in the upper national tiers and amenity access (groceries, pharmacies, parks, restaurants) ranks well versus peers. Investors should balance these strengths against affordability pressure and mixed safety trends by emphasizing unit-level value, targeted renovations, and disciplined lease management to support retention.
- Strong renter demand: high renter-occupied share and solid neighborhood occupancy support leasing stability.
- Relative competitiveness: 1975 vintage can out-position older stock with focused upgrades and system refreshes.
- Amenity access: dense groceries, pharmacies, parks, and restaurants aid retention and marketing.
- Demand tailwinds: 3-mile population and household growth expand the tenant base over the medium term.
- Risks: affordability pressure and mixed safety trends warrant conservative underwriting and active management.