| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Fair |
| Demographics | 36th | Poor |
| Amenities | 87th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 149 Oak St, Yonkers, NY, 10701, US |
| Region / Metro | Yonkers |
| Year of Construction | 1975 |
| Units | 22 |
| Transaction Date | 1999-03-11 |
| Transaction Price | $345,000 |
| Buyer | KOLE MANAGEMENT CO INC |
| Seller | 149 OAK REALTY CORP |
149 Oak St, Yonkers NY — 22-Unit Value-Add Multifamily
Neighborhood occupancy is strong with a deep renter base, supporting leasing stability according to WDSuite’s CRE market data. The 1975 vintage suggests scope for targeted renovations to enhance competitiveness and rent positioning.
Located in Yonkers’ urban core, the property benefits from neighborhood fundamentals that support multifamily demand. The area shows above-median occupancy among 889 New York–Jersey City–White Plains neighborhoods and a high share of renter-occupied housing units, indicating a broad tenant base and historically resilient lease-up conditions at the neighborhood level, per WDSuite’s CRE market data.
Daily-life amenities are a relative strength: restaurants and cafes rank in the upper national percentiles, and access to groceries, parks, and pharmacies also tests well versus neighborhoods nationwide. For investors, this mix can aid retention and reduce friction in leasing by aligning with renter convenience preferences.
Within a 3-mile radius, demographics indicate recent population and household growth, with projections pointing to further increases over the next five years. This suggests a larger tenant pool and supports occupancy stability and pricing discipline as new households seek rental options. Median incomes have risen in the area, while neighborhood rent-to-income levels point to manageable affordability pressure relative to many coastal metros—supportive for lease management and renewals.
Housing market context also favors rentals: elevated home values and a high value-to-income ratio locally make ownership comparatively costly, which tends to sustain reliance on multifamily housing. Average school ratings trail national norms, so demand skew may lean more toward workforce and young professional renter cohorts. The asset’s 1975 construction is newer than the neighborhood’s prewar average, implying a competitive edge versus older walk-up stock while still presenting value-add potential through system upgrades and interior improvements.
Safety indicators are mixed and should be interpreted in context. Compared with the 889 neighborhoods across the New York–Jersey City–White Plains metro, the neighborhood’s crime rank signals higher incident levels than many peers. Nationally, overall crime benchmarks near the middle of the pack, with property-related measures testing comparatively better than violent categories.
Trend-wise, violent offense estimates have improved year over year, tracking among stronger national improvement cohorts, while property offense measures have moved up more modestly. Investors should underwrite to current neighborhood trends rather than block-level assumptions and consider standard security, lighting, and access-control measures in capital plans.
Proximity to regional employers supports commuter convenience and broad renter demand, including roles tied to technology, financial services, and media. Notable nearby employment nodes include Cognizant Technology Solutions, Prudential Financial, Mastercard, Disney ABC Television Group, and Loews.
- Cognizant Technology Solutions — corporate offices (7.2 miles) — HQ
- Prudential Financial — financial services (10.4 miles)
- Mastercard — payments technology (11.4 miles) — HQ
- Disney ABC Television Group — media (11.8 miles)
- Loews — diversified holdings (12.2 miles) — HQ
This 22-unit property built in 1975 offers a straightforward value-add path in a renter-heavy Yonkers neighborhood where occupancy trends test above metro medians, according to CRE market data from WDSuite. The asset is newer than much of the local prewar housing stock, which can enhance leasing appeal once common areas, building systems, and interiors are modernized.
Neighborhood-level indicators show a deep renter base, elevated ownership costs that reinforce reliance on rentals, and strong amenity access that supports retention. Within a 3-mile radius, population and household growth—along with rising incomes—point to a larger tenant pool ahead, which can support occupancy stability and measured rent positioning. Underwriting should account for school quality that trails national norms and for calibrated capital reserves given the property’s age.
- Solid renter demand: high renter-occupied share and above-median neighborhood occupancy support leasing stability
- Value-add upside: 1975 vintage relative to older local stock enables rent and NOI lift via targeted renovations
- Demand drivers: strong amenity access and proximity to regional employers aid retention and absorption
- Ownership context: high-cost ownership market sustains reliance on rentals, supporting pricing power
- Risks: aging systems and below-average school ratings warrant capex planning and conservative family-demand assumptions