| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Fair |
| Demographics | 53rd | Fair |
| Amenities | 79th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15 Overlook Ter, Yonkers, NY, 10701, US |
| Region / Metro | Yonkers |
| Year of Construction | 1985 |
| Units | 23 |
| Transaction Date | 2023-09-13 |
| Transaction Price | $2,600,000 |
| Buyer | 15 OVERLOOK YONKERS AMS LLC |
| Seller | WESTHAB INC |
15 Overlook Ter, Yonkers NY Multifamily Investment
Renter demand appears durable with occupancy holding near the mid‑90s for the surrounding neighborhood, according to WDSuite’s CRE market data. This positioning supports income stability for a 23‑unit asset in an Urban Core setting.
The property sits within Yonkers’ Urban Core, a B+–rated neighborhood that is competitive among 889 New York–Jersey City–White Plains metro neighborhoods. Amenities are a local strength: neighborhood counts for parks, groceries, and restaurants rank in the upper tiers nationally, which helps support renter convenience and lease retention.
Occupancy in the neighborhood is above the metro median, with recent years showing resilience that supports underwriting for stabilized multifamily. Median contract rents and a rent‑to‑income relationship indicate manageable affordability pressure relative to many down‑county submarkets, which can aid renewal rates and reduce turnover risk.
Vintage matters for competitiveness. With a neighborhood average construction year from the 1940s, a 1985 asset is newer than much of the local stock, offering positioning advantages versus older walk‑ups while still warranting capital planning for aging systems or targeted renovations to meet current renter expectations.
Tenure data points to depth of demand: the neighborhood shows a high share of renter‑occupied housing units, signaling a large tenant base for small and mid‑sized multifamily. Within a 3‑mile radius, population and household counts have grown over the past five years, and projections point to further increases, expanding the renter pool and supporting occupancy stability. These trends are corroborated by commercial real estate analysis from WDSuite, which tracks above‑average neighborhood income growth alongside continued renter household expansion.
Home values in the area are elevated for Westchester but below the priciest submarkets, a backdrop that tends to sustain reliance on multifamily rentals while preserving pricing discipline. For investors, this balance can support steady absorption with measured rent growth rather than volatile swings.
Safety indicators are mixed and should be evaluated in context. Relative to the New York–Jersey City–White Plains metro’s 889 neighborhoods, the area’s overall crime position sits around the metro middle, and national comparisons are near the median. Property‑related offenses benchmark slightly better than the national average, while violent‑offense measures are closer to average but have trended down recently, according to WDSuite’s CRE market data.
For risk management, investors may want to align on-site security, lighting, and resident engagement with local patterns and monitor ongoing trendlines rather than any single-year reading.
Proximity to regional employers underpins renter demand, with a concentration of corporate offices within a roughly 7–12 mile radius supporting commute convenience and leasing stability. Notable anchors include Cognizant Technology Solutions, Prudential Financial, Mastercard, Disney ABC Television Group, and Sealed Air.
- Cognizant Technology Solutions — IT services (7.1 miles) — HQ
- Prudential Financial — financial services (9.9 miles)
- Mastercard — payments technology (11.5 miles) — HQ
- Disney ABC Television Group — media (12.0 miles)
- Sealed Air — packaging (12.3 miles) — HQ
This 1985, 23‑unit asset benefits from a renter‑heavy Urban Core location where neighborhood occupancy trends have remained steady and amenity access is strong. Being newer than much of the local housing stock provides a competitive edge versus pre‑war inventory, while still offering value‑add potential through systems modernization and interior updates. Within a 3‑mile radius, growth in households and incomes suggests a larger tenant base over time, supporting leasing durability.
According to CRE market data from WDSuite, the neighborhood benchmarks above the metro median for occupancy with solid national amenity percentiles, and homeownership costs that help sustain multifamily demand. The result is a setup conducive to steady operations and selective rent growth, provided capital plans address mid‑1980s building systems and day‑to‑day management calibrates to local safety and service access patterns.
- Renter‑oriented neighborhood with occupancy above metro median supports income stability.
- 1985 vintage is newer than much of the area, enabling competitive positioning and targeted value‑add.
- Strong amenity access (parks, groceries, restaurants) aids retention and leasing velocity.
- Growing 3‑mile household and income base expands the renter pool and supports occupancy.
- Risks: mixed safety readings and aging systems require proactive management and capex planning.