| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Fair |
| Demographics | 32nd | Poor |
| Amenities | 79th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 156 Chase Ave, Yonkers, NY, 10703, US |
| Region / Metro | Yonkers |
| Year of Construction | 1973 |
| Units | 38 |
| Transaction Date | 1997-01-07 |
| Transaction Price | $325,000 |
| Buyer | 156 CHASE AVENUE REALTY CORP |
| Seller | CARBO CLEMENTINE A |
156 Chase Ave, Yonkers NY — Multifamily Investment Positioning
Neighborhood occupancy sits around the 70th percentile nationally, signaling steady tenant demand and lease stability, according to WDSuite’s CRE market data.
Located in Yonkers’ Urban Core, the immediate neighborhood trends favor daily convenience and renter demand. Grocery, restaurant, park, and pharmacy access rank in the upper national percentiles, while cafes are relatively limited. Median asking rents in the neighborhood are in the top quartile nationally, and the neighborhood s occupancy has trended up over the last five years, supporting stable leasing conditions for landlords.
The 1973 vintage is newer than the area s older housing stock (many buildings pre‑1940), which can offer competitive positioning versus aging comparables; investors should still plan for selective modernization and systems updates typical of 1970s construction.
Tenure patterns point to a meaningful renter base: the neighborhood reports a high share of renter-occupied units, and within a 3-mile radius renters account for just over half of occupied housing. For investors, that depth of renter concentration supports ongoing leasing velocity and reduces exposure to extremely thin tenant pools.
Within 3 miles, demographics indicate population and household growth alongside rising incomes, which can expand the renter pool and support occupancy stability. Elevated home values and a high value-to-income ratio in the neighborhood suggest a high-cost ownership market, reinforcing reliance on multifamily rentals; at the same time, rent-to-income metrics indicate manageable affordability pressure, which can aid retention and reduce turnover risk during renewals based on commercial real estate analysis from WDSuite.
Safety indicators show mixed positioning. Relative to the New York–Jersey City–White Plains metro, the neighborhood s crime rank sits closer to higher-crime cohorts (ranked 95 among 889 metro neighborhoods), while nationally it falls near the mid-to-upper percentiles. Recent data also points to year-over-year decreases in both violent and property offense rates, suggesting an improving trend rather than deterioration.
For investors, this implies typical urban risk management considerations: emphasize lighting and access controls, align insurance and security practices with submarket norms, and monitor ongoing trend data as part of asset operations.
The broader Westchester–Lower Hudson workforce includes major corporate employers that help underpin renter demand through commute convenience and professional services employment, including Cognizant Technology Solutions, Citizens Bank mortgage operations, Mastercard, Prudential Financial, and PepsiCo.
- Cognizant Technology Solutions technology & consulting (8.7 miles) HQ
- Fernando DaCunha Citizens Bank, Home Mortgages financial services (9.0 miles)
- Mastercard payments & technology (10.1 miles) HQ
- Prudential Financial insurance & investment management (10.5 miles)
- Pepsico consumer goods (10.7 miles)
This 38-unit 1973 asset sits in a neighborhood with steady occupancy, strong daily-needs amenity access, and a large renter base. The vintage is newer than much of the surrounding housing stock, offering competitive positioning versus older buildings while still warranting targeted modernization for long-term durability and renter appeal. According to CRE market data from WDSuite, elevated ownership costs locally and rent levels in the upper national quartile support durable rental demand, while rent-to-income metrics point to manageable affordability pressure that can aid retention.
Within a 3-mile radius, growing population and households alongside rising incomes suggest a larger tenant base over time, reinforcing occupancy stability. Balanced against these strengths are typical urban risk factors, including relative safety positioning versus the metro and below-average school ratings, which call for prudent underwriting and asset management.
- Occupancy around the 70th national percentile supports stable leasing and renewal potential.
- 1973 vintage is newer than local pre‑war stock, with value-add upside via targeted modernization.
- Large renter-occupied base and high-cost ownership market reinforce multifamily demand.
- 3-mile growth in population and households expands the tenant pool, supporting occupancy stability.
- Risk: Safety ranks weaker versus the metro and school ratings are low; underwrite operations and retention accordingly.