| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Fair |
| Demographics | 36th | Poor |
| Amenities | 87th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2 Van Cortlandt Park Ave, Yonkers, NY, 10705, US |
| Region / Metro | Yonkers |
| Year of Construction | 1991 |
| Units | 28 |
| Transaction Date | 2022-01-18 |
| Transaction Price | $1,750,000 |
| Buyer | 2 VAN CORTLANDT PARK LLC |
| Seller | 2 VAN CORTLANDT PARK AVE LLC |
2 Van Cortlandt Park Ave Yonkers Multifamily Investment
Neighborhood occupancy is strong and renter demand is deep, according to WDSuite’s CRE market data, positioning this Urban Core asset for stable leasing and steady tenant retention.
Set within Yonkers’ Urban Core, the surrounding neighborhood shows durable renter demand. Neighborhood occupancy trends are competitive, ranking in the top quartile among 889 metro neighborhoods and in a high national percentile, which supports leasing stability for small-unit properties like this 28-unit asset.
Amenity access is a relative strength: grocery, restaurant, and park densities sit in high national percentiles, and overall amenity access is competitive among New York–Jersey City–White Plains neighborhoods. This mix typically aids day-to-day livability and can bolster retention for workforce renters seeking convenience.
Renter concentration is elevated for the area (share of housing units that are renter-occupied), placing it among the highest nationally. For investors, that indicates a sizable tenant base and supports depth of demand for multifamily units. Median contract rents in the neighborhood have risen over the last five years while remaining within a rent-to-income profile that suggests manageable affordability pressure, which can help sustain occupancy.
School ratings in the neighborhood track below national norms, which is relevant for family-oriented demand. However, the area’s adult-skewed renter base and access to employment corridors can offset this for studios and smaller floor plans. The property’s 1991 construction is newer than the neighborhood’s older building stock, which can improve competitive positioning versus pre-war assets, while still warranting capital planning for aging systems and targeted renovations.
Demographic statistics are aggregated within a 3-mile radius: population and household counts have grown in recent years, with projections indicating further renter pool expansion by 2028. For multifamily, that points to a larger tenant base and supports occupancy stability relative to the broader metro.
Safety indicators are mixed. The neighborhood’s crime rank sits toward the lower end of the 889-neighborhood metro distribution (lower rank indicates higher reported crime concentration), suggesting it is comparatively higher-crime than many metro peers. At the same time, national positioning is roughly middle-of-the-pack to modestly above average, indicating conditions that are not atypical for dense Urban Core locations.
Trend signals are noteworthy: estimated violent offense rates have declined over the past year at a pace that compares favorably against many areas nationally, while property offense rates show a recent uptick. Investors should weigh these offsetting trends and monitor local enforcement and community initiatives as part of ongoing risk assessment.
Nearby corporate offices provide a diversified employment base that supports commuter demand and lease retention, including IT services, financial services, payments, media, and consumer goods employers within roughly 7–12 miles.
- Cognizant Technology Solutions — IT services (7.4 miles) — HQ
- Prudential Financial — insurance (10.5 miles)
- Mastercard — payments (11.2 miles) — HQ
- Disney ABC Television Group — media (12.0 miles)
- PepsiCo — consumer goods (12.4 miles) — HQ
This 1991-vintage, 28-unit property benefits from a neighborhood with high occupancy, deep renter concentration, and strong amenity access relative to the metro. Elevated home values in the area indicate a high-cost ownership market, which typically reinforces reliance on multifamily rentals and supports pricing power when managed carefully. According to CRE market data from WDSuite, neighborhood occupancy performance sits in the top tier locally, aligning with a steady leasing backdrop.
Within a 3-mile radius, recent growth in population and households—and forecasts pointing to further renter pool expansion by 2028—support demand durability. The asset’s newer vintage versus much of the surrounding stock can be leveraged through selective modernization to enhance competitiveness, while attention to affordability and lease management can help maintain retention as rents trend upward.
- High neighborhood occupancy and elevated renter concentration underpin leasing stability.
- Newer 1991 construction versus older local stock offers value-add and repositioning potential.
- Strong amenity access and proximity to diversified employers support retention.
- High-cost ownership market sustains rental demand and can support measured pricing power.
- Risks: below-average school ratings, mixed safety signals (improving violent trends, recent property offense uptick), and ongoing capex needs typical for early-1990s assets.