| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Fair |
| Demographics | 32nd | Poor |
| Amenities | 79th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 227 Palisade Ave, Yonkers, NY, 10703, US |
| Region / Metro | Yonkers |
| Year of Construction | 1973 |
| Units | 28 |
| Transaction Date | 1996-03-27 |
| Transaction Price | $150,000 |
| Buyer | ORELLANA RICARDO |
| Seller | MERA XAVIER A |
227 Palisade Ave Yonkers Multifamily Investment
Occupancy in the surrounding neighborhood has been steady, and renter demand is supported by a high renter-occupied share at the neighborhood level, according to CRE market data from WDSuite. These indicators suggest durable leasing conditions relative to nearby submarkets, though statistics reference the neighborhood, not this property.
The property sits in an Urban Core pocket of Yonkers that is below the metro median overall (ranked 523 of 889 New York–Jersey City–White Plains neighborhoods; B- rating) but shows strengths that matter for multifamily. Neighborhood occupancy is 94.8% (around the 70th percentile nationally), indicating stable tenant retention potential at the neighborhood level rather than the specific asset.
Daily-needs access is a relative advantage: neighborhood measures are in the high national percentiles for grocery (95th), restaurants (94th), parks (98th), and pharmacies (99th). Childcare density also scores strong (91st percentile), while cafes are comparatively limited. These amenity patterns support convenience for renters and can aid leasing velocity, per WDSuite’s CRE market data context.
Tenure dynamics are favorable for multifamily: the neighborhood’s renter-occupied share is high (86th percentile nationally). Within a 3-mile radius, demographics show population and household growth over the last five years, with household counts increasing and smaller average household sizes previously trending before a projected uptick — all of which expand the tenant base and can support occupancy stability. Forward-looking 3-mile projections indicate additional population and household gains, reinforcing the depth of the renter pool rather than implying new unit construction.
Ownership costs in the neighborhood skew higher relative to incomes (value-to-income ratio near the 91st national percentile), which typically sustains reliance on rentals and supports pricing power. Median contract rents track in the upper national quartile, yet rent-to-income around 0.28 suggests manageable affordability pressure that can help with lease retention and renewal management.
Vintage also factors into competitive positioning. Built in 1973, the asset is newer than the neighborhood’s average housing stock (1939), which can be an advantage versus older comparables. Investors should still plan for modernization of aging systems or selective renovations to maintain competitiveness and capture value-add upside.
Safety signals are mixed and best interpreted comparatively. The neighborhood ranks 95 out of 889 across the New York–Jersey City–White Plains metro, which indicates higher incident levels than many metro peers. Nationally, broader crime measures sit around the upper half (approximately 59th percentile), placing the area modestly above the national median for safety.
Recent momentum is constructive: violent offense estimates declined about a quarter year over year (improvement around the 73rd percentile nationally), and property offense estimates also fell by nearly one-fifth (improvement near the 62nd percentile). These are neighborhood-level signals, not block-specific guarantees, and should be validated against current local reporting during diligence.
Proximity to regional headquarters and corporate offices underpins a diverse employment base that supports renter demand and commute convenience. Key nearby employers include Cognizant Technology Solutions, Mastercard, PepsiCo, Sealed Air, and Loews.
- Cognizant Technology Solutions — IT services (7.6 miles) — HQ
- Mastercard — payments (11.1 miles) — HQ
- Pepsico — food & beverage (12.3 miles) — HQ
- Sealed Air — packaging (12.6 miles) — HQ
- Loews — diversified holdings (12.9 miles) — HQ
This 28-unit, 1973-vintage asset benefits from neighborhood-level occupancy around the 70th national percentile and a high renter concentration, supporting demand depth and leasing stability. According to CRE market data from WDSuite, daily-needs amenities test strong for groceries, pharmacies, parks, and childcare, while ownership remains a high-cost option relative to incomes — factors that generally reinforce multifamily renter reliance and pricing power. Average unit sizes near 1,000 square feet position the property to compete for longer-term renters seeking space.
Demographic indicators aggregated within a 3-mile radius show population and household growth with further gains projected, pointing to a larger tenant base over time. As a 1973 build, the property is newer than much of the local housing stock, which can be advantageous versus older comparables; however, investors should plan for system updates or targeted renovations to sustain competitiveness. School ratings trend low at the neighborhood level and local safety ranks weaker versus metro peers, both of which warrant underwriting discipline.
- Neighborhood occupancy and high renter-occupied share support leasing stability
- Strong daily-needs amenities (grocery, pharmacy, parks, childcare) bolster renter appeal
- High-cost ownership context sustains rental demand and pricing power
- 1973 vintage offers value-add via modernization while competing against older stock
- Risks: below-metro safety ranking and lower school ratings call for conservative underwriting