| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Poor |
| Demographics | 40th | Poor |
| Amenities | 64th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 24 Caryl Ave, Yonkers, NY, 10705, US |
| Region / Metro | Yonkers |
| Year of Construction | 1973 |
| Units | 30 |
| Transaction Date | 1999-09-16 |
| Transaction Price | $165,000 |
| Buyer | 24 CARYL INC |
| Seller | CARYL AVENUE REALTY CO |
24 Caryl Ave Yonkers Multifamily Investment Opportunity
Neighborhood occupancy trends in the mid-90s support income stability and leasing durability, according to WDSuite’s CRE market data. Renter demand is reinforced by a high share of renter-occupied units and access to everyday amenities.
This Urban Core location in Yonkers offers daily convenience with strong food-and-beverage density and park access. Restaurant and grocery concentrations rank in the 98th percentile nationally, placing the area above the metro median among 889 neighborhoods for amenity access. These fundamentals typically aid leasing velocity and resident retention for workforce-oriented multifamily.
The neighborhood’s occupancy rate is above the metro median (ranked 444 of 889), indicating steady renter activity. Approximately seven in ten housing units are renter-occupied, signaling a deep tenant base that can support sustained demand and reduce exposure to extended downtime between turns.
Vintage matters here. With an average neighborhood construction year around 1940, the 1973 property stands newer than much of the surrounding stock. That positioning can be competitively favorable versus older assets while still calling for thoughtful capital planning for aging systems or targeted value-add upgrades to modernize finishes and common areas.
Within a 3-mile radius, recent population and household growth, alongside projections for continued gains through 2028, point to a larger tenant base over time. Median contract rents in the area have risen in recent years, and elevated ownership costs relative to incomes in the neighborhood context tend to sustain reliance on rental housing—supporting pricing power when paired with effective lease management.
Safety trends are mixed in context. Compared with the New York–Jersey City–White Plains, NY–NJ metro, the neighborhood’s crime rank sits near the bottom decile (78 of 889, where a lower rank indicates higher incident levels). Nationally, the area compares around the upper half of neighborhoods. Investors may factor this into security, lighting, and access-control planning.
Recent direction is constructive on property offenses, with estimates indicating a notable year-over-year decline, which can support tenant retention and asset perception if maintained. Ongoing monitoring and standard multifamily best practices remain prudent.
Proximity to a diversified base of corporate offices supports commuter convenience and renter demand, particularly for tenants employed in technology services, media, insurance, and hospitality noted below.
- Cognizant — technology services (6.36 miles)
- Cognizant Technology Solutions — technology services (6.37 miles) — HQ
- Disney ABC Television Group — media (10.51 miles)
- Prudential Financial — insurance (10.60 miles)
- Loews — hospitality & holdings (10.86 miles) — HQ
The 30-unit asset at 24 Caryl Ave sits in a renter-heavy Yonkers neighborhood where amenity density, steady neighborhood occupancy, and proximity to major employers underpin leasing fundamentals. Built in 1973, the property is newer than much of the local housing stock, suggesting competitive positioning versus older assets while leaving room for targeted value-add and systems planning. According to CRE market data from WDSuite, the neighborhood’s occupancy performance trends above the metro median, consistent with a deep pool of renter-occupied units.
Within a 3-mile radius, recent and projected gains in population and households indicate an expanding renter pool that can support occupancy stability. At the same time, elevated rent-to-income dynamics in the neighborhood context suggest sensible attention to affordability pressure, renewal strategies, and unit mix optimization to balance retention with revenue growth.
- Renter-heavy neighborhood and above-metro-median occupancy support consistent tenant demand.
- 1973 vintage offers competitive edge versus older stock with clear value-add and modernization pathways.
- Strong amenity access and employer proximity aid leasing velocity and retention.
- Demographic growth within 3 miles points to a larger renter base over the next cycle.
- Risks: localized safety considerations and affordability pressure warrant active asset and lease management.