| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Poor |
| Demographics | 40th | Poor |
| Amenities | 64th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 276 Riverdale Ave, Yonkers, NY, 10705, US |
| Region / Metro | Yonkers |
| Year of Construction | 1995 |
| Units | 22 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
276 Riverdale Ave Yonkers Multifamily Investment Opportunity
Neighborhood renter demand and occupancy appear durable for small multifamily in Yonkers, according to WDSuite’s CRE market data. Positioning near services and transit corridors supports steady leasing relative to comparable Urban Core locations.
The property sits in Yonkers’ Urban Core, where neighborhood occupancy is reported at 94.6% and has improved over the last five years. That backdrop typically supports income stability for smaller assets when paired with pragmatic unit finishes and responsive operations.
Local amenity density is a relative strength: restaurants and grocery options track in the upper national percentiles, and parks access is similarly strong. By contrast, childcare and pharmacy presence is thinner, which may influence resident mix and service convenience. Taken together, the area offers day-to-day essentials that help with retention while leaving room for targeted tenant services.
Renter concentration is high at the neighborhood level (share of housing units that are renter-occupied is elevated), signaling a deep tenant base for multifamily. Within a 3‑mile radius, demographics show recent population and household growth with forecasts pointing to further increases through 2028; this implies a larger tenant base and supports occupancy stability as more renters enter the market. Homeownership remains a higher-cost path relative to incomes in the area, which tends to sustain rental demand and pricing discipline for professionally managed assets.
Against metro and national context, median contract rents in the neighborhood sit above the national midpoint while rent-to-income ratios indicate some affordability pressure, suggesting the need for disciplined lease management. For investors conducting multifamily property research, these dynamics frame a market where resident demand is durable but price-sensitive, favoring well-maintained, efficiently sized units.
Neighborhood safety indicators are mixed but generally favorable in national context. Overall crime sits around the 61st percentile nationally (safer than the median), and property offenses have declined notably year over year, according to CRE market data from WDSuite.
Investors should also note trend divergence: estimated violent offense rates are around the 59th percentile nationally (also better than median), but year-over-year change shows a recent uptick. Framing safety at the neighborhood—not block—level, these trends suggest monitoring conditions over time and aligning security measures and resident engagement accordingly.
Proximity to regional corporate offices supports a sizable commuter renter pool and helps retention by shortening commutes for knowledge-economy workers. The following employers anchor demand within a manageable radius:
- Cognizant Technology Solutions — IT services (6.5 miles) — HQ
- Prudential Financial — financial services (10.0 miles)
- Disney ABC Television Group — media & entertainment (11.2 miles)
- Loews — hospitality & holdings (11.6 miles) — HQ
- Time Warner — media & entertainment (11.6 miles) — HQ
Constructed in 1995, the asset is materially newer than much of the surrounding housing stock, offering competitive positioning versus prewar buildings while still benefiting from value-add potential through systems modernization and interior updates. Neighborhood occupancy is solid and trending up over five years, and a high share of renter-occupied units points to durable leasing fundamentals. Within a 3‑mile radius, population and households have grown recently and are projected to expand further, supporting a larger renter pool and steadier absorption.
Homeownership costs remain elevated relative to incomes in the area, reinforcing reliance on rental housing and supporting pricing power for well-managed properties. At the same time, rent-to-income levels indicate affordability pressure, arguing for disciplined renewals and resident retention strategies. According to CRE market data from WDSuite, amenity density (parks, restaurants, grocery) is a local strength that aids leasing velocity, while thinner childcare and pharmacy options and mixed safety trends are variables to watch.
- 1995 vintage offers competitive edge versus older stock, with clear value-add pathways
- High renter-occupied share and solid neighborhood occupancy support income stability
- 3‑mile population and household growth expand the tenant base and support leasing
- Amenity-rich location (parks, restaurants, grocery) aids retention and lease-up
- Risks: price sensitivity (rent-to-income), thinner childcare/pharmacy presence, and mixed safety trends