| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Fair |
| Demographics | 53rd | Fair |
| Amenities | 79th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 35 Odell Ave, Yonkers, NY, 10701, US |
| Region / Metro | Yonkers |
| Year of Construction | 1975 |
| Units | 33 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
35 Odell Ave, Yonkers NY — Multifamily Investment Thesis
Neighborhood fundamentals point to durable renter demand and steady occupancy, according to WDSuite’s CRE market data. With a high share of renter-occupied units locally, this asset should benefit from a deep tenant base and balanced pricing power.
Located in Yonkers’ Urban Core, the property sits within a neighborhood rated B+ and is competitive among New York–Jersey City–White Plains neighborhoods (ranked 312 of 889). The area’s occupancy is strong at the neighborhood level and has trended upward in recent years, supporting income stability for multifamily owners.
Amenity access is a local strength: grocery and dining density ranks in the upper national percentiles, and parks access is among the strongest nationally. Daily conveniences are broad, though pharmacy options are comparatively limited in the immediate area. This blend favors resident retention for workforce and commuter households seeking walkable essentials.
Renter concentration is high at the neighborhood level (near four-fifths of housing units are renter-occupied), signaling a deep pool of prospective tenants and consistent leasing activity. Median contract rents have advanced over the last five years while the local rent-to-income ratio remains comparatively manageable, which supports retention and reduces turnover risk from affordability pressure.
Within a 3-mile radius, demographics indicate recent population growth and an expanding household base, with forecasts pointing to further gains over the next five years. This trajectory implies a larger tenant base and sustained demand for rental units. The ownership market shows elevated home values for the area, which tends to reinforce reliance on multifamily housing rather than ownership — an investor-positive dynamic for lease stability and occupancy. Based on commercial real estate analysis from WDSuite, these trends align with steady near-term leasing and medium-term rent growth potential.
Vintage context: the asset’s 1975 construction is newer than much of the local housing stock (average vintage skews early- to mid-20th century). That positioning can help competitiveness versus older properties, while still warranting targeted capital planning for aging building systems and selective unit modernizations to capture value-add upside.
Safety indicators for the neighborhood are mixed relative to metro peers and roughly around the national middle. The area’s crime rank sits in the lower third of the metro (ranked 140 among 889 neighborhoods, where a lower rank indicates more reported crime), so investors should underwrite prudent security and operating practices. That said, violent offenses have trended lower year over year, which is a constructive signal. As always, block-by-block conditions vary; compare property-level measures to nearby comps and recent trends when assessing risk.
Nearby employment anchors within commuting distance include financial services, technology, payments, insurance, and food & beverage corporate offices. These employers support a broad workforce tenant base and can aid leasing velocity and retention.
- Fernando DaCunha - Citizens Bank, Home Mortgages — financial services (8.8 miles)
- Cognizant Technology Solutions — IT services (9.2 miles) — HQ
- Mastercard — payments (9.9 miles) — HQ
- Prudential Financial — insurance (10.1 miles)
- PepsiCo — food & beverage (11.0 miles) — HQ
35 Odell Ave is a 33-unit multifamily asset built in 1975, positioned in a renter-heavy Yonkers submarket where neighborhood occupancy has remained solid and directionally improving. Amenity density (groceries, restaurants, parks) ranks high nationally, which supports lease retention and everyday convenience. The asset’s vintage is newer than much of the local stock, offering a competitive edge versus older buildings while leaving room for targeted renovations and systems upgrades to drive rent premiums.
Within a 3-mile radius, population and households have been expanding and are projected to grow further, indicating a larger tenant base and continued multifamily demand. Homeownership costs in the area are elevated enough to sustain reliance on rentals, and rent-to-income levels suggest manageable affordability pressure that supports occupancy stability. According to CRE market data from WDSuite, neighborhood-level NOI per unit performance and occupancy are above national medians, reinforcing a resilient operating outlook relative to broader benchmarks.
- Renter-heavy neighborhood and stable occupancy support consistent cash flow at the asset level.
- Strong amenity access (groceries, dining, parks) underpins retention and pricing power.
- 1975 vintage is newer than much of the area stock, with value-add potential via targeted upgrades.
- Expanding 3-mile population and household counts point to a growing tenant base and leasing depth.
- Risk: Crime ranks weaker than many metro peers; underwrite security measures and market-appropriate loss assumptions.