| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Good |
| Demographics | 43rd | Poor |
| Amenities | 42nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 351 N Broadway, Yonkers, NY, 10701, US |
| Region / Metro | Yonkers |
| Year of Construction | 1975 |
| Units | 22 |
| Transaction Date | 2000-07-20 |
| Transaction Price | $124,000 |
| Buyer | ESPIN MONTES MERCEDES |
| Seller | DYNAMIC DWELLINGS LLC |
351 N Broadway, Yonkers — 22-Unit Multifamily Position
Steady neighborhood occupancy and a deep renter pool point to durable leasing, according to WDSuite’s CRE market data. The area’s high-cost ownership landscape further sustains rental demand and supports retention.
Occupancy in the surrounding neighborhood is strong and stable, with levels that are above national norms and competitive among New York–Jersey City–White Plains neighborhoods (ranked 275 out of 889). For investors, that backdrop supports predictable leasing and lower downtime relative to weaker submarkets.
Livability inputs show balanced convenience: parks are competitive locally and in the top quartile nationally, childcare density is also in the top quartile, and groceries are above-average nationwide. By contrast, limited café and restaurant density suggests fewer immediate dining options, which may modestly affect lifestyle-driven demand but does not typically impair workforce-oriented occupancy.
Within a 3-mile radius, approximately 58% of housing units are renter-occupied, indicating a sizable renter-occupied base that deepens the tenant pipeline and can support lease-up and renewal stability. Household counts have increased over the last five years and WDSuite projects further population and household growth through 2028, expanding the potential renter pool and helping sustain occupancy.
Home values in the neighborhood benchmark high versus national averages, creating a high-cost ownership market that tends to reinforce reliance on multifamily rentals. Neighborhood operating benchmarks are also notable: average NOI per unit sits in the top percentile nationally, signaling that comparable assets nearby have supported strong operations, though outcomes vary by property strategy and execution.
Based on WDSuite’s data, the neighborhood compares favorably on safety versus many areas nationwide, with overall crime performance in a higher national percentile. Importantly for investors, estimated violent and property offense rates both declined year over year (approximately -34% and -44%, respectively), indicating improving conditions that can support resident retention and lower non-operating friction over time.
Safety conditions can vary block to block; investors typically verify on-the-ground trends during diligence and monitor city reporting to confirm that recent improvements are sustained.
The employment base within commuting range skews toward technology, financial services, consumer goods, and industrial packaging—sectors that underpin steady renter demand and support retention for workforce and professional tenants.
- Cognizant Technology Solutions — IT services (7.8 miles) — HQ
- Prudential Financial — financial services (9.9 miles)
- Mastercard — payments (10.9 miles) — HQ
- Pepsico — consumer goods (12.1 miles) — HQ
- Sealed Air — packaging (12.7 miles) — HQ
351 N Broadway offers a 22-unit, 1975 vintage asset in a neighborhood with competitive occupancy and a sizable renter-occupied base. The construction year positions the property newer than much of the surrounding housing stock, which can enhance leasing competitiveness while still warranting capital planning for aging systems and targeted renovations to unlock value-add upside.
Neighborhood benchmarks indicate resilient operations and a high-cost ownership market that tends to sustain rental demand. Within a 3-mile radius, household and population growth are expanding the tenant base, supporting occupancy stability and renewal potential; according to CRE market data from WDSuite, neighborhood occupancy trends sit above national averages, and median contract rents are elevated relative to national peers while rent-to-income levels suggest manageable affordability pressure that can aid retention.
- Competitive neighborhood occupancy and deep renter-occupied base support steady leasing
- 1975 vintage newer than local average, with potential to add value via modernization
- High-cost ownership market reinforces multifamily demand and renewal stability
- Neighborhood operating benchmarks (NOI per unit) are strong versus national peers
- Risks: aging building systems require capex planning; limited nearby dining options; outcomes depend on execution and unit-level finishes