| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Good |
| Demographics | 43rd | Poor |
| Amenities | 42nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 441 N Broadway, Yonkers, NY, 10701, US |
| Region / Metro | Yonkers |
| Year of Construction | 1985 |
| Units | 28 |
| Transaction Date | 2008-07-21 |
| Transaction Price | $1,945,000 |
| Buyer | 441 NORTH BROADWAY LLC |
| Seller | CONCOURSE REALTY ASSOCIATES II LP |
441 N Broadway Yonkers 28-Unit Multifamily Investment
Neighborhood occupancy remains firm and renter demand is supported by a high-cost ownership landscape, according to WDSuite’s CRE market data. The submarket’s stability positions this asset for disciplined operations rather than outsized speculation.
Located along North Broadway in Yonkers, the property sits in an Urban Core neighborhood that shows steady renter demand and comparatively strong occupancy. Neighborhood occupancy is competitive among New York-Jersey City-White Plains neighborhoods (ranked 275 out of 889) and sits in the upper tier nationally, reinforcing expectations for leasing stability rather than volatile swings.
Local amenity access is mixed: parks and childcare access trend in the top quartile nationally, while grocery options are above average; restaurants, cafes, and pharmacies are thinner within the immediate neighborhood. For residents, this translates to day-to-day convenience for essentials with fewer discretionary options close by, which investors can offset through targeted resident services or partnerships.
Tenure patterns point to a meaningful renter base in the broader 3-mile radius, where renter-occupied housing is the majority, supporting depth of tenant demand. Within the neighborhood, the renter-occupied share also supports multifamily leasing, indicating a stable pool of prospective tenants rather than reliance on marginal demand.
Demographics aggregated within a 3-mile radius indicate population growth over the last five years, an increase in households, and projections for further expansion by 2028—signals that typically support occupancy stability and lease-up timelines. Median incomes have climbed, while forecast rent levels are also projected to rise, suggesting ongoing pricing power must be balanced with affordability management to maintain retention.
Home values in the neighborhood track in a higher national percentile, which indicates a high-cost ownership market for the area. For investors, elevated ownership costs can reinforce reliance on multifamily housing, supporting tenant retention and reducing competitive pressures from entry-level for-sale options.
Safety trends present a nuanced picture. Within the New York-Jersey City-White Plains metro, the neighborhood’s crime rank (33 out of 889) indicates comparatively higher incident rates than many peer neighborhoods. At the same time, national comparisons place the neighborhood in an above-average safety percentile, suggesting it compares more favorably to neighborhoods across the U.S.
Recent year-over-year momentum is constructive: estimated property and violent offense rates both declined meaningfully over the past year, which is supportive for renter sentiment and retention. Investors should continue routine security measures and tenant screening consistent with Urban Core assets in the region, while monitoring trend continuity.
The employment base within a 14-mile radius includes major corporate offices and headquarters that support a broad workforce renter pool and commute convenience. The list below reflects nearby employers most relevant to leasing stability for workforce and professional tenants.
- Cognizant Technology Solutions — technology services (8.0 miles) — HQ
- Fernando DaCunha - Citizens Bank, Home Mortgages — financial services (9.7 miles)
- Prudential Financial — financial services (10.0 miles)
- Mastercard — payments technology (10.8 miles) — HQ
- Pepsico — consumer goods (11.9 miles) — HQ
Built in 1985, the asset is newer than much of the surrounding housing stock, offering relative competitiveness versus older inventory while leaving room for selective modernization of systems and common areas. Neighborhood-level occupancy is competitive among metro peers and in the upper national tiers, which supports expectations for stable leasing. According to CRE market data from WDSuite, the area’s rent-to-income profile and elevated home values point to a high-cost ownership market, reinforcing sustained renter reliance on multifamily housing.
Demand fundamentals are further supported by 3-mile radius trends: recent population and household growth and projections for continued expansion by 2028 suggest a larger tenant base over time. Neighborhood operating performance metrics trend strong by national comparison, indicating local conditions that have historically supported healthy rent-to-expense dynamics—useful context when underwriting value-add and asset management plans.
- 1985 vintage offers competitive positioning versus older stock, with targeted modernization potential
- Neighborhood occupancy competitive among 889 metro neighborhoods and above national averages supports leasing stability
- High-cost ownership market underpins renter demand and can aid retention and pricing power
- 3-mile radius growth and rising incomes expand the tenant base, supporting long-term performance
- Risks: thinner discretionary amenities nearby and metro-relative safety rank warrant standard security and resident experience planning