| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Good |
| Demographics | 59th | Fair |
| Amenities | 56th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 698 Yonkers Ave, Yonkers, NY, 10704, US |
| Region / Metro | Yonkers |
| Year of Construction | 1985 |
| Units | 55 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
698 Yonkers Ave, Yonkers NY Multifamily Investment
Neighborhood occupancy is strong and trending upward, supporting stable leasing conditions for a 55-unit asset, according to WDSuite’s CRE market data. Elevated incomes and home values in Yonkers point to sustained renter demand for well-managed units.
Situated in an Inner Suburb of the New York–Jersey City–White Plains metro, this location benefits from metro-scale demand drivers while maintaining proximity to jobs and transit corridors. Neighborhood occupancy is above many U.S. areas (top quartile nationally), and the submarket posts a B- neighborhood rating among 889 metro neighborhoods, signaling broadly competitive fundamentals for multifamily.
Local amenities skew practical rather than lifestyle-oriented: strong access to childcare and pharmacies (both high national percentiles) and abundant parks (top decile nationally) help with day-to-day livability and retention. By contrast, the immediate area shows sparse café and grocery density, so residents may rely on nearby districts for dining and specialty shopping—an operational consideration for marketing and resident services.
Renter-occupied share within the neighborhood is lower than many urban submarkets, indicating a housing stock with a meaningful owner component; for multifamily operators, this typically means steadier turnover but a more targeted renter pool. At the 3-mile radius, population and households have been expanding and are projected to continue growing through 2028, which supports a larger tenant base and occupancy stability. Median contract rents and household incomes rank in the top decile nationally, reinforcing pricing power for quality units while warranting attention to lease management and affordability.
The asset’s 1985 vintage is newer than the neighborhood’s older housing stock (average construction year circa mid-20th century). This positioning can offer a competitive edge on unit layouts and systems relative to pre-war properties, while still leaving room for targeted renovations to capture premium demand.
Safety indicators are comparatively favorable. The neighborhood ranks 36th out of 889 metro neighborhoods on crime, and violent offense rates sit in the top percentile band nationally for safety (about the 97th percentile), according to WDSuite’s CRE market data. Property offense levels track better than the national middle and recent trends show improvement in violent incidents, suggesting a supportive backdrop for resident retention.
Proximity to major corporate employers underpins commute convenience and broadens the renter pool. Nearby anchors include Cognizant, Cognizant Technology Solutions, Mastercard, Prudential Financial, and PepsiCo—supporting demand from a diversified white-collar workforce.
- Cognizant — technology services (8.1 miles)
- Cognizant Technology Solutions — technology services (8.1 miles) — HQ
- Mastercard — payments (10.7 miles) — HQ
- Prudential Financial — financial services (11.7 miles)
- Pepsico — consumer goods (11.9 miles) — HQ
This 55-unit, 1985-vintage property sits in a Yonkers neighborhood where occupancy is strong and trending up, with rent and income benchmarks in high national percentiles. The asset is newer than much of the surrounding housing stock, offering competitive positioning versus older buildings while allowing for targeted upgrades to drive NOI. Population and household growth within a 3-mile radius indicate a deepening renter base, supporting leasing stability over the medium term.
Elevated home values in the neighborhood create a high-cost ownership market, which can reinforce reliance on rental housing and support pricing power for well-presented units. Based on commercial real estate analysis using WDSuite’s CRE market data, safety metrics are favorable relative to metro and national benchmarks, and regional employers broaden the pool of prospective renters. Key risks include thinner neighborhood café/grocery options and a lower renter concentration locally, which call for focused marketing and resident experience strategies.
- Occupancy strength and rising trend support stable cash flows
- 1985 vintage competes well against older local stock with value-add upside
- High-income, high-value ownership market sustains multifamily renter demand
- 3-mile radius growth expands the tenant base and supports occupancy
- Risks: limited immediate retail/amenity density and lower neighborhood renter concentration