| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 26th | Fair |
| Demographics | 42nd | Fair |
| Amenities | 11th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1198 Maple Ave, Elmira, NY, 14904, US |
| Region / Metro | Elmira |
| Year of Construction | 1975 |
| Units | 43 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1198 Maple Ave Elmira NY 43-Unit Multifamily
Steady renter demand in Elmira’s south side pairs with improving property-crime trends to support income durability, according to WDSuite’s CRE market data. Positioning and pricing discipline are key in a submarket where ownership remains accessible.
This suburban Elmira neighborhood skews more residential and owner-occupied, with a modest renter-occupied share locally that suggests a thinner but stable tenant base for a 43-unit asset. Median contract rents in the neighborhood are mid-range for the metro, while the rent-to-income profile indicates manageable affordability pressure—favorable for lease retention and renewal strategies based on CRE market data from WDSuite.
Amenity density is limited (few cafes, parks, or restaurants in close proximity), but grocery access is comparatively stronger within the metro, supporting day-to-day convenience. Average school ratings in the area trend below national norms, which may narrow the appeal for some family renters but can keep demand resilient among workforce households seeking value and proximity to jobs.
Neighborhood occupancy trends sit below the metro median, so asset-level leasing performance will rely on competitive finishes and reliable operations. The property’s 1975 vintage is newer than the neighborhood’s older housing stock (average around 1950), offering relative competitiveness versus pre-war buildings; investors should still anticipate targeted system upgrades and common-area refreshes to meet contemporary renter expectations.
Demographic statistics aggregated within a 3-mile radius show a small decline in population over the last five years alongside a slight increase in households, pointing to smaller household sizes and a renter pool that may favor smaller formats. Forward-looking projections indicate roughly 6% population growth and a significant increase in households by 2028, which would expand the tenant base and support occupancy stability over the medium term for well-managed multifamily assets.
Safety signals are mixed. Within the Elmira metro (39 neighborhoods), this area ranks 8th for crime, indicating it performs below the metro median. Nationally, however, broader safety indicators land around the middle to slightly better-than-average ranges (e.g., violent and property offense percentiles above the national midpoint), suggesting the neighborhood is competitive in a national context.
Recent trends diverge: estimated property offenses have declined meaningfully over the past year, while estimated violent offenses show an uptick. For investors, this translates to cautious, block-agnostic underwriting: emphasize lighting, access control, and resident engagement, and monitor trendlines rather than relying on short-term swings.
Regional employment is anchored by advanced materials and manufacturing, supporting workforce housing demand along the Elmira–Corning corridor. Nearby employers provide commute convenience that can aid leasing and retention for value-oriented product.
- Corning — advanced materials & glass manufacturing (14.8 miles) — HQ
1198 Maple Ave offers stable workforce demand in a largely owner-occupied pocket of Elmira, with grocery access and mid-range neighborhood rents supporting everyday livability. According to CRE market data from WDSuite, neighborhood occupancy trails the metro median, so performance hinges on execution: competitive unit finishes, responsive management, and disciplined pricing. The 1975 vintage is newer than much of the surrounding stock, giving a competitive edge versus older buildings while still allowing targeted value-add for systems and common spaces.
Demographics within a 3-mile radius point to a growing household count and smaller household sizes, which can expand the renter pool and support occupancy and renewal rates. Ownership costs in the area are comparatively accessible, which may temper pricing power; however, this dynamic can reward well-priced, well-managed assets that focus on retention and operational efficiency.
- Workforce demand with commute access to regional employers supports leasing durability
- 1975 vintage is newer than much of the neighborhood stock, allowing competitive positioning plus targeted value-add
- 3-mile outlook shows rising households and smaller household sizes, expanding the renter pool
- Risks: below-metro occupancy and accessible ownership can temper pricing power—requirements for strong operations and value-focused positioning