| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 33rd | Good |
| Demographics | 52nd | Good |
| Amenities | 36th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 160 Wygant Rd, Horseheads, NY, 14845, US |
| Region / Metro | Horseheads |
| Year of Construction | 1985 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
160 Wygant Rd Horseheads Multifamily Investment Opportunity
Neighborhood occupancy and renter demand appear resilient for this 40-unit, 1985-vintage asset, according to WDSuite’s CRE market data, with local conditions that support stable leasing. The area’s tenant base and commuting access provide a practical backdrop for long-term operations.
The property sits within an Inner Suburb pocket of the Elmira, NY metro that ranks 7 out of 39 neighborhoods (A- rating), placing it in the top quartile among metro peers. Parks and daily conveniences are a relative strength, with park and pharmacy access landing in the top quartile nationally, while restaurant density is above the national median. Café, grocery, and childcare densities are thinner, so residents rely more on clustered nodes rather than immediate walk-to options.
From an operations standpoint, the neighborhood’s occupancy rate is reported at 86.3% and has eased modestly over five years, a signal to underwrite steady but not aggressive lease-up assumptions. Renter-occupied housing accounts for about 46% of neighborhood units, indicating a meaningful renter concentration that supports depth of demand without overreliance on one segment.
Demographic statistics aggregated within a 3-mile radius show households have grown even as average household size has edged down, which typically widens the renter pool and supports occupancy stability. Near-term forecasts point to additional household growth and rising incomes, suggesting a larger tenant base over the medium term, even if the share of renter-occupied units fluctuates.
Vintage is an advantage: most nearby housing stock skews older (average construction year well before mid-century), while this property was built in 1985. That relative youth can be competitively positioned versus older inventory; however, investors should still plan for system modernization and selective value-add to meet current renter expectations. These dynamics align with takeaways from WDSuite’s commercial real estate analysis for the submarket.
Safety indicators are comparatively favorable in a national context. Violent offense metrics track in the top quartile nationally, and overall crime sits above the national median for safety, based on WDSuite’s datasets. Recent trends show a year-over-year uptick in property offenses even as violent categories improved, so underwriting should reflect standard precautions and routine property-level security measures rather than assume uniformly declining incident rates.
At the metro level (Elmira, 39 neighborhoods total), the area compares well to many peers, but conditions can vary block to block. A practical approach is to lean on current local data, evaluate lighting and visibility around the asset, and coordinate with management for incident monitoring and response.
Regional employment is anchored by advanced materials and manufacturing, which supports steady renter demand through diversified skilled and administrative roles. Notably, proximity to a major headquarters provides a stable commuter base that can aid retention and leasing.
- Corning — advanced materials (12.5 miles) — HQ
This 1985-vintage, 40-unit asset offers a relative age advantage versus predominantly older neighborhood stock, positioning it well with selective renovations for modernization and renter appeal. Neighborhood occupancy is in the mid-80s and has softened modestly, suggesting prudent lease-up assumptions but still supportive fundamentals. Household growth within a 3-mile radius points to a larger tenant base over the medium term, which can reinforce occupancy stability even as household sizes trend smaller. According to CRE market data from WDSuite, rent levels and home values in the area indicate manageable affordability pressure, which can support retention, though accessible ownership options may compete at the margin.
Operationally, investors should weigh the area’s serviceable amenity set—strong parks and pharmacy access with thinner grocery/café options—alongside comparative safety that is better than national norms but with a recent uptick in property offenses. The employment base, including proximity to a major headquarters employer, underpins steady demand for workforce and professional renters.
- 1985 vintage offers competitive positioning versus older local stock with value-add potential
- Neighborhood occupancy in the mid-80s supports stable operations with conservative underwriting
- 3-mile household growth and smaller household sizes expand the renter pool over time
- Employment anchor nearby supports leasing durability across skilled and administrative roles
- Thinner grocery/café density and a recent property-offense uptick warrant prudent asset management