| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 33rd | Good |
| Demographics | 52nd | Good |
| Amenities | 36th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 180 Wygant Rd, Horseheads, NY, 14845, US |
| Region / Metro | Horseheads |
| Year of Construction | 1990 |
| Units | 25 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
180 Wygant Rd, Horseheads NY Multifamily with Stable Renter Base
1990-vintage, 25-unit asset in an inner-suburban setting where renter demand is supported by a relatively high renter-occupied share at the neighborhood level, according to WDSuite’s CRE market data.
The property sits in an Inner Suburb neighborhood of the Elmira metro that is competitive among Elmira neighborhoods (A- neighborhood rating; rank 7 out of 39). Local convenience is mixed: park and pharmacy access trends above national averages, while immediate grocery and cafe density is limited, suggesting residents rely on nearby corridors for daily needs.
For investors, neighborhood occupancy trends signal active leasing management needs: the neighborhood’s occupancy rate tracks below the metro median, but renter-occupied share is high for the area and sits in the top quartile nationally. That combination points to a meaningful tenant base with potential to sustain leasing velocity when pricing is calibrated to local conditions, based on commercial real estate analysis from WDSuite.
Within a 3-mile radius, recent history shows slight population contraction but a modest increase in households alongside smaller average household sizes. Forward-looking projections indicate population growth and a larger household count by the forecast horizon, which supports a broader tenant base and can reinforce occupancy stability for well-positioned multifamily. Neighborhood median contract rents have risen over the past five years and are projected to climb further, while rent-to-income levels suggest measured affordability pressure that can support disciplined rent growth strategies.
Ownership costs in the surrounding area are comparatively accessible versus higher-cost metros, which can introduce some competition from ownership. Even so, the elevated neighborhood renter concentration and projected household growth imply durable rental demand for functional, well-managed units.
Safety indicators trend comparatively favorable versus many U.S. neighborhoods: violent-offense metrics sit in the top quartile nationally, and property-offense levels trend better than average. These signals reflect broader neighborhood conditions rather than this specific property.
Investors should note that the latest one-year data show a recent uptick in property offenses at the neighborhood level even as violent-offense trends improved year over year. Monitoring trajectory and applying routine security and lighting best practices can help support resident retention.
Proximity to regional employers supports workforce housing demand, with a notable concentration in advanced materials and manufacturing.
- Corning — advanced materials & manufacturing (12.6 miles) — HQ
This 1990-built, 25-unit property offers a practical value-add or durable-income profile in a neighborhood that ranks competitively within the Elmira metro. The asset is newer than much of the surrounding housing stock, which can provide a relative edge against older comparables, while still leaving room for modernization of finishes and systems as part of targeted capital programs. According to CRE market data from WDSuite, the neighborhood’s renter-occupied share is elevated nationally, indicating depth in the tenant base even as overall occupancy in the area tracks below the metro median.
Three-mile demographics show a shift toward smaller households and an increase in household counts, with forecasts pointing to additional household growth and rising contract rents. Combined with generally moderate rent-to-income levels, these trends support the case for steady leasing and measured pricing power. Ownership remains comparatively accessible in this market, which can introduce competition, but the area’s renter concentration and commute access to regional employers help sustain multifamily demand.
- 1990 vintage offers competitive positioning versus older stock with clear modernization/value-add angles
- Elevated neighborhood renter-occupied share supports tenant base depth and leasing stability
- Household growth and rising rents in the 3-mile area underpin demand and revenue potential
- Proximity to regional employers supports workforce demand and retention
- Risks: below-metro neighborhood occupancy, limited immediate retail amenities, and a recent uptick in property offenses