| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 39th | Best |
| Demographics | 43rd | Good |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 33 Mechanic St, Norwich, NY, 13815, US |
| Region / Metro | Norwich |
| Year of Construction | 1975 |
| Units | 101 |
| Transaction Date | 1993-01-25 |
| Transaction Price | $100,000 |
| Buyer | NORWICH ALLIANCE CHURCH |
| Seller | DUNCO REALTY & EQUIPMENT |
33 Mechanic St Norwich NY Multifamily Investment
High renter concentration and steady neighborhood occupancy support durable income potential, according to WDSuite’s CRE market data, with location fundamentals that favor workforce demand in Norwich, New York.
This Inner Suburb neighborhood ranks first among 44 metro neighborhoods with an A+ neighborhood rating, signaling strong local fundamentals relative to the broader Chenango County market. WDSuite’s CRE market data shows neighborhood occupancy around 95%, placing it in the top quartile locally and supporting stability for multifamily operations.
Amenity access is a relative strength: cafes, restaurants, and parks score in high national percentiles, indicating a walkable daily-needs and lifestyle mix that can aid leasing and retention. By contrast, the immediate area shows limited grocery and pharmacy presence, which may shift some trips to nearby districts and is a consideration for tenant convenience.
The renter-occupied share is approximately three-quarters and ranks first among 44 metro neighborhoods (very high nationally), pointing to a deep tenant base and consistent demand for rental housing. Median contract rents trend on the lower side for the region, which can aid lease-up and reduce turnover risk, though it may temper pricing power compared with higher-cost metros.
Home values are lower than many national markets, suggesting a more accessible ownership landscape that can introduce some competitive pressure on higher-end rents. For investors, this typically argues for value-minded positioning and disciplined lease management rather than pushing top-of-market rates, aligning with workforce-oriented strategies validated by WDSuite’s commercial real estate analysis.
Comparable safety metrics at the neighborhood level are not available in the current WDSuite dataset. Investors often contextualize conditions using city or county benchmarks and on-the-ground diligence to understand how safety trends may influence renter retention and operating risk.
Regional employment is supported by nearby corporate offices that help sustain renter demand through commute access and steady workforce needs. The list below highlights a notable employer within driving range.
- Frontier Communications — telecommunications (10.3 miles)
Built in 1975, this 101-unit asset offers scale in a neighborhood that ranks at the top of the local metro and exhibits roughly mid-90s occupancy, according to CRE market data from WDSuite. The vintage suggests potential value-add through targeted modernization, while the area’s high renter concentration supports a broad tenant base and occupancy stability.
Positioning should emphasize workforce demand and retention: local rents skew moderate and home values are comparatively accessible, which argues for careful rent management and amenity upgrades that drive renewal rather than premium pricing. Limited grocery and pharmacy options nearby are a consideration for tenant convenience but are partly offset by strong food, cafe, and park access that can aid day-to-day livability.
- Top-ranked neighborhood locally with around 95% occupancy supporting leasing stability
- 1975 vintage presents value-add potential via selective renovations and system upgrades
- High renter concentration indicates a deep tenant base for a 101-unit asset
- Moderate rent levels favor retention-focused strategies and steady cash flow
- Risk: limited nearby grocery/pharmacy and an ownership market that can compete at some price points