| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 23rd | Fair |
| Demographics | 43rd | Fair |
| Amenities | 12th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 14930 State Route 30, Malone, NY, 12953, US |
| Region / Metro | Malone |
| Year of Construction | 1993 |
| Units | 20 |
| Transaction Date | 2004-06-30 |
| Transaction Price | $425,000 |
| Buyer | SET TWO PROPERTIES LLC |
| Seller | YELLE GAETAN |
14930 State Route 30 Malone Multifamily Investment
Positioned in a rural submarket with a modest renter concentration, the property benefits from a relatively newer 1993 vintage that can compete against older local stock, according to WDSuite’s CRE market data.
Malone’s rural setting offers quiet living with selective convenience. Grocery access ranks competitively within the metro (8 out of 35 neighborhoods), while restaurant options are also competitive (10 out of 35). Broader amenities like cafes, parks, pharmacies, and childcare are sparse, which reinforces a drive-to-services lifestyle rather than walkable convenience.
The neighborhood’s housing stock skews older on average (1955), so a 1993 asset stands out as newer relative to local comparables—often translating to fewer near-term capital needs and potential leasing appeal versus older inventory. Neighborhood occupancy trends are competitive among Malone neighborhoods (13 out of 35), supporting baseline stability for well-managed assets.
Tenure patterns indicate a smaller renter-occupied share at the neighborhood level (around one-fifth of units), which suggests a shallower in-neighborhood renter pool. However, demographics aggregated within a 3-mile radius show a renter share closer to roughly half of occupied housing, providing a wider catchment for multifamily demand when marketing beyond the immediate blocks.
Ownership costs locally are relatively accessible, with home values and value-to-income ratios below national norms. For investors, this can mean greater competition from entry-level ownership options and a need to emphasize convenience, maintenance-free living, and professional management to sustain retention and pricing. Household incomes in the neighborhood rank among the highest in the Malone metro and sit above national averages, which can support rent collections for appropriately positioned units.
Comparable safety context is important for underwriting, but neighborhood-level crime ranks and national percentiles are not available in WDSuite for this location. Investors typically benchmark property performance alongside broader Malone and Franklin County trends and assess on-site security, lighting, and property management practices as part of due diligence.
This 1993-vintage, 20-unit asset offers relative age advantage versus an older surrounding housing base, supporting competitive positioning without immediate heavy renovations. The neighborhood’s renter concentration is modest, yet the 3-mile radius provides a broader tenant catchment to sustain occupancy. According to CRE market data from WDSuite, local grocery and restaurant access is competitive among Malone neighborhoods, while other amenities are limited—favoring assets that market convenience, professional management, and dependable operations.
Home values and value-to-income ratios indicate a high-ownership, lower-cost environment, so renters have alternatives; success often hinges on operational execution and offering a strong maintenance and convenience proposition. Demographic patterns within 3 miles point to smaller household sizes over time, which can support demand for well-managed smaller units and steady renewal potential when pricing is kept in line with local incomes.
- Newer 1993 vintage versus local stock supports competitive positioning and moderated near-term capex.
- Competitive grocery and restaurant access in the metro aids day-to-day livability marketing.
- 3-mile renter base expands beyond the immediate neighborhood, supporting occupancy stability.
- Operational focus can offset ownership competition by emphasizing maintenance, convenience, and professional management.
- Risks: limited amenity density, modest in-neighborhood renter concentration, and competition from entry-level ownership.