| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Good |
| Demographics | 41st | Poor |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 17 Gina Marie Ave, Cairo, NY, 12413, US |
| Region / Metro | Cairo |
| Year of Construction | 1976 |
| Units | 40 |
| Transaction Date | 2017-07-31 |
| Transaction Price | $533,334 |
| Buyer | PINE TREE GARDENS LLC |
| Seller | PACIFICO RAYMOND F |
17 Gina Marie Ave Cairo NY Multifamily Investment
Renter demand is supported by a high-cost ownership landscape relative to local incomes, according to WDSuite’s CRE market data, suggesting pricing power for well-managed assets in rural Greene County. Neighborhood occupancy has inched higher in recent years, indicating stable tenant retention even as amenities remain limited.
Cairo’s setting is rural with sparse retail and services nearby, so most residents rely on driving for daily needs. Neighborhood amenity counts are low, which typically favors value-oriented renters and workforce tenants who prioritize space and price over walkable conveniences.
The property’s 1976 vintage is newer than the neighborhood’s older housing stock (average construction year 1941), which can improve competitive positioning versus legacy assets. Investors should still underwrite aging systems and potential modernization needs typical of 1970s construction to support leasing and retention.
Within the neighborhood, a modest share of housing units are renter-occupied (about one quarter), indicating a thinner but identifiable tenant base. That renter concentration can support multifamily absorption at the submarket scale, though marketing may need to reach a broader radius to maintain occupancy.
Demographic statistics aggregated within a 3-mile radius indicate population has contracted in recent years, which can temper long-term demand growth. Even so, elevated home values relative to local incomes (value-to-income levels are high by national comparison) reinforce reliance on rental housing, supporting lease stability for competitively priced units based on commercial real estate analysis from WDSuite.
Comparable neighborhood-level crime metrics are not available in WDSuite for this location. Investors typically benchmark property performance alongside county and state trends, combine that with onsite security practices, and review recent incident patterns with local authorities to contextualize risk. Given the rural setting, underwriting should focus on lighting, access control, and resident communication rather than block-level assumptions.
The broader labor market draw includes regional technology and professional services employers that broaden the commuter tenant base. Notable nearby employer:
- IBM — technology (27.9 miles)
This 40-unit, 1976-vintage asset offers relative competitiveness versus older neighborhood stock while allowing for targeted upgrades to enhance durability and rentability. Elevated ownership costs compared with local incomes, according to CRE market data from WDSuite, help sustain renter reliance on multifamily, supporting occupancy and pricing for well-managed units. Limited nearby amenities and a modest renter-occupied share suggest marketing to a wider catchment and positioning around value, parking, and space.
Population contraction in the 3-mile area argues for disciplined lease management and ROI-focused capital plans, yet the property’s newer-than-average vintage and rural workforce appeal can underpin steady tenancy. Underwriting that prioritizes system updates and efficient turns should help capture durable cash flow in a market where ownership remains less accessible.
- 1976 vintage is newer than neighborhood average, offering competitive positioning with selective modernization.
- Elevated ownership costs vs. incomes support rental demand and lease retention potential.
- Rural setting favors value- and space-oriented renters; parking and unit functionality can differentiate.
- Risk: population contraction and limited amenities require proactive marketing and conservative growth assumptions.