| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 27th | Fair |
| Demographics | 44th | Fair |
| Amenities | 23rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 404 S Litchfield St, Frankfort, NY, 13340, US |
| Region / Metro | Frankfort |
| Year of Construction | 1989 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
404 S Litchfield St Frankfort — 24-Unit Multifamily
Neighborhood occupancy trends sit above the metro median, supported by stable renter demand and everyday amenities, according to WDSuite’s CRE market data.
The property sits in a suburban pocket of the Utica–Rome metro that is competitive among 137 metro neighborhoods (ranked 51), with neighborhood occupancy above the metro median and improving in recent years. Cafes and restaurants are relatively convenient for a smaller market, with coffee density in the top quartile nationally and grocery access above national midpoints, while public parks, pharmacies, and childcare options are limited in the immediate neighborhood.
Schools in the area trend around the national midpoint by rating, which supports day-to-day livability but is not a distinguishing demand driver. The neighborhood’s housing stock skews older on average (early 20th century), making a 1989 vintage asset comparatively newer and potentially more competitive versus legacy properties; investors should still plan for system updates typical for late-1980s construction.
Renter concentration in the neighborhood is below one-quarter of housing units, signaling a primarily owner-occupied area; this points to a thinner but potentially stable tenant base. Within a 3-mile radius, households have grown modestly while population edged down, suggesting smaller household sizes; forecasts indicate an increase in households through 2028, which can expand the local renter pool and support occupancy stability.
Home values in the neighborhood are lower relative to national norms, and median contract rents are also on the lower side, with rent-to-income ratios near national midpoints. For investors, this mix implies balanced affordability pressure, supporting retention while moderating near-term pricing power. These observations reflect commercial real estate analysis drawn from WDSuite’s datasets.
Current crime metrics for this neighborhood are not available in WDSuite’s dataset, so comparative rankings versus the Utica–Rome metro or national percentiles cannot be stated. Investors commonly benchmark local conditions using multiple sources; consider reviewing recent municipal reports and trend data alongside property-level security measures to contextualize resident experience and leasing risk.
Regional employment is diversified across utilities and communications, providing commute-accessible jobs that can support renter retention for workforce-oriented units.
- Frontier Communications — telecommunications (32.4 miles)
This 24-unit, 1989-vintage asset offers a relative edge versus the neighborhood’s predominantly early-1900s housing stock, which can translate into competitive positioning with targeted renovations. Neighborhood occupancy trends are above the metro median and have improved over the past five years, indicating support for leasing stability at this scale. Based on CRE market data from WDSuite, local home values and rents track on the more accessible side nationally, which favors retention but may temper outsized rent growth expectations.
Demand context is mixed but manageable: the neighborhood is largely owner-occupied, yet the 3-mile area shows rising household counts and forecasts for additional household growth by 2028, expanding the tenant base. Amenities are adequate for daily living—with comparatively strong cafe/restaurant density—though limited parks and pharmacies may narrow lifestyle appeal. Execution risk centers on capturing value through capital planning and distinguishing the asset against both older stock and accessible ownership options.
- 1989 vintage is newer than neighborhood norms, creating value-add potential with targeted updates
- Neighborhood occupancy above metro median supports leasing stability for a 24-unit asset
- Accessible rent and value levels favor retention and steady cash flow management
- 3-mile household growth outlook suggests a gradually expanding renter pool
- Risks: owner-leaning area and limited parks/pharmacies may constrain premium positioning