| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 25th | Poor |
| Demographics | 88th | Best |
| Amenities | 19th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 110 S Shore Rd, Old Forge, NY, 13420, US |
| Region / Metro | Old Forge |
| Year of Construction | 1989 |
| Units | 25 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
110 S Shore Rd Old Forge Multifamily Investment
1989-vintage, 25-unit asset positioned in a high-income, predominantly owner-occupied neighborhood, suggesting targeted value-add and steady niche demand according to WDSuite’s CRE market data.
Old Forge sits within the Utica–Rome metro and rates in the top quartile among 137 metro neighborhoods (A rating), indicating competitive neighborhood fundamentals for a small-market setting. Local amenities are limited at the neighborhood level, but access to parks and outdoor recreation is relatively stronger than national norms, which supports quality-of-life appeal for residents who prioritize open space.
The property’s 1989 construction is newer than the neighborhood’s older housing stock (average vintage skews mid-20th century). For investors, that typically means a more competitive baseline versus legacy assets, while still planning for selective system updates and common-area refresh to meet contemporary renter expectations.
Within a 3-mile radius, demographic statistics point to a higher-income household base and modest growth in households in recent years, which can support rent collections and resident stability. Projections show smaller household sizes ahead, which can expand the renter pool even if overall population trends soften, reinforcing demand for professionally managed units rather than larger, ownership-oriented homes.
Tenure metrics show a very low share of renter-occupied housing units locally (both within the neighborhood and across the 3-mile radius). For multifamily, that implies a thinner but potentially sticky tenant base; lease-up may be slower, but resident retention can be durable. With elevated home values in the area relative to many small markets, ownership remains a high-cost commitment for some households, which can sustain rental demand, though investors should underwrite potential competition from ownership options.
From a broader commercial real estate analysis perspective, restaurant density is modest and everyday retail is sparse within the neighborhood, so residents likely rely on a wider trade area for goods and services. This dynamic underscores the importance of property-level conveniences and asset quality to attract and retain residents.
Comparable neighborhood safety data for this area is limited in the current dataset, so investors often supplement with municipal reports and property-level incident logs for a more precise picture. At the metro scale, small-resort towns can experience seasonal fluctuations in activity; prudent underwriting considers on-site lighting, access control, and management presence to support resident comfort and leasing stability.
This 25-unit property’s 1989 vintage is advantaged versus the neighborhood’s older housing stock, positioning it well against legacy rentals while leaving room for selective upgrades. The surrounding area is predominantly owner-occupied, which points to a narrower but potentially stable renter cohort; underwriting should emphasize retention and targeted amenities rather than rapid lease-up. According to CRE market data from WDSuite, household incomes in the immediate area are comparatively strong and home values are elevated for a small market, a combination that can support collections and steady pricing while reinforcing the role of rentals for residents preferring flexibility.
Demographic statistics aggregated within a 3-mile radius show recent growth in households and an outlook for smaller household sizes, which can sustain multifamily demand even if population growth moderates. Amenity density is modest locally, so asset-level quality and management execution are key to maintaining occupancy and rent integrity.
- Newer 1989 construction relative to neighborhood stock supports competitive positioning with targeted value-add potential.
- Predominantly owner-occupied area implies a thinner but stable renter base; focus on retention and resident experience.
- Higher-income households and elevated home values support collections and pricing discipline, per WDSuite data.
- Modest local amenities increase the importance of property-level features and active management.
- Risks: smaller renter pool and potential seasonality; underwrite slower lease-up and prioritize retention-oriented operations.