| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Best |
| Demographics | 68th | Best |
| Amenities | 26th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 40 Old Boorne Dr, Clinton, NY, 13323, US |
| Region / Metro | Clinton |
| Year of Construction | 1978 |
| Units | 48 |
| Transaction Date | 2016-07-04 |
| Transaction Price | $2,300,000 |
| Buyer | Time Equities Inc. |
| Seller | Clinton Real Estate |
40 Old Boorne Dr, Clinton NY Multifamily Investment
Renter demand is supported by a relatively high neighborhood renter-occupied share and rising household incomes, according to WDSuite’s CRE market data. The property’s suburban setting offers steady workforce appeal with manageable rent-to-income levels that can aid retention under careful commercial real estate analysis.
This suburban neighborhood of the Utica-Rome metro is competitive among Utica-Rome, NY neighborhoods (ranked 16th of 137 with an A rating), signaling balanced fundamentals for long-term multifamily operations. Neighborhood occupancy has softened in recent years and trends below national medians, so underwriting should prioritize lease management and marketing efficiency to sustain stability.
Renter-occupied housing concentration sits well above national norms (84th percentile), indicating a deeper tenant base for multifamily. At the same time, home values in this area are relatively low versus the nation, which can introduce some competition from ownership; operators typically offset this with service quality and product differentiation rather than price alone. Median contract rents benchmark above many metro peers and land in the upper national middle, supporting revenue potential while keeping affordability pressure moderate given rent-to-income readings around the low-20% range.
Within a 3-mile radius, recent population and household growth point to a larger tenant base, and projections show households continuing to increase even as population eases, implying smaller household sizes and continued demand for rental units. Income growth has also been strong locally, which supports occupancy stability and measured rent growth when paired with prudent multifamily property research from WDSuite.
Local amenities are limited in the immediate vicinity (few parks, pharmacies, and cafés), with a modest presence of grocery and restaurants. For investors, this typically means residents rely on nearby town centers and key corridors for services; properties that emphasize on-site conveniences and parking can perform competitively in such suburban settings.
Neighborhood-level crime statistics are not available in WDSuite for this location, so comparative safety positioning within the Utica-Rome, NY metro cannot be directly stated. Investors commonly evaluate safety alongside rent and occupancy trends, local amenities, and employer proximity to understand resident retention and leasing velocity.
Given the lack of specific crime figures here, a prudent approach is to review multiple sources and evaluate trends at the broader city and county levels to frame risk, then align on-site operations (lighting, access control, resident engagement) with market expectations.
Regional employers within commuting distance help support renter demand and lease retention for workforce-oriented properties. Notable nearby employers include Frontier Communications, ADP Syracuse, and WestRock.
- Frontier Communications — telecommunications (26.8 miles)
- ADP Syracuse — payroll & HR services (40.9 miles)
- WestRock — packaging & paper products (41.6 miles)
Built in 1978, the asset is newer than much of the surrounding housing stock, offering relative competitiveness versus older properties while still presenting potential value-add through targeted system updates and modernization. The neighborhood ranks competitively within the Utica-Rome metro and shows a high renter-occupied share, supporting demand depth even as occupancy trends sit below national medians. According to CRE market data from WDSuite, rents benchmark favorably versus many metro peers while rent-to-income levels suggest manageable affordability pressure that can aid retention.
Within a 3-mile radius, recent gains in population and households expand the tenant base, and forecasts indicate further household growth even as population moderates—an indicator of smaller household sizes that typically sustains rental demand. Amenities are sparse close-in, but proximity to regional employers and town centers can underpin steady leasing for well-operated suburban assets.
- Competitive metro ranking with high renter-occupied share supports tenant base depth
- 1978 vintage offers relative competitiveness versus older stock with clear modernization upside
- Rents above many metro peers with manageable rent-to-income readings support pricing power and retention
- 3-mile household growth and income gains reinforce demand for rental units and occupancy stability
- Risk: below-median occupancy and limited nearby amenities require active leasing, resident services, and asset management