| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Best |
| Demographics | 76th | Best |
| Amenities | 41st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 50 Franklin Ave, Clinton, NY, 13323, US |
| Region / Metro | Clinton |
| Year of Construction | 1989 |
| Units | 102 |
| Transaction Date | 2010-08-18 |
| Transaction Price | $2,270,385 |
| Buyer | KIRKLAND HOUSING DEVELOPM FUND COMPANY INC |
| Seller | CLINTON MANOR APARTMENTS HOUSING DEVELOPMENT |
50 Franklin Ave Clinton NY Multifamily Investment
Neighborhood occupancy is strong and renter demand appears durable for this 102-unit asset, according to WDSuite’s CRE market data. Steady performance at the neighborhood level supports an income-focused hold with disciplined capital planning.
Situated in suburban Clinton within the Utica–Rome metro, the property benefits from an A+ neighborhood rating and ranks 3rd out of 137 metro neighborhoods — competitive locally and top quartile metro-wide. Schools in the area average 3.66 out of 5 (10th of 137 in the metro and around the top quartile nationally), which can aid retention for family-oriented renters.
Amenity access is practical rather than destination-driven. Grocery and pharmacy availability track above the metro median, while cafes and parks are limited nearby. For investors, this mix supports daily needs and workforce housing positioning, though it may cap premium amenity-driven rent upside compared with urban cores informed by commercial real estate analysis.
Neighborhood rents are moderate (median contract rent of $912) and the rent-to-income ratio of 0.12 indicates lower affordability pressure relative to many markets, which can support lease stability and renewal rates. The neighborhood occupancy rate stands at 94.9% with a positive five-year trend; these figures reflect the neighborhood, not the property, and suggest stable absorption dynamics.
Within a 3-mile radius, demographics indicate population growth over the last five years (+16%) with households up roughly 10%. Projections call for continued population and household expansion through 2028, pointing to a larger tenant base and potential renter pool expansion. Renter-occupied housing accounts for roughly 39% of units, providing depth for multifamily demand without over-reliance on a single tenure segment. Median household incomes in the neighborhood test above many peer areas, supporting ability to pay while still positioning rentals as more accessible than ownership in this high-cost ownership market context.
Vintage context matters: the average neighborhood building stock skews older (early 1900s), while this asset’s 1989 construction is newer than most nearby inventory. That relative youth can be a competitive advantage versus older stock, though investors should still budget for modernization of systems and common areas to meet contemporary renter expectations.
WDSuite does not include a current crime ranking for this neighborhood in the available dataset, so comparative safety insights are limited. Investors typically benchmark neighborhood safety using metro and municipal sources alongside property-specific measures (lighting, access control, and on-site management) during due diligence.
Regional employers within commuting range help underpin workforce rental demand, led by telecommunications, payroll services, and packaging operations noted below.
- Frontier Communications — telecommunications (25.4 miles)
- ADP Syracuse — payroll & HR services (40.8 miles)
- WestRock — packaging & paper (41.5 miles)
Constructed in 1989 with 102 units, the property stands newer than much of the surrounding inventory and can compete effectively against older stock in Clinton. Neighborhood metrics point to income-supported demand, moderate rents, and a high neighborhood occupancy rate, which together support durable cash flow potential. According to CRE market data from WDSuite, neighborhood-level NOI per unit trends rank among the stronger cohorts locally, aligning with an income-oriented thesis while leaving room for targeted upgrades.
Three-mile demographics show recent population and household growth with additional expansion projected, implying a larger tenant base over the medium term. Renter-occupied share near 39% suggests balanced tenure dynamics that can aid leasing depth without overexposure. The main considerations include limited lifestyle amenities nearby and distance to major employment clusters, making pragmatic renovations and asset management central to maintaining pricing power.
- Newer 1989 vintage versus older neighborhood stock supports competitive positioning
- Strong neighborhood occupancy and income-supported rents reinforce cash flow stability (neighborhood metrics, not the property)
- 3-mile growth in population and households points to a larger tenant base and sustained leasing demand
- Potential to capture value through modernization of interiors, common areas, and systems
- Risks: limited nearby lifestyle amenities and commuting distance to larger employment centers may temper premium rent upside