| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 30th | Fair |
| Demographics | 38th | Poor |
| Amenities | 5th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 114 Cottage St, Oriskany Falls, NY, 13425, US |
| Region / Metro | Oriskany Falls |
| Year of Construction | 1990 |
| Units | 29 |
| Transaction Date | 2006-05-10 |
| Transaction Price | $50,000 |
| Buyer | BEAN PROPERTIES LLC |
| Seller | HYNES STEVEN |
114 Cottage St Oriskany Falls 29-Unit Multifamily
Neighborhood occupancy has been steady and rents remain modest relative to incomes, according to WDSuite’s CRE market data—supporting a defensible, income-focused strategy in rural Oneida County.
Built in 1990, the asset is newer than much of the surrounding housing (local stock trends early 20th century), creating relative competitive positioning while still warranting selective modernization for systems and common areas. In a rural context with limited nearby services, underwriting should emphasize dependable operations, parking, and in-unit functionality over walkability premiums.
At the neighborhood level, occupancy ranks 43rd among 137 Utica-Rome neighborhoods, which is competitive and points to stable utilization of existing units. Renter-occupied share is about one-fifth of housing, indicating a smaller but durable tenant base that favors focused leasing, renewals, and resident retention rather than aggressive lease-up assumptions. Low median contract rents versus local incomes (rent-to-income around the low teens) suggest manageable affordability pressure and support for collections.
Within a 3-mile radius, WDSuite data shows population declines historically with further softening forecast, while household counts are roughly stable to slightly higher ahead—implying smaller household sizes. For multifamily, this can help sustain a renter pool even as total population contracts, but it argues for conservative absorption and measured rent growth expectations. Rising median household incomes in the 3-mile area further support payment capacity.
Home values are comparatively accessible for ownership, which can create competition with entry-level buying and cap pricing power. Amenities score low in the metro (few food, grocery, park, and service options), so demand is driven more by utility, commute patterns, and unit quality than by lifestyle features. For investors, this favors pragmatic operations and cost-effective enhancements over amenity-heavy repositioning informed by commercial real estate analysis.
Neighborhood-specific safety metrics were not available in the provided dataset. Investors should corroborate conditions through local records, insurer guidance, and site observations, and budget for practical measures—lighting, access controls, and upkeep—that support resident confidence and retention.
Regional employment access is tied to telecom and business services in the Utica-Rome and Syracuse corridors, which can support workforce renter demand for residents willing to drive.
- Frontier Communications — telecom operations (18.0 miles)
- ADP Syracuse — payroll & HR services (38.6 miles)
- WestRock — packaging & paper (38.7 miles)
This 29-unit, 1990-built property offers relative vintage advantage versus older neighborhood stock, with scope for targeted value-add to enhance competitiveness. Neighborhood occupancy is competitive among Utica-Rome areas, and low rents relative to incomes support collections and retention, according to CRE market data from WDSuite. Given rural, amenity-light dynamics and accessible ownership costs, investors should emphasize durable operations, modest finish upgrades, and disciplined expense control over amenity-led premiums.
Demographic trends within a 3-mile radius show population contraction but roughly steady households ahead, implying smaller household sizes and a renter pool sustained by utility rather than lifestyle. The investment case centers on stable occupancy potential, pragmatic renovations, and careful rent management, balanced against thinner renter depth and competition from entry-level ownership.
- 1990 vintage newer than local stock, with value-add potential in systems and interiors
- Competitive neighborhood occupancy and low rent-to-income support payment capacity
- Utility-driven demand in a rural setting favors durable, cost-effective operations
- Risks: thinner renter base, amenity-light location, and ownership alternatives may limit pricing power