| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 31st | Good |
| Demographics | 36th | Poor |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 146 W Dominick St, Rome, NY, 13440, US |
| Region / Metro | Rome |
| Year of Construction | 1985 |
| Units | 43 |
| Transaction Date | 2009-05-01 |
| Transaction Price | $113,000 |
| Buyer | ANTONOWICZ PETER |
| Seller | WBC ASSOCIATES |
146 W Dominick St Rome NY Multifamily Investment
Renter demand in the surrounding neighborhood is deep and stable, supported by a high share of renter-occupied units and steady occupancy, according to WDSuite’s CRE market data. This positioning favors durable cash flow for a 43-unit asset while keeping expectations grounded on rent growth pace.
The property sits in an Inner Suburb location of Rome with strong daily-life convenience. Neighborhood amenities rank in the top quartile nationally, with dense access to parks and groceries supporting resident retention and leasing. Within the Utica–Rome metro (137 neighborhoods), restaurants and cafes are competitive at the top of the pack (e.g., restaurants ranked 3rd and cafes 7th), which helps sustain lifestyle appeal without relying on destination retail. This context aligns with balanced demand drivers highlighted by commercial real estate analysis from WDSuite.
Multifamily fundamentals at the neighborhood level appear steady. The neighborhood occupancy rate is reported at 90.6% and has improved over the past five years, pointing to stable lease-up and renewal dynamics rather than peak-cycle volatility. Renter-occupied share is high at the neighborhood level (76.6% of housing units are renter-occupied), indicating a sizeable tenant base that can support ongoing absorption for workforce-oriented product. Median contract rents remain modest relative to many metros, suggesting manageable affordability pressure but also a more measured path for rent growth.
Demographics are aggregated within a 3-mile radius and show a modest historical dip in population alongside growth in households, consistent with smaller average household sizes. Projections indicate population and household counts are expected to rise through the medium term, which should expand the renter pool and support occupancy stability. Income trends in the 3-mile radius show notable gains in both median and mean household income over recent periods, adding some cushion for measured rent increases while keeping value positioning important.
Ownership costs in the immediate neighborhood are relatively low by national standards, which can introduce competition from entry-level ownership. At the same time, a high neighborhood renter concentration and everyday-amenity depth help sustain the appeal of professionally managed rentals, supporting retention even when residents have more accessible ownership options.
Safety signals trend favorably in national comparisons: the neighborhood sits in the top quartile nationwide for lower violent offense rates, and property offenses are also comparatively favorable nationally. Over the last year, both violent and property offense estimates declined, indicating improving conditions rather than deterioration.
Within the Utica–Rome metro (137 neighborhoods), some crime-rate ranks are less favorable, which means safety performance can appear mixed when compared locally even as national percentiles remain strong. For investors, the takeaway is that current trends point to gradual improvement, but leasing narratives should remain pragmatic and property-level measures should continue reinforcing resident confidence.
Regional employment access is anchored by established corporate offices within commuting distance, supporting a steady base of renters who prioritize reliable paychecks and predictable schedules. The employers below represent consistent white-collar and operations roles relevant to workforce housing demand.
- Frontier Communications — telecommunications operations (36.6 miles)
- ADP Syracuse — payroll & HR services (37.7 miles)
- WestRock — paper & packaging (39.1 miles)
146 W Dominick St was built in 1985, newer than much of the surrounding housing stock, giving it a competitive edge versus older product while still warranting routine capital planning for aging systems and selective upgrades. Neighborhood-level fundamentals point to stable renter demand: occupancy has trended upward, renter-occupied share is high, and nearby amenities are among the metro’s strongest—factors that typically support leasing velocity and retention. According to CRE market data from WDSuite, rents remain relatively modest versus income, favoring stability over aggressive growth assumptions.
Forward-looking 3-mile demographic indicators show households are projected to increase, which should expand the tenant base and support sustained occupancy. However, comparatively accessible ownership costs in the immediate neighborhood can cap pricing power, suggesting that value-oriented positioning and operational execution will be key levers for performance.
- 1985 vintage offers competitive positioning versus older local stock, with manageable modernization plans
- Neighborhood occupancy stability and high renter concentration support demand depth
- Strong everyday amenities (parks, groceries, dining) reinforce retention and leasing
- 3-mile household growth outlook expands the tenant base and supports steady absorption
- Risk: accessible ownership options may limit rent growth; execution should focus on value and resident experience