| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Good |
| Demographics | 33rd | Poor |
| Amenities | 25th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 947 Floyd Ave, Rome, NY, 13440, US |
| Region / Metro | Rome |
| Year of Construction | 1973 |
| Units | 23 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
947 Floyd Ave Rome Multifamily Investment Opportunity
Stabilizing renter demand and a parks-forward, inner-suburban setting position this 23-unit asset for steady operations, according to WDSuite’s CRE market data. The local renter base skews higher than many metro peers, supporting occupancy resilience through market cycles.
Located in an Inner Suburb of Rome, the neighborhood balances quiet residential streets with access to open space. Park availability is a relative strength (top quartile nationally), while retail conveniences such as cafes, groceries, and pharmacies are sparse, suggesting a more car-dependent tenant profile. Restaurant density sits around the metro middle, which can support day-to-day livability without relying on a dense commercial core.
Renter-occupied housing accounts for a higher share of units than many Utica–Rome neighborhoods (rank 21 of 137; high national percentile), indicating a deeper tenant base for multifamily owners. Neighborhood occupancy has trended up over the past five years, supporting stability for well-managed assets through modest cycles.
Within a 3-mile radius, demographics point to a growing renter pool: recent years show gains in households alongside a gradual reduction in average household size, a combination that typically supports demand for rental units. Looking ahead, projections call for additional household growth by the next planning window, which can aid leasing velocity and renewal retention for competitively positioned properties.
Ownership costs in this pocket of Oneida County are comparatively accessible relative to higher-cost metros, which can introduce some competition with entry-level homeownership. However, a rent-to-income profile near the neighborhood median suggests manageable affordability pressure, favoring stable retention for properties with disciplined lease management and modest capital improvements.
Comparable neighborhood-level safety metrics were not available from WDSuite for this location at the time of analysis. Investors typically benchmark neighborhood safety against both metro and national trends; in the absence of a current rank or percentile, it is prudent to review broader Utica–Rome reporting and on-the-ground observations as part of standard diligence.
Regional corporate employers within commuting distance help underpin area employment and renter demand, including Frontier Communications, ADP, and WestRock. While not adjacent, these offices contribute to the broader labor market that supports leasing and renewals.
- Frontier Communications — telecommunications (37.2 miles)
- ADP Syracuse — payroll & HR services (39.0 miles)
- WestRock — paper & packaging (40.4 miles)
Built in 1973, the property is newer than much of the surrounding housing stock, offering relative competitiveness versus older assets while still warranting prudent capital planning for aging systems. The neighborhood shows a higher renter concentration than many Utica–Rome peers, and park access is a local amenity strength, supporting day-to-day livability for workforce tenants.
Based on CRE market data from WDSuite, neighborhood occupancy has edged higher over the past five years, and 3-mile trends indicate household growth with smaller average household sizes—both supportive of a larger tenant base and steady leasing. At the same time, comparatively accessible ownership options in the area may temper pricing power, making asset performance most durable where operations focus on value-oriented finishes, service quality, and disciplined renewals.
- Renter-occupied share is elevated versus many metro neighborhoods, indicating deeper tenant demand.
- 1973 vintage offers competitive positioning versus older local stock, with clear value-add and systems-upgrade pathways.
- Household growth and smaller household sizes within 3 miles support occupancy stability and renewal potential.
- Risk: Accessible homeownership and limited nearby retail can constrain rent growth, requiring focus on retention and operational efficiency.