| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 33rd | Good |
| Demographics | 18th | Poor |
| Amenities | 41st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1427 Oneida St, Utica, NY, 13501, US |
| Region / Metro | Utica |
| Year of Construction | 1975 |
| Units | 36 |
| Transaction Date | 2013-03-21 |
| Transaction Price | $136,000 |
| Buyer | ONEIDA STREET RENTALS LLC |
| Seller | 1427 ONEIDA HOLDINGS LLC |
1427 Oneida St, Utica Multifamily Investment Snapshot
Neighborhood renter concentration and steady 3-mile household growth point to a durable tenant base, according to WDSuite’s CRE market data. Investors should expect demand supported by local services and commuter convenience, with pricing set against an accessible ownership market.
Located in an Inner Suburb of Utica, the property sits within a neighborhood rated C+, with fundamentals that are competitive among Utica-Rome neighborhoods and mixed when compared nationally. Dining and cafe density ranks in the upper tier nationally (restaurants and cafes each in the 80th+ percentiles), while groceries are solidly above average. Parks and pharmacies are limited nearby, which may shape resident preferences but does not typically deter workforce renters seeking everyday convenience.
Neighborhood occupancy is in the mid-80s and has trended upward over the past five years, suggesting resiliency through cycles. Renter-occupied housing accounts for a majority share of units (56.5% renter concentration), indicating meaningful depth in the tenant base for multifamily owners. Median contract rents in the neighborhood are modest by national standards, though the local rent-to-income ratio is elevated, which calls for thoughtful lease management to support retention.
Within a 3-mile radius, demographics show population and household growth in recent years with further gains forecast, pointing to a gradually expanding renter pool. Household sizes are projected to ease, which can sustain demand for smaller formats and efficient unit layouts. This growth backdrop, combined with everyday amenities, supports occupancy stability for well-managed assets, as reflected in WDSuite’s multifamily property research.
Ownership costs in the immediate neighborhood are relatively accessible compared with national levels, creating some competition with renting; however, this can also encourage renters to balance space and location against monthly costs, reinforcing the role of professionally managed apartments. Owners who emphasize value, maintenance responsiveness, and convenient access to local services can capture stable demand.
Safety conditions compare favorably at the national level, with overall crime metrics in the top quartile nationwide, according to WDSuite. Recent trends indicate a meaningful year-over-year decline in violent offenses, while property-related incidents have eased modestly. These indicators suggest comparatively stronger safety performance than many U.S. neighborhoods, though results vary by micro-location and over time.
Within the Utica-Rome, NY metro (137 neighborhoods), the area performs competitively versus peers. Investors should continue to monitor multi-year trends and property-level measures (lighting, access control, and resident engagement) to maintain leasing velocity and retention.
Regional employment access is anchored by corporate offices within commuting range, supporting workforce renter demand and lease stability. Employers noted below reflect roles accessible to residents.
- Frontier Communications — corporate offices (31.2 miles)
Built in 1975, the 36-unit asset is newer than much of the surrounding housing stock, providing a relative competitive edge versus older properties while still offering potential value-add through targeted modernization and systems upgrades. Neighborhood occupancy has improved over the last five years, and a majority renter-occupied housing base supports a durable tenant pool. According to CRE market data from WDSuite, amenity access is strongest in dining and groceries, which helps sustain everyday livability for residents.
Within a 3-mile radius, population and household counts have been increasing and are projected to continue rising, enlarging the renter pool and supporting occupancy stability. At the same time, an accessible homeownership landscape and higher local rent-to-income ratios suggest the importance of positioning on value and resident experience to support retention.
- 1975 vintage offers relative competitiveness vs. older neighborhood stock, with room for targeted upgrades.
- Majority renter-occupied housing base supports depth of demand and leasing durability.
- Expanding 3-mile population and households point to a larger tenant pool and occupancy support.
- Amenity access strongest in dining and groceries, reinforcing day-to-day resident convenience.
- Risks: accessible ownership alternatives and elevated rent-to-income ratios require disciplined pricing and retention strategy.