| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 34th | Good |
| Demographics | 70th | Best |
| Amenities | 12th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2420 Oneida St, Utica, NY, 13501, US |
| Region / Metro | Utica |
| Year of Construction | 1985 |
| Units | 106 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2420 Oneida St, Utica NY Multifamily Investment
1985-vintage, 106-unit asset positioned to draw renter demand from a growing 3-mile radius and maintain stable leasing against older local stock, according to WDSuite’s CRE market data.
The property sits in an Inner Suburb location of the Utica-Rome metro with a B+ neighborhood rating. At rank 40 of 137 metro neighborhoods, performance is competitive among Utica-Rome neighborhoods. Grocery access is a relative strength, with the neighborhood in the top quartile locally and above national norms for grocery stores per square mile, supporting daily convenience for residents.
Retail, cafes, restaurants, parks, and pharmacies are limited within the immediate neighborhood footprint, so residents are likely to rely on nearby corridors for lifestyle needs. That dynamic can favor properties with on-site amenities and functional unit finishes to support retention.
Neighborhood renter-occupied share appears lower than the broader area, while the 3-mile radius shows a deeper renter base (about half of housing units are renter-occupied), which broadens the tenant pool beyond the immediate blocks. Population and household counts within 3 miles have grown in recent years, with projections indicating further gains over the next five years; this points to a larger tenant base and supports occupancy stability.
Median contract rents in the area remain manageable relative to incomes, with rent-to-income levels indicating moderate affordability pressure. That can aid lease retention while leaving room for disciplined rent growth. Educational attainment is also a positive indicator: bachelor’s degree share ranks among the stronger cohorts in the metro and sits in the top quartile nationally, which can correlate with steadier renter demand.
The neighborhood’s average construction year skews older than 1950, so a 1985 asset is newer than much of the surrounding stock—offering relative competitiveness versus legacy properties. Investors should still plan for systems modernization or targeted renovations to meet current renter expectations.
Neighborhood-level crime metrics were not available in WDSuite for this specific location. Investors typically compare city and county sources to metro benchmarks and observe multi-year trends around the property and adjacent corridors to gauge relative safety and its influence on leasing and retention.
- Frontier Communications — telecommunications (29.6 miles)
The broader employment base features regional office and telecom roles that support commute-oriented renter demand; the list below reflects nearby presence that can influence leasing stability.
This 106-unit, 1985-vintage property competes favorably against an older local stock profile while tapping into a larger 3-mile renter pool experiencing population and household growth. Area rents remain manageable relative to incomes, supporting retention, and grocery access is a local strength. According to CRE market data from WDSuite, neighborhood performance is competitive within the Utica-Rome metro, suggesting potential for steady occupancy with targeted asset improvements.
Key watch items include limited lifestyle amenities within the immediate blocks and neighborhood occupancy that has eased in recent years, which places a premium on effective leasing, on-site services, and selective renovations to protect pricing power.
- 1985 vintage is newer than much of the area’s stock, offering relative competitiveness with room for modernization.
- Growing 3-mile population and households indicate a larger tenant base that supports occupancy stability.
- Manageable rent-to-income dynamics aid retention and disciplined rent strategy.
- Grocery access is a local advantage, reinforcing day-to-day convenience for residents.
- Risks: limited immediate amenities and signs of softer neighborhood occupancy require focused leasing and asset management.