| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Good |
| Demographics | 19th | Poor |
| Amenities | 29th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 417 Bleecker St, Utica, NY, 13501, US |
| Region / Metro | Utica |
| Year of Construction | 1981 |
| Units | 109 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
417 Bleecker St, Utica NY Multifamily Investment
Neighborhood renter demand is durable, supported by a majority of renter-occupied housing units in the area, according to WDSuite’s CRE market data. Occupancy has trended upward over the past five years, providing a foundation for stable income if operations are managed carefully.
This Inner Suburb location benefits from daily-needs access: neighborhood data indicate strong grocery and dining density, landing in the top quartile nationally, while parks, pharmacies, cafes, and childcare options are relatively limited. For investors, that mix supports day-to-day convenience but may temper lifestyle-driven premiums versus amenity-rich districts.
Renter-occupied housing is prevalent at the neighborhood level, signaling depth in the tenant base and supporting leasing continuity. Neighborhood occupancy has improved over the past five years, though levels track modestly below national averages. Median contract rents remain comparatively low for the metro, which can aid retention and reduce affordability pressure relative to incomes.
Within a 3-mile radius, population and households have expanded and are projected to continue growing through 2028, pointing to a larger tenant pool over time. This growth, combined with a roughly even renter/owner split in the 3-mile area, supports steady demand for multifamily units. Based on WDSuite’s multifamily property research, elevated homeownership accessibility in the immediate neighborhood may create some competition with rentals, but lower rent-to-income levels locally help sustain occupancy and renewal performance.
The property’s 1981 vintage is materially newer than much of the surrounding housing stock, which skews early-20th century. That positioning can be competitive versus older assets, while prudent capital planning for systems modernization can further differentiate the asset in leasing and retention.
Safety signals are mixed when viewed against broader benchmarks. Neighborhood data indicate property-related incidents compare favorably at a national level (strong relative standing), while recent trends show an uptick in violent incidents year over year. For investors, that suggests day-to-day risk should be monitored, emphasizing standard security practices and resident engagement while tracking whether recent changes persist or normalize.
Compared with neighborhoods nationwide, overall safety sits in a generally better-than-average range, but not uniformly across categories. A balanced read is prudent: lean on professional management protocols and consider lighting, access control, and partnerships with local resources to support leasing and retention.
Regional employment access is diversified at the metro level, with commuting reach to telecommunications offices that can contribute to steady renter demand and renewal stability.
- Frontier Communications — telecommunications (32.1 miles)
417 Bleecker St offers 109 units in an Inner Suburb setting where renter-occupied housing is prevalent and neighborhood occupancy has been improving. The 1981 vintage is newer than much of the area’s housing stock, providing a competitive baseline versus older properties; targeted modernization can enhance positioning and support rent attainment. According to commercial real estate analysis from WDSuite, local rents remain comparatively accessible, which can underpin retention even as ownership options are relatively attainable in the immediate area.
Within a 3-mile radius, recent and projected growth in population and households points to a larger renter pool over the next several years, supporting occupancy stability. Amenity access favors groceries and dining, while fewer parks, pharmacies, and cafes suggest a pragmatic rather than lifestyle-driven appeal. The resulting profile suits value-oriented, professionally managed multifamily operations with a focus on resident services and cost control.
- Renter depth: majority renter-occupied neighborhood supports leasing continuity and renewal potential.
- Competitive vintage: 1981 construction can out-compete older local stock with targeted modernization.
- Demand outlook: 3-mile population and household growth expand the tenant base through 2028.
- Operating resilience: comparatively accessible rents aid retention and support occupancy management.
- Risks: mixed safety trends, limited lifestyle amenities, and competition from homeownership warrant conservative underwriting.