| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 40th | Best |
| Demographics | 52nd | Good |
| Amenities | 7th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 318 Tower St, Waterville, NY, 13480, US |
| Region / Metro | Waterville |
| Year of Construction | 1989 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
318 Tower St Waterville Multifamily Investment
Neighborhood occupancy is exceptionally stable, and a modest renter base supports steady leasing for a 20‑unit asset, according to WDSuite’s CRE market data.
This rural Waterville location emphasizes quiet living over density. Amenities are limited in the immediate area (few cafes, parks, and pharmacies), while basic needs are reachable via regional corridors. Average school ratings in the neighborhood sit above the national median (3.0 out of five; national percentile in the low 60s), which can aid family retention relative to similar rural submarkets.
Occupancy in the neighborhood is reported at the high end of the metro distribution, signaling stable housing utilization. The share of renter-occupied units is roughly three in ten at the neighborhood level, indicating a defined—though not dominant—tenant base that supports multifamily demand and helps underpin leasing consistency.
For investors assessing affordability and pricing power, neighborhood rents trend low relative to household incomes, and the rent-to-income ratio sits in a high national percentile for favorability. In contrast, ownership costs are relatively accessible (low value-to-income ratio), which can create some competition with entry-level homebuying; effective leasing and resident experience become important to sustain retention.
Demographic statistics aggregated within a 3‑mile radius show recent population and household contraction in prior years, but WDSuite’s outlook indicates potential recovery through 2028, with population and household counts projected to rise and average household size increasing. That forward trend would expand the local renter pool and support occupancy stability over the medium term. The local housing stock skews older, and this 1989 vintage is newer than the neighborhood average (1938), offering relative competitive positioning versus aging properties while still warranting planning for system updates typical of late‑1980s construction.
Neighborhood-level crime metrics are not available in WDSuite for this location. Investors typically contextualize safety by comparing county and state trends and by evaluating property-specific measures (lighting, access control) during due diligence. Without a metro rank or national percentile, it is prudent to benchmark against regional averages rather than infer block-level conditions.
Regional employers within commuting range help anchor demand for workforce housing; nearby roles include telecommunications, payroll services, and paper & packaging operations.
- Frontier Communications — telecommunications (18.1 miles)
- ADP Syracuse — payroll & HR services (42.4 miles)
- WestRock — paper & packaging (42.5 miles)
318 Tower St offers a 1989-vintage, 20‑unit footprint positioned in a rural neighborhood where housing utilization is strong and renter demand is steady. Affordability dynamics are favorable for landlords—rents consume a relatively small share of income—while the property’s newer-than-local-stock vintage provides a competitive edge versus pre‑war buildings, though investors should still plan for modernization and system updates typical of late‑1980s assets, based on CRE market data from WDSuite.
Forward-looking 3‑mile demographics indicate potential growth in population and households by 2028, which would broaden the tenant base and support occupancy stability. Counterbalancing factors include sparse nearby amenities and relatively accessible homeownership, which can pressure leasing in weaker cycles. Execution around renewals, service quality, and targeted upgrades should help sustain retention and pricing.
- Occupancy stability in the neighborhood supports consistent leasing
- Favorable rent-to-income profile provides room for disciplined rent growth
- 1989 vintage is newer than much of the local stock, offering value-add positioning
- 3‑mile forecasts point to a larger tenant base by 2028
- Risks: sparse amenities and accessible ownership can increase competition in softer periods