| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 39th | Best |
| Demographics | 55th | Good |
| Amenities | 45th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1 Fairview Ave, Yorkville, NY, 13495, US |
| Region / Metro | Yorkville |
| Year of Construction | 1980 |
| Units | 32 |
| Transaction Date | 2015-12-22 |
| Transaction Price | $1,300,000 |
| Buyer | MCGR PROPERTIES LLC |
| Seller | BBT FATTORIA LLC |
1 Fairview Ave, Yorkville NY Multifamily Investment
Neighborhood occupancy is strong and has trended higher in recent years, supporting stable renter demand according to WDSuite’s CRE market data. This location offers steady, workforce-oriented housing dynamics within the Utica–Rome metro.
Yorkville’s inner-suburb setting delivers everyday convenience that underpins renter retention. Cafes and grocery options are competitive among Utica–Rome neighborhoods (both rank inside the top 10 of 137 metro neighborhoods) and test in the top decile nationally, while restaurants also score well. These access advantages help reduce transportation frictions for residents and support day-to-day livability.
The neighborhood’s housing stock skews older on average (1930s-era), but the subject property’s 1980 vintage is comparatively newer, which can be a leasing advantage versus prewar product. Investors should still plan for ongoing system updates typical of 1980s buildings, but the relative vintage supports competitiveness without the full scope of prewar capital needs.
Renter-occupied housing accounts for a meaningful share of local units at both the neighborhood level and within the 3-mile radius, indicating depth in the tenant base and a broad pool of prospects for a 32-unit asset. Neighborhood occupancy is elevated versus many U.S. areas, which can support lease-up and renewal stability; however, it also suggests the need for disciplined unit turns to maintain positioning.
Home values in this area are lower than national norms, making ownership relatively accessible compared with high-cost markets. For investors, that can temper near-term pricing power but often supports steady demand for well-run, appropriately priced apartments. Rent-to-income levels track in a manageable range locally, which helps mitigate affordability pressure and supports collections and retention.
Within a 3-mile radius, recent population and household growth has been modest with projections calling for incremental gains and smaller average household sizes over the next five years. That dynamic typically expands the renter pool and can support occupancy stability, based on commercial real estate analysis from WDSuite.
Comparable crime metrics for this neighborhood are not available in WDSuite’s dataset. Investors commonly benchmark conditions using city and county reporting and focus on multi‑year trends and adjacent submarkets to understand relative safety and its potential influence on leasing and retention.
Built in 1980, this 32‑unit property offers a relative vintage advantage in a primarily older housing context, reducing the scope of heavy prewar rehabilitation while still warranting targeted system and common-area updates to drive value-add returns. The neighborhood carries a strong rating within the Utica–Rome metro and posts high occupancy, pointing to consistent renter demand and potential renewal stability.
Amenity access is a clear positive, with food and daily-needs retail scoring among the metro’s best and top-tier nationally. Ownership costs are comparatively accessible, which may cap aggressive rent outperformance, but manageable rent-to-income levels and a broad renter-occupied base indicate a durable tenant pool. According to CRE market data from WDSuite, these fundamentals align with steady, cash‑flow oriented operations rather than speculative growth.
- 1980 vintage is newer than much of the local stock, supporting competitiveness with measured capital planning
- Strong neighborhood occupancy and stable renter pool support leasing continuity and renewals
- Convenient access to cafes, groceries, and restaurants enhances day‑to‑day livability and retention
- Manageable rent-to-income levels favor collections and steady cash flow
- Risk: relatively accessible homeownership and limited nearby park/childcare amenities can constrain premium rent growth