| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 40th | Best |
| Demographics | 62nd | Best |
| Amenities | 14th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15 Farone Dr, Oneonta, NY, 13820, US |
| Region / Metro | Oneonta |
| Year of Construction | 1985 |
| Units | 55 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
15 Farone Dr, Oneonta NY Multifamily Investment
1985-vintage, 55-unit asset positioned in an A- rated inner-suburban neighborhood with solid renter demand indicators; according to WDSuite’s CRE market data, neighborhood metrics point to a deep renter base even as overall occupancy trends vary locally.
The neighborhood around 15 Farone Dr is rated A- and ranks 8th among 47 Oneonta metro neighborhoods, indicating competitive positioning within the metro. Amenity density scores competitively (ranked 13 of 47), though retail and food options are limited in the immediate area. Park access is a standout, ranking 1st of 47 and in the top quartile nationally, which supports quality-of-life appeal for residents.
Neighborhood occupancy is lower than national norms (measured for the neighborhood, not the property), and has softened in recent years. However, renter-occupied housing has a high neighborhood share (top quartile among 47 metro neighborhoods and strong nationally), which typically supports a deeper tenant base and steadier leasing velocity for multifamily assets.
Local schools average about mid-pack nationally while ranking in the top cohort within the Oneonta metro, suggesting families may balance average school performance with the area’s outdoor access. Home values in the neighborhood remain moderate for New York State, and rent-to-income indicators are manageable, which can support lease retention but may limit outsized pricing power compared with high-cost metros.
Construction in the broader neighborhood skews older (average circa 1925), and this asset’s 1985 vintage is newer than much of the local stock. That positioning can enhance competitiveness versus pre-war product, while investors should still plan for aging-systems upgrades or targeted renovations to drive rent premiums.
Within a 3-mile radius, recent trends show relatively flat population levels with an increase in households and a sizable 18–34 cohort, pointing to a stable renter pool. Forward-looking projections indicate household growth and smaller average household sizes by 2028, which would expand the tenant base and support occupancy stability for well-operated multifamily properties, based on CRE market data from WDSuite.
Comparable crime benchmarks for this neighborhood are not available in the current metro dataset from WDSuite, so direct rank and percentile comparisons cannot be shown. Investors should interpret safety through multiple sources, including local law enforcement updates and municipal reports, and focus on property-level measures (lighting, access control, and management practices) to support resident retention.
The local employment base is diversified at the regional level, with commuting patterns that can support renter demand. Nearby, the following employer contributes to area jobs and leasing stability.
- Frontier Communications — telecom services (26.5 miles)
This 1985-built, 55-unit property is newer than much of the surrounding housing stock, offering a competitive position versus older assets and a clear path for value-add through system modernization and interior updates. The neighborhood shows a high share of renter-occupied housing and moderate rent-to-income levels, supporting demand depth and lease retention even as neighborhood-level occupancy trends run below national norms.
Within a 3-mile radius, households are increasing and forecasts point to meaningful growth and smaller household sizes by 2028, reinforcing a larger tenant base over time. According to CRE market data from WDSuite, park access ranks at the top of the metro, amenities are limited but improving this livability angle, and ownership costs are moderate for New York, which can sustain steady multifamily demand while tempering extreme pricing power.
- Newer-than-area 1985 vintage with value-add potential via targeted renovations
- High neighborhood renter-occupied share supports tenant base depth and leasing stability
- Strong park access and livability drivers aid retention despite limited retail nearby
- 3-mile household growth and smaller household sizes point to a larger future renter pool
- Risk: neighborhood occupancy trends lag national norms; prudent underwriting and active management are important