| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 40th | Best |
| Demographics | 62nd | Best |
| Amenities | 14th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5 Myrtle Ave, Oneonta, NY, 13820, US |
| Region / Metro | Oneonta |
| Year of Construction | 1983 |
| Units | 32 |
| Transaction Date | 2007-04-04 |
| Transaction Price | $130,500 |
| Buyer | WILBER & CLARK ENT INC |
| Seller | CLARK SETH P |
5 Myrtle Ave Oneonta NY Multifamily Investment Opportunity
Neighborhood data point to a sizable renter-occupied base, supporting depth of tenant demand and ongoing leasing potential, according to WDSuite’s CRE market data. One clear takeaway for investors: the area’s renter concentration can help stabilize occupancy through cycles.
The property sits in an Inner Suburb of Oneonta with an overall neighborhood rating of A- (ranked 8 out of 47 metro neighborhoods), indicating performance that is competitive among Oneonta neighborhoods while landing near the national middle across several categories. Amenity density is thin for daily retail and services, yet park access is a relative strength, with the neighborhood ranking first out of 47 locally and in a high national percentile for parks per square mile. School quality trends around the national midpoint, with a better-than-metro-median standing, which can support family-oriented renter retention.
From a rental demand standpoint, the share of housing units that are renter-occupied is elevated for the metro (ranked 2 of 47 and in a high national percentile). For multifamily owners, this renter concentration signals a deeper tenant base and helps underpin leasing velocity. Median rents at the neighborhood level track near national mid-range, and the rent-to-income profile suggests manageable affordability pressure for residents—factors that can support lease retention and measured pricing power for operators.
Occupancy at the neighborhood level sits below the national average but remains competitive within Oneonta (ranked 17 of 47). For investors, that mix points to both leasing opportunity and the need for active management to maintain stabilization. Relative to the metro’s older housing stock (average vintage 1925), a 1983-built asset positions ahead of much of the surrounding rental inventory; this typically improves competitive footing while still warranting targeted capital plans for aging systems or interior modernization to enhance rentability.
Demographic statistics aggregated within a 3-mile radius show households have grown recently even as population was roughly flat, expanding the pool of potential renters through more, smaller households. Forward-looking projections indicate population growth and an increase in households over the next five years, supporting a larger tenant base and reinforcing occupancy stability for well-operated assets. In ownership terms, home values are moderate for the region; this more accessible ownership landscape can introduce some competition with for-sale options, but it also broadens the addressable renter pool for value-oriented units and can support steady renewal behavior.
Neighborhood-level crime metrics are not available for this location in WDSuite’s dataset. Investors typically benchmark safety by comparing neighborhood trends to county and metro baselines and by monitoring multi-year movement rather than single-year snapshots. Incorporating on-the-ground diligence and recent local reporting can help contextualize safety alongside leasing and retention performance.
Regional employers contribute to the renter base by providing stable jobs within commuting reach. The following nearby corporate presence may support workforce housing demand and lease retention for residents who value commute convenience.
- Frontier Communications — telecommunications offices (26.9 miles)
This 32-unit, 1983-vintage multifamily asset competes against an older local stock base, providing a relative advantage on building systems and marketability while still offering potential value-add through targeted renovations. The neighborhood shows a high renter concentration and mid-range rent levels, supporting depth of tenant demand and measured pricing power. According to CRE market data from WDSuite, neighborhood occupancy trends are competitive within the metro even if below national averages, suggesting scope for stabilization with focused leasing and operations.
Demographic data aggregated within a 3-mile radius indicate recent growth in households and projections for population growth ahead, which point to a larger tenant base and support for ongoing demand. Moderate home values suggest a more accessible ownership market than in high-cost metros, which can introduce some competitive tension but generally supports steady renter reliance on well-located, value-oriented units.
- 1983 vintage vs. older neighborhood stock supports competitive positioning, with targeted capex/modernization potential
- Elevated renter-occupied share signals depth of tenant base and supports leasing stability
- Household growth within 3 miles and projected population gains expand the prospective renter pool
- Mid-range rents and balanced rent-to-income dynamics can aid retention and measured rent growth
- Risks: below-national occupancy, lean amenity density, and potential competition from for-sale options require active management