| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 40th | Best |
| Demographics | 46th | Good |
| Amenities | 53rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 70 Market St, Oneonta, NY, 13820, US |
| Region / Metro | Oneonta |
| Year of Construction | 1988 |
| Units | 24 |
| Transaction Date | 2008-01-29 |
| Transaction Price | $1,150,000 |
| Buyer | APOSTOLAKIS JOHN |
| Seller | 218 WATER STREET LLC |
70 Market St, Oneonta NY Multifamily Opportunity
Positioned in an A-rated neighborhood within the Oneonta metro, the asset benefits from steady renter demand and everyday conveniences, according to WDSuite s CRE market data.
Located in Oneonta s Inner Suburb, the neighborhood ranks 3rd of 47 metro neighborhoods (A rating), indicating competitive fundamentals versus local peers. Everyday needs are close by: grocery access ranks 3rd of 47 and pharmacies 1st of 47, while park access also ranks 3rd of 47. Dining density is strong (2nd of 47), though cafes and childcare options are limited within the immediate area. These dynamics support daily convenience for residents and can aid retention even as preferences evolve.
Renter demand appears supported by a meaningful renter-occupied presence at the neighborhood level and a younger-skewing 3-mile population, creating a deeper tenant base for smaller multifamily assets. Neighborhood occupancy is below national norms and has eased modestly over five years, so operators should plan for active leasing and renewal strategies to sustain performance. Median contract rents and rent-to-income indicators point to manageable affordability pressure, which can help pricing discipline without overextending renters.
Within a 3-mile radius, demographics show a large share of 18 34 residents and projections through 2028 indicate population growth alongside a substantial increase in households and smaller average household sizes. This combination typically expands the renter pool and supports occupancy stability for well-managed properties. Household income levels are rising on a forward basis, reinforcing potential for measured rent growth where value is demonstrated.
Home values in the neighborhood are moderate for New York and below many coastal benchmarks, which can temper ownership pull and sustain reliance on multifamily housing. For investors, this balance supports lease retention and reduces competitive pressure from for-sale alternatives, particularly for well-located workforce units. These takeaways are grounded in commercial real estate analysis from WDSuite for the Oneonta metro.
Comparable crime statistics for this neighborhood were not available in the current WDSuite feed. Investors should benchmark conditions against the broader Oneonta region and evaluate recent trend data from local law enforcement and insurance providers as part of standard due diligence.
- Frontier Communications corporate offices (27.4 miles)
Regional employment is anchored by a mix of office and services within the broader commute shed, which can broaden the renter pool for workforce housing. The list below highlights a nearby corporate office relevant to commuting residents.
Built in 1988, the 24-unit property offers relatively newer vintage versus much of the Oneonta neighborhood s older housing stock, enhancing competitive positioning while leaving room for selective system updates or cosmetic upgrades to drive rent lift. Neighborhood-level occupancy trails national averages, but renter demand is supported by daily conveniences (top ranks for groceries, pharmacies, and parks) and a sizable 18 34 cohort within a 3-mile radius. According to CRE market data from WDSuite, neighborhood rents and rent-to-income dynamics suggest balanced affordability, which can underpin retention if operators focus on service and unit quality.
Forward-looking 3-mile projections indicate population growth, a pronounced increase in households, and smaller average household sizes by 2028, all of which tend to expand the tenant base for well-managed multifamily. Moderate home values in context with local incomes can reinforce reliance on rentals, supporting steady leasing for practical, well-located units near everyday amenities.
- 1988 vintage offers competitive positioning versus older local stock with value-add potential through targeted updates
- Strong neighborhood convenience (top-tier grocery, pharmacy, park access; robust dining) supports retention
- 3-mile projections show rising households and smaller household sizes, expanding the renter pool
- Balanced rent-to-income dynamics support pricing discipline and lease management
- Risk: neighborhood occupancy trends below national norms require proactive leasing and renewal execution