| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 31st | Good |
| Demographics | 44th | Fair |
| Amenities | 28th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 115 Raymond St, Montour Falls, NY, 14865, US |
| Region / Metro | Montour Falls |
| Year of Construction | 2007 |
| Units | 24 |
| Transaction Date | 2007-07-02 |
| Transaction Price | $180,000 |
| Buyer | MONTOUR FALLS HOUSING |
| Seller | TWIN LAKES INC |
115 Raymond St, Montour Falls NY — 24-Unit Multifamily Opportunity
2007 vintage in a small Upstate New York market where neighborhood housing occupancy has held relatively steady, according to WDSuite s CRE market data, with renter demand supported by manageable rent-to-income levels.
Montour Falls neighborhood environment scores in the top quartile among 16 metro neighborhoods (A rating), indicating comparatively strong local fundamentals within the Schuyler County context, based on CRE market data from WDSuite. Restaurants and cafes are relatively competitive locally (both ranked near the top of 16), while daily conveniences like parks and pharmacies are thinner nearby. For investors, this mix supports day-to-day livability but suggests residents may travel a bit farther for certain services.
The average housing stock nearby skews older (early 20th-century average), while this property s 2007 construction positions it as newer than much of the area s inventory. That typically enhances leasing competitiveness versus older stock; however, investors should still plan for mid-cycle systems updates as the asset ages into its second decade.
Within a 3-mile radius, population has been relatively flat to slightly contracting, and household size has been stable. This points to a steady, modest tenant base rather than outsized growth, which can support occupancy stability but may temper outsized rent growth expectations. Renter-occupied housing accounts for roughly a third of units in the neighborhood, indicating a workable renter base for a 24-unit property without relying on deep in-migration.
Ownership costs locally are comparatively accessible by national standards, while rents benchmark against incomes at favorable levels. For multifamily, that combination can support resident retention and predictable leasing, though it also means some households may weigh ownership alternatives. School ratings track below national averages, a factor to monitor for family-oriented demand, but not typically a primary driver for smaller workforce-oriented assets.
WDSuite does not have comparable, neighborhood-level crime rankings available for this location. Investors typically contextualize safety by reviewing recent municipal reports and speaking with local stakeholders to understand trends at the neighborhood and town levels rather than drawing conclusions from isolated incidents.
Regional employment is anchored by advanced materials and manufacturing, which can bolster workforce housing demand and retention for renters commuting across the Southern Tier. Nearby, the following employer is within practical driving distance.
- Corning advanced materials & manufacturing (17.5 miles) HQ
This 24-unit asset s 2007 vintage is newer than much of the local housing stock, offering a competitive edge versus older properties while leaving room for targeted modernization to enhance rents over time. Neighborhood housing occupancy has been relatively stable, and renter households represent a meaningful share of units, supporting a consistent tenant base. According to CRE market data from WDSuite, local rents sit well against incomes, reinforcing lease retention and cash flow durability, though the accessible ownership landscape may moderate pricing power.
Demographic signals within 3 miles point to a steady, modest renter pool rather than outsized growth. Amenities are adequate for small-town living, with dining options comparatively strong locally but fewer parks and pharmacies nearby. The thesis centers on durable occupancy and operational consistency, with upside via selective value-add and efficient management rather than aggressive rent growth.
- 2007 construction provides a competitive edge versus older local stock, with manageable mid-cycle capex planning.
- Stable neighborhood housing occupancy and a workable renter base support leasing consistency.
- Rents benchmark well to incomes, aiding tenant retention and reducing affordability pressure.
- Local dining amenities are relatively competitive; other conveniences may require short drives.
- Risks: modest population growth and comparatively accessible ownership could temper rent growth and add competitive pressure.