| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 31st | Fair |
| Demographics | 41st | Fair |
| Amenities | 53rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 161 W Bayard St, Seneca Falls, NY, 13148, US |
| Region / Metro | Seneca Falls |
| Year of Construction | 1992 |
| Units | 107 |
| Transaction Date | 2025-05-09 |
| Transaction Price | $131,000 |
| Buyer | POLLOTTA BRETT |
| Seller | LANGSTAFF STUART |
161 W Bayard St Seneca Falls Multifamily Investment
Neighborhood occupancy trends in the low-90s and a moderate renter base point to steady leasing conditions, based on CRE market data from WDSuite. The 1992 vintage offers a competitive edge versus older area stock while leaving room for targeted upgrades.
This A-rated neighborhood ranks among the top quartile in the Seneca Falls metro (2 of 22), indicating relative strength versus nearby areas. Amenity access is balanced for a rural setting, with cafes, groceries, parks, and restaurants scoring around the middle of national distributions. School quality trends below national averages, and pharmacy access is limited, which investors should weigh for family-oriented demand.
According to WDSuite’s CRE market data, neighborhood occupancy sits in the low-90s and has trended upward over the past five years, supporting income stability. About one-third of local housing units are renter-occupied, indicating a moderate renter concentration and a sufficient tenant base for conventional multifamily. Median contract rents in the area are lower than national norms, which can aid retention and reduce turnover sensitivity.
Demographic statistics are aggregated within a 3-mile radius. Over the past five years, population and households increased, and WDSuite’s forward view points to continued population growth and a notable increase in households, implying a larger tenant base and support for occupancy. Average household size is gradually declining, which can sustain demand for smaller units and efficient layouts.
Home values remain on the lower side relative to national benchmarks, suggesting a more accessible ownership market. For multifamily investors, this means pricing needs to remain competitive, as ownership alternatives can weigh on rent growth; however, lower rent-to-income levels in the neighborhood also indicate manageable affordability pressure, aiding lease retention.
Safety indicators compare favorably at the national level. Overall crime conditions are around the 74th percentile nationally, placing the neighborhood above many peer areas for safety. Violent offense metrics are especially strong, trending near the top percentile nationwide with year-over-year improvement, which supports renter confidence and leasing stability.
Property offense measures are comparatively favorable overall but showed an uptick over the past year. Investors should monitor this trend while noting that, in aggregate, the neighborhood’s safety profile remains competitive among communities nationwide.
Regional employers within commuting distance support steady renter demand, drawing from life sciences, packaging, beverage, payroll services, and technology. These job centers can underpin workforce housing dynamics and leasing stability.
- Thermo Fisher Scientific — life sciences manufacturing (31.8 miles)
- WestRock — packaging (32.7 miles)
- Constellation Brands — beverage alcohol (33.9 miles) — HQ
- ADP Syracuse — payroll services (34.5 miles)
- Xerox Corporation — document technology (37.4 miles)
The 107-unit property at 161 W Bayard St was built in 1992, making it newer than much of the surrounding housing stock. That relative vintage supports competitive positioning against older inventory, while the building’s age still warrants focused capital planning for systems and interiors to capture value-add upside. Neighborhood occupancy is in the low-90s and has improved over five years, and the renter-occupied share sits around one-third—both signals of a tenant base that can support stable operations, according to CRE market data from WDSuite.
Within a 3-mile radius, population and households have grown and are projected to continue rising, expanding the renter pool. Rents remain below national levels and rent-to-income metrics point to manageable affordability pressure, which can aid retention. At the same time, relatively accessible home values introduce competition from ownership, and local schools trend below national averages—factors to underwrite in leasing and renewal assumptions.
- 1992 vintage is competitive versus older neighborhood stock, with clear value-add pathways via modernization.
- Low-90s neighborhood occupancy and a moderate renter concentration support income stability.
- 3-mile population and household growth, with further gains projected, expand the tenant base and support leasing.
- Below-national rent levels and moderate rent-to-income reduce retention risk and pricing sensitivity.
- Risks: competition from ownership given accessible home values, lower local school ratings, and aging systems requiring targeted capex.