| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Good |
| Demographics | 46th | Good |
| Amenities | 19th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2 Fall St, Seneca Falls, NY, 13148, US |
| Region / Metro | Seneca Falls |
| Year of Construction | 1976 |
| Units | 32 |
| Transaction Date | 2015-03-30 |
| Transaction Price | $511,000 |
| Buyer | SKYLANDS OF VAN CLEEF LAKE LLC |
| Seller | SKYLANDS OF SENECA FALLS INC |
2 Fall St, Seneca Falls NY Multifamily Investment
Renter-occupied housing is meaningful at the neighborhood level and occupancy trends are competitive among Seneca Falls neighborhoods, according to WDSuite’s CRE market data. Affordability looks manageable relative to incomes, supporting demand durability.
The property sits in a Suburban neighborhood with a B rating that is competitive among Seneca Falls neighborhoods (rank 9 of 22). Neighborhood occupancy is 91.3% (rank 7 of 22), placing it above the metro median and suggesting a generally steady leasing backdrop for stabilized multifamily assets.
Renter-occupied housing accounts for a sizable share of units locally (38.3%, rank 1 of 22; top quartile nationally), indicating a defined tenant base that can support leasing velocity and renewal potential. Median contract rents in the neighborhood are moderate relative to the region (rank 11 of 22), and with a rent-to-income ratio near the upper half of peers (rank 7 of 22; stronger than most nationally), effective affordability provides room for disciplined revenue management rather than aggressive concessions.
Amenity access is mixed: restaurants are comparatively accessible within the metro (rank 2 of 22; about the national middle), while parks score above average (rank 2 of 22; top quartile nationally). By contrast, cafes, groceries, and pharmacies are sparse in the immediate neighborhood (each rank 22 of 22), so residents typically rely on broader trade-area retail. School ratings trend below the national middle (rank 1 of 22), which may influence unit mix positioning and marketing toward workforce and value-focused renters.
At the neighborhood level, median home values sit well below the national median (national percentile 17). In practice, this more accessible ownership landscape can introduce competition for some renter cohorts, but it also supports cost-conscious rental demand where quality, convenience, and professional management matter for retention and lease stability.
Demographics aggregated within a 3-mile radius show population growth over the past five years alongside a faster increase in households and smaller average household size. Looking ahead to 2028, forecasts indicate further population and household expansion, implying a larger tenant base and steady absorption potential even as the broader tenure mix leans owner-occupied.
Vintage context: the neighborhood’s average construction year skews older (1929 average), while the subject was built in 1976. Being newer than much of the local housing stock can help competitive positioning, though investors should plan for ongoing system updates and selective renovations typical for 1970s assets.
Neighborhood-level safety metrics are not available in WDSuite for this area. Investors typically compare recent municipal reports and trend data for Seneca County and adjacent neighborhoods to evaluate relative safety and any directional changes over time.
The employment base within commuting distance includes manufacturing, life sciences, business services, and consumer goods, supporting workforce renter demand and commute convenience for residents. The list below reflects notable nearby employers relevant to the property’s likely renter pool: WestRock, Thermo Fisher Scientific, ADP, Constellation Brands, and Xerox.
- WestRock — packaging & paper (31.6 miles)
- Thermo Fisher Scientific In Fairport Ny — life sciences (32.5 miles)
- ADP Syracuse — business services (33.4 miles)
- Constellation Brands — consumer goods (34.7 miles) — HQ
- Xerox Corporation — technology & document solutions (37.9 miles)
Built in 1976, this 32-unit asset offers a relative age advantage versus much of the local housing stock, with potential to enhance competitive positioning through targeted updates. The surrounding neighborhood is above the metro median for occupancy and shows a meaningful renter-occupied share, supporting a stable leasing environment and renewal potential. According to CRE market data from WDSuite, local rent levels sit in the mid-pack of the metro and rent-to-income ratios are favorable for disciplined pricing, while 3-mile demographics point to population and household growth that can expand the tenant base.
Key considerations include a more owner-leaning tenure landscape in forward projections and limited immediate neighborhood retail outside restaurants and parks; however, the combination of steady occupancy, manageable renter affordability, and workforce-oriented employment access creates a pragmatic case for long-term hold or value-add execution.
- Competitive neighborhood occupancy with defined renter base supports leasing stability
- 1976 vintage offers value-add potential to outperform older local stock
- Mid-pack rents and favorable rent-to-income ratios enable disciplined revenue management
- 3-mile population and household growth expand the tenant pool over time
- Risks: owner-leaning tenure and limited immediate retail may temper pricing power