| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Good |
| Demographics | 46th | Good |
| Amenities | 19th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 24 Johnston St, Seneca Falls, NY, 13148, US |
| Region / Metro | Seneca Falls |
| Year of Construction | 2000 |
| Units | 33 |
| Transaction Date | 1999-12-23 |
| Transaction Price | $65,000 |
| Buyer | VAN CLEEF APT CO I LP |
| Seller | SENECA FALLS SPECIALTIES CO INC |
24 Johnston St, Seneca Falls Multifamily Investment
2000-vintage, 33-unit asset positioned for steady renter demand in a suburban pocket where neighborhood occupancy has held near the metro middle, according to WDSuite’s CRE market data. The location offers pragmatic affordability that can support retention while leaving room for operational upside.
Seneca Falls is a suburban neighborhood with a B rating that is competitive among Seneca Falls, NY neighborhoods (rank 9 of 22), per WDSuite’s CRE market data. Restaurant density sits around the metro middle, while cafes, groceries, and pharmacies are sparse locally—conditions that tend to favor car-dependent renters and practical conveniences over walkable retail clusters.
Neighborhood occupancy is competitive among the metro’s 22 neighborhoods, supporting stable leasing conditions rather than peak-cycle pressure. The renter-occupied share sits in the higher range for the area, indicating a meaningful tenant base for small to mid-size multifamily properties.
Within a 3-mile radius, population and household counts have increased over the past five years, and forecasts point to further household growth alongside slightly smaller average household sizes. For investors, that suggests a gradually expanding renter pool and ongoing demand for one- and two-bedroom formats.
Home values in the area are lower than national norms, and rent-to-income levels are comparatively manageable. For multifamily owners, this mix supports lease retention and reduces volatility, though more accessible ownership options can create competition at certain price points—making product quality and operations key to maintaining pricing power.
Local schools trend below the national average based on neighborhood-level ratings. While this can temper appeal for some family renters, it also keeps overall housing costs in check, which can sustain demand from workforce households.
Neighborhood-level crime metrics are not available in this dataset for this location. Investors should benchmark the property’s security posture and operating practices against broader Seneca Falls and county trends, and align capital plans (lighting, access control, and common-area visibility) with tenant expectations.
The broader Finger Lakes–Rochester–Syracuse corridor supports a diversified employment base. Proximity to regional corporate offices like WestRock, Thermo Fisher Scientific, ADP, Constellation Brands, and Xerox can underpin renter demand from commuters seeking value-oriented housing.
- WestRock — packaging & paper (31.3 miles)
- Thermo Fisher Scientific In Fairport Ny — life sciences (32.6 miles)
- ADP Syracuse — payroll & HR services (33.1 miles)
- Constellation Brands — beverages (34.8 miles) — HQ
- Xerox Corporation — technology & services (37.9 miles)
Built in 2000, the property is newer than much of the surrounding housing stock, offering a competitive position versus older vintage assets while still benefiting from selective modernization to enhance curb appeal and energy performance. According to CRE market data from WDSuite, the neighborhood’s occupancy sits around the metro middle and the renter-occupied share is relatively elevated, supporting demand depth for a 33-unit community.
Within a 3-mile radius, population and household growth trends—paired with slightly smaller household sizes—point to renter pool expansion that can support occupancy stability. Lower local home values and manageable rent-to-income levels reinforce lease retention, though accessible ownership options mean operators should emphasize quality, resident experience, and cost control to preserve pricing power. School ratings below national norms and limited nearby daily amenities are risk factors to underwrite, but they also align with a workforce value proposition.
- 2000 vintage offers relative competitive positioning versus older stock, with targeted upgrades for value-add upside
- Neighborhood occupancy around the metro middle supports steady leasing and reduced volatility
- 3-mile population and household growth suggest a gradually expanding renter base and demand for smaller formats
- Manageable rent-to-income dynamics support retention and stable cash flow
- Risks: accessible ownership alternatives, below-average school ratings, and limited nearby amenities require disciplined pricing and resident experience