| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 31st | Fair |
| Demographics | 35th | Poor |
| Amenities | 8th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1400 State Route 96, Waterloo, NY, 13165, US |
| Region / Metro | Waterloo |
| Year of Construction | 1972 |
| Units | 48 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1400 State Route 96 Waterloo Multifamily Investment
Neighborhood renter-occupied share is elevated for the metro, supporting a stable tenant base even as amenities are limited; according to WDSuite’s CRE market data, occupancy trends sit near broader regional norms and rent levels remain moderate for the area.
This rural Waterloo location offers workforce housing fundamentals with moderate neighborhood occupancy and a renter-occupied share that is above the metro median. Based on CRE market data from WDSuite, the neighborhood’s occupancy rank is competitive among Seneca Falls neighborhoods (8 out of 22), indicating generally steady leasing conditions without signaling overheated demand.
Livability is shaped by low amenity density and limited retail/services in the immediate area, consistent with a rural profile. Amenity access ranks in the lower tier nationally (amenities at the 8th percentile), and average school ratings track in a lower national bracket as well (approximately 15th percentile). For investors, this underscores the importance of maintaining on-site conveniences and reliable property operations to support retention.
Tenure patterns are favorable for multifamily demand: renter-occupied housing is comparatively concentrated in this neighborhood (ranked 2 of 22 in the metro), which points to a deeper local tenant pool relative to many nearby areas. Median contract rents benchmark in the lower national tiers (around the 39th percentile), aligning with value-oriented positioning and potentially steadier occupancy during softer cycles.
Within a 3-mile radius, demographic statistics indicate population has trended lower in recent years while households are projected to edge higher, implying smaller household sizes and a shifting mix of renters. This combination can sustain baseline demand for well-managed, modestly priced units, though it places a premium on asset differentiation and cost control. Ownership costs in the area are comparatively accessible, which can compete with renting; however, a lower rent-to-income ratio suggests headroom to calibrate rents while managing affordability pressure and lease retention.
The property’s 1972 vintage is newer than much of the surrounding housing stock and can be positioned competitively versus older neighborhood assets, while still warranting targeted capital planning for building systems and selective renovations to drive rent and retention outcomes.
Comparable neighborhood safety metrics were not available in WDSuite for this location. Investors commonly benchmark against county and metro trends, and pair that with on-the-ground diligence such as management interviews and local agency data to understand directional changes over time.
Regional employment anchors within commuting distance include life sciences manufacturing, beverage corporate operations, document technology, packaging, and payroll/HR services. These employers support renter demand through steady workforce inflows and reasonable commute times.
- Thermo Fisher Scientific — life sciences manufacturing (28.7 miles)
- Constellation Brands — beverage & corporate operations (30.8 miles) — HQ
- Xerox Corporation — document technology (34.4 miles)
- WestRock — packaging (35.3 miles)
- ADP Syracuse — payroll & HR services (36.9 miles)
This 48-unit, 1972-vintage property in Waterloo positions as a value-oriented multifamily asset in a rural submarket where renter concentration is comparatively high and neighborhood occupancy is competitive within the metro. According to CRE market data from WDSuite, rents benchmark below national midpoints, aligning with workforce housing demand and supporting occupancy stability when paired with disciplined operations.
Demographic statistics aggregated within a 3-mile radius show population easing while households are projected to rise, suggesting smaller household sizes and a gradual rebalancing of the renter pool. The ownership market remains more accessible than in high-cost metros, which can create competition with homeownership; however, a lower rent-to-income profile indicates room to manage rents prudently while prioritizing retention. Targeted capital plans and light value-add—focused on systems, interior finishes, and on-site convenience—can help the asset outperform older neighborhood stock.
- Competitive neighborhood occupancy and elevated renter concentration support a stable tenant base
- Value-oriented rent positioning aligns with workforce demand and leasing resilience
- 1972 vintage allows targeted upgrades to outcompete older local stock
- Nearby regional employers provide diverse workforce drivers within commuting range
- Risks: limited local amenities and accessible ownership options require strong operations and retention strategy