| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 26th | Good |
| Demographics | 54th | Good |
| Amenities | 20th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7940 State Route 36, Arkport, NY, 14807, US |
| Region / Metro | Arkport |
| Year of Construction | 1988 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
7940 State Route 36, Arkport NY Multifamily Investment
Neighborhood occupancy trends are competitive among Corning metro peers, supporting steady leasing for a 24-unit asset, according to WDSuite s CRE market data.
The property is in a rural neighborhood within the Corning, NY metro that rates A- and ranks 17th out of 71 neighborhoods top quartile among 71 metro neighborhoods. Local occupancy is ranked 18th of 71, indicating competitive performance versus the broader metro rather than a soft outlier. Median asking rents in the neighborhood have trended upward over the past five years, and the rent-to-income relationship suggests manageable affordability pressure that can support lease retention and measured pricing power.
Amenities are limited at the block level caf and restaurant densities rank 71st of 71 but grocery access is comparatively stronger (10th of 71, above metro median) and park access ranks near the top of the metro (7th of 71), which helps day-to-day livability in a low-density setting. School quality is another relative strength, with the neighborhood s average rating ranking 7th of 71 and sitting in the top half nationally a useful consideration for family renters.
Within a 3-mile radius, demographics show population growth over the last five years alongside a modest decline in household count, pointing to larger household sizes and a renter base that is stable but not rapidly expanding. Looking ahead, forecasts indicate flat-to-slightly lower population but a small increase in household count by 2028, implying a steady tenant base even as composition shifts a scenario where asset quality and management drive outcomes.
Owner-occupied housing remains prevalent locally, and neighborhood home values are relatively accessible versus national norms. For investors, this means rental demand relies on convenience, product quality, and value relative to ownership. The renter-occupied share within a 3-mile radius is in the mid-teens, which supports ongoing multifamily demand while emphasizing the importance of asset positioning and operations in a smaller rural market.
Comparable, property-level safety metrics are not available in this dataset. Investors typically benchmark neighborhood safety against county and metro trends and emphasize on-site measures (lighting, access control, resident screening) alongside local partnership initiatives to support resident experience. Use local law enforcement and municipal reports to validate current conditions and trend direction.
Regional employment is anchored by established corporate offices within commuting reach, which supports renter demand through stable payrolls and predictable commute patterns. The list below highlights a key employer relevant to Arkport s workforce housing dynamic.
- Corning corporate offices (36.6 miles) HQ
Built in 1988, this 24-unit property offers a manageable scale with potential value-add through targeted interior updates and systems modernization typical for late-1980s construction. Neighborhood occupancy ranks competitively within the Corning metro, and rents have risen over the last five years, pointing to steady absorption and tenant retention potential. According to CRE market data from WDSuite, local livability is supported by parks and grocery access in a rural context, while a strong owner-occupied presence frames multifamily as a convenience- and value-driven choice.
Investor focus should be on durable operations in a smaller renter pool: leasing strategies that highlight quality, convenience, and pricing discipline can perform well, while acknowledging competition from homeownership and a modest long-range population headwind within a 3-mile radius. Underwriting should budget for selective capex and emphasize management efficiency to protect NOI.
- 1988 vintage allows targeted renovations and systems upgrades for value-add upside
- Competitive neighborhood occupancy trends support leasing stability versus the metro
- Rural location with park and grocery access underpins livability and retention
- Operational focus: smaller renter base and accessible ownership require disciplined pricing
- Risk: 3-mile forecasts show softer population growth; plan conservative lease-up and capex timing