| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Best |
| Demographics | 39th | Fair |
| Amenities | 8th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 19 May St, Bath, NY, 14810, US |
| Region / Metro | Bath |
| Year of Construction | 1989 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
19 May St Bath NY 36-Unit Multifamily
Positioned for steady workforce demand in Bath, this 36-unit asset benefits from a renter-occupied presence in the neighborhood and near-midpoint occupancy, according to WDSuite’s CRE market data. 1989 vintage and larger average unit sizes offer practical value-add and retention levers.
The property sits in an Inner Suburb of the Corning, NY metro with a neighborhood rating of B+ (ranked 23 of 71), which is competitive among Corning neighborhoods. Local occupancy for the neighborhood is reported at 90.0% (ranked 20 of 71), indicating leasing fundamentals that have held near the national midpoint over time, based on CRE market data from WDSuite.
Renter-occupied housing accounts for 39.2% of neighborhood units (ranked 7 of 71), signaling a meaningful tenant base for multifamily. Median contract rents in the neighborhood remain modest versus national levels, and the rent-to-income ratio of 0.16 suggests relatively low affordability pressure that can support retention and consistent collections.
Within a 3-mile radius, recent population counts contracted, but WDSuite’s data indicate a forecasted return to growth over the next five years alongside a decline in average household size. This combination typically broadens the renter pool and can support occupancy stability. However, ownership remains comparatively accessible in this market (low value-to-income ratio), which may create competitive pressure on pricing and lease-up in certain vintages and product types.
Amenity density in the immediate neighborhood is light (few cafes, groceries, parks, or childcare options by metro rank), while restaurants are closer to the metro median. For investors, this places more weight on on-site features, management quality, and connectivity to nearby employment nodes when underwriting rent premiums.
Comparable safety metrics for this neighborhood are not available in the current WDSuite dataset. Investors commonly benchmark neighborhood trends against metro and national baselines and incorporate property-level measures (lighting, access control, and tenant screening) into underwriting when public crime data are limited.
Regional employment is anchored by advanced materials and manufacturing, supporting commuter demand from nearby towns. The following employer concentration provides a relevant renter base within a reasonable drive.
- Corning — advanced materials & glass manufacturing (18.2 miles) — HQ
This 1989-vintage, 36-unit property with larger average floor plans (approximately 895 sq. ft.) aligns with workforce housing demand and offers practical value-add pathways through system upgrades and interior modernization. Neighborhood occupancy trends sit near the national midpoint and renter concentration is meaningful, while relatively low rent-to-income levels support tenant retention, according to CRE market data from WDSuite.
Forward-looking demographics within a 3-mile radius point to household growth and smaller household sizes, which typically expand the renter pool and support stable absorption. Counterbalancing factors include light nearby amenity density and comparatively accessible homeownership, which can temper pricing power—placing a premium on competitive finishes, management execution, and thoughtful capital planning.
- Renter base: neighborhood renter-occupied share supports depth of demand for multifamily.
- Occupancy stability: neighborhood occupancy near the national midpoint with steady leasing fundamentals.
- Value-add potential: 1989 vintage and larger unit layouts enable targeted renovations and operational upside.
- Demand outlook: 3-mile forecasts show household growth and smaller household sizes, expanding the renter pool.
- Risks: sparse amenity density and relatively accessible ownership may constrain premiums without strong execution.