| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 30th | Good |
| Demographics | 36th | Fair |
| Amenities | 6th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 480 Maple City Dr, Hornell, NY, 14843, US |
| Region / Metro | Hornell |
| Year of Construction | 1975 |
| Units | 81 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
480 Maple City Dr Hornell Multifamily Value-Add
Stable neighborhood occupancy and an expanding household base point to durable renter demand, according to WDSuite’s CRE market data. Older vintage allows for targeted upgrades to enhance yield while maintaining a cost-advantaged position in the Corning, NY region.
Located in a rural pocket of the Corning, NY metro, the area around 480 Maple City Dr shows occupancy that is competitive among local neighborhoods, with rates near 90% and trending upward over the past five years based on WDSuite’s CRE market data. Relative to metro peers (71 neighborhoods), this positions the subarea as steady rather than high-growth, with investors typically prioritizing cash flow resilience over rapid rent appreciation.
Livability is serviceable but limited in density: grocery access is present at a moderate level, while cafes, parks, and childcare options are sparse. Compared with national patterns, amenity availability trails larger markets, which can keep lifestyle expectations modest but also align with workforce housing dynamics. Median home values are on the lower side for the region, which can introduce some competition from homeownership; however, rents in the neighborhood benchmark as relatively low versus incomes, supporting retention and occupancy management.
Renter concentration within a 3-mile radius sits at about half of occupied housing units, indicating a sufficiently deep tenant base for an 81-unit property. Demographic statistics are aggregated within a 3-mile radius and show households increasing even as average household size declines, which can expand the pool of renters. Forward-looking projections point to population growth and a sizable increase in households by 2028, reinforcing demand for rental units and supporting occupancy stability.
Against metro and national comparables, neighborhood ratings land in the mid-range, with housing metrics above the metro median in occupancy but below national norms for amenities. For investors, the practical takeaway is a market that supports day-one leasing stability and value-add execution focused on operational efficiency and measured interior upgrades rather than amenity arms races.
Neighborhood-level crime metrics are not available in the provided WDSuite dataset for this location. Investors typically contextualize safety by comparing local law enforcement reports and regional trend data, and by assessing property-level measures (lighting, access control, and visibility) that support resident comfort and retention.
Given the rural setting, safety perceptions can vary block to block and over time. A practical approach is to pair regional data with on-the-ground diligence at different times of day and to benchmark any operating policies against comparable assets in the Corning metro.
Regional employment relevant to this submarket is anchored by advanced materials manufacturing, which can support a commuter tenant base and underpin leasing stability. The list below highlights a key employer within reasonable driving distance.
- Corning — advanced materials & technology (32.8 miles) — HQ
Built in 1975, the property offers classic value-add potential: systems and interiors may warrant targeted capital to improve durability and rent positioning while keeping costs below new-build competition. Neighborhood occupancy trends are competitive within the Corning metro, and rents benchmark as relatively manageable versus local incomes, which can support retention even in slower growth periods.
Within a 3-mile radius, households are increasing and average household size is edging lower, expanding the renter pool over the medium term. According to commercial real estate analysis from WDSuite, the area’s amenity density is modest but consistent with workforce housing dynamics, suggesting that operational execution and practical upgrades can drive NOI more effectively than amenity-heavy strategies.
- Competitive neighborhood occupancy supports day-one leasing stability
- 1975 vintage enables targeted renovations and operational value-add
- Household growth within 3 miles points to a larger tenant base
- Rent levels relative to income favor retention and steady cash flow
- Risk: lower amenity density and accessible homeownership can temper pricing power