| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Best |
| Demographics | 67th | Best |
| Amenities | 39th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 110 Creekside Dr, Painted Post, NY, 14870, US |
| Region / Metro | Painted Post |
| Year of Construction | 2012 |
| Units | 118 |
| Transaction Date | 2014-03-31 |
| Transaction Price | $11,191,218 |
| Buyer | RM14A HOLDINGS LLC |
| Seller | RM14 HOLDINGS LLC |
110 Creekside Dr Painted Post Multifamily Opportunity
Stabilized renter demand supported by strong neighborhood fundamentals and commuter access, according to WDSuite’s CRE market data. Expect durable occupancy with room for operational optimization in a high-performing Corning, NY submarket.
The property sits in a top-performing neighborhood for the Corning metro, ranked in the top quartile among 71 metro neighborhoods with an A+ neighborhood rating. Local occupancy trends are competitive among Corning neighborhoods, and rents track near the middle of national ranges, supporting steady absorption rather than volatility.
Livability drivers are balanced for a rural setting: restaurants are reasonably accessible for the area, while grocery, parks, and pharmacies are thinner. Average school ratings are strong for the metro (ranked near the top among 71 neighborhoods) and land in the top quartile nationally, which can aid family retention and minimize turnover for larger units.
Tenure patterns signal a meaningful renter base: within a 3-mile radius, the share of housing units that are renter-occupied sits around one-third, indicating depth for multifamily leasing without over-reliance on transient demand. Rent-to-income is around the national midpoint, suggesting manageable affordability pressure that supports renewals and modest rent steps under disciplined lease management.
Demographics within a 3-mile radius point to a stable-to-modestly expanding renter pool. Recent population growth is positive, and forecasts suggest additional households over the next five years, which can translate to a larger tenant base and support occupancy stability. Household incomes are above many U.S. neighborhoods, aligning with consistent payment performance and measured pricing power.
Home values in the neighborhood are moderate relative to incomes, indicating a more accessible ownership market than many coastal metros. For investors, that means some competition from entry-level ownership, but also a reliable cohort that continues to rely on quality rentals for flexibility—particularly near major employers—backed by multifamily property research from WDSuite.
Comparable crime metrics for this neighborhood are not available in WDSuite’s dataset for the current period. Investors typically benchmark safety by comparing neighborhood trends to the broader Corning region and tracking changes over time; where possible, pair these datapoints with on-the-ground observations and management feedback.
Given the rural context, it is prudent to assess property-level security measures and coordinate with local authorities for recent trend updates, rather than relying on block-by-block assumptions.
Nearby employment is anchored by advanced manufacturing and materials, which supports steady, commute-friendly renter demand for workforce and professional households. The following employer presence is most relevant to leasing and retention.
- Corning — materials & technology HQ (3.3 miles) — HQ
Built in 2012, this 118-unit asset benefits from relatively modern systems and finishes that should remain competitive versus older local stock, while still offering selective value-add through common-area upgrades and unit refreshes. Neighborhood performance ranks in the top quartile locally with competitive occupancy, and rents track in a middle band relative to incomes—conditions that favor stable lease-up and renewal capture according to CRE market data from WDSuite.
Within a 3-mile radius, recent population growth and a projected increase in households point to a larger tenant base over time. The renter-occupied share sits around one-third, indicating sufficient depth for multifamily demand without over-saturation. Ownership remains relatively accessible for the region, which can temper peak rent growth, but strong employer proximity and solid school quality support retention and day-to-day leasing velocity.
- 2012 construction supports lower near-term capex needs with potential upside from targeted renovations
- Competitive neighborhood occupancy and mid-range rents support durable cash flow dynamics
- 3-mile demographics indicate a growing household base, reinforcing tenant demand over the hold
- Proximity to major employer Corning underpins leasing stability for professional and workforce renters
- Risk: relatively accessible ownership and thinner amenities in a rural setting may moderate rent growth; active asset management is key