| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 27th | Good |
| Demographics | 41st | Good |
| Amenities | 31st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 300 Steuben St, Painted Post, NY, 14870, US |
| Region / Metro | Painted Post |
| Year of Construction | 1976 |
| Units | 76 |
| Transaction Date | 2002-10-09 |
| Transaction Price | $1,050,000 |
| Buyer | CONIFER PAINTED POST ASSO C LLC |
| Seller | VILLAGE MANOR ASSOC LTD P TNRSHP |
300 Steuben St, Painted Post NY Multifamily Investment
Neighborhood-level fundamentals point to steady renter demand supported by accessible rents and commuting proximity to Corning, according to WDSuite’s CRE market data.
Livability signals are mixed but investable for workforce housing. Within the neighborhood, restaurants and groceries are comparatively convenient versus many Corning metro areas (ranked 7th and 8th among 71 metro neighborhoods), while parks access is a local strength (5th of 71 and roughly top quartile nationally). By contrast, cafes, childcare, and pharmacies are sparse, reinforcing a quieter, lower-density setting.
Rents in the neighborhood trend on the accessible side (neighborhood median sits below the national midpoint), and the rent-to-income profile indicates manageable affordability pressure, supporting retention and collections. Home values sit on the lower end relative to national norms, which can create competition from entry-level ownership; pricing strategy and unit quality become important to sustain leasing velocity.
Occupancy in the neighborhood trails many peers (ranked 42nd of 71 in the metro and below national averages), so investors may favor conservative lease-up assumptions or targeted renewals. The renter-occupied share locally is moderate among Corning neighborhoods (15th of 71), with deeper renter concentration evident across the broader 3-mile area—together suggesting a viable tenant base that extends beyond the immediate blocks.
Demographic statistics are aggregated within a 3-mile radius. Recent years show modest population growth and a rising household count, with projections indicating further increases over the next five years. This points to a gradually expanding renter pool, which should aid occupancy stability. Median household income has trended upward, reinforcing ability-to-pay for renovated product and supporting selective rent premiums where finishes justify the ask, based on multifamily property research from WDSuite.
Schools rate below national medians (around the 15th percentile nationally), which can temper appeal for some family renters. That said, the area’s workforce orientation and proximity to regional employment help balance demand, particularly for smaller households and value-focused tenants.
Public safety data at the neighborhood level is limited in this release. Investors typically benchmark conditions against city and county trends and monitor multi-year directionality rather than single-year snapshots. Standard underwriting practice would incorporate property-level security measures, lighting, and resident engagement as part of operations planning.
The local employment base is anchored by advanced materials and manufacturing, offering commute convenience that can support renter demand and retention. Notably, the following nearby employer is relevant to workforce housing in this submarket.
- Corning — advanced materials & technology (2.1 miles) — HQ
Built in 1976, the asset likely benefits from value-add potential through unit modernization and selective systems upgrades. The surrounding neighborhood offers accessible rents and a renter base supported by proximity to a major employer, while national-positioning data from WDSuite indicates parks and everyday retail access are competitive within the metro even as some amenities remain limited.
Occupancy in the immediate neighborhood is below many metro peers, so conservative leasing assumptions are prudent. However, 3-mile demographics point to population growth and increasing households over the next five years, which supports a larger tenant base and steadier absorption. According to CRE market data from WDSuite, ownership costs in the area remain relatively low versus national norms, so thoughtful finish levels and pricing will be key to differentiate from entry-level ownership options.
- 1976 vintage provides clear value-add and systems-upgrade pathways to enhance NOI
- Workforce demand supported by proximity to a major regional employer
- 3-mile population and household growth expand the renter pool and support leasing
- Accessible neighborhood rent levels aid retention and collections management
- Risks: below-metro occupancy, lower school ratings, and potential competition from entry-level ownership