| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Best |
| Demographics | 67th | Best |
| Amenities | 39th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6 Pine Tree Vlg, Painted Post, NY, 14870, US |
| Region / Metro | Painted Post |
| Year of Construction | 2002 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
6 Pine Tree Vlg Painted Post Multifamily Investment
Positioned for steady renter demand in the Corning, NY metro, the neighborhood shows competitive occupancy levels at the area scale, according to WDSuite’s CRE market data. Balanced rent-to-income dynamics and a 2002 vintage support operational stability with modest capital planning.
This property sits in an A+–rated neighborhood that ranks 2 out of 71 in the Corning, NY metro, indicating strong local fundamentals relative to peers. Neighborhood occupancy is competitive among Corning neighborhoods (ranked 12 of 71), suggesting a stable leasing backdrop, while national performance is more middle-of-the-pack, reinforcing the importance of property-level operations and positioning.
Livability indicators are supportive for workforce housing. Average school ratings are strong (4.0 out of 5; top quartile nationally), and everyday services such as cafes and childcare score above national midpoints, though parks and pharmacies within the immediate neighborhood are limited, meaning some amenities may require short drives. Median contract rents in the neighborhood sit around the low-$1,000s, aligning with a rent-to-income profile that supports retention and measured pricing power for well-managed assets.
Tenure patterns point to a viable renter base. At the neighborhood level, renter-occupied housing units account for roughly one-quarter to one-third of stock, which supports demand without excessive concentration. Within a 3-mile radius, about one-third of housing units are renter-occupied, indicating a sufficiently deep tenant pool for a 36-unit asset while still facing some competition from ownership options.
Demographic data aggregated within a 3-mile radius shows recent population growth with further near-flat expansion projected. Forecasts point to an increase in households and rising incomes, which can expand the renter pool and support occupancy stability. However, owner-occupied share is expected to edge higher in projections, so underwriting should assume steady—but not accelerating—renter capture.
Home values in the neighborhood are moderate for the region, and the value-to-income ratio is relatively low compared with high-cost markets. This ownership landscape can introduce some competition with for-sale options, but it also supports lease retention where properties deliver convenience and quality at attainable rents. Based on CRE market data from WDSuite, the NOI per unit profile for the broader area trends favorably versus national median benchmarks, underscoring operational efficiency potential for competitive assets.
Neighborhood-level crime benchmarks were not available in WDSuite’s dataset for this location. Investors typically contextualize safety by reviewing city and county trend reports, comparing nearby neighborhood patterns, and assessing property-level measures (lighting, access control, and visibility). As with any market, a localized review and management practices are important inputs to risk assessment.
Proximity to a major advanced materials employer supports workforce housing demand and commute convenience for residents. The nearby presence also contributes to renter retention via stable professional and technical employment.
- Corning — glass & materials HQ (3.5 miles) — HQ
Built in 2002, this 36-unit asset offers a competitive vintage for a smaller Upstate New York metro, positioning it well against older local stock while keeping capital needs manageable. Neighborhood performance is strong within the Corning, NY area, and, according to CRE market data from WDSuite, occupancy ranks above the metro median. Within a 3-mile radius, stable population trends, rising incomes, and an adequately sized renter base point to durable demand, while attainable rent levels support retention and steady operations.
Forward-looking dynamics are constructive but call for disciplined underwriting. Household counts are projected to increase and income growth is favorable, yet a modest shift toward ownership suggests leasing wins will favor properties that deliver convenience, quality, and professional management. The 2002 vintage provides a head start, though investors should plan for targeted system updates and unit refreshes to sustain competitiveness.
- Competitive neighborhood standing within Corning, NY supports occupancy stability
- 2002 construction offers relative quality versus older local stock with manageable capex planning
- 3-mile demographics show income growth and an adequate renter pool for a 36-unit asset
- Attainable rent-to-income dynamics support resident retention and measured pricing power
- Risks: limited nearby parks/pharmacies and potential competition from ownership options; focused leasing and amenity upgrades mitigate exposure