| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 19th | Fair |
| Demographics | 35th | Fair |
| Amenities | 10th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 119 Lincoln St, Wayland, NY, 14572, US |
| Region / Metro | Wayland |
| Year of Construction | 1990 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
119 Lincoln St, Wayland NY 20-Unit Multifamily
Rural setting with renter demand anchored by attainable pricing and regional commute patterns, according to WDSuite’s CRE market data. Neighborhood occupancy trends reflect a softer local market, so underwriting should prioritize affordability-led leasing and retention.
Wayland is a rural neighborhood within the Corning, NY metro, rated C+ and positioned below the metro median (rank 48 of 71 neighborhoods). Amenity density is limited — food, parks, and cafés are sparse — though pharmacy access is comparatively better than many rural peers. For investors, this suggests residents rely on regional shopping and services, which can favor properties that offer on-site convenience and reliable parking.
Neighborhood school ratings track near the national midpoint, while higher-education attainment is lower than many areas nationwide. Rent levels are modest for the neighborhood, and rent-to-income ratios indicate relatively low affordability pressure, supporting lease retention and payment performance. However, neighborhood occupancy sits below the metro median (rank 46 of 71), so pricing discipline and value-oriented finishes are important to sustain absorption.
Within a 3-mile radius, demographics indicate a small tenant base that declined modestly over the last five years, with forecasts showing essentially flat population but an expected increase in households. A larger household size mix is projected, which can expand the renter pool even if population growth is muted, supporting occupancy stability for well-managed assets.
Tenure patterns within a 3-mile radius show roughly one-quarter of housing units are renter-occupied, signaling a measurable but finite multifamily demand pool. Homeownership costs in the area are comparatively accessible, which can create competition with entry-level ownership; at the same time, modest rents and low rent-to-income burdens give operators room to prioritize retention over outsized near-term rent lifts. These dynamics are consistent with rural workforce housing markets and, based on commercial real estate analysis from WDSuite, point to steady performance for value-focused assets rather than outsized growth.
Comparable neighborhood safety metrics for this area are not available in WDSuite’s dataset for the Corning, NY metro. Without verified crime ranks or national percentiles, investors should benchmark the property’s experience against county-level trends and recent police or insurance reports, and incorporate property management feedback on incident history and security measures.
Regional employment is anchored by large corporate operators within commuting range, supporting workforce housing demand and lease retention for value-oriented properties. Key employers include Constellation Brands, Dish Network, Thermo Fisher Scientific, Corning, and Wesco Distribution.
- Constellation Brands — beverage & consumer products (33.4 miles) — HQ
- Dish Network — telecommunications (33.9 miles)
- Thermo Fisher Scientific In Fairport Ny — life sciences (37.4 miles)
- Corning — materials & advanced manufacturing (39.8 miles) — HQ
- Constellation Brands, Inc. — beverage distribution (40.7 miles)
Built in 1990, the property offers a durable vintage with potential for targeted value-add—kitchens, baths, common areas, and energy systems—to enhance competitiveness against older rural stock while keeping capital plans measured. The neighborhood’s renter base is modest but stable, with low rent-to-income pressure and accessible absolute rents that can support retention. According to CRE market data from WDSuite, neighborhood occupancy trends are below the metro median, making disciplined leasing, thoughtful unit turns, and amenity-light efficiencies central to the thesis.
Ownership costs nearby are comparatively accessible, which can temper pricing power; counterbalancing that, attainable rents, small-unit formats, and commuter access to regional employers support steady demand for workforce housing. Forward-looking household growth within a 3-mile radius, even with flat population, suggests more households entering the market—expanding the tenant base and helping stabilize occupancy for value-focused operations.
- 1990 vintage with clear, targeted value-add and systems upgrades to boost renter appeal
- Attainable rents and low rent-to-income pressure support retention and cash flow durability
- Household growth within 3 miles expands the renter pool despite flat population projections
- Regional employment hubs within commuting range underpin workforce housing demand
- Risk: Neighborhood occupancy below metro median and limited local amenities require conservative underwriting