| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Fair |
| Demographics | 74th | Good |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11 Mineah Rd, Freeville, NY, 13068, US |
| Region / Metro | Freeville |
| Year of Construction | 1980 |
| Units | 27 |
| Transaction Date | --- |
| Transaction Price | $305,000 |
| Buyer | FANE JASON |
| Seller | PERIALAS JOHN PERIALAS DORIS |
11 Mineah Rd Freeville Multifamily Investment Thesis
Stabilized suburban setting near Ithaca with renter demand supported by rising household incomes, based on CRE market data from WDSuite. Positioning may suit durable cash flow with operational focus rather than lease-up risk.
Freeville sits within the Ithaca, NY metro and reflects a suburban profile with limited retail and service density. Neighborhood amenity presence ranks near the bottom among 38 metro neighborhoods, so residents rely on broader Ithaca corridors for daily needs. For investors, this typically translates to quieter, car-oriented living rather than walkable, amenity-rich leasing drivers.
Occupancy in the neighborhood ranks lowest among the 38 neighborhoods in the metro, indicating softer utilization than many Ithaca peers, according to WDSuite’s CRE market data. That backdrop suggests the business plan should emphasize tenant retention and targeted marketing. At the same time, the area’s rent-to-income positioning sits below many U.S. neighborhoods (low national percentile reading), which can support retention and collections management.
Demographic statistics aggregated within a 3-mile radius show a modest increase in population over the last five years and a larger rise in households, pointing to smaller household sizes and a gradually expanding renter pool. Renter-occupied share within this 3-mile radius sits around four-tenths of housing units, indicating a meaningful tenant base for multifamily demand. Income levels in the radius have trended higher, supporting achievable rent levels without over-reliance on premium finishes.
Educational attainment in the neighborhood measures in the top quartile nationally, which can correlate with stable incomes and steady leasing in workforce and conventional product. Median home values trend slightly above national medians on a value-to-income basis, which can sustain renter reliance on multifamily. Taken together with modest rents by national standards, these dynamics align with an operationally focused plan grounded in multifamily property research rather than speculative growth.
Comparable, neighborhood-level crime data are limited in the available feed for this location. Investors typically contextualize safety using multi-year municipal and county sources and cross-check with regional benchmarks to understand trends rather than block-level claims.
Regional employment access is anchored by larger corporate offices within commuting distance, supporting workforce housing demand and lease retention for residents who value suburban living. Notable employers include WestRock, Corning, and ADP Syracuse.
- WestRock — packaging and paper (41.3 miles)
- Corning — materials and specialty glass (42.0 miles) — HQ
- ADP Syracuse — payroll and HR services (44.2 miles)
Built in 1980 across 27 units, the property offers a vintage that is newer than much of the surrounding housing stock, which can be competitively positioned against older assets while still benefiting from selective system upgrades or unit renovations to drive rentability. According to CRE market data from WDSuite, neighborhood occupancy trends have been softer than many metro peers, so the thesis leans on operational execution: retention, targeted leasing, and pragmatic turns rather than aggressive rent-up assumptions.
Within a 3-mile radius, households have increased even as average household size trends smaller, indicating a broader tenant base and support for occupancy stability. A renter-occupied share near two-fifths of units and rising income levels reinforce demand depth at attainable price points. Homeownership costs sit modestly above national norms on a value-to-income basis, which can sustain reliance on rental housing and underpin steady leasing in conventional product.
- 1980 vintage offers competitive positioning versus older local stock with clear value-add pathways
- Household growth within 3 miles expands the tenant base and supports occupancy stability
- Rent-to-income positioning supports retention and collections management at attainable price points
- Operational focus: emphasize renewals, targeted marketing, and selective upgrades over speculative lease-up
- Risks: amenity-light setting and metro-low neighborhood occupancy require disciplined leasing and expense control