| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Best |
| Demographics | 69th | Good |
| Amenities | 24th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1 Yardley Grn, Ithaca, NY, 14850, US |
| Region / Metro | Ithaca |
| Year of Construction | 1990 |
| Units | 20 |
| Transaction Date | 2010-08-10 |
| Transaction Price | $2,440,000 |
| Buyer | KENSINGTON FRENCH PARTNER |
| Seller | WHITFIELD GLEN S |
1 Yardley Grn Ithaca Multifamily Investment
Suburban Ithaca location with a renter-occupied share that ranks in the top quartile among 38 metro neighborhoods supports depth of tenant demand, according to WDSuite’s CRE market data. Neighborhood occupancy trends track near the metro average, positioning this asset for steady leasing with prudent operations.
Situated in a suburban pocket of Ithaca, the neighborhood is rated A- and ranks 9th of 38 metro neighborhoods, placing it in the top quartile locally. That combination signals competitive livability for residents while offering investors a balanced environment for long-term leasing.
Renter-occupied housing accounts for a high share of units in this neighborhood (ranked 9th of 38), indicating a deep tenant base and resilient multifamily demand. Overall occupancy for the neighborhood sits near the metro middle, suggesting stable but competitive leasing conditions where asset quality and management can influence performance.
Local amenity density is moderate for groceries and restaurants (competitive among Ithaca neighborhoods), while cafés, parks, and pharmacies are limited within the immediate area—typical of lower-density suburban settings. For investors, this mix supports everyday convenience but places a premium on on-site features and parking.
Home values trend above many neighborhoods nationally and the value-to-income ratio sits above the national median, both of which can reinforce reliance on rental housing and support retention. Median contract rents in the neighborhood are also above national norms, while the rent-to-income ratio trends toward manageable levels—factors that can help sustain occupancy without overextending affordability.
Within a 3-mile radius, households increased over the last five years and are projected to expand further, pointing to a larger tenant base and potential renter pool expansion. Population growth is forecast to return over the next five years, and a sizable share of 18–34 year-olds in the area supports ongoing multifamily demand, based on CRE market data from WDSuite.
The property’s 1990 vintage is newer than the neighborhood’s average construction year (1980), providing relative competitiveness versus older stock; investors should still plan for typical modernization and system updates associated with 1990s-era buildings.
Comparable safety data for this neighborhood is not available in the current WDSuite release. Investors typically benchmark neighborhood-level trends against broader Ithaca and Tompkins County patterns to contextualize risk and leasing durability.
Prudent underwriting can account for safety perception by monitoring tenant retention, insurance cost trends, and any citywide shifts. When new neighborhood-level crime rankings become available, they can help determine whether conditions align with, exceed, or trail regional norms.
Regional employment is supported by large corporate offices within the broader commuter shed, which can help underpin renter demand and retention for workforce-oriented units. Notable nearby employers include Corning and WestRock.
- Corning — materials & technology (38.1 miles) — HQ
- WestRock — paper & packaging (42.1 miles)
This 20-unit asset in suburban Ithaca benefits from a neighborhood ranked in the top quartile among 38 metro neighborhoods and a high renter-occupied share that deepens the tenant base. Neighborhood occupancy trends sit near the metro average, and according to CRE market data from WDSuite, rents and home values are elevated versus national norms—conditions that can sustain rental preference and support pricing discipline when paired with capable management.
Built in 1990, the property is newer than the local average vintage, offering relative competitiveness against older stock while still meriting standard modernization and system upgrades as part of capital planning. Within a 3-mile radius, households have grown and are projected to expand further, pointing to a larger tenant base and potential renter pool expansion that can support occupancy stability over the hold period.
- Top-quartile neighborhood ranking locally with strong renter concentration, supporting leasing depth
- Occupancy trends near metro averages; performance levered to asset quality and operations
- 1990 vintage is newer than area norms, with modernization potential for competitive positioning
- Household growth within 3 miles and projected expansion support a larger renter pool
- Risks: limited nearby amenities and occupancy trending around the metro middle require focused leasing and asset management