| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Good |
| Demographics | 78th | Best |
| Amenities | 59th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 101 Uptown Rd, Ithaca, NY, 14850, US |
| Region / Metro | Ithaca |
| Year of Construction | 1985 |
| Units | 48 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
101 Uptown Rd, Ithaca NY Multifamily Investment
Positioned in an inner-suburban pocket of Ithaca with strong neighborhood fundamentals and a deep renter base, the asset benefits from steady demand supported by nearby amenities and education-driven employment. Neighborhood performance and rent levels are consistent with above-median peers, according to WDSuite’s CRE market data.
This A+ rated neighborhood ranks 2nd out of 38 Ithaca metro neighborhoods, placing it in the top quartile locally and signaling strong overall livability and investment appeal. Amenities are a clear strength: cafes and pharmacies score competitively, with cafes in the top quartile nationally and parks access also performing well. These features support resident retention and leasing velocity for workforce and professional tenants.
Schools average around mid-3s on a five-point scale and rank 4th of 38 in the metro, which is competitive among Ithaca neighborhoods and above national medians. Median contract rents benchmark in the upper tier nationally, while neighborhood rent-to-income levels suggest manageable affordability pressure, supporting lease stability rather than sharp turnover.
Multifamily demand is reinforced by tenure patterns: at the neighborhood level, renter-occupied housing comprises nearly half of units (above most U.S. neighborhoods), indicating a reliable tenant pool and recurring leasing needs. Looking at market depth within a 3-mile radius, the renter concentration is higher and households have increased over the past five years with further growth expected, expanding the potential tenant base even as population trends edge down and average household sizes decline. This combination typically supports occupancy resilience and absorption of renovated units.
Occupancy at the neighborhood level sits below the metro median (ranked 32 out of 38), which warrants attention to marketing and unit positioning. However, amenity access, education levels (top decile nationally for bachelor’s share), and steady neighborhood NOI per unit provide a constructive backdrop for targeted value-add strategies and differentiated finishes.
Comparable safety data at the neighborhood level is not available in the current WDSuite release for this area. Investors typically benchmark conditions against metro and national peers and monitor multi-year trends from public sources to evaluate stability and potential operational impacts. Absent standardized figures, prudent underwriting can assume neutral conditions and incorporate routine security, lighting, and access-control measures consistent with similar inner-suburban assets.
- Corning — glass and materials (37.8 miles) — HQ
- WestRock — paper & packaging (42.6 miles)
Built in 1985, this 48-unit asset is newer than the neighborhood’s average vintage, positioning it competitively versus older local stock while still offering scope for system upgrades and light renovations. Amenity access, strong educational attainment, and a sizable renter base underpin durable leasing, while neighborhood occupancy trends below the metro median suggest that well-calibrated pricing and targeted improvements can capture demand and improve performance over time, based on CRE market data from WDSuite.
Within a 3-mile radius, households have grown and are projected to continue increasing, even as average household size declines—expanding the tenant pool and supporting absorption for a range of unit types. Elevated ownership costs in the area tend to support renter reliance on multifamily housing, which can aid retention and reduce concession risk for well-maintained properties.
- 1985 vintage offers competitive positioning vs. older stock with potential value-add from modernization.
- Amenity-rich inner-suburban location with cafes, parks, and pharmacies supporting resident retention.
- Deep renter base locally and within 3 miles, with rising household counts supporting demand and occupancy stability.
- Ownership costs reinforce rental demand, aiding pricing power for maintained and updated units.
- Risk: neighborhood occupancy ranks below the metro median; success depends on precise unit positioning, marketing, and renovation scope.