| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Best |
| Demographics | 57th | Fair |
| Amenities | 65th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 110 Dryden Rd, Ithaca, NY, 14850, US |
| Region / Metro | Ithaca |
| Year of Construction | 1995 |
| Units | 68 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
110 Dryden Rd Ithaca Multifamily in Amenity-Dense Core
Renter demand is supported by a high neighborhood renter-occupied share and elevated home values that favor leasing, according to WDSuite’s CRE market data. Investors should underwrite for affordability management given local rent-to-income readings.
Located in Ithaca’s Urban Core, the neighborhood holds an A rating and ranks 3rd among 38 metro neighborhoods, indicating competitive fundamentals within the metro. Amenity density is a standout strength—grocery, restaurant, park, and cafe counts often place 2nd of 38—translating to top quartile nationally for daily-needs and dining access. This concentration of amenities typically supports leasing velocity and retention for walkable multifamily.
Multifamily positioning benefits from a high neighborhood renter-occupied share (measured for the neighborhood, not the property) that ranks 2nd of 38 and sits in higher national percentiles. By contrast, the neighborhood’s occupancy level is below the national median and ranks near the bottom of the 38-neighborhood metro set, suggesting investors should plan for active leasing and seasonal demand management rather than assuming full stabilization. Based on commercial real estate analysis from WDSuite, these mixed signals still skew favorable for long-term renter depth.
Home values are elevated relative to local incomes (high national percentile for value-to-income), creating a high-cost ownership market that tends to reinforce reliance on rental housing and support tenant retention. At the same time, the neighborhood’s rent-to-income ratio is high, introducing affordability pressure that warrants careful lease management and renewal strategies.
Demographic indicators aggregated within a 3-mile radius point to a growing renter pool: recent population and household counts have increased, with forecasts calling for additional population gains and a notable rise in households alongside smaller average household sizes. For multifamily, that generally means a larger tenant base and more one- to two-person household demand, which can support occupancy stability over the cycle.
Vintage context: the average neighborhood construction year trends older (around 1970), while this asset was built in 1995. That relative youth can be a competitive advantage versus older stock, though investors should still plan for ongoing modernization of systems and common areas as part of long-term capital planning.
School scores in the neighborhood track below national averages, even if the local rank sits above the metro median. In urban renter nodes driven by convenience and proximity, this tends to influence tenant mix and marketing more than core demand.
Neighborhood crime metrics are not available in WDSuite for this location, so comparative safety positioning versus Ithaca or national benchmarks cannot be determined from this dataset. Investors should supplement underwriting with local public sources, property-level incident histories, and insurer guidance to align security measures and operating budgets with observed conditions.
Regional employment includes advanced manufacturing and materials science, with Corning appearing in the broader labor shed. This can contribute to renter demand from employees willing to commute for specialized roles and supports retention where commute options are practical.
- Corning — materials science & manufacturing (35.8 miles) — HQ
This 68-unit property, built in 1995, is newer than much of the surrounding stock and positioned in a top-ranked Ithaca neighborhood with strong walkability and daily-needs access. High neighborhood renter concentration and a high-cost ownership market support a deep tenant base and potential retention, while below-median neighborhood occupancy indicates the need for disciplined leasing and seasonality planning.
According to CRE market data from WDSuite, the area shows strong amenity access and a renter-oriented profile alongside demographic tailwinds within a 3-mile radius, with rising household counts and smaller household sizes expanding the renter pool. Affordability pressures (high rent-to-income levels) should be incorporated into pricing and renewal strategies, with capex allocated to modernization that keeps a 1995 asset competitive.
- Urban Core location with top-tier amenity access supports leasing velocity and retention
- Newer vintage (1995) relative to neighborhood average provides competitive positioning with value-add potential
- High renter-occupied share and high-cost ownership market reinforce depth of tenant base
- Demographic outlook (3-mile radius) indicates more households and a larger renter pool over the next cycle
- Risk: neighborhood occupancy trails metro and national medians; affordability pressure elevates renewal and pricing sensitivity