| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Best |
| Demographics | 69th | Good |
| Amenities | 24th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 134 Graham Rd, Ithaca, NY, 14850, US |
| Region / Metro | Ithaca |
| Year of Construction | 1985 |
| Units | 72 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
134 Graham Rd Ithaca Multifamily Investment Opportunity
High renter-occupied share in the surrounding neighborhood supports a durable tenant base, according to WDSuite s CRE market data, with occupancy trends showing steady performance relative to regional peers.
This suburban Ithaca neighborhood is rated A- and ranks 9th out of 38 metro neighborhoods, placing it in the top quartile locally for overall fundamentals. Median contract rents sit above many U.S. neighborhoods (nationally around the upper quartiles), and neighborhood NOI per unit ranks 6th of 38, indicating operating potential that is competitive within the Ithaca metro, based on CRE market data from WDSuite.
The property s 1985 vintage is slightly newer than the neighborhood s average construction year (1980). For investors, a mid-1980s asset typically remains competitive versus older stock while warranting targeted capital planning for building systems and interiors to sustain pricing power and retention.
Local daily-needs access is moderate: grocery presence tracks near the middle of national peers, while restaurants are below the national midpoint and cafes and parks are limited. Childcare availability trends above national midpoints. These dynamics suggest residents rely on a mix of nearby conveniences and short drives to larger retail nodes, a typical pattern in workforce-oriented suburban submarkets.
Tenure patterns matter for demand: renter-occupied share in the neighborhood is high (upper national percentiles), pointing to a deep tenant pool and consistent leasing velocity. Neighborhood occupancy is around the metro middle, so asset-level leasing strategy and renewal management remain important for stability. Within a 3-mile radius, recent years show a small population dip alongside a notable increase in households and smaller average household sizes rends that generally support multifamily demand. Forward-looking 3-mile projections indicate growth in both population and households, implying an expanding renter pool and supportive fundamentals for sustained occupancy.
Home values in the neighborhood are elevated versus many U.S. areas (upper national percentiles). In practice, a higher-cost ownership market often reinforces renter reliance on multifamily housing, aiding tenant retention and offering measured pricing power for well-maintained assets.
Neighborhood-level crime benchmarks are not available from WDSuite for this location. Investors commonly contextualize safety by comparing property operations and resident feedback with broader Ithaca and county trends, and by evaluating on-site management practices that support resident experience and retention.
Regional employers contribute to a diversified workforce draw for the Ithaca area, supporting renter demand through commute-accessible jobs. Notable nearby corporate offices include:
- Corning materials & technology (37.7 miles) HQ
- WestRock packaging & paper (42.3 miles)
134 Graham Rd offers investors exposure to an Ithaca neighborhood that ranks in the top quartile locally and demonstrates above-average rent levels nationally, with NOI per unit competitive among metro peers. The 1985 vintage positions the asset slightly newer than the neighborhood average, suggesting targeted renovations and system updates could capture incremental rent and support retention over time. Within a 3-mile radius, households have increased even as population was flat to slightly lower, and projections indicate growth in both households and population a setup that typically expands the renter base and supports occupancy stability, according to WDSuite s commercial real estate analysis.
Elevated neighborhood home values relative to national norms reinforce reliance on rental housing, while a high share of renter-occupied units indicates depth of demand. Near-term risks include middling neighborhood occupancy versus the metro and modest amenity density, which place greater emphasis on property-level operations, renewals, and asset quality to sustain leasing performance.
- Top-quartile neighborhood rank in the Ithaca metro supports competitive positioning
- Mid-1980s vintage offers value-add potential via targeted renovations and system upgrades
- High renter-occupied share and rising 3-mile household counts point to a durable tenant base
- Elevated ownership costs locally can bolster renter retention and measured pricing power
- Risk: neighborhood occupancy trends near the metro middle and limited amenity depth require strong operations