| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Good |
| Demographics | 74th | Good |
| Amenities | 11th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 200 Conifer Dr, Ithaca, NY, 14850, US |
| Region / Metro | Ithaca |
| Year of Construction | 2008 |
| Units | 81 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
200 Conifer Dr Ithaca 2008 Multifamily Investment
Neighborhood occupancy trends sit in the top quartile locally, and this 2008-vintage, 81-unit asset positions ahead of older nearby stock, according to WDSuite’s CRE market data.
Located in a suburban pocket of Ithaca, the neighborhood posts an occupancy rate that ranks 8 out of 38 metro neighborhoods — top quartile among the Ithaca market and strong by national comparison (83rd percentile). That backdrop supports rent stability and leasing velocity for professionally managed multifamily.
The property’s 2008 construction is newer than the area’s older housing base (average vintage 1955), suggesting competitive positioning versus legacy assets. For investors, that typically means more limited near-term capital needs, while still budgeting for systems refreshes and common-area updates as the asset approaches its second decade.
Retail density is sparse immediately nearby (few cafés, groceries, or pharmacies per square mile), pointing to more car-oriented living. Park access is comparatively better, ranking 9 of 38 — competitive among Ithaca neighborhoods — which can aid livability and retention. Home values sit around the 66th percentile nationally within the neighborhood, a high-cost ownership context that can reinforce renter reliance on multifamily housing.
Within a 3‑mile radius, household counts have grown and are projected to expand further, with smaller average household sizes. A renter-occupied share of roughly 62% in this radius indicates a deep tenant base, while rising household incomes and mid-range rent-to-income levels support ongoing demand. These dynamics align with findings from WDSuite’s commercial real estate analysis, suggesting durable renter demand rather than transient spikes.
Neighborhood-level crime metrics are not available in WDSuite for this location. Investors typically benchmark safety by comparing neighborhood trends to city and county reporting and by evaluating property-level measures (lighting, access control, and management practices) to support resident retention. Use consistent, like-for-like data sources when comparing against other Ithaca neighborhoods to avoid misreads.
Regional employment is anchored by established corporates and institutions across the broader area, providing a stable commuter base that supports renter demand. Notable nearby corporate presence includes:
- Corning — corporate offices (34.2 miles) — HQ
This 81‑unit, 2008-vintage property benefits from a neighborhood with top‑quartile occupancy within the Ithaca metro and a large renter pool within a 3‑mile radius. The asset’s newer construction relative to the area’s 1950s-era housing base supports competitive positioning and moderated near‑term capex, while higher neighborhood home values point to a high‑cost ownership market that can sustain rental demand.
Household growth and rising incomes in the 3‑mile area suggest a larger tenant base over the next few years, supporting occupancy stability and lease retention. According to CRE market data from WDSuite, neighborhood rent levels and rent‑to‑income dynamics are mid‑range nationally, which helps balance pricing power with affordability pressure management.
- Top‑quartile neighborhood occupancy among 38 Ithaca neighborhoods supports leasing stability
- 2008 vintage competes well versus older local stock, with manageable capital planning
- Deep renter base within 3 miles and projected household growth expand the tenant pipeline
- High‑cost ownership context underpins renter reliance, aiding retention and occupancy
- Risk: sparse immediate retail/amenity density may require pricing discipline and strong on‑site services