| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Best |
| Demographics | 57th | Fair |
| Amenities | 65th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 210 Dryden Rd, Ithaca, NY, 14850, US |
| Region / Metro | Ithaca |
| Year of Construction | 1980 |
| Units | 22 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
210 Dryden Rd Ithaca Multifamily Investment Thesis
Dense urban amenities and a high renter concentration point to durable tenant demand in this Ithaca core location, according to WDSuite’s CRE market data.
This Urban Core neighborhood ranks 3rd among 38 Ithaca neighborhoods with an overall A rating, indicating competitive fundamentals for multifamily. Amenity access is a clear strength: restaurants, groceries, parks, and cafes score near the top locally and compare favorably nationwide, supporting walkability and daily convenience that help leasing and renewal performance.
The neighborhood shows a high share of renter-occupied housing (2nd of 38), which signals a deep tenant base for smaller and mid-size assets. By contrast, neighborhood occupancy ranks near the bottom of the metro (36th of 38), suggesting investors should emphasize leasing management and product differentiation to sustain stabilization. In our commercial real estate analysis, the combination of renter concentration and amenity density typically offsets some volatility, but execution matters.
Within a 3-mile radius, WDSuite data shows modest population growth and a larger increase in household counts, alongside shrinking household sizes. That mix often reflects student and young professional demand, expanding the renter pool and supporting absorption of well-located units. Average school ratings track below national norms, which may tilt demand toward smaller household profiles rather than family-focused product.
Ownership remains relatively high-cost versus incomes (top tier value-to-income positioning locally), which can reinforce reliance on rentals and support pricing power for competitively positioned assets. Median contract rents trend above metro medians and have grown over the past five years, while income growth has also advanced, creating room for well-managed properties to capture premiums without overextending affordability.
Comparable neighborhood crime metrics were not available in WDSuite for this location at the time of publication. Investors typically benchmark safety using metro-level context and trend comparisons when data becomes available, and align on-site measures (lighting, access control, tenant screening) with standard multifamily practices to support retention and leasing.
Built in 1980 and totaling 22 units, the property is slightly newer than the area’s average vintage, providing a platform for targeted renovations to modernize interiors and systems. The immediate neighborhood combines strong amenity access with a high renter-occupied share, while broader 3-mile trends point to renter pool expansion as households grow and average household size declines. According to CRE market data from WDSuite, local NOI-per-unit benchmarks are competitive within the metro, reinforcing the case for well-executed operations in this location.
Key considerations include a metro-relative neighborhood occupancy rank near the bottom—underscoring the need for active lease-up strategy—and affordability pressure indicated by elevated rent-to-income ratios, which calls for disciplined renewals and amenity-driven retention. At the same time, high ownership costs versus incomes support continued renter reliance, particularly for well-located, walkable assets.
- Amenity-rich Urban Core location with top-tier local rankings supports everyday convenience and leasing velocity.
- High renter-occupied share indicates deep, durable tenant demand for smaller and mid-size multifamily assets.
- 1980 vintage offers value-add potential through interior refreshes and system upgrades to improve competitive positioning.
- Elevated ownership costs relative to incomes help sustain reliance on rentals and support pricing for well-managed units.
- Risks: neighborhood occupancy ranks near the bottom locally and rent-to-income is elevated—active leasing and retention discipline are important.