| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Best |
| Demographics | 57th | Fair |
| Amenities | 65th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 210 Lake St, Ithaca, NY, 14850, US |
| Region / Metro | Ithaca |
| Year of Construction | 1990 |
| Units | 94 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
210 Lake St Ithaca Multifamily Investment Opportunity
Renter demand is supported by a high renter-occupied share in the surrounding neighborhood and dense amenity access, according to WDSuite’s CRE market data. Investors should expect competitive leasing dynamics at the neighborhood level, with pricing power tied to product quality and value positioning.
Situated in Ithaca’s Urban Core, the neighborhood ranks 3rd of 38 metro neighborhoods overall (A rating), indicating competitive fundamentals among Ithaca sub-areas. Amenity density is a standout: restaurants, groceries, parks, and cafes all place near the top of the metro, and these categories track in the top quartile nationally, supporting walkability and daily convenience for residents.
For multifamily demand, the neighborhood’s renter-occupied share is high (ranked 2nd of 38 and among the highest nationally), signaling a deep tenant base for workforce and student-oriented product. By contrast, neighborhood occupancy is below the metro median (ranked 36th of 38) and has been essentially flat over five years, so competitive positioning, management, and renovations can be important to sustain absorption and renewals.
Within a 3-mile radius, population has grown modestly in recent years and is projected to continue increasing, with households expected to rise substantially through 2028. This expansion points to a larger tenant base and supports leasing durability, particularly for well-located, updated units. Average household size is trending smaller within the 3-mile view, which can favor studios and one-bedrooms and support steady turnover without sacrificing occupancy stability.
Ownership costs are elevated relative to incomes at the neighborhood level (value-to-income metrics rank near the top of the metro and high nationally), which tends to reinforce reliance on rental housing and can support retention. At the same time, the neighborhood rent-to-income ratio is high, suggesting affordability pressure that warrants active lease management and amenity-value alignment. School ratings in the neighborhood are below the national median, which may matter for larger, family-oriented product mixes but is less likely to weigh on student or young-professional demand.
Comparable safety benchmarking for this neighborhood is limited in the current dataset from WDSuite, so no metro rank or national percentile is shown. Investors typically contextualize safety using multi-year city reports and police department releases alongside property-level incident histories to understand trend direction and how it compares with nearby Ithaca neighborhoods.
Regional employers help underpin renter demand across Tompkins County and surrounding markets. The list below highlights a notable headquarters within broader commuting reach that can contribute to regional employment stability.
- Corning — materials science & glass (35.8 miles) — HQ
Built in 1990, the property is newer than the neighborhood’s average vintage, which can provide a competitive edge versus older stock while still leaving room for targeted renovations and systems upgrades. Demand is supported by one of the highest renter-occupied shares in the metro and strong neighborhood amenity access; according to CRE market data from WDSuite, these factors align with steady renter interest even as neighborhood occupancy trends run below the metro median.
Within a 3-mile radius, population and households are growing and are projected to expand further by 2028, supporting a larger tenant base and potential lease-up resilience. Elevated ownership costs in the neighborhood context tend to sustain rental reliance, though a high rent-to-income ratio points to affordability pressure that should be managed through thoughtful pricing and value-add scopes.
- 1990 vintage offers relative competitiveness versus older neighborhood stock with selective value-add upside.
- Deep renter base (high renter-occupied share) supports tenant demand and renewal potential.
- Dense amenity access in the Urban Core underpins leasing and day-to-day livability.
- 3-mile population and household growth expand the prospective renter pool through 2028.
- Risk: Neighborhood occupancy ranks below metro peers and rent-to-income is high, requiring careful pricing and asset management.