| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 24th | Fair |
| Demographics | 44th | Fair |
| Amenities | 7th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 165 Lake St, Perry, NY, 14530, US |
| Region / Metro | Perry |
| Year of Construction | 1978 |
| Units | 77 |
| Transaction Date | 2003-03-10 |
| Transaction Price | $632,952 |
| Buyer | SILVER LK WY HSNG DEV COR |
| Seller | SILVER LK HSNG GRP LP |
165 Lake St Perry NY Multifamily Investment
According to WDSuite’s CRE market data, neighborhood occupancy has held in the upper-80s with a positive multi-year trend, and low rent-to-income levels suggest room for retention-focused leasing strategies.
Perry is a rural neighborhood in Wyoming County with a steady renter base and practical essentials. Grocery access is competitive among Wyoming County neighborhoods (ranked favorably out of 30), though the broader amenity mix (cafes, restaurants, parks) is limited relative to neighborhoods nationwide. For investors, this points to demand tied to local employment and daily-needs convenience rather than lifestyle-driven leasing.
Neighborhood occupancy has generally remained in the upper-80s and has trended upward over the past five years, based on CRE market data from WDSuite. The share of renter-occupied housing units is under one-third, indicating an owner-tilted area; that typically supports stable but measured multifamily absorption, with a smaller—yet consistent—tenant pool.
Within a 3-mile radius, population growth has been modest, and average household size has edged lower—dynamics that can expand the renter pool as more, smaller households seek housing. Median home values are comparatively low for the region, which can create some competition from ownership options; however, rent levels relative to incomes are favorable, supporting lease retention and occupancy durability for well-managed assets.
The property’s 1978 vintage is newer than the neighborhood’s older housing stock (average vintage early 20th century), which can be a competitive advantage versus legacy buildings. Investors should still plan for targeted system upgrades and interior improvements to enhance positioning and capture value-add upside.
Neighborhood-level crime metrics are not available in WDSuite’s dataset for this location. Investors typically benchmark site-level observations against county and metro trends and validate through local law enforcement reports and property management feedback. A practical approach is to assess lighting, visibility, and access controls during due diligence to support tenant retention and leasing stability.
Local employment is diversified across regional corporate offices that support a commuting renter base. Notable nearby employers include Dish Network, Constellation Brands, Wesco Distribution, McKesson, and Thermo Fisher Scientific—providing a range of roles that can underpin steady leasing and retention.
- Dish Network — telecommunications operations (29.7 miles)
- Constellation Brands — beverage & consumer HQ functions (35.9 miles) — HQ
- Wesco Distribution — electrical distribution offices (36.7 miles)
- McKesson — healthcare distribution offices (37.5 miles)
- Thermo Fisher Scientific — life sciences offices (40.7 miles)
165 Lake St offers investors a pragmatic, income-focused approach in a rural Wyoming County location where neighborhood occupancy has been resilient and trending upward. According to CRE market data from WDSuite, rent-to-income levels are favorable, reinforcing retention and supporting stable cash flow for professionally managed assets.
Built in 1978, the asset is newer than much of the surrounding housing stock, positioning it well against older comparables. The area’s modest population growth within a 3-mile radius and a smaller average household size point to a steady renter pool, while lower ownership costs locally introduce some competition that underscores the importance of value-oriented finishes and service to sustain pricing and occupancy.
- Occupancy stability in the neighborhood with a multi-year upward trend supports consistent collections
- Favorable rent-to-income dynamics enhance lease retention and renewal probability
- 1978 vintage offers value-add potential through targeted system upgrades and interior renovations
- Modest population growth and smaller households within 3 miles contribute to a steady renter base
- Risk: Amenity-light, owner-tilted area and relatively accessible homeownership can temper rent growth, requiring disciplined asset management