| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Best |
| Demographics | 36th | Poor |
| Amenities | 6th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 53 Lake Mills Rd, Cairo, NY, 12413, US |
| Region / Metro | Cairo |
| Year of Construction | 1980 |
| Units | 23 |
| Transaction Date | 2016-04-05 |
| Transaction Price | $355,000 |
| Buyer | TRIPSAS CHRIST |
| Seller | TOWER REAL PROPERTY LLC |
53 Lake Mills Rd Cairo Multifamily Investment, 23 Units
Rural neighborhood with a smaller renter base but improving occupancy trends suggests measured stability for a well-managed asset, according to WDSuite’s CRE market data.
This rural Cairo location offers a quieter setting and car-dependent living, with limited nearby amenities compared with both the metro and national landscape. Amenity access ranks below most Greene County neighborhoods and sits in a low national percentile, which places greater emphasis on on-site appeal and property management to support retention.
Neighborhood occupancy is above the metro median (ranked 17 of 37) yet trails many areas nationwide (low national percentile), indicating that consistent leasing is attainable but not automatic; disciplined marketing and tenant retention practices matter. The share of housing units that are renter-occupied is competitive among Greene County neighborhoods (ranked 13 of 37) and near mid-range nationally, implying a thinner—but identifiable—tenant base for small multifamily.
Median home values sit modestly above the national midpoint while value-to-income levels are elevated (top quartile nationally). For investors, this high-cost ownership context can reinforce reliance on rental housing, supporting pricing power for well-kept units while requiring attention to affordability management to minimize turnover risk.
The property’s 1980 vintage is newer than the area’s average construction year (1963), offering relative competitiveness versus older stock. Investors should still plan for aging systems and selective modernization to enhance leasing performance and preserve NOI.
Neighborhood-level crime metrics are not available from WDSuite for this location. Investors commonly benchmark safety using county and town trend data and supplement with local property management insights and incident histories to inform underwriting and tenant retention planning.
Regional employers within commuting distance support a steady workforce renter pool, with technology presence offering diversified employment beyond strictly local demand.
- IBM — technology (26.8 miles)
53 Lake Mills Rd is a 23-unit, 1980-vintage asset in a rural Cairo submarket where renter-occupied housing is modest but present. Neighborhood occupancy trends have improved in recent years and sit above the metro median, though performance remains below many areas nationally—suggesting stable operations are achievable with active leasing and retention. Elevated value-to-income levels indicate a higher-cost ownership environment that can sustain renter demand for well-maintained multifamily, according to CRE market data from WDSuite.
Relative to older local housing stock, the property’s vintage provides a competitive edge, with targeted capital planning around building systems and unit updates likely to drive rentability. Given limited nearby amenities, on-site quality and management execution will be key to maintaining occupancy and pricing power.
- 1980 vintage offers competitive positioning versus older neighborhood stock with focused modernization upside
- Occupancy above the metro median supports attainable stabilization with disciplined leasing strategy
- Elevated ownership costs (high value-to-income) can reinforce sustained renter demand
- Workforce demand supported by regional employers within commuting distance
- Risks: limited local amenities and below-national occupancy levels require proactive management and conservative underwriting