| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Good |
| Demographics | 42nd | Fair |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 104 Victoria Dr, Binghamton, NY, 13904, US |
| Region / Metro | Binghamton |
| Year of Construction | 2000 |
| Units | 33 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
104 Victoria Dr, Binghamton NY — 33-Unit 2000 Vintage Opportunity
Neighborhood occupancy is measured at the area level and trends in the mid-90s, suggesting steady renter demand in a largely owner-occupied pocket, according to WDSuite’s CRE market data. Positioning centers on durable tenancy and affordability headroom rather than amenity-driven premiums.
This rural Binghamton neighborhood skews owner-heavy with a relatively small renter-occupied share, indicating a thinner but more stable tenant base for multifamily. Neighborhood occupancy is reported at the neighborhood level and sits in a healthy range, helping underpin collections and renewal potential even without dense amenity clusters.
The property’s 2000 construction is newer than the neighborhood’s average vintage (1960), which can reduce near-term capital exposure and support competitive positioning versus older stock. Investors may still plan for modernization cycles, but the age profile is a relative advantage in tenant appeal and ongoing maintenance.
Within a 3-mile radius, recent data shows slight population contraction but an increase in total households alongside smaller average household size. That combination typically expands the pool of potential renters and supports occupancy stability for well-managed units. Forward-looking data points to additional household growth through 2028, implying a larger tenant base over time if trends hold.
Local incomes test well: the neighborhood sits above the metro median for household income and in a higher national percentile, which can bolster rent collections. At the same time, a low rent-to-income profile suggests affordability pressure is relatively light, creating measured room for rent optimization. However, more accessible ownership costs in the metro context can introduce competition with for-sale options, so operators should calibrate pricing and retention strategy accordingly.
Neighborhood-level crime statistics were not available in WDSuite’s dataset for this location, so we avoid block-level claims. Investors typically benchmark safety by comparing neighborhood trends to metro and national baselines; in the absence of reported figures here, underwriting should rely on standard diligence such as local comparables, law enforcement summaries, and insurance feedback.
The broader employment base is diversified at the regional scale, supporting commuter demand into Binghamton. Nearby access to corporate offices can aid leasing stability for workforce renters, including the company listed below.
- Frontier Communications — telecommunications (42.9 miles)
Built in 2000 with 33 units, the asset offers a newer-vintage profile relative to much of the neighborhood’s housing stock, positioning it competitively against older comparables. The surrounding area is primarily owner-occupied, which generally concentrates the renter pool but can also stabilize tenancy. According to CRE market data from WDSuite, neighborhood occupancy is in a healthy range, and 3-mile household counts have been rising as average household size declines—both supportive of multifamily demand and renewal rates.
Affordability remains a key lever: incomes rank well within the metro and rent-to-income indicators suggest capacity for measured rent growth, while more accessible ownership costs in the region argue for disciplined pricing and resident retention strategies. With large average unit sizes that can capture households seeking space, the property is positioned to attract longer-stay tenants, provided operators balance rent optimization with local ownership competition and limited amenity density.
- Newer 2000 vintage versus older neighborhood stock supports competitiveness and moderates near-term CapEx.
- Neighborhood-level occupancy strength and rising 3-mile household counts support leasing stability.
- Favorable rent-to-income dynamics provide room for disciplined rent optimization and retention.
- Large average unit sizes can capture demand from space-seeking households and support longer tenures.
- Risks: owner-heavy market and modest local amenity density require conservative underwriting and a focus on resident experience.