| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Best |
| Demographics | 25th | Poor |
| Amenities | 27th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11 Arthur St, Binghamton, NY, 13905, US |
| Region / Metro | Binghamton |
| Year of Construction | 1975 |
| Units | 39 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
11 Arthur St, Binghamton NY — 39-Unit Urban-Core Multifamily
Positioned in Binghamton’s urban core, the property’s 1975 vintage offers competitive positioning versus older local stock while tapping a renter-heavy neighborhood; according to WDSuite’s CRE market data, neighborhood occupancy has been improving, pointing to potential for stable leasing with disciplined operations.
Livability signals point to everyday convenience more than lifestyle flair. Neighborhood amenities are competitive among Binghamton neighborhoods (31 of 111), with groceries especially well represented — a top-quartile presence nationally — while parks, cafes, and childcare are limited. Average school ratings trend below national norms, a note for family-oriented leasing strategies.
For multifamily fundamentals, neighborhood occupancy is measured at the neighborhood level, not the property; it sits below national norms but has trended upward in recent years, suggesting gradual stabilization. Renter-occupied housing accounts for a large share of local units (61.2%), indicating a deeper tenant base and resilient demand for apartments when managed with appropriate pricing and retention tactics.
Within a 3-mile radius, demographics show modest population growth and an increase in households, with projections through 2028 pointing to a larger tenant base. A meaningful share of adults fall in the 18–34 range, which typically supports apartment demand; these figures are aggregated within a 3-mile radius and can underpin leasing velocity during turns and renewals.
On affordability and positioning, elevated home values relative to incomes in the neighborhood (high value-to-income ratio) can reinforce reliance on rental housing, favoring tenant retention when paired with pragmatic rent strategies. At the same time, a high rent-to-income ratio signals affordability pressure for some renters — an operational consideration for renewals and concessions. Notably, the neighborhood’s NOI-per-unit metrics rank near the top of the metro, according to CRE market data from WDSuite, reflecting potential for efficient operations where expense control and turnover management are strong.
Vintage matters: built in 1975, the property is newer than the neighborhood’s average construction year (1931). That relative youth can be a competitive edge against older local inventory, though investors should plan for ongoing system updates and selective renovations to meet contemporary renter expectations.
Safety indicators specific to this neighborhood were not available in WDSuite’s latest release for comparative ranking. Investors typically compare neighborhood-level trends against metro and national baselines and supplement with third-party sources and local insights to evaluate security measures, insurance assumptions, and operational practices. Use a multi-year, neighborhood-level view rather than block-by-block anecdotes when underwriting.
11 Arthur St offers scale at 39 units with a 1975 vintage that competes well against older neighborhood stock. The surrounding area is renter-heavy and shows improving neighborhood occupancy (neighborhood-level metric, not property-specific), while 3-mile population and household growth trends point to a gradually expanding tenant base. Based on commercial real estate analysis from WDSuite, local grocery access is strong and homeownership remains relatively costly versus incomes, both of which support sustained multifamily demand.
Underwriting should account for affordability pressure indicated by a high rent-to-income ratio and below-average neighborhood occupancy, balancing rent growth with renewal retention and expense control. The asset’s vintage suggests room for targeted upgrades and systems modernization to enhance competitiveness and support durable NOI.
- Renter-occupied housing concentration supports a deeper tenant base and leasing resiliency.
- 1975 construction is newer than much of the local stock, with potential value-add via selective renovations.
- 3-mile demographics indicate population and household growth through 2028, supporting demand stability.
- Elevated ownership costs relative to income reinforce rental housing reliance and retention potential.
- Risks: below-average neighborhood occupancy and renter affordability pressure call for conservative leasing and renewal strategies.