| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 29th | Fair |
| Demographics | 47th | Fair |
| Amenities | 32nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 264 Lower Stella Ireland Rd, Binghamton, NY, 13905, US |
| Region / Metro | Binghamton |
| Year of Construction | 1985 |
| Units | 27 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
264 Lower Stella Ireland Rd Binghamton 27-Unit Value-Add
Positioned in a suburban Binghamton neighborhood with stable occupancy and a broader 3-mile renter pool, this 1985 asset offers value-add potential amid steady renter demand, according to WDSuite’s CRE market data.
The immediate neighborhood rates B+ and is suburban in character, with amenities that skew practical over lifestyle. Grocery access is Top quartile among 111 metro neighborhoods, and parks are also above average, while cafes and pharmacies are limited. For investors, this mix supports day-to-day convenience for residents but suggests leasing strategies should emphasize functionality over nightlife-oriented appeal.
Neighborhood occupancy is stable and sits slightly below the metro median, indicating steady demand without overheating. Within the neighborhood, renter-occupied share is modest, yet the 3-mile radius shows a larger renter base, which broadens the prospect pool and can help support occupancy. Median contract rents in the neighborhood are moderate with multi-year growth, aligning with retention-focused pricing rather than aggressive premium positioning.
The property’s 1985 vintage is newer than the area’s older housing stock (average year 1946). That relative youth can be a competitive advantage versus prewar inventory, while still leaving room for targeted capital projects (systems upgrades and interiors) to drive rent and retention. Home values are lower relative to incomes in this submarket, which can create some competition from ownership; investors should balance value-add rents with lease management that prioritizes retention.
Demographics aggregated within a 3-mile radius indicate recent population and household growth with projections for further expansion by 2028, supporting a larger tenant base over time. This growth, combined with a broad income mix, points to consistent workforce housing demand that can underpin occupancy stability, based on CRE market data from WDSuite.
Comparable safety data for this neighborhood is not available in the current dataset. Investors typically benchmark neighborhood safety against the Binghamton metro and national context to gauge relative positioning and trend direction; follow-up validation with current municipal and third‑party sources is recommended when underwriting.
The renter base is supported primarily by regional employment, with proximity to telecommunications operations that can contribute to steady workforce housing demand.
- Frontier Communications — telecommunications (44.3 miles)
This 27-unit asset built in 1985 sits in a suburban Binghamton neighborhood with stable, slightly below-metro occupancy and day-to-day amenities that favor resident convenience. Relative to the area’s older housing stock, the vintage provides a competitive baseline, while targeted renovations and system updates offer value-add pathways. Within 3 miles, population and households have grown and are projected to expand further, supporting a larger tenant base and steady leasing, based on CRE market data from WDSuite.
Balanced rent levels, a broader 3-mile renter pool, and practical amenities point to durable workforce demand and potential for operational optimization. At the same time, a low value-to-income environment suggests some competition from homeownership, reinforcing the need for retention-minded rent strategies and capital planning that focuses on livability upgrades over pure luxury repositioning.
- 1985 vintage newer than neighborhood average, enabling targeted value-add while competing well against older stock.
- Stable neighborhood occupancy with broader 3-mile renter pool supports leasing continuity and retention.
- Practical amenity mix (strong grocery and parks) suits workforce housing and day-to-day resident needs.
- Forward demographic growth within 3 miles suggests a larger tenant base and supports long-term demand.
- Risk: relatively accessible ownership market and limited lifestyle amenities require disciplined pricing and retention strategy.