| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 34th | Good |
| Demographics | 34th | Poor |
| Amenities | 27th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 50 E Clapham St, Binghamton, NY, 13904, US |
| Region / Metro | Binghamton |
| Year of Construction | 2007 |
| Units | 33 |
| Transaction Date | 2007-05-24 |
| Transaction Price | $100,000 |
| Buyer | EAST HILLS SENIOR HOUSING DEVELOPMENT FUND CO |
| Seller | RENT TO OWN HOMES OF |
50 E Clapham St Binghamton Multifamily Opportunity
Neighborhood occupancy trends point to steady renter demand for this 2007-vintage, 33-unit asset, according to WDSuite’s CRE market data. The location’s stability supports predictable operations while allowing room for value-focused execution.
The property sits in a suburban pocket of Binghamton where neighborhood occupancy has been resilient and above the national median, indicating demand support for stabilized multifamily. Within the neighborhood, an estimated 28.7% of housing units are renter-occupied, suggesting a modest but reliable tenant base; across the broader 3-mile radius, renter concentration is higher, expanding the potential leasing pool.
Daily needs are serviceable: restaurant density ranks 10th among 111 Binghamton neighborhoods (top quartile locally and strong at the 85th percentile nationally), and grocery access also competes well metro-wide (ranked 18th of 111). Cafés, parks, and pharmacies are limited in this immediate area, so residents may rely on nearby corridors for select amenities.
Home values are relatively low for the neighborhood, creating a more accessible ownership market compared with many U.S. areas. For investors, this can introduce some competition with entry-level ownership, but it also supports price-sensitive rental demand where well-managed operations and thoughtful renovations can sustain retention and occupancy.
Demographic indicators aggregated within a 3-mile radius show a stable population and a projected increase in households over the next five years, which can translate into a larger tenant base and support for occupancy stability. School ratings in the immediate neighborhood skew lower versus national norms, aligning the asset more with workforce housing than top school-driven demand. Based on commercial real estate analysis from WDSuite, rent levels remain manageable relative to incomes, which can aid lease management and reduce turnover pressure.
Neighborhood-level crime metrics are not available in this dataset for precise benchmarking. Investors should review city and metro trend reports for Binghamton to contextualize safety and assess property- and block-level considerations during diligence (lighting, access control, and management practices), using a consistent comparison set across nearby neighborhoods.
Regional employment anchors within commuting range contribute to a diversified renter base, with telecom operations providing steady payrolls that can support leasing and retention.
- Frontier Communications — telecommunications services (43.6 miles)
Built in 2007, the property is newer than much of the surrounding housing stock, which tends to be early-20th-century. That vintage positions the asset competitively versus older neighborhood comparables, while still warranting capital planning for modernization of building systems and common areas. According to CRE market data from WDSuite, neighborhood occupancy trends are stable and above national medians, and a higher renter concentration in the 3-mile radius broadens the tenant pipeline.
Local home values remain comparatively low, so ownership can compete at the margin; however, manageable rent-to-income dynamics and steady workforce demand can support retention for a well-operated, value-focused strategy. With modest amenity depth on the immediate blocks, targeted in-building conveniences and professional management can differentiate the asset and sustain leasing.
- 2007 construction provides a competitive edge versus older neighborhood stock, with clear modernization opportunities.
- Stable neighborhood occupancy and a larger 3-mile renter pool support leasing and retention.
- Manageable rent-to-income dynamics can aid pricing discipline and limit turnover risk.
- Dining and grocery access nearby enhance livability, despite limited cafés, parks, and pharmacies in the immediate blocks.
- Risks: competition from entry-level ownership and uneven amenity depth; address via targeted renovations and hands-on management.