| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 34th | Good |
| Demographics | 53rd | Good |
| Amenities | 39th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9 Kattelville Rd, Binghamton, NY, 13901, US |
| Region / Metro | Binghamton |
| Year of Construction | 1984 |
| Units | 32 |
| Transaction Date | 2002-05-02 |
| Transaction Price | $502,280 |
| Buyer | MBW REALTY LLC |
| Seller | PMJ REAL ESTATE |
9 Kattelville Rd Binghamton 32-Unit Multifamily
Neighborhood occupancy has remained resilient and rents sit at modest levels, supporting retention and measured pricing power according to WDSuite’s CRE market data. This location favors stable, needs-based renter demand rather than luxury positioning.
The property sits in a rural pocket of the Binghamton, NY metro with an A- neighborhood rating and a Top quartile among 111 metro neighborhoods overall rank, per WDSuite. Neighborhood occupancy is 94.7% (neighborhood-level, not the property), indicating steady absorption and limited churn relative to broader U.S. trends.
Renter costs are comparatively manageable here: median contract rents are modest and the rent-to-income ratio ranks in a high national percentile, which can support lease retention and reduce turnover risk. At the same time, a lower renter-occupied share in the immediate area points to an ownership-leaning submarket, so leasing velocity may rely on value and convenience over discretionary upgrades.
Within a 3-mile radius, WDSuite’s data indicates recent population and household counts trended down, but forward projections show slight population growth and a notable increase in households alongside smaller average household sizes. For multifamily, that mix suggests a gradual renter pool expansion and supports occupancy stability as more, smaller households seek flexible housing options.
Amenities are mixed. Everyday retail access is competitive among Binghamton neighborhoods (grocery and pharmacy density ranks better than the metro median), while lifestyle venues such as cafes and parks are comparatively sparse. Average school ratings sit on the lower side locally, which investors should weigh when targeting family renter segments. Overall, the area reads as practical, commuter-oriented housing stock with stable fundamentals rather than amenity-driven demand.
Neighborhood-level crime metrics are not available in WDSuite for this location. Investors typically benchmark safety by comparing neighborhood trends to the broader Binghamton metro and to peer rural submarkets, and by reviewing multi-year patterns rather than single-period snapshots.
The employment base serving this submarket is diversified at the regional level, with commuting patterns extending to larger corporate nodes. Notable employer within commuting distance includes Frontier Communications.
- Frontier Communications — telecommunications (40.3 miles)
Built in 1984, this 32-unit asset is newer than much of the surrounding housing stock in the Binghamton metro, which skews older. That positioning can reduce near-term capital intensity versus older vintage comparables, while leaving room for targeted upgrades to kitchens, baths, and common areas to enhance rentability. Neighborhood occupancy remains solid and rents are modest relative to incomes, which, according to CRE market data from WDSuite, supports retention and measured pricing power rather than aggressive lease-ups.
The 3-mile demographic outlook points to slightly higher population ahead and a meaningful increase in households alongside smaller household sizes—conditions that typically broaden the tenant base for smaller-format units. Amenities tilt practical (grocers, pharmacies) rather than lifestyle-driven, and school ratings are lower, so demand is likely anchored in workforce and value-focused segments. Key risks include a thinner renter-occupied share locally and limited nearby lifestyle amenities, which place a premium on competitive pricing and reliable operations.
- 1984 vintage is competitive versus older local stock, with targeted value-add potential
- Stable neighborhood occupancy and modest rents support retention and steady cash flow
- 3-mile outlook shows more households and smaller sizes, aiding renter pool expansion
- Practical amenity mix (grocery, pharmacy) supports day-to-day convenience
- Risks: ownership-leaning area, limited lifestyle amenities, and lower school ratings may temper lease-up velocity