| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 32nd | Fair |
| Demographics | 15th | Poor |
| Amenities | 65th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 221 Madison Ave, Endicott, NY, 13760, US |
| Region / Metro | Endicott |
| Year of Construction | 1985 |
| Units | 38 |
| Transaction Date | 2006-12-05 |
| Transaction Price | $80,000 |
| Buyer | LOJO PROPERTIES LLC |
| Seller | DAP PROPERTIES LLC |
221 Madison Ave Endicott Multifamily Investment Opportunity
The surrounding neighborhood shows a durable renter base and everyday convenience, according to WDSuite’s CRE market data, which can support leasing velocity for a 38-unit asset. Current conditions favor steady demand management over aggressive rent pushes.
Livability fundamentals lean toward daily-needs convenience. Neighborhood data (not the property) indicate strong access to essentials, with grocery and restaurant density ranking near the top among 111 Binghamton metro neighborhoods and in the 98th percentile nationally. Childcare and pharmacy access also test high relative to both metro and national peers, while parks and cafes are limited.
From an investment lens, the neighborhood’s housing stock skews older on average, while this property was built in 1985. That newer vintage versus nearby mid-century stock can be competitively positioned if common areas, systems, and finishes are kept current; modernization plans may still be warranted to meet renter expectations.
Tenure patterns at the neighborhood level show a majority of housing units are renter-occupied, a sign of depth in the tenant base and potential demand stability for multifamily. However, neighborhood occupancy levels trail many Binghamton neighborhoods despite improving over the past five years, suggesting operators should prioritize retention and thoughtful lease management.
Within a 3-mile radius, population and household counts have grown in recent years and are projected to continue rising by 2028, pointing to renter pool expansion. Median home values in the neighborhood are comparatively low versus national norms, which can increase competition from ownership options; on the other hand, neighborhood rent-to-income readings imply modest affordability pressure that can aid lease renewal rates but may temper near-term pricing power.
Comparable, property-level crime statistics are not available in the provided dataset. Investors commonly review municipal data, police reports, and third-party indices to benchmark the neighborhood’s safety trend against the broader Binghamton metro before underwriting. Absent quantified data here, prudent diligence would focus on multi-year trend direction, not a single-year snapshot.
Built in 1985, the asset is newer than much of the surrounding housing stock, offering a competitive edge versus older properties if capital plans address modernization and operating efficiency. The neighborhood’s renter concentration and strong everyday-amenity access indicate resilient demand, while 3-mile demographic growth supports a larger tenant base and occupancy stability over time. Based on commercial real estate analysis from WDSuite, neighborhood occupancy has improved but still trails many Binghamton areas, pointing to a strategy centered on retention and targeted upgrades rather than outsized rent lifts.
Ownership costs nearby are comparatively low in national context, which may create competition with entry-level ownership; conversely, rent-to-income readings suggest manageable affordability pressure that can support renewals. Overall, the thesis favors disciplined operations and selective value-add to capture demand from a stable renter pool while acknowledging pricing-power limits.
- 1985 vintage offers relative competitiveness versus older neighborhood stock, with renovation upside
- Renter-occupied share at the neighborhood level signals depth of tenant demand
- Strong access to groceries, restaurants, childcare, and pharmacies supports daily convenience and retention
- 3-mile population and household growth point to renter pool expansion and occupancy support
- Risk: neighborhood occupancy trails many Binghamton peers; low local ownership costs can compete with rentals, tempering pricing power