| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Good |
| Demographics | 59th | Good |
| Amenities | 42nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2700 Watson Blvd, Endicott, NY, 13760, US |
| Region / Metro | Endicott |
| Year of Construction | 1975 |
| Units | 44 |
| Transaction Date | 2007-03-13 |
| Transaction Price | $970,134 |
| Buyer | YORKTOWNE APARTMENTS #7, LLC |
| Seller | WATSON BOULEVARD LLC |
2700 Watson Blvd Endicott Multifamily Investment
Positioned in an Inner Suburb of Binghamton, this 44-unit asset benefits from steady renter demand and amenity access, according to WDSuite’s CRE market data. A balanced tenant base and near-90% neighborhood occupancy support durable cash flow with operational upside.
The property sits in an Inner Suburb neighborhood that ranks 10 out of 111 in the Binghamton metro, placing it in the top quartile among metro neighborhoods. Dining and café density is competitive among Binghamton neighborhoods, helping with day-to-day convenience that can support leasing and retention.
Neighborhood occupancy is near the high-80s to around 90%, and the share of renter-occupied housing is in the low-40% range, indicating a meaningful renter concentration and a stable tenant base for multifamily investors. Median rents in the area remain modest relative to incomes, a profile that can support lease renewal rates and steady absorption when units turn.
Within a 3-mile radius, recent population growth and an increase in households point to a larger tenant base; households are projected to expand further through 2028, supporting occupancy stability and leasing velocity. Household income measures in the 3-mile area have also improved over the past five years, which can underpin rent collections and measured rent growth.
Home values in the immediate neighborhood trend lower than many national peers, which can introduce some competition from entry-level ownership. For multifamily owners, this typically means focusing on value, convenience, and professional management to sustain pricing power and reduce turnover. Based on commercial real estate analysis from WDSuite, the local amenity mix and renter concentration help offset this by reinforcing ongoing demand for well-managed apartments.
Comparable neighborhood safety data was not available in this release. Investors typically benchmark block-to-metro trends and historical patterns to gauge operating risk, supplementing with on-the-ground diligence and resident feedback for a complete view.
Built in 1975, the asset is newer than much of the surrounding housing stock, providing a relative competitive edge versus older inventory while still offering potential value-add through targeted system upgrades and contemporary finishes. Neighborhood fundamentals show steady renter demand with occupancy near 90% and a renter-occupied share in the low-40% range, supporting cash flow stability.
Within 3 miles, recent population growth and a projected increase in households suggest a growing renter pool that can aid lease-up and renewals. According to CRE market data from WDSuite, local amenity access is competitive within the metro, which helps sustain demand, while relatively accessible homeownership options argue for disciplined pricing and resident retention strategies.
- 1975 vintage offers value-add and modernization potential versus older neighborhood stock
- Near-90% neighborhood occupancy supports income durability and leasing momentum
- 3-mile growth in population and households expands the tenant base, aiding renewals
- Competitive metro-level amenity access supports renter appeal and retention
- Risk: lower local home values can create ownership competition—requires focus on service and value to sustain pricing