| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Good |
| Demographics | 59th | Good |
| Amenities | 42nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2720 Watson Blvd, Endicott, NY, 13760, US |
| Region / Metro | Endicott |
| Year of Construction | 1975 |
| Units | 44 |
| Transaction Date | 2003-02-01 |
| Transaction Price | $1,950,000 |
| Buyer | YORKTOWNE APARTMENTS #6 LLC |
| Seller | WATSON BOULEVARD LLC |
2720 Watson Blvd Endicott Multifamily Investment Opportunity
Neighborhood metrics point to a durable renter base and steady occupancy at the neighborhood level, according to WDSuite’s CRE market data, supporting screening for mid-size assets in Broome County.
Located in an Inner Suburb of the Binghamton, NY metro, the neighborhood carries an A rating and ranks 10th among 111 metro neighborhoods, indicating competitive fundamentals within the region. Dining access is a relative strength: restaurants and cafes rank in the top tier locally, signaling convenient daily amenities, while parks, pharmacies, and childcare options are limited in this dataset.
For multifamily demand, the share of renter-occupied housing is above the metro median (top-quartile locally), implying a deeper tenant pool and support for leasing velocity. Neighborhood occupancy is around metro norms and has trended modestly higher over five years, which can aid cash-flow stability across cycles. Median contract rents in the neighborhood sit on the lower side for the region, and the rent-to-income ratio suggests manageable affordability—factors that can support retention and consistent renewals.
Within a 3-mile radius, population and household counts have grown and are projected to continue expanding over the next five years, pointing to a larger tenant base and incremental support for occupancy. Household incomes have been rising in the area, which can underpin rent collections and measured rent growth, though results vary by asset quality and management.
The property’s 1975 vintage is newer than the neighborhood’s average housing stock (mid-1950s). That positioning can be competitively advantageous versus older comparables; however, investors should plan for ongoing system modernization or targeted value-add to meet current renter expectations. Home values in the neighborhood are relatively accessible versus national benchmarks; this may introduce some competition from ownership alternatives, which places a premium on unit finishes, management, and amenities to sustain pricing power.
Neighborhood-level safety metrics are not available in this release for precise comparative ranking. Investors typically evaluate safety using multiple sources and trend views at the neighborhood and metro level; where data is available, comparing neighborhood standing versus the broader Binghamton region can help contextualize leasing risk and retention dynamics.
This 44-unit, 1975-vintage asset benefits from a renter-leaning neighborhood with steady occupancy and convenient dining-oriented amenities. According to CRE market data from WDSuite, the area’s renter concentration sits in the top tier locally, supporting depth of demand, while neighborhood occupancy trends have been stable. The asset’s vintage is newer than much of the surrounding housing stock, offering a platform for targeted renovations to elevate competitiveness and capture measured rent gains.
Within a 3-mile radius, population and households have expanded and are projected to continue growing, pointing to a larger tenant base that supports occupancy stability. At the same time, relatively accessible for-sale housing implies some competition, making execution—unit quality, management, and expense control—central to maintaining pricing power and lease retention.
- Renter-occupied share is above metro median, supporting a deeper tenant pool and leasing stability.
- Neighborhood occupancy near metro norms with modest improvement over five years aids cash-flow consistency.
- 1975 vintage is newer than local average, enabling targeted value-add to enhance competitiveness.
- 3-mile area shows population and household growth, supporting long-run demand and retention.
- Risk: Relatively accessible ownership options may compete with rentals, requiring disciplined operations to sustain pricing power.