| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Best |
| Demographics | 56th | Good |
| Amenities | 38th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 319 Exchange Ave, Endicott, NY, 13760, US |
| Region / Metro | Endicott |
| Year of Construction | 1980 |
| Units | 20 |
| Transaction Date | 2006-05-08 |
| Transaction Price | $550,000 |
| Buyer | WAYNE MANAGEMENT LLC |
| Seller | PALOMBARO PROPERTIES LLC |
319 Exchange Ave, Endicott NY Multifamily Investment
Neighborhood occupancy trends point to steady renter demand and above-median stability for the area, according to WDSuite’s CRE market data. Metrics cited below reflect neighborhood conditions rather than the performance of 319 Exchange Ave itself.
The property sits in an Inner Suburb of the Binghamton, NY metro that is competitive among Binghamton neighborhoods (ranked 15 of 111, neighborhood rating A). Neighborhood occupancy is 93.8% and has edged higher over five years, suggesting a relatively steady leasing backdrop at the submarket level rather than property-specific performance.
Vintage positioning is a differentiator: the average neighborhood construction year is 1939, while the asset was built in 1980. This newer vintage versus much of the local stock improves competitive standing, though investors should still plan for system updates common to 1980s assets and consider targeted modernization to support retention and rentability.
Local livability is serviceable with select strengths. Grocery access is solid for the metro (rank 26 of 111; national percentile ~66) and restaurants are comparatively dense (rank 18 of 111; national percentile ~68). Pharmacies index strong (national ~91st percentile), while parks and cafes are sparse in the immediate neighborhood—factors to consider for tenant appeal and marketing.
Renter concentration in the neighborhood is 50.2% of housing units, indicating a balanced base of renter-occupied units that supports multifamily demand without over-reliance on transient tenancy. Within a 3-mile radius, the population has grown in recent years and households are projected to expand further by 2028, pointing to a larger tenant base and support for occupancy stability.
Affordability dynamics are favorable for lease management. Neighborhood median contract rents are modest and the rent-to-income ratio is 0.17, reducing affordability pressure and potentially aiding lease retention. Median home values are comparatively low for the region, which can introduce some competition from ownership; however, a high-cost ownership market is not the driver here, so value proposition will hinge on product quality, convenience, and management.
Schools in the area average about 3.0 out of 5 (rank 9 of 111; above many metro peers and around the 61st percentile nationally). These education dynamics may support longer stays among certain renter cohorts, though the effect varies by asset positioning and unit mix.
Comparable crime data for this neighborhood is not available in WDSuite for this publishing cycle. Investors typically benchmark neighborhood safety against metro and national trends to gauge resident retention and leasing risk; in the absence of ranked data, standard underwriting should incorporate local law enforcement reports, owner/manager incident logs, and insurer guidance for a current view.
This 20-unit 1980-vintage property benefits from a neighborhood with above-median occupancy and a balanced renter base, supporting stable leasing fundamentals. The asset’s vintage is newer than much of the surrounding housing stock, offering relative competitiveness and potential to capture demand with targeted renovations and operational execution.
Within a 3-mile radius, recent population gains and projected household growth point to a larger tenant pool, reinforcing demand for well-managed workforce housing. According to CRE market data from WDSuite, the neighborhood’s occupancy sits above the metro median, and modest rent-to-income levels suggest manageable affordability pressure—factors that can support retention and cash flow consistency when paired with disciplined expense control.
- Above-median neighborhood occupancy supports leasing stability at the area level.
- 1980 vintage out-positions older local stock; targeted upgrades can unlock value.
- Expanding 3-mile household base indicates a growing tenant pool and demand depth.
- Affordability metrics (including modest rent-to-income) aid lease retention and pricing flexibility.
- Risks: limited nearby parks/cafes and comparatively low home values may heighten competition from ownership and require sharper product differentiation.