| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Best |
| Demographics | 49th | Good |
| Amenities | 22nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 421 Glendale Dr, Endicott, NY, 13760, US |
| Region / Metro | Endicott |
| Year of Construction | 1999 |
| Units | 42 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
421 Glendale Dr, Endicott NY Multifamily Investment
Stabilized renter demand in a suburban pocket of the Binghamton metro, with neighborhood occupancy trending firm and a tenant base supported by steady household growth, according to WDSuite’s CRE market data.
The property sits in a suburban neighborhood of the Binghamton, NY metro rated B+ and ranked 31 out of 111 locally, indicating performance that is competitive among Binghamton neighborhoods. Neighborhood occupancy registers 96.3% (ranked 26 of 111), placing it in the top quartile among metro peers and supporting near-term leasing stability for multifamily. Median contract rents in the neighborhood trail large-metro benchmarks, and a rent-to-income ratio near the mid-50s percentile nationally points to manageable affordability that can aid retention.
Renter-occupied housing accounts for 34.7% of neighborhood units, signaling a moderate renter concentration and a durable tenant base for a 42-unit asset. Within a 3-mile radius, population and households have grown in recent years and are projected to expand further, pointing to a larger tenant base and continued demand for rental units. Average household size in the neighborhood ranks 20 of 111 (high 88th percentile nationally), suggesting healthy depth for 1–2 bedroom formats.
Local amenities are mixed: grocery access and pharmacies rank above the metro median (national percentiles roughly 60–70), while cafes, restaurants, and parks are limited in the immediate neighborhood. School ratings average low versus national norms (around the 15th percentile), which may temper family-driven demand but can be offset by workforce-oriented tenancy and pragmatic pricing. Home values in the neighborhood sit well below national medians, which can introduce some competition from entry-level ownership; however, this also supports rental positioning for residents prioritizing flexibility and lower monthly outlays.
The submarket’s construction profile skews older (average 1966), while the subject’s 1999 vintage is newer than much of the surrounding stock—helping it compete for renters seeking more contemporary layouts, even if selective system upgrades and light renovations may be prudent. Based on multifamily property research from WDSuite, these fundamentals align with steady leasing performance rather than outsized rent growth, favoring disciplined asset management and value-add execution over time.
Metro-comparable crime metrics for this neighborhood are not available in the current WDSuite release, so no precise safety ranking is provided. Investors should interpret safety through broader Binghamton-area trends and on-the-ground diligence, using consistent timeframes and like-for-like comparisons rather than block-level anecdotes.
As with any suburban location, proximity to services and observed conditions around key corridors can influence resident perception and retention. Pair site visits with regional statistics to gauge whether the area tracks above or below the metro average on safety.
Built in 1999, the 42-unit asset benefits from a vintage that is newer than much of the surrounding housing stock, supporting competitive positioning versus older properties while leaving room for targeted modernization. Neighborhood occupancy is strong relative to the metro, and a moderate renter-occupied share indicates depth for workforce-oriented demand. According to commercial real estate analysis from WDSuite, rents sit at levels that support retention while demographics within a 3-mile radius point to a growing renter pool, reinforcing baseline leasing stability.
Counterbalancing factors include limited lifestyle amenities in the immediate neighborhood and below-average school ratings, as well as more accessible ownership costs that can create some competition for renters. These dynamics suggest a focus on operational execution—unit turns, light upgrades, and service quality—to sustain occupancy and pricing power.
- 1999 vintage offers competitive layouts versus older neighborhood stock, with selective upgrades for value-add
- Neighborhood occupancy in the top quartile of metro peers supports leasing durability
- Moderate renter-occupied share and 3-mile household growth expand the tenant base
- Rents positioned for retention, aiding steady cash flow management
- Risks: amenity-light area, low school ratings, and accessible ownership options may pressure absorption and renewal rates