| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Best |
| Demographics | 56th | Good |
| Amenities | 38th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 427 River Ter, Endicott, NY, 13760, US |
| Region / Metro | Endicott |
| Year of Construction | 1975 |
| Units | 33 |
| Transaction Date | 2001-08-17 |
| Transaction Price | $725,000 |
| Buyer | RIVER TERRACE 32 LLC |
| Seller | BRODEL MANAGEMENT ASSOCIATES LLC |
427 River Ter Endicott Multifamily Value-Add Opportunity
Neighborhood occupancy trends run above national medians and renter demand is durable, according to WDSuite s CRE market data. This inner‑suburb location supports stable leasing while leaving room for operational upside through renovations informed by careful commercial real estate analysis.
The property sits in an Inner Suburb of the Binghamton, NY metro with an A neighborhood rating and a rank of 15 out of 111 metro neighborhoods placing it in the top quartile locally. According to CRE market data from WDSuite, the neighborhood s occupancy is above the national median, supporting income stability for multifamily assets.
Renter-occupied housing accounts for roughly half of local units and is in the upper decile nationally for renter concentration, indicating a deep tenant base and consistent demand for apartments. Household sizes skew small for the metro and rank very high nationally, which typically favors one- and two-bedroom layouts from a leasing perspective.
Local living essentials are accessible: grocery availability and restaurants are above national medians, and pharmacies rank in a very high national percentile. However, parks and cafes are sparse within the neighborhood, so on-site and nearby private amenities may play a larger role in resident satisfaction and retention.
Home values in the neighborhood are lower than many U.S. areas while rent-to-income levels indicate modest affordability pressure. For investors, this mix can support retention and steady collections but may temper near-term pricing power, as more accessible ownership options can compete with rentals in select segments.
Within a 3-mile radius, demographics show recent population and household growth with additional household expansion projected over the next five years. That larger renter pool supports occupancy stability and leasing velocity for well-managed assets in this submarket.
Comparable safety metrics for this neighborhood are not published in WDSuite for the current period. Investors typically benchmark neighborhood conditions against Binghamton metro averages and trend reports to assess relative risk and to calibrate operating assumptions such as retention and insurance planning.
WDSuite does not list verified nearby corporate anchors with distance data for this address at this time. Investors may wish to review metro employment nodes and commute patterns to gauge workforce housing demand and resident retention.
Built in 1975, the asset is newer than much of the surrounding housing stock, which skews pre‑1940. That relative vintage can be a competitive advantage against older properties while still warranting capital planning for systems and common-area upgrades to unlock value-add potential. Neighborhood fundamentals including above-median occupancy and a high share of renter-occupied units point to durable demand and steady leasing.
Within a 3-mile radius, recent and projected growth in households expands the prospective tenant base and supports long-term absorption. According to CRE market data from WDSuite, local amenity access is serviceable with strong pharmacy and solid grocery/restaurant presence, though limited parks and cafes suggest that on-site improvements can further drive retention.
- Above-median neighborhood occupancy supports income stability and leasing durability.
- 1975 vintage offers value-add upside while competing well versus older nearby stock.
- High renter concentration and smaller household sizes deepen demand for 1–2BR units.
- Serviceable amenity access (strong pharmacy, solid grocery/restaurant) supports resident convenience.
- Risks: more accessible ownership options can compete with rentals; limited parks/cafes and aging systems require focused capex and leasing strategy.