| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Best |
| Demographics | 49th | Good |
| Amenities | 22nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 449 Glendale Dr, Endicott, NY, 13760, US |
| Region / Metro | Endicott |
| Year of Construction | 1990 |
| Units | 28 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
449 Glendale Dr, Endicott Multifamily Investment
Stabilized renter demand in the surrounding neighborhood and a balanced cost-to-income profile point to steady leasing and retention, according to WDSuite s CRE market data. The submarket s occupancy has held firm while rents remain accessible relative to area incomes.
The property s 1990 vintage is newer than the neighborhood s average construction year of 1966, positioning it competitively versus older local stock while still warranting typical capital planning for aging systems. Neighborhood occupancy is strong and ranks 26th of 111 Binghamton metro neighborhoods, placing it in the top quartile locally a constructive backdrop for maintaining leased units and managing turnover.
Within a 3-mile radius, recent population growth and a 6.8% increase in households expand the tenant base, and forecasts indicate further household gains by 2028, supporting demand for rental units. Renter-occupied share in the immediate neighborhood is roughly one-third, while the broader 3-mile area shows about two-fifths renter concentration, suggesting a meaningful pool of renters for small to mid-size multifamily assets.
Income and cost context are supportive for occupancy stability. Neighborhood rent-to-income of about 0.14 indicates limited affordability pressure for many renters, and median home values are relatively accessible in a regional context, which can introduce some competition with ownership. However, median contract rents near the mid-$800s keep units attainable, which can bolster lease retention in workforce-oriented buildings.
Local amenity access is mixed. Grocery and pharmacy access score above the metro median (ranks 29 and 17 of 111, respectively), while cafes, restaurants, and parks rank at the bottom of the metro distribution. Average school ratings sit in a lower national percentile, which may matter for family-oriented demand; investors should weigh this alongside the area s strong occupancy trend and a neighborhood rating of B+ that is competitive among Binghamton neighborhoods (ranked 31 of 111).
Comparable safety benchmarks for this neighborhood are not available in WDSuite s current dataset. Investors typically contextualize safety by comparing neighborhood trends to metro and national baselines; in the absence of verified figures here, it s prudent to review municipal reports and owner/manager records for on-the-ground clarity.
This 28-unit asset built in 1990 offers relative competitive positioning versus older neighborhood stock while benefiting from top-quartile local occupancy. Within a 3-mile radius, population growth and a rising household count point to a larger tenant base over the medium term, supporting occupancy stability and steady leasing. According to commercial real estate analysis from WDSuite, neighborhood rent-to-income levels near 0.14 suggest modest affordability pressure, aiding retention even as owners pursue measured rent increases.
The ownership landscape shows relatively accessible home values for the region, which can create episodic competition with entry-level ownership. At the same time, attainable median rents and a meaningful renter-occupied share across the 3-mile area reinforce a durable renter pool for workforce housing. Investors should plan for standard system upgrades associated with a 1990 vintage while leveraging operational upside from solid occupancy fundamentals.
- Newer-than-area vintage (1990) offers competitive position vs. older stock with manageable modernization needs
- Top-quartile neighborhood occupancy among 111 metro areas supports leasing stability
- Expanding 3-mile renter pool and household growth underpin demand for rental units
- Balanced rent-to-income profile supports retention and measured pricing power
- Risks: limited nearby lifestyle amenities and lower average school ratings may temper family-focused demand