| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Best |
| Demographics | 56th | Good |
| Amenities | 38th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 504 W Main St, Endicott, NY, 13760, US |
| Region / Metro | Endicott |
| Year of Construction | 1975 |
| Units | 38 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
504 W Main St Endicott Multifamily Opportunity
Neighborhood occupancy near the mid-90s and a renter concentration around half of units point to a stable tenant base, according to WDSuite’s CRE market data.
The property sits in an Inner Suburb of the Binghamton, NY metro that is rated A and ranks in the top quartile among 111 metro neighborhoods. Local occupancy trends are solid (around the mid-90s), and median rents sit below national norms, supporting lease retention while limiting outsized pricing power. Home values are comparatively lower versus many U.S. neighborhoods, which can create some competition from ownership but also sustains demand for more accessible rental options.
Within a 3-mile radius, population and household counts have expanded in recent years with forecasts calling for further growth, indicating a larger tenant base over the medium term. Median rent-to-income levels remain manageable, which can support occupancy stability and steady renewals. This commercial real estate analysis aligns with broader metro dynamics, based on market trends summarized by WDSuite.
Daily convenience is a relative strength: grocery and restaurant density compares favorably within the metro, and pharmacies score in a high national percentile. Café and park density are thinner locally, so on-site community features or walkable retail nearby may enhance resident appeal. Average public school ratings are modestly above national norms and competitive within the metro, a supportive trait for workforce-oriented housing.
Neighborhood-level crime reporting for this location is limited in the current dataset, so investors typically benchmark safety using city and metro trends and property-specific history. A practical approach is to compare recent leasing performance and resident retention against nearby submarkets and to evaluate on-the-ground conditions during due diligence rather than relying on block-level precision.
Built in 1975, the asset is newer than much of the surrounding housing stock, which skews earlier vintage. That positioning can be attractive if paired with a targeted capital plan—modernizing interiors and common areas can enhance competitiveness against older nearby properties while managing systems typical of a mid-1970s build. According to WDSuite’s CRE market data, the neighborhood’s solid occupancy alongside manageable rent-to-income levels supports durable demand rather than transient lease-up spikes.
Investor takeaways center on steady renter demand (roughly half of housing units are renter-occupied locally), below-national rent levels that aid retention, and a 3-mile radius showing recent and projected population and household growth that should deepen the renter pool. Counterbalancing factors include attainable ownership options in the area and thinner lifestyle amenities like cafés and parks, which place more emphasis on property-led upgrades and resident services.
- Mid-1970s vintage offers clear value-add angles via interior and common-area updates
- Stable neighborhood occupancy and manageable rent-to-income metrics support retention
- 3-mile population and household growth points to a gradually expanding tenant base
- Grocery, restaurant, and pharmacy access provide daily convenience for residents
- Risk: more accessible ownership and limited café/park density may temper rent growth without upgrades