| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Good |
| Demographics | 32nd | Poor |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 156 Corliss Ave, Johnson City, NY, 13790, US |
| Region / Metro | Johnson City |
| Year of Construction | 1980 |
| Units | 70 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
156 Corliss Ave, Johnson City Multifamily Opportunity
Neighborhood data points to a deep renter base and daily-needs amenities that support steady leasing, according to WDSuite’s CRE market data. Competitive positioning will hinge on matching local affordability while leveraging location fundamentals.
This Inner Suburb neighborhood in Johnson City ranks 13 out of 111 metro neighborhoods (A-rated), indicating competitive positioning within the Binghamton market. Daily-needs access is a strength: grocery and pharmacy density trends score in the high national percentiles, which supports convenience-driven renter retention. Restaurants are also relatively dense versus U.S. benchmarks, while parks and cafes are limited nearby.
At the neighborhood level, the share of units that are renter-occupied is elevated, signaling a deep tenant pool for multifamily. By contrast, neighborhood occupancy has trailed stronger parts of the metro in recent periods, so operators should emphasize leasing execution and renewal management to sustain stability.
The 3-mile radius shows measured population growth historically with projections for further renter pool expansion, alongside increases in households through the next five years. Median contract rents in the 3-mile area have risen over the last five years and are projected to continue growing, while neighborhood rent-to-income ratios suggest some affordability pressure to monitor from a lease management standpoint.
Home values at the neighborhood level are lower than many U.S. markets, which can create some competition from entry-level ownership. However, this also allows multifamily to compete on value and convenience, especially where amenity access is strong. Given that the average neighborhood vintage skews older, a 1980 asset can compare favorably versus prewar stock; modernizations may still be needed, but the relative age can help with leasing versus much older alternatives.
Comparable safety metrics for this neighborhood are not available in the current WDSuite release. Investors typically benchmark neighborhood crime trends against metro and national baselines to inform OPEX planning for lighting, access control, and resident services; in the absence of published ranks or percentiles here, ongoing monitoring and on-the-ground diligence remain prudent.
This 70-unit, 1980-vintage property offers scale in a renter-heavy neighborhood with strong access to daily services. Based on CRE market data from WDSuite, the area’s deep base of renter-occupied housing supports demand, while the asset’s relative vintage versus much older neighborhood stock can aid competitive positioning with targeted upgrades. The 3-mile trade area shows population and household growth projections that point to a larger tenant base over the medium term, supporting occupancy stability if pricing remains aligned with local incomes.
Operators should plan for affordability-aware revenue management: neighborhood rent-to-income signals suggest measured pricing power balanced by retention strategy. Amenity access (groceries, pharmacies, restaurants) is a tailwind for leasing, though limited parks and cafe density and below-metro occupancy trends underscore the need for active marketing and renewal focus.
- Renter-heavy neighborhood supports depth of demand and renewal potential
- 1980 vintage can out-compete older local stock with focused renovations
- 3-mile growth projections expand the tenant base, aiding lease-up and occupancy
- Strong daily-needs amenity access (groceries/pharmacies/restaurants) supports retention
- Risk: neighborhood occupancy trends below stronger submarkets require active leasing and affordability-aware pricing