| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Best |
| Demographics | 59th | Good |
| Amenities | 65th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 512 Reynolds Rd, Johnson City, NY, 13790, US |
| Region / Metro | Johnson City |
| Year of Construction | 1978 |
| Units | 90 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
512 Reynolds Rd, Johnson City NY Multifamily Investment
Positioned in an inner-suburban pocket of the Binghamton metro with competitive occupancy and a deep renter base, this asset benefits from steady neighborhood fundamentals, according to WDSuite’s CRE market data.
The property sits in an Inner Suburb neighborhood rated A+ and ranked 1 out of 111 across the Binghamton, NY metro, indicating strong overall positioning versus local peers. Neighborhood occupancy runs competitive among Binghamton neighborhoods (rank 37 of 111), supporting income stability for multifamily operators. Renter-occupied housing accounts for a high share of units locally (top decile in the metro by rank), which points to a sizable tenant base and consistent leasing velocity.
Local amenity access favors daily-life convenience: cafes and parks score in the top quartile nationally, while restaurants and grocery access are above average. Pharmacy access is limited, which may slightly reduce errand convenience for some residents. Average school ratings trail national norms, a factor to weigh for family-oriented demand, yet the neighborhood’s renter concentration and amenity mix align with workforce and single-household appeal.
Within a 3-mile radius, recent trends show households increasing even as population was roughly flat, implying smaller household sizes and a gradual shift toward more one- and two-person households. Forward-looking data points to growth in households and incomes over the next five years, suggesting a larger tenant base and support for occupancy stability and measured rent growth. Median contract rents in the neighborhood have risen over the last five years while the rent-to-income ratio remains moderate, which can aid retention and reduce turnover risk.
Home values in the area sit below national medians, creating a more accessible ownership backdrop compared to pricier markets. For investors, that can introduce some competition with entry-level ownership; however, the neighborhood’s high renter-occupied share and stable occupancy patterns continue to underpin multifamily demand. The local housing stock skews older than the metro average, which can make relatively newer assets more competitive on finishes and systems.
Standardized neighborhood crime benchmarking is not available in WDSuite for this specific location at this time. Investors commonly contextualize safety by comparing city and county trend data and conducting property- and block-level diligence (e.g., management interviews, incident logs) to align underwriting with local operating realities.
Built in 1978, this 90-unit asset is newer than much of the surrounding housing stock, offering relative competitiveness while still leaving room for targeted modernization as systems age. The neighborhood ranks at the top of the Binghamton metro and maintains competitive occupancy with a high renter-occupied share—factors that support leasing durability and income stability through cycles, based on CRE market data from WDSuite.
Within a 3-mile radius, households are up and are projected to continue growing alongside rising incomes, indicating a gradually expanding tenant base. Rents have increased from a low starting point but remain balanced relative to incomes, which can help sustain retention while allowing for disciplined, operations-led rent improvements. Lower home values nearby can create some competition with ownership, but multifamily demand is reinforced by the area’s renter concentration and convenience amenities.
- Competitive neighborhood standing (ranked 1 of 111 in the Binghamton metro) supports demand depth and occupancy stability.
- 1978 vintage is newer than the local average, offering relative positioning with potential value-add through selective modernization.
- High renter-occupied share and growing households within 3 miles expand the tenant pool and support leasing performance.
- Rent-to-income levels suggest manageable affordability pressures, aiding retention and measured pricing power.
- Risk: Accessible ownership options in the area can compete with entry-level renters; underwriting should reflect conservative rent growth and refresh capital where impactful.