| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Best |
| Demographics | 59th | Good |
| Amenities | 65th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 801 Reynolds Rd, Johnson City, NY, 13790, US |
| Region / Metro | Johnson City |
| Year of Construction | 1980 |
| Units | 36 |
| Transaction Date | 2003-08-01 |
| Transaction Price | $125,000 |
| Buyer | FRAZIER JON D %GRAYDON APTS |
| Seller | FRAZIER GREGORY P |
801 Reynolds Rd Johnson City Multifamily with Stable Renter Base
Neighborhood occupancy is steady and renter demand is durable, according to WDSuite’s CRE market data, supporting an income-focused hold with measured value-add potential.
The property sits in an Inner Suburb location rated A+ and ranked 1 out of 111 neighborhoods in the Binghamton, NY metro, indicating competitive fundamentals versus local peers. Neighborhood occupancy is above the metro median and in the top third nationally, a signal for investors that lease-up risk is limited and renewals can anchor performance when managed well.
Renter-occupied housing accounts for just over half of units locally (ranked 11 of 111), making the area competitive among Binghamton neighborhoods for multifamily demand depth. At the same time, median home values in the area are lower than national norms, which can introduce some competition from ownership; investors should emphasize product positioning and lease management to sustain pricing power and retention.
Local livability supports day-to-day convenience: cafes and parks score in the upper national percentiles, and restaurants and groceries are accessible. Pharmacy presence is limited, which is worth noting for resident convenience but does not typically impair leasing in comparable Inner Suburb settings. Average school ratings trail national benchmarks; for multifamily, this leans the submarket toward workforce and adult households rather than school-driven demand, a consideration for marketing strategy and product mix in any commercial real estate analysis.
Within a 3-mile radius, WDSuite data shows modest recent population stability alongside an increase in households, expanding the local renter pool. Forward-looking projections point to additional household growth over the next five years, which should support occupancy stability and steady tenant interest as new leases and renewals roll.
Vintage also matters: the neighborhood’s average construction year skews older (late 1960s). With a 1980 build, this asset is newer than much of the nearby stock, offering relative competitiveness versus older properties while still warranting targeted modernization of building systems and finishes to protect rent premiums over time.
Comparable crime metrics are not available from WDSuite for this neighborhood. Investors typically benchmark safety by reviewing metro and neighborhood trends and touring at different times of day to align on risk tolerance and onsite management needs.
Given the property’s Inner Suburb context and overall neighborhood strength within the Binghamton metro, many owners prioritize standard measures such as lighting, access control, and resident engagement to support retention and protect asset operations.
Employer proximity details with verified distances are not available from WDSuite for this address. Investors may consider major healthcare, education, and manufacturing nodes in the Greater Binghamton area when assessing commute-driven renter demand.
This 36-unit, 1980-vintage asset benefits from a renter-heavy neighborhood with occupancy above the metro median and competitive amenities that support day-to-day convenience. Being newer than much of the nearby housing stock offers a relative edge versus 1960s-era properties, while targeted upgrades can further differentiate the asset and sustain rent positioning without overreaching on capex.
Household counts within a 3-mile radius have expanded and are projected to continue growing, suggesting a larger tenant base and support for lease continuity. According to CRE market data from WDSuite, local rents and incomes have trended upward, keeping rent-to-income levels manageable by national standards and helping underpin retention when renewal strategies are disciplined.
- Neighborhood occupancy above metro median supports steady leasing and renewals.
- 1980 vintage is newer than much of the area’s stock, with value-add potential through targeted modernization.
- 3-mile household growth expands the tenant base and supports demand stability over time.
- Manageable rent-to-income levels locally reinforce retention when pricing and renewals are calibrated.
- Risks: lower school ratings and limited pharmacy access may influence certain renter segments; ownership affordability can introduce competition, requiring clear product positioning.