| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 30th | Fair |
| Demographics | 52nd | Fair |
| Amenities | 17th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2114 Route 145, East Durham, NY, 12423, US |
| Region / Metro | East Durham |
| Year of Construction | 1980 |
| Units | 32 |
| Transaction Date | 2004-11-01 |
| Transaction Price | $270,000 |
| Buyer | ROMNEY PRAFULA |
| Seller | MARTIN JAMES |
2114 Route 145 East Durham Multifamily Investment
Positioned in a rural pocket of Greene County, the asset offers attainable rents and potential value-add in a market with modest renter concentration, according to WDSuite’s CRE market data. Neighborhood fundamentals suggest stable income levels and measured renter demand rather than rapid growth.
East Durham is a rural neighborhood within Greene County with a C+ rating and limited immediate amenities. Amenity access trends place the area roughly mid-pack among 37 local neighborhoods, while cafe density is comparatively stronger, indicating small but active local nodes that can support everyday needs without urban-level variety.
Renter-occupied housing is a smaller share of units in this neighborhood, which points to a thinner but identifiable tenant base for multifamily. Neighborhood occupancy has trended stable rather than expansionary in recent years, suggesting that leasing performance depends more on property-level execution, competitive positioning, and pricing than on strong tailwinds.
Home values are lower than many New York metros, which can introduce competition from ownership options. For investors, this typically favors attainable rents and careful lease management to sustain retention, rather than aggressive rent pushes. Average school ratings are around 2.5 out of five, which may temper appeal for some household segments but is consistent with broader rural submarkets.
Demographic indicators within a 3-mile radius point to steady household income levels and incremental growth over the recent period, reinforcing capacity for rent at workforce-oriented price points. Compared with national trends, this neighborhood sits below the top quartiles across housing and amenities, but it can compete on cost and value positioning against pricier regional alternatives.
Standardized neighborhood crime metrics were not available from WDSuite for this location. Investors typically benchmark property operations against county and regional safety trends and lean on on-the-ground diligence to understand conditions around the asset and along primary commute corridors.
- IBM — technology & services (25.8 miles)
Regional employment is diversified across technology and services accessible by car, supporting workforce housing dynamics and commute convenience for renters referenced below.
Built in 1980, the 32-unit property is newer than the area’s mid-century housing stock, offering a relative competitive edge versus older inventory while still leaving room for selective modernization. Based on CRE market data from WDSuite, the surrounding neighborhood exhibits a smaller renter pool and stable, income-supported demand—conditions that favor disciplined operations, value-oriented positioning, and targeted upgrades over speculative lease-up assumptions.
Lower ownership costs in the area can compete with rentals, but they also reinforce the role for well-managed, attainable units—particularly smaller-format apartments that can price below ownership monthly outlays. With measured renter demand and limited amenity competition locally, execution focus on retention, maintenance quality, and thoughtful renovations is likely to drive outcomes.
- 1980 vintage is newer than much of the neighborhood’s stock, with potential for targeted value-add and modernization.
- Income-supported renter demand favors attainable pricing and steady occupancy over rapid growth assumptions.
- Smaller-format units can undercut monthly ownership costs, supporting lease retention in a high-car, rural setting.
- Execution focus—maintenance, renewals, and selective upgrades—can differentiate versus older nearby inventory.
- Risk: Low renter concentration and ownership competition require disciplined pricing and conservative underwriting.