| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Good |
| Demographics | 69th | Best |
| Amenities | 26th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6154 State Route 434, Apalachin, NY, 13732, US |
| Region / Metro | Apalachin |
| Year of Construction | 1980 |
| Units | 38 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
6154 State Route 434, Apalachin NY Multifamily Investment
Neighborhood occupancy is high and comparatively stable, according to WDSuite’s CRE market data, supporting a steady leasing backdrop for a 1980-vintage, 38-unit asset in a low-renter area.
The property sits in a rural pocket of the Binghamton, NY metro where neighborhood occupancy is strong and resilient. The area’s occupancy ranks 22 out of 111 Binghamton neighborhoods and is in the top quartile nationally, indicating competitive stability even with a smaller renter base.
Schools are a standout strength: the neighborhood’s average school rating ranks 1 out of 111 across the metro and sits in a high national percentile. For family-oriented renters, this can support retention and lower turnover risk.
Amenity access is modest by national standards but competitive within the metro. Parks score above the national midpoint, while cafes and pharmacies are sparse; grocery and restaurants are present at levels comparable to many Binghamton neighborhoods. Investors should underwrite convenience as car-oriented rather than walkable.
Tenure data points to a low share of renter-occupied housing at the neighborhood and 3-mile levels, which implies a smaller renter pool but often steadier lease rolls. Median rents remain accessible relative to local incomes, and the rent-to-income ratio is low for the neighborhood, which can aid renewal capture and collections management.
Three-mile demographics are aggregated within a 3-mile radius and show recent population softness but a projected rebound in the next five years, alongside an increase in households and a shift toward both older residents and a modestly larger 18–34 cohort. For multifamily, that mix suggests a stable tenant base with pockets of new demand, supporting occupancy durability over a medium-term hold, based on CRE market data from WDSuite.
Comparable safety metrics are not available for this neighborhood in WDSuite at this time. Investors typically benchmark property performance against metro and national trends and prioritize on-site measures (lighting, access control, tenant screening) to support resident satisfaction and retention.
This 38-unit property, built in 1980, is newer than much of the local housing stock, offering competitive positioning versus older inventory while leaving room for selective modernization to enhance rents and retention. Neighborhood occupancy is competitive among Binghamton neighborhoods and in the top quartile nationally, which supports income stability even with a smaller renter pool.
Home values and rent levels indicate an accessible cost of living relative to incomes, reinforcing renewal probabilities but moderating near-term pricing power. Three-mile data (aggregated within a 3-mile radius) points to population stabilization ahead and household growth, which should incrementally expand the renter pool. According to commercial real estate analysis from WDSuite, these dynamics favor steady operations with targeted value-add to capture incremental rent growth.
- Competitive occupancy: top quartile nationally and strong within the Binghamton metro supports cash flow stability.
- 1980 vintage: newer than area averages, with potential to modernize systems and interiors for value-add upside.
- Strong school rankings: metro-leading school performance can bolster family renter retention.
- Accessible rent-to-income: supports renewals and collections, while suggesting measured rent growth underwriting.
- Risk: low renter-occupied share implies a narrower tenant pool; lease-up may rely on targeted marketing and competitive finishes.