| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 33rd | Good |
| Demographics | 60th | Best |
| Amenities | 67th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 148 Dean St, Owego, NY, 13827, US |
| Region / Metro | Owego |
| Year of Construction | 2003 |
| Units | 22 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
148 Dean St, Owego NY Multifamily Investment Position
Steady renter demand and moderate rent burdens in the immediate area point to durable leasing dynamics, according to WDSuite s CRE market data. Location fundamentals and a predominantly renter-occupied housing base nearby support income stability over the hold.
The property sits in Owego s Inner Suburb context and benefits from a well-rounded amenity set nearby. The neighborhood ranks among the top cohort of the Binghamton metro (4th of 111 neighborhoods) on overall quality, with cafes, restaurants, parks, groceries, and pharmacies all testing above national midpoints. Cafes and restaurants index in higher national percentiles, while grocery and park access score particularly well, helping with everyday convenience that supports tenant retention, based on CRE market data from WDSuite.
Renter concentration is elevated for the metro, with 48.2% of neighborhood housing units renter-occupied (13th of 111). For investors, this indicates a deeper tenant base and supports leasing velocity for multifamily. By contrast, the neighborhood s occupancy rate trends below the metro median (ranked 68th of 111), which argues for attentive leasing and asset management to maintain stability.
Property vintage is a relative advantage: the building s 2003 construction is newer than the area s much older housing stock. That positioning can be competitive versus nearby legacy properties, while still warranting periodic systems updates and light modernization planning to protect NOI.
Demographic indicators aggregated within a 3-mile radius show near-flat recent population trends but a projected increase in both population and households through the next five years. A larger household count and steady income growth in the radius suggest a gradually expanding renter pool and support for occupancy and renewal performance. Average school ratings sit modestly above many peer areas in the metro, which can help with family-oriented demand without driving outsized rent premiums.
Home values in the neighborhood sit below national medians, creating a more accessible ownership market. For multifamily owners, this can introduce some competition from for-sale options; however, the area s moderate rent-to-income levels and strong amenity access provide counterbalancing support for retention and pricing discipline.
Metro-comparable safety data for this specific neighborhood is not available in the current WDSuite release. Investors should benchmark property performance against broader regional trends and focus on property-level measures (lighting, access control, and maintenance) that support resident satisfaction and lease retention.
Regional employment is anchored by established manufacturers and corporate offices within commuting distance, supporting a stable workforce renter base. Notable among these is Corning, which draws and sustains skilled labor across the Southern Tier.
- Corning materials & technology manufacturing (40.7 miles) HQ
148 Dean St offers a 2003-vintage multifamily asset positioned in an amenity-rich Inner Suburb of the Binghamton, NY metro. The neighborhood s high renter concentration supports a deeper tenant base, while moderate rent-to-income levels in the area suggest manageable affordability pressure that can aid renewal rates. According to commercial real estate analysis from WDSuite, the immediate submarket s overall standing is strong relative to metro peers, even as occupancy trends sit below the metro median a cue for active leasing management.
Forward-looking 3-mile demographics point to incremental population and household growth, which can widen the renter pool and bolster occupancy stability over time. The property s newer vintage versus surrounding housing stock can be a competitive differentiator, with selective modernization supporting long-term positioning against older comparables.
- Strong neighborhood standing in the Binghamton metro with amenity access that supports tenant retention.
- Elevated renter-occupied share nearby indicates depth of tenant demand for multifamily.
- 2003 construction provides relative competitiveness versus older local stock; targeted updates can enhance positioning.
- 3-mile demographic projections show gradual expansion of the renter base, supporting occupancy over time.
- Risk: neighborhood occupancy ranks below metro median, requiring attentive leasing and renewal management.