| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 29th | Fair |
| Demographics | 34th | Poor |
| Amenities | 30th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 430 Fulton St, Waverly, NY, 14892, US |
| Region / Metro | Waverly |
| Year of Construction | 1983 |
| Units | 64 |
| Transaction Date | 2016-11-10 |
| Transaction Price | $3,120,738 |
| Buyer | ELIZABETH SQUARE HOUSING DEVELOPMENT FUND COM |
| Seller | ELIZABETH SQUARE ASSOC |
430 Fulton St Waverly, NY Multifamily Investment
Neighborhood renter demand is supported by manageable rents and a moderate renter base, while occupancy has softened in recent years, according to WDSuite s CRE market data. Investors should weigh stable small-town fundamentals against leasing and retention execution in a rural setting.
This rural Waverly neighborhood carries a B- rating and sits around the middle of the Binghamton metro pack (61 of 111). Amenity access is limited overall, but park access scores in the top quartile nationally, and pharmacies rate above national averages. Restaurant density is modest, aligning with small-market character rather than urban convenience.
Neighborhood occupancy trends are on the weaker side within the metro, signaling the need for hands-on leasing and renewals to maintain stability. Renter-occupied housing makes up roughly one-third of neighborhood units, indicating a meaningful—though not dominant—renter concentration that can support a 64-unit asset when managed actively.
Schools in the area score below national norms, which may temper appeal for family-oriented tenants, but affordability helps offset turnover risk. Median home values are comparatively low for the region, which can introduce some competition from ownership; however, rent-to-income ratios sit near national midpoints, supporting pricing aligned with local wages and aiding lease retention.
Within a 3-mile radius, demographics show slight population growth and a small increase in households, with household sizes edging lower. That combination typically expands the renter pool and supports occupancy stability for well-managed properties. Based on commercial real estate analysis from WDSuite, investors can expect steady, needs-based demand drivers rather than strong lifestyle pull.
Comparable safety data at the neighborhood level is limited in WDSuite for this location, so investors typically benchmark against city and county trend lines and prioritize property-level loss runs and lighting/security assessments. Use a relative, portfolio-style approach to underwriting rather than relying on block-level precision.
Regional employment is anchored by advanced manufacturing nearby, supporting commuter demand into Waverly. The following employer provides a stable base of skilled and office workers within driving distance.
- Corning materials & specialty glass (28.3 miles) HQ
Built in 1983, the property is newer than much of the local housing stock, offering competitive positioning versus older inventory while leaving room for selective modernization to drive rents and resident retention. According to CRE market data from WDSuite, neighborhood occupancy has softened relative to the metro, but rents remain manageable against local incomes, helping sustain tenant demand in a rural setting.
Within a 3-mile radius, modest population growth, a rising household count, and smaller average household sizes point to a gradually expanding renter base. Amenity access is limited overall, yet park and pharmacy availability rate well nationally, supporting day-to-day livability. The ownership market’s relatively accessible entry costs may compete with rentals, so asset performance should focus on value, maintenance quality, and customer service to minimize move-outs.
- 1983 vintage offers competitive positioning versus older neighborhood stock with targeted renovation upside
- Manageable rents relative to incomes support leasing and renewal prospects
- 3-mile radius shows incremental population and household growth, expanding the renter pool
- Parks and pharmacy access bolster everyday livability despite limited broader amenities
- Risk: lower neighborhood occupancy and accessible ownership options require strong leasing and retention execution