| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 34th | Good |
| Demographics | 50th | Good |
| Amenities | 15th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 80 Spring St, Waverly, NY, 14892, US |
| Region / Metro | Waverly |
| Year of Construction | 1980 |
| Units | 37 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
80 Spring St Waverly NY 37-Unit Multifamily Investment
Neighborhood occupancy has hovered around the low-90s and trended higher over the past five years, supporting stable leasing conditions according to WDSuite s CRE market data. Positioned in an inner-suburb setting with a B neighborhood rating, the property offers steady renter demand dynamics relative to the broader Binghamton metro.
The asset sits in Waverly s inner-suburb fabric of the Binghamton, NY metro, where neighborhood-level occupancy is near the low-90s and has improved over five years, indicating resilient renter demand and manageable turnover risk (neighborhood measure, not property performance), based on CRE market data from WDSuite. Median contract rents in the neighborhood remain on the lower side for the metro, which can support lease retention while leaving room for selective upgrades to capture incremental rent.
Schools are a relative strength: the neighborhood s average school rating sits in the top quartile among 111 metro neighborhoods and is modestly above national norms, which often supports housing stability and family-oriented renter retention. By contrast, general retail and lifestyle amenities are limited nearby (low amenity percentile and sparse cafés, groceries, and parks), so residents likely rely on regional hubs for shopping and services a consideration for marketing and tenant expectations.
Within a 3-mile radius, demographics indicate a slightly growing population and a renter-occupied housing share at roughly four in ten units, suggesting a meaningful tenant base for multifamily. Household counts are projected to increase further over the next five years, expanding the local renter pool and supporting occupancy stability, according to WDSuite s market view. The area s value-to-income profile and moderate rent-to-income levels point to relatively manageable affordability pressure, which can aid lease management and reduce downgrade risk.
At the property level, the 1980 vintage is newer than the neighborhood s older housing stock (average around 1920). This positioning can offer a competitive edge versus prewar product, while still warranting prudent capital planning for aging systems and targeted modernization to meet contemporary renter expectations.
Comparable, neighborhood-level safety statistics are not available in this dataset. Investors typically benchmark neighborhood safety against metro and national references using multiple sources, including local law enforcement and municipal reports, to understand trend direction and how it may influence tenant retention and risk management.
Regional employment is anchored by advanced materials and manufacturing, with proximity to Corning supporting commuter demand from the broader labor shed.
- Corning advanced materials & manufacturing (28.5 miles) HQ
80 Spring St offers a 37-unit footprint in a neighborhood that has maintained solid occupancy and shows steady renter demand, per WDSuite s commercial real estate analysis. Lower relative rents at the neighborhood level may support retention while allowing value-oriented renovations. The 1980 construction is newer than much of the local housing stock, positioning the property competitively versus older assets while still calling for thoughtful system updates and selective interior enhancements.
Within a 3-mile radius, modest population growth and a sizable renter-occupied share indicate a durable tenant base, with projections pointing to more households over the next five years a constructive backdrop for leasing and cash flow stability. Amenity scarcity in the immediate area and the distance to major regional employers are considerations, but they can be mitigated by competitive pricing, reliable operations, and targeted upgrades that emphasize livability.
- Neighborhood occupancy has trended upward, supporting stable leasing conditions (neighborhood measure, not property performance).
- 1980 vintage is newer than local averages, offering a competitive edge with value-add potential via modernization.
- Lower neighborhood rent levels aid retention while leaving room for targeted rent capture through upgrades.
- 3-mile demographics point to a meaningful renter base and projected household growth supporting demand.
- Risk: limited nearby amenities and longer commutes to major employers may affect leasing velocity without compelling unit features.