| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Good |
| Demographics | 58th | Good |
| Amenities | 13th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2025 State Route 22B, Morrisonville, NY, 12962, US |
| Region / Metro | Morrisonville |
| Year of Construction | 1986 |
| Units | 25 |
| Transaction Date | 2014-08-21 |
| Transaction Price | $1,093,214 |
| Buyer | R2D2 HOUSING DEVLP FUND CO INC |
| Seller | PLATTSBURGH HOUSING COMPANY |
2025 State Route 22B Morrisonville Multifamily Investment
Occupancy in the surrounding neighborhood trends strong and renter affordability is favorable, suggesting steady tenant retention according to WDSuite s CRE market data. For a smaller asset in a rural submarket, the combination of stability and pricing headroom can support durable cash flows.
Morrisonville sits within the Plattsburgh, NY metro and scores a B+ neighborhood rating, per WDSuite. The area is rural with limited walkable amenities, which typically means residents rely on driving for daily needs. Amenity density ranks 16th among 50 metro neighborhoods (above the metro median), while cafes, parks, and pharmacies are sparse compared to national norms. For multifamily, this tends to favor quiet, lower-density living over lifestyle-driven walkability.
Neighborhood occupancy is competitive among Plattsburgh submarkets and above the metro median (ranked 12 of 50), and WDSuite s CRE market data places it in a strong national percentile for stability. Median contract rents sit in the mid-range for the metro (ranked 11 of 50) with a rent-to-income ratio around 13%, indicating manageable affordability pressure that can aid lease retention and measured pricing power.
The property s 1986 vintage is newer than the area s older housing stock (average construction year is 1957). That positioning can improve competitiveness versus legacy inventory, though investors should still budget for modernization and system updates typical of 1980s construction.
Demographic statistics aggregated within a 3-mile radius show modest population growth over the last five years, a larger household base, and slightly smaller average household sizes. Together, these trends point to a stable or gradually expanding renter pool that can support occupancy and leasing velocity over time.
Home values are lower than many national markets, which can make ownership relatively accessible. For multifamily investors, this implies some competition with entry-level ownership options but also supports rent-to-income headroom that can help sustain renewal rates when managed carefully.
Comparable safety positioning for this neighborhood cannot be precisely benchmarked here due to limited recent crime reporting in the dataset. Investors often evaluate block-level risk via insurance quotes, historical loss data, and local comp surveys alongside WDSuite s metro context. As always, consider on-the-ground diligence to understand patterns over time rather than a single-year snapshot.
This 25-unit 1986 asset in Morrisonville offers a straightforward workforce housing profile: neighborhood occupancy trends are competitive within the Plattsburgh metro, rents remain manageable relative to incomes, and the vintage is newer than much of the local housing stock. According to commercial real estate analysis from WDSuite, these fundamentals point to steady renter demand with potential for operational optimization rather than heavy repositioning.
Demographics aggregated within 3 miles indicate incremental population and household growth with smaller household sizes, which supports a stable tenant base. While ownership is relatively accessible in this market, prudent lease management and product differentiation can preserve retention and measured rent growth.
- Competitive neighborhood occupancy supports stability versus other Plattsburgh submarkets.
- Manageable rent-to-income dynamics provide room for disciplined rent management and renewals.
- 1986 vintage offers a relative edge over older stock, with selective modernization to enhance positioning.
- 3-mile demographic trends point to a gradually expanding renter pool that supports leasing.
- Risks: rural amenity depth and accessible ownership options may temper pricing power; plan for capex on aging systems.