| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Best |
| Demographics | 32nd | Poor |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 16 Macomb St, Plattsburgh, NY, 12901, US |
| Region / Metro | Plattsburgh |
| Year of Construction | 1980 |
| Units | 45 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
16 Macomb St, Plattsburgh NY Multifamily Investment
Stabilized renter demand in an inner-suburban pocket with high renter concentration and grocery/restaurant density, according to WDSuite’s CRE market data. Neighborhood occupancy trends sit near the metro median, supporting consistent leasing in typical cycles.
The property sits in an Inner Suburb of Plattsburgh rated A and ranked 6 out of 50 metro neighborhoods, placing it competitive among Plattsburgh neighborhoods. Grocery and dining access are strengths, with neighborhood grocery and restaurant density in the top decile nationally, which helps day-to-day livability for residents and supports retention.
Construction year is 1980, materially newer than the neighborhood’s older housing stock (average year 1947). For investors, that vintage can reduce near-term obsolescence risk versus prewar assets while still warranting capital planning for aging systems and targeted modernization to enhance rent positioning.
Renter-occupied housing is the dominant tenure locally, with the neighborhood posting the highest renter concentration among 50 metro neighborhoods. That depth of renter households supports multifamily leasing, while occupancy around 90% is roughly at the metro median, indicating steady but competitive conditions.
Within a 3-mile radius, the population has edged higher and households have grown meaningfully, with projections calling for further household growth alongside smaller average household sizes. This points to a larger tenant base and demand for smaller units, supporting occupancy stability. Median home values remain modest in absolute terms, yet ownership costs relative to incomes are elevated by national standards, which tends to sustain reliance on rentals and bolster pricing power for well-maintained communities. At the same time, a low average school rating and limited pharmacy/cafe/childcare options are trade-offs investors should weigh against the strong grocery, parks, and restaurant access.
Affordability bears monitoring: neighborhood rent-to-income levels are elevated, suggesting potential retention risk if rent growth outpaces incomes. Lease management and thoughtful amenity upgrades can help balance pricing with value perception.
Safety indicators for the neighborhood are comparatively solid, with overall conditions in the top quartile nationally. Property offense levels benchmark favorably (also top decile nationally) and have eased year over year, while violent offense measures remain comparatively favorable nationally but showed a recent one-year increase. For investors, the mix suggests generally supportive perceptions with a need to monitor trend direction rather than any single-year swing.
This 45-unit, 1980-vintage asset benefits from a high-renter neighborhood with grocery and restaurant density that supports day-to-day convenience and lease retention. Compared with the neighborhood’s older housing stock, the property’s vintage positions it competitively versus prewar inventory while still calling for targeted system upgrades and value-add touches. Based on commercial real estate analysis from WDSuite, occupancy in the immediate neighborhood tracks near the metro median, consistent with stable but competitive leasing conditions.
Within a 3-mile radius, households have expanded and are projected to grow further as average household size declines, implying a broader tenant base and demand for smaller apartments. Ownership costs relative to incomes are elevated by national benchmarks, reinforcing reliance on rentals, though higher rent-to-income levels warrant careful pricing and renewal strategies.
- High renter concentration and consistent neighborhood occupancy support leasing stability.
- 1980 vintage is newer than much of the local stock, offering competitive positioning with targeted upgrades.
- Strong grocery/restaurant access and park proximity enhance livability and retention.
- Expanding household counts within 3 miles point to a growing tenant base and support occupancy.
- Risks: elevated rent-to-income ratios, below-average school ratings, and the need to monitor safety trend direction.