| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Good |
| Demographics | 75th | Best |
| Amenities | 43rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 376 Margaret St, Plattsburgh, NY, 12901, US |
| Region / Metro | Plattsburgh |
| Year of Construction | 1989 |
| Units | 76 |
| Transaction Date | 2012-11-13 |
| Transaction Price | $4,300,000 |
| Buyer | EZ PROPERTIES LLC |
| Seller | NORTH SHORE APARMENTS LLC |
376 Margaret St, Plattsburgh NY Multifamily Investment
Renter concentration around half of local housing units and moderate neighborhood rents point to a broad tenant base and manageable affordability pressures, according to WDSuite’s CRE market data. Occupancy trends are stable for the neighborhood, with location fundamentals supported by everyday amenities and inner-suburban access.
The property’s 1989 vintage is newer than the neighborhood’s older housing stock (average construction year around 1950), which can offer competitive positioning versus mid‑century assets. For investors, that typically translates to lower immediate capital intensity than pre‑1960 buildings, while still leaving room for value‑add through modernizations as systems age.
Daily‑needs access is a relative strength. The neighborhood ranks 2 out of 50 metro neighborhoods for both grocery and restaurant density, placing grocery options in the top quartile nationally and restaurant access competitive across Plattsburgh. Parks availability is also strong (ranked 2 of 50; top quartile nationally). By contrast, cafes and pharmacies are sparse locally, which may limit walkable lifestyle appeal but does not diminish essential‑services convenience.
Neighborhood occupancy is below the metro median (ranked 30 of 50), yet renter concentration is high for the area (about half of units are renter‑occupied and in the 88th percentile nationally). For multifamily operators, that mix suggests a deep tenant pool even if lease‑up can require more active management in certain seasons. Median contract rents are near the national midpoint, supporting renewal retention with measured pricing power rather than aggressive mark‑to‑market assumptions.
Within a 3‑mile radius, recent data indicate modest population growth and a notable increase in households alongside smaller average household sizes. Looking forward, forecasts show continued household growth and a further shift toward smaller households, which can expand the renter pool and support occupancy stability. Household incomes have been rising, which, combined with a rent‑to‑income profile around the mid‑range, supports steady demand without severe affordability pressure.
Home values in the neighborhood sit below many high‑cost U.S. markets, which can introduce some competition from ownership options. However, the combination of everyday‑amenity access, rising incomes, and a sizable renter base provides a durable foundation for multifamily demand and lease retention.
Standardized crime figures for this neighborhood are not available in WDSuite’s dataset, so investors should rely on comparative city and county sources, recent police blotters, and on‑the‑ground diligence for a full picture. A practical approach is to benchmark any available local trend data against Plattsburgh metro averages and peer inner‑suburb neighborhoods to gauge relative safety and resident sentiment over time.
With 76 units built in 1989, this property sits newer than much of the surrounding stock, offering operational flexibility and potential value‑add through targeted renovations. According to CRE market data from WDSuite, the neighborhood combines strong access to daily necessities (grocery, parks) with a high share of renter‑occupied units, reinforcing a broad tenant base and stable leasing dynamics. Moderate rents and a mid‑range rent‑to‑income profile support renewal retention while allowing disciplined pricing.
Demographics aggregated within a 3‑mile radius point to population growth, a faster increase in households, and smaller household sizes — trends that typically expand the renter pool and support occupancy over time. The flip side is that neighborhood occupancy trails the metro median and lifestyle amenities like cafes are limited, suggesting the thesis should emphasize workforce housing demand, operational execution, and curated improvements over luxury positioning.
- Newer‑than‑area vintage (1989) supports competitive positioning and targeted value‑add planning
- High renter‑occupied share and essential‑amenity access underpin demand and leasing stability
- Moderate rents and mid‑range rent‑to‑income support retention with measured pricing power
- 3‑mile household growth and smaller household sizes expand the renter pool over time
- Risk: Neighborhood occupancy sits below the metro median; lifestyle amenity scarcity requires focused marketing and operations