| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Best |
| Demographics | 32nd | Poor |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 43 Hamilton St, Plattsburgh, NY, 12901, US |
| Region / Metro | Plattsburgh |
| Year of Construction | 1978 |
| Units | 33 |
| Transaction Date | 2004-06-30 |
| Transaction Price | $825,000 |
| Buyer | GOLT ANDREW |
| Seller | ARDEV PROPERTIES LLC THROUGH |
43 Hamilton St, Plattsburgh NY Multifamily Investment
Positioned in an inner-suburb pocket with a deep renter base, this asset benefits from steady neighborhood occupancy and strong daily-needs access, according to WDSuite’s CRE market data. The area’s retail and parks coverage supports leasing durability while leaving room for value-add upside at the property level.
The neighborhood carries an A rating and ranks 6 out of 50 within the Plattsburgh metro—top quartile among metro neighborhoods. Daily-needs access is a core strength: grocery and restaurant density rank at the top of the metro and test in the mid-90s national percentiles, while park access is also high. Fewer cafes and pharmacies nearby suggest a more utilitarian retail mix rather than lifestyle-driven storefronts.
Renter concentration is notably high (renter-occupied share ranks 1 of 50; top nationally), signaling a deep tenant base for multifamily. Neighborhood occupancy is near the metro median (rank 25 of 50), pointing to generally stable leasing conditions with typical turnover management needs for the area.
Within a 3-mile radius, population has inched up and households have grown, with forecasts indicating additional household expansion and smaller average household sizes. This trend typically broadens the renter pool and supports occupancy stability over time. Median school ratings are below national medians, which can influence tenant mix toward renters prioritizing convenience and employment proximity over school-driven location decisions.
Ownership is relatively high-cost versus local incomes (value-to-income ratio ranks at the top of the metro and is in a high national percentile), which tends to reinforce reliance on rental housing and can aid lease retention. At the same time, rent-to-income signals point to affordability pressure for some households, a consideration for pricing power and renewal strategy.
Safety indicators show a mixed picture. Relative to U.S. neighborhoods, several measures land in higher national percentiles, indicating comparatively favorable conditions. However, the metro crime rank is low (2 out of 50, where a lower rank indicates higher crime within the metro), implying reported incidents are elevated versus many Plattsburgh peers. Investors should read these signals as context rather than block-level risk.
Recent trends diverge by category: property-related incidents show a sharp year-over-year improvement, while violent offense trend data points to recent increases. As always, underwriting should incorporate current comparable properties and operating practices for this submarket.
Built in 1978, the property is newer than much of the local housing stock (average vintage skews earlier), which supports competitive positioning against older assets while still offering classic value-add pathways through targeted systems updates and interior modernization. Neighborhood fundamentals feature a deep renter base and daily-needs retail density that support tenant retention; according to CRE market data from WDSuite, area occupancy sits around the metro median, consistent with steady leasing but not overheated conditions.
Three-mile demographics indicate steady population with a projected increase in households and smaller household sizes, broadening the renter pool and supporting demand for appropriately sized units. Ownership remains relatively high-cost versus incomes, which reinforces multifamily demand, though rent-to-income signals suggest careful renewal and pricing strategies to manage retention risk.
- Deep renter base and daily-needs retail density support demand durability
- 1978 vintage offers value-add and modernization potential versus older local stock
- Household growth and smaller household sizes within 3 miles expand the renter pool
- Ownership costs relative to income bolster reliance on rentals, aiding retention
- Risks: metro-level safety rank mixed with recent offense trends; affordability pressure may temper pricing power