| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Best |
| Demographics | 75th | Best |
| Amenities | 15th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 64 US Oval, Plattsburgh, NY, 12903, US |
| Region / Metro | Plattsburgh |
| Year of Construction | 2007 |
| Units | 60 |
| Transaction Date | 2004-06-22 |
| Transaction Price | $675,000 |
| Buyer | LARKIN JOHN |
| Seller | OVAL DEVELOPMENT LLC |
64 US Oval, Plattsburgh NY Multifamily Investment Thesis
Neighborhood fundamentals signal steady renter demand and near-metro-average occupancy, according to WDSuite’s CRE market data. The asset benefits from a solid tenant base supported by a growing 3-mile household count and manageable rent-to-income levels.
The property sits in an inner-suburban pocket of Plattsburgh that ranks 2 out of 50 metro neighborhoods (A+ rating), placing it in the top quartile among local peers. That positioning typically reflects balanced housing dynamics and competitive livability drivers for workforce renters, based on commercial real estate analysis from WDSuite.
Neighborhood occupancy averages are near the metro midpoint, which points to stable but competitive leasing conditions. Renter-occupied housing accounts for roughly the low-to-mid 40% share within the neighborhood, indicating a meaningful, though not dominant, renter concentration. Within a 3-mile radius, households have expanded over the last five years and are projected to continue growing, which strengthens the tenant pipeline for mid-size multifamily assets.
Affordability metrics are constructive: neighborhood rent-to-income sits around one-fifth of income, supporting retention and lease management. Median home values sit below the national midpoint, which can introduce some competition from ownership; however, elevated renter shares and smaller average household sizes in the 3-mile radius suggest ongoing reliance on multifamily options for convenience and flexibility.
Local retail density appears limited in the immediate blocks, so residents may rely on broader trade-area amenities. Still, the neighborhood’s demographic mix (with a sizable 18–34 cohort and increasing households within 3 miles) supports demand for well-managed, functional apartments with straightforward access to employment nodes.
Comparable neighborhood-level safety indicators were not available in this dataset. Without published ranks or percentiles for this location, investors should benchmark on-the-ground observations and public records against regional peers to understand relative safety trends over time.
This 60-unit asset aligns with steady, needs-based renter demand in an inner-suburban Plattsburgh neighborhood that rates near the top of the metro. Household growth and a shrinking average household size within a 3-mile radius point to a larger tenant base and ongoing demand for professionally managed apartments. According to CRE market data from WDSuite, neighborhood occupancy trends sit around the metro average, suggesting dependable but competitive leasing conditions.
Affordability indicators are favorable for retention: neighborhood rent-to-income is around one-fifth, and projected household gains in the nearby trade area should help support occupancy stability. The main watch items are relatively modest immediate amenity density and the potential for ownership competition given below-national-median home values, both of which place a premium on operational execution and unit positioning.
- Top-tier neighborhood rank (2 of 50) supports durable renter demand
- 3-mile household growth and smaller household sizes expand the renter pool
- Rent-to-income near one-fifth aids lease retention and pricing discipline
- Mid-size scale (60 units) enables professional management and efficiencies
- Risks: amenity-light immediate area and some competition from ownership options