| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Good |
| Demographics | 58th | Good |
| Amenities | 13th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 646 Tom Miller Rd, Plattsburgh, NY, 12901, US |
| Region / Metro | Plattsburgh |
| Year of Construction | 1998 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
646 Tom Miller Rd: Stable Plattsburgh Multifamily Opportunity
Neighborhood occupancy is strong and has trended higher, pointing to steady tenant retention according to WDSuite’s CRE market data. Positioning in a car-oriented pocket of Plattsburgh supports workforce demand while keeping operating expectations measured.
The property sits in a Rural neighborhood of Plattsburgh that ranks competitive among 50 metro neighborhoods (ranked 16th), with occupancy in the top quartile locally and strong compared with national patterns. This indicates durable renter demand and fewer lease-up risks than many peer locations, based on CRE market data from WDSuite.
Vintage matters: built in 1998, the asset is newer than much of the surrounding housing stock (area average skews mid-20th century). Newer construction can be relatively competitive versus older comparables, though investors should still plan for typical system updates and selective modernization to support rent positioning.
Within a 3-mile radius, demographics show a balanced age mix and a renter-occupied share near one-third of housing units, which supports a meaningful tenant base for a 20-unit property. Household counts have risen and are projected to continue increasing through the mid-term, while average household size is trending smaller—both dynamics that can expand the renter pool and support occupancy stability.
Local amenity density is modest—reflective of a car-dependent, low-amenity corridor—yet basic services and restaurants are present within the metro. Median contract rents in the neighborhood are mid-market for the region and rent-to-income metrics suggest manageable affordability pressure, which can aid lease retention though may temper near-term pricing power. Home values are relatively accessible for owners in this part of Plattsburgh; for multifamily investors, that means monitoring renewal strategies and amenities to stay competitive with ownership alternatives.
Neighborhood-level crime metrics are limited for this location in WDSuite’s dataset, so investors should rely on city and county trend reviews, as well as property-level history and insurer guidance, for underwriting. Where comparative data is available across the region, rural submarkets often exhibit varied patterns by corridor rather than uniform conditions.
This 1998-vintage, 20-unit asset benefits from neighborhood occupancy in the top tier of the Plattsburgh metro, indicating stable day-to-day operations and lower lease-up risk. Demographic trends within a 3-mile radius point to an expanding household base and smaller household sizes, which typically support multifamily absorption and retention. According to CRE market data from WDSuite, local rent levels sit in a manageable range for area incomes, reinforcing steady demand while suggesting measured rent growth strategies.
The building’s newer vintage relative to surrounding housing stock provides a competitive edge versus older properties, while still allowing room for targeted upgrades to enhance positioning. Investors should balance these strengths against a car-oriented location with lighter amenity density and relatively accessible homeownership costs in the area, which call for disciplined leasing and renewal management.
- Occupancy strength in the neighborhood supports stable tenancy and fewer lease-up uncertainties.
- 1998 construction offers competitive positioning versus older local stock, with room for modernization to drive NOI.
- 3-mile demographics show a growing household base and smaller household sizes, expanding the renter pool.
- Managed affordability relative to incomes supports retention and steady occupancy.
- Risk: car-oriented setting and accessible ownership options require competitive amenities and renewal discipline.