| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Best |
| Demographics | 75th | Best |
| Amenities | 15th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8 Lake Forest Dr, Plattsburgh, NY, 12903, US |
| Region / Metro | Plattsburgh |
| Year of Construction | 1999 |
| Units | 47 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
8 Lake Forest Dr Plattsburgh Multifamily Opportunity
Neighborhood occupancy around 92.2% and a balanced renter base signal steady leasing fundamentals for a 47-unit asset, according to WDSuite’s CRE market data. Positioning focuses on renter demand depth in Plattsburgh with measured affordability that can aid retention.
The property sits in an Inner Suburb pocket of Plattsburgh that ranks 2 out of 50 metro neighborhoods (A+ rating), placing it in the top tier locally. At the neighborhood level, occupancy averages 92.2%, which supports baseline stability for multifamily operations. Renter-occupied share is 43.8% in the neighborhood, suggesting a balanced tenure mix that still provides a predictable tenant base for mid-scale assets.
Within a 3-mile radius, the population has inched higher over five years while households expanded more meaningfully, pointing to smaller household sizes and a larger tenant pool for apartments. Projections indicate continued population growth and further household gains by 2028, which can support occupancy stability and absorption.
Amenity access is mixed: the area is competitive among Plattsburgh neighborhoods for overall amenities (rank 12 of 50) but sits lower in national amenity density, so residents may rely on broader trade-area retail. Notably, childcare access is a local strength (rank 2 of 50 and high nationally), which can help retain family renters. Median household income at the neighborhood level is above the national midpoint, and the rent-to-income ratio of about 0.21 indicates manageable rent burdens that can support renewals and disciplined pricing.
The average construction vintage in the neighborhood trends newer (2008, rank 2 of 50), while the subject was built in 1999. That age delta highlights practical value-add angles—exterior refresh, interiors, and systems—so the asset can compete effectively against younger stock. Home values are modest locally, which can introduce some competition from ownership; however, this generally reinforces the role of professionally managed rentals for residents prioritizing convenience and flexibility.
Comparable crime metrics for this neighborhood are not available in WDSuite at this time. Investors typically benchmark property-level operations against metro and city sources to evaluate trend direction and relative positioning. Local owner practices—lighting, access control, and resident screening—remain important considerations for leasing stability.
Built in 1999, the 47-unit asset at 8 Lake Forest Dr competes in a neighborhood that ranks near the top of the Plattsburgh metro and posts roughly 92% occupancy—favorable for baseline stability. The surrounding 3-mile area shows household growth with further gains forecast, expanding the renter pool and supporting lease-up and retention. According to CRE market data from WDSuite, the rent-to-income ratio near 0.21 suggests manageable affordability, giving operators room to prioritize renewals while calibrating rent moves to demand.
The neighborhood’s newer average building stock (2008) implies that targeted upgrades at this 1999 vintage could enhance competitiveness versus recent product. Amenity access is lighter by national standards but relatively competitive locally, so residents may tap a broader trade area; operators can offset with on-site conveniences and service quality. Ownership costs are moderate for the region, which can introduce some competition from for-sale housing; careful lease management and value-forward renovations can help sustain pricing power.
- Neighborhood occupancy near 92% supports baseline stability for multifamily operations.
- 3-mile household growth and projected gains expand the tenant base and support absorption.
- 1999 vintage offers value-add potential to compete with newer 2000s stock.
- Manageable rent-to-income levels aid renewals and measured pricing decisions.
- Risks: lighter national amenity density and moderate ownership competition may require focused leasing and resident experience.