| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 29th | Fair |
| Demographics | 50th | Fair |
| Amenities | 9th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 38 Fowler Ave, Schroon Lake, NY, 12870, US |
| Region / Metro | Schroon Lake |
| Year of Construction | 1991 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
38 Fowler Ave Schroon Lake Multifamily Investment
Renter demand is supported by a high-cost ownership landscape and smaller household sizes, according to WDSuite’s CRE market data. The asset’s 36 units and compact average floor plans align with a tenant base that skews toward smaller households, aiding retention in a low-density setting.
Schroon Lake offers a suburban, low-density environment where everyday retail and services are limited within the immediate neighborhood, which can translate to quieter living but fewer walkable amenities. Park access ranks competitively among the 36 Essex County neighborhoods and sits above the national median, supporting outdoor-oriented lifestyle appeal that can aid leasing for residents seeking recreation access.
The neighborhood’s renter-occupied share is modest, indicating a smaller but potentially stable tenant pool. With a rent-to-income ratio in the higher national percentiles, rent levels are comparatively manageable relative to incomes, which can support lease retention but may temper near-term pricing power. Ownership costs trend elevated versus incomes in national context, reinforcing reliance on rental housing for some households and supporting sustained multifamily demand.
Average household size is small by national standards, which typically favors studios and one-bedrooms; the property’s average unit size is consistent with this demand profile. Neighborhood housing stock skews older (average construction year mid-20th century), so the 1991 vintage positions the asset as comparatively newer against much of the local inventory—helpful for competitive positioning while still calling for targeted modernization to meet current renter expectations.
Neighborhood-level crime metrics are not available in WDSuite for this location, so investors should review broader Essex County trends and compare them with asset-level operational history. Given the area’s suburban and low-density context, underwriting should prioritize standard precautions—lighting, access control, and resident engagement—and rely on third-party diligence for current conditions.
Regional employers within commutable distance provide a baseline of demand for workforce housing, particularly for residents willing to drive to nearby corporate operations.
- International Paper Company — paper & packaging (18.2 miles)
- McKesson — healthcare distribution (35.1 miles)
Built in 1991, the 36-unit property stands newer than much of the surrounding housing stock, offering a competitive edge in a neighborhood characterized by older inventory. Small average unit sizes align with the area’s smaller household patterns, supporting occupancy stability and steady renter interest at attainable rent levels. Elevated ownership costs relative to incomes suggest continued renter reliance on multifamily housing, while the quiet, outdoor-oriented setting can differentiate the asset for tenants prioritizing space and recreation access.
According to CRE market data from WDSuite, local rents appear manageable relative to incomes, which supports retention but suggests measured rent growth expectations. Investors should balance these fundamentals with the area’s limited amenity density and modest renter concentration, making targeted value-add and disciplined operations key to long-term performance.
- 1991 vintage is newer than much of the local stock, offering competitive positioning with selective modernization potential.
- Small average unit size matches smaller household patterns, supporting leasing depth for studios and 1-bedrooms.
- Elevated ownership costs versus incomes reinforce rental housing reliance, aiding demand durability and retention.
- Outdoor and park access appeal supports differentiation for residents seeking recreation-oriented lifestyles.
- Risk: limited amenity density and a modest renter base call for conservative rent assumptions and focused asset management.