| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 18th | Fair |
| Demographics | 44th | Fair |
| Amenities | 32nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15 Church St, Tupper Lake, NY, 12986, US |
| Region / Metro | Tupper Lake |
| Year of Construction | 1984 |
| Units | 51 |
| Transaction Date | 2012-05-15 |
| Transaction Price | $900,000 |
| Buyer | DE SMITH ASSOCITES LLC |
| Seller | D E SMITH HOUSING DEV |
15 Church St Tupper Lake NY Multifamily Opportunity
Neighborhood affordability is a relative strength, supporting tenant retention even as local occupancy has been softer in recent years, according to WDSuite’s CRE market data. For investors, the balance of low rent-to-income and a modest renter base suggests stable operations with attentive leasing and renewal management.
This rural neighborhood in Tupper Lake posts a B+ neighborhood rating and ranks 11th out of 35 in the Malone, NY metro—competitive among metro neighborhoods by WDSuite’s framework. Dining access is comparatively better than other local amenities, with restaurants represented, while everyday needs are primarily met by grocery options in the area; parks, pharmacies, and cafes are limited, which is typical of lower-density Adirondack communities.
Neighborhood occupancy sits below national norms and has trended down over the past five years, indicating a need for deliberate leasing strategy and careful renewal management. At the same time, the neighborhood’s rent-to-income levels signal relatively low affordability pressure for renters, which can aid retention and reduce turnover risk. Median home values are on the lower side in national context, which can introduce some competition from ownership; pricing discipline and value-forward unit positioning can help sustain renter demand.
The property’s 1984 vintage is newer than the neighborhood’s older housing stock (average construction year skews early-20th century), offering a relative advantage on systems and finishes versus many nearby alternatives. Investors should still plan for selective modernization to maintain competitiveness and support leasing velocity.
Demographic indicators aggregated within a 3-mile radius show a smaller local population and household base today than five years ago, but forward-looking projections point to potential population growth and an increase in households by the forecast window. For multifamily owners, that outlook implies a gradual renter pool expansion that can support occupancy stabilization if units are positioned to capture demand.
Schools in the broader area score below national averages on typical rating scales, which is common in rural markets. For workforce housing, the primary draw tends to be access to jobs and essential services rather than school-driven location decisions, so emphasizing durable operations, service quality, and value can be effective in this context.
Comparable neighborhood-level safety data was not available in WDSuite’s dataset for this location at the time of analysis. Investors typically benchmark crime trends against metro and county averages to understand relative positioning and any directional shifts; given limited data here, underwriting should incorporate local management insight and historical operating experience to gauge security needs and policy design.
15 Church St is a 51-unit multifamily asset with average unit sizes around 720 sq. ft., positioned in a rural Adirondack market where renter affordability is a relative strength. The 1984 construction is newer than much of the surrounding housing stock, giving the property a competitive footing versus older alternatives while still allowing room for targeted value-add updates. According to CRE market data from WDSuite, neighborhood occupancy has been softer, so performance hinges on hands-on leasing, renewal focus, and maintaining a value-forward offering to convert affordability into stable collections.
Lower home values in the area can create ownership competition, but they also anchor a practical cost-of-living profile that supports renter retention when properties are professionally managed. With projected population and household growth within a 3-mile radius, the medium-term setup favors sustained renter demand for well-maintained units, provided operations stay disciplined on pricing and turn efficiency.
- Newer-than-neighborhood stock (1984) supports competitive positioning versus older local inventory.
- Renter affordability profile aids renewal rates and reduces turnover risk with value-forward management.
- Forecast growth in population and households within a 3-mile radius suggests gradual renter pool expansion.
- Risk: Softer neighborhood occupancy and a smaller renter base require proactive leasing and conservative underwriting.
- Risk: Lower ownership costs locally can compete with rentals, underscoring the need for strong service and resident experience.