| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Good |
| Demographics | 40th | Fair |
| Amenities | 6th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 31 S Main St, Adams, NY, 13605, US |
| Region / Metro | Adams |
| Year of Construction | 1985 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
31 S Main St, Adams NY Multifamily Opportunity
Occupancy in the surrounding neighborhood sits near the high-80s and renter-occupied housing accounts for over a third of units, signaling a stable tenant base, according to WDSuite’s CRE market data.
Adams is a Suburban neighborhood within the Watertown–Fort Drum metro with a C-rated profile and fundamentals that skew toward steady workforce housing. Neighborhood occupancy is 89.8% and, at a rank of 25 out of 68 metro neighborhoods, it is competitive among Watertown–Fort Drum neighborhoods, supporting baseline stability for multifamily assets.
Within a 3-mile radius, recent trends show modest population growth alongside an increase in total households, which expands the near-term renter pool. Forward-looking estimates point to smaller household sizes and continued household growth even as population is projected to contract, which can maintain demand for smaller rental formats and support occupancy management over time.
The area’s housing stock is older on average (1938 typical vintage), while the subject property’s 1985 construction is newer than much of the local inventory. That positioning can be an advantage versus aging stock, though investors should budget for systems modernization and selective renovations to sustain competitiveness.
Renter concentration in the neighborhood is 36.7% (renter-occupied share), placing it in the 76th percentile nationally and indicating a deeper tenant base than many peer areas. Median home values around $180K and a rent-to-income ratio near 0.12 suggest relatively low affordability pressure for renters today, aiding retention, though more accessible ownership costs in this market can temper pricing power.
Amenity density is limited locally (low ranks for grocery, cafes, parks, and pharmacies), consistent with smaller Suburban nodes. This tends to favor value-oriented rentals and commute-based living patterns; investors should underwrite accordingly and lean on practical conveniences and on-site features rather than neighborhood retail as a demand driver.
Safety signals are mixed and should be contextualized. Within the Watertown–Fort Drum metro, the neighborhood’s crime rank is 6 out of 68, indicating it sits in a higher-crime tier locally. At the same time, national benchmarking places the area around the 81st percentile for safety metrics, meaning it compares favorably to many neighborhoods nationwide. Recent data also shows year-over-year declines in both property and violent offense estimates, according to WDSuite’s CRE market data.
Built in 1985 with 32 units, 31 S Main St benefits from neighborhood occupancy near 90% and a renter-occupied share in the upper national percentiles, supporting a stable tenant base. The asset is newer than much of the surrounding inventory, creating potential to out-compete older stock with targeted upgrades while managing costs. According to CRE market data from WDSuite, rent-to-income levels point to manageable affordability pressure that can aid retention, though accessible ownership options may limit outsized rent growth.
Forward-looking 3-mile demographics indicate smaller household sizes and a rising household count even as population is projected to contract, implying a shift that can sustain demand for rental units oriented to practical layouts. Limited nearby amenities suggest the value proposition rests on functionality, parking, and ease of access rather than retail adjacency.
- Neighborhood occupancy of 89.8% supports baseline leasing stability
- 1985 vintage is newer than area averages, with clear modernization/value-add pathways
- Renter-occupied share in the 76th national percentile deepens the tenant base
- Manageable rent-to-income dynamics aid retention and leasing consistency
- Risks: projected population contraction, limited amenities, and metro-relative safety considerations