| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 23rd | Poor |
| Demographics | 36th | Poor |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 500 Lexington Ave, Antwerp, NY, 13608, US |
| Region / Metro | Antwerp |
| Year of Construction | 1989 |
| Units | 25 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
500 Lexington Ave Antwerp Multifamily Investment Outlook
Neighborhood metrics point to steady renter demand supported by low rent-to-income levels and recent occupancy gains at the neighborhood level, according to WDSuite’s CRE market data.
Set in a rural pocket of Jefferson County within the Watertown–Fort Drum, NY metro, the neighborhood carries a C- rating and ranks 63 out of 68 metro neighborhoods, indicating an area where investor selectivity matters. Local retail and service density is limited, so residents typically rely on regional corridors for groceries, restaurants, and daily needs rather than walking access.
Neighborhood occupancy is in the low-to-mid 80s with a multi-year uptick, while the share of renter-occupied housing in the neighborhood sits near one-quarter of units. For investors, this suggests a modest but present tenant base that can support smaller multifamily assets, with lease-up dynamics driven more by regional employment access and price-to-value than by amenity-driven walkability.
Home values in the neighborhood are lower than many U.S. areas, which can introduce some competition with entry-level ownership; however, rent-to-income levels remain comparatively comfortable. That combination tends to support retention and collections management rather than near-term pricing power, a useful framing for underwriting.
The asset’s 1989 vintage is newer than the neighborhood’s older housing stock. That relative youth can enhance competitive positioning against pre-war product, while still calling for targeted capital planning around systems, interiors, and curb appeal to capture value-add upside over a hold period.
Within a 3-mile radius, WDSuite’s data shows recent population and household growth with a forecast for further expansion alongside gradually smaller household sizes. For multifamily, that trajectory implies a slowly expanding tenant pool and supports occupancy stability in a submarket where affordability is a key driver.
According to WDSuite’s data, the neighborhood trends favorably in national comparisons: violent-offense metrics are in the top decile for safety nationwide, and property-offense indicators are also above national averages for safety with year-over-year improvement. At the metro level, results vary by category, so investors should pair these directional signals with standard due diligence and site-level observation.
Employment in the broader Watertown–Fort Drum area underpins renter demand through regional commuting, but no qualified nearby anchor employers with verifiable distances are available in the current dataset.
This 25-unit property, built in 1989 with average unit sizes near 794 square feet, competes against an older local housing base and benefits from comparatively comfortable rent-to-income levels in the neighborhood. Based on CRE market data from WDSuite, neighborhood occupancy has improved in recent years, while within a 3-mile radius both households and incomes have been rising, supporting a larger tenant base and reinforcing leasing stability.
The rural context limits walkable amenities, which concentrates demand around value, space, and commute practicality. Lower neighborhood home values can temper pricing power by offering ownership alternatives, but they also point to manageable rent burdens that aid retention. With a late-1980s vintage, targeted renovations and systems updates present a clear value-add path relative to older nearby stock.
- Newer 1989 vintage versus older neighborhood stock supports competitive positioning
- Neighborhood occupancy trending upward, supporting lease stability
- 3-mile radius shows population and household growth, expanding the renter pool
- Comfortable rent-to-income levels favor retention and collections management
- Risk: limited amenity density and accessible ownership options may moderate pricing power