| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Best |
| Demographics | 33rd | Poor |
| Amenities | 11th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 201 Emjay Way, Carthage, NY, 13619, US |
| Region / Metro | Carthage |
| Year of Construction | 2008 |
| Units | 32 |
| Transaction Date | 2007-11-27 |
| Transaction Price | $145,000 |
| Buyer | CARTHAGE APARTMENTS HOUSING |
| Seller | TAMARACK ASSOCIATES |
201 Emjay Way, Carthage NY Multifamily Investment
Neighborhood occupancy is competitive for the metro and renter-occupied housing is elevated, supporting a durable tenant base, according to WDSuite s CRE market data. This positioning favors steady leasing in a rural submarket where newer stock can stand out.
The property sits in a rural Carthage neighborhood within the Watertown Fort Drum, NY metro that rates a B overall. Neighborhood occupancy ranks 14 out of 68, which is competitive among Watertown Fort Drum neighborhoods and above the national median (63rd percentile), based on CRE market data from WDSuite. For investors, this points to a base case of stable lease-up and retention.
Renter-occupied housing accounts for a high share of units locally (ranked 6 out of 68; 95th percentile nationally). A higher renter concentration generally indicates deeper demand for multifamily product and a broader pool of prospects, which can support occupancy stability and reduce downtime between turns.
Community amenities are limited within the immediate neighborhood by national comparison (low densities of cafes, groceries, and pharmacies), but park access is a relative strength he area ranks 4 out of 68 in the metro and sits in the 68th percentile nationally. For workforce renters, practical access to open space can enhance livability even when retail is sparse.
Within a 3-mile radius, households have grown modestly in recent years while average household size edged down, and projections call for a larger household count by 2028. That outlook suggests a larger tenant base over time, with rent levels that remain accessible relative to local incomes (rent-to-income measures indicate manageable affordability pressure), which can aid lease management and renewal strategy.
Vintage and positioning: The asset built in 2008 is newer than much of the surrounding housing stock (neighborhood average construction year is older). Newer product typically competes well versus pre-war inventory, though investors should plan for mid-life system updates and selective modernization to sustain competitive positioning.
Safety indicators are mixed but generally compare favorably to national norms. Overall crime sits above the national median for safety (58th percentile), and property offenses are in a similar range (62nd percentile), according to WDSuite. Within the metro, the neighborhood s crime ranking is mid-pack (46 out of 68 neighborhoods), indicating conditions that are competitive among Watertown Fort Drum areas but not top-tier.
Trend-wise, estimated property offense rates showed a sharp year-over-year decline, placing the neighborhood near the top of metro peers for improvement (rank 7 out of 68). Violent offense prevalence is comparatively low versus national benchmarks (75th percentile safer), though the recent one-year change indicates volatility that investors should monitor when underwriting security measures and operating reserves.
WDSuite s dataset did not surface a concise set of nearby employers with reliable distance measurements for this address; investors should evaluate local commuting patterns and major demand drivers during due diligence.
201 Emjay Way is a 32-unit multifamily asset delivered in 2008, offering newer-vintage positioning in a rural Carthage neighborhood where much of the surrounding stock is older. Neighborhood occupancy performs competitively within the Watertown Fort Drum metro and above national medians, and the high share of renter-occupied housing supports a deeper tenant pool and leasing resilience. Based on commercial real estate analysis from WDSuite, rents remain relatively accessible to local incomes, which can support retention and steady cash flow management.
Forward-looking demographics aggregated within a 3-mile radius indicate growth in households by 2028, implying a larger renter base over time. While amenities are limited, stronger park access and commute-oriented living can appeal to workforce renters. Key risks include rural amenity depth and monitoring recent safety volatility; mid-life capital planning (systems and common areas) may be prudent for a 2008 vintage to preserve competitive standing.
- Competitive neighborhood occupancy versus metro peers supports leasing stability
- Elevated renter-occupied share indicates depth of tenant demand
- 2008 construction offers relative advantage over older local stock with targeted upgrades
- 3-mile household growth outlook points to a larger renter base by 2028
- Risks: limited nearby amenities and recent safety volatility warrant underwriting buffers