| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 26th | Poor |
| Demographics | 67th | Best |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11424 State Route 12E, Chaumont, NY, 13622, US |
| Region / Metro | Chaumont |
| Year of Construction | 1983 |
| Units | 23 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
11424 State Route 12E, Chaumont NY Multifamily Investment
Investor focus: small-unit count asset in a rural Jefferson County submarket where renter demand is modest but stable, according to WDSuite’s CRE market data. Location fundamentals and low rent-to-income levels suggest room for disciplined revenue management rather than aggressive lease-up assumptions.
The property sits in a Rural neighborhood within the Watertown–Fort Drum, NY metro, rated B- and ranked 34 among 68 metro neighborhoods. Local amenities are sparse, and daily-needs retail is limited, so resident appeal hinges more on quiet setting and commute patterns than on walkable conveniences. For underwriting, assume auto-oriented living and lower impulse traffic to on-site leasing.
Neighborhood housing stock skews older (average 1972), while the subject s 1983 vintage is newer than the area norm. That positioning can be competitive versus older rentals, though investors should budget for targeted modernization and aging system replacements to sustain occupancy and justify rent premiums over legacy product.
Renter-occupied housing is a small share in this neighborhood (around one-tenth of units), indicating a limited but identifiable renter base. Within a 3-mile radius, population and households have increased and are projected to continue expanding through 2028, supporting a gradually larger tenant base and occupancy stability. Median household incomes in the area have risen, and the neighborhood s low rent-to-income profile points to limited affordability pressure a favorable backdrop for retention and measured rent steps. These dynamics are consistent with broader rural metro patterns, based on CRE market data from WDSuite.
Relative to national and metro benchmarks, this neighborhood reads as ownership-heavy with low measured occupancy at the neighborhood level; for investors, that implies careful unit turns and marketing are important to capture a thinner pool of renters. That said, multifamily property research indicates that income growth and household gains within the 3-mile radius can offset some absorption risk over a longer hold.
Safety trends are mixed in context: within the Watertown–Fort Drum metro, the neighborhood s crime rank (2 out of 68) signals higher crime relative to local peers, yet nationally it compares favorably, landing in the top quartile for safety by percentile. Recent year-over-year estimates also point to meaningful declines in both violent and property offense rates, which supports a cautiously improving risk profile in comparison to broader U.S. neighborhoods.
For investors, this translates to underwriting that recognizes above-metro crime positioning but acknowledges national-level competitiveness and recent downward momentum. Property-level security, lighting, and access controls remain practical levers to enhance resident experience and support retention.
Built in 1983 with approximately 23 units, the asset is relatively newer than the neighborhood s older housing base, creating a practical edge over legacy stock while still warranting selective capital upgrades. Within a 3-mile radius, population and households are growing and are projected to expand further, which can support a larger tenant base and steadier occupancy over time. Low rent-to-income conditions suggest manageable affordability pressure and potential for disciplined rent optimization, according to CRE market data from WDSuite.
Risks center on a small renter pool in an ownership-heavy, rural submarket and limited amenity depth, which can slow leasing velocity and require more intentional marketing. Offsetting factors include rising local incomes, improving safety trends on a national comparison, and the subject s competitive vintage, all of which can underpin retention and incremental revenue growth with targeted renovations.
- 1983 vintage is newer than neighborhood average, enabling competitive positioning with selective modernization
- 3-mile radius shows population and household growth, supporting a gradually expanding renter base
- Low rent-to-income profile supports retention and measured rent steps with prudent lease management
- Nationally competitive safety positioning with recent declines in estimated offense rates
- Risk: ownership-heavy area with limited amenities may temper leasing velocity and require focused marketing