| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 34th | Fair |
| Demographics | 62nd | Best |
| Amenities | 7th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 200 W Grove St, Dexter, NY, 13634, US |
| Region / Metro | Dexter |
| Year of Construction | 1978 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
200 W Grove St Dexter, NY Multifamily Investment
Occupancy in the surrounding neighborhood sits near the metro midpoint with steady renter demand supported by favorable rent-to-income dynamics, according to WDSuite’s CRE market data. In a rural setting with limited amenities, affordability factors are the primary driver of retention and leasing stability.
200 W Grove St is in Dexter, within the Watertown–Fort Drum, NY metro. The immediate area is rural with limited retail and services density, so housing fundamentals and commute patterns matter more than lifestyle amenities for leasing. Neighborhood occupancy is competitive among Watertown–Fort Drum’s 68 neighborhoods and sits close to the national midpoint, a profile that typically supports stable operations when underwriting.
Vintage and positioning: built in 1978, the property is newer than the neighborhood’s older housing stock (average vintage skewing mid-20th century). That positioning can be competitive versus legacy assets, though investors should plan for selective system upgrades and common-area refresh to keep pace with modern renter expectations.
Tenure and demand: within a 3-mile radius, approximately 37% of housing units are renter-occupied. This renter concentration indicates a defined—though not dominant—tenant base, which supports ongoing demand for smaller multifamily assets while placing a premium on unit quality and management for retention.
Demographics (3-mile radius): households have expanded modestly in recent years despite a flat overall population, pointing to smaller household sizes and a gradual increase in housing demand. Looking ahead, forecasts show growth in both population and household counts through the next five years, which should translate into a larger tenant base and support occupancy stability.
Affordability context: local home values are moderate for the region, and rent-to-income ratios in the neighborhood are low. For investors, this suggests manageable affordability pressure, potentially aiding lease retention while leaving room for disciplined rent optimization where renovations enhance value.
Safety trends are comparatively favorable at the national level. WDSuite’s data indicate violent incidents are in the higher safety tier nationally (top decile) and property incidents trend better than average. Both categories show year-over-year declines, which supports operating stability and may reduce turn-related risk when paired with effective on-site management.
At the metro scale, results can vary by neighborhood, so investors should validate block-by-block conditions during diligence. The directional trend—improving year over year and stronger than national averages—provides a constructive backdrop for long-term hold assumptions.
This 20-unit asset built in 1978 sits in a rural Dexter location where neighborhood occupancy is competitive for the Watertown–Fort Drum metro and near the national midpoint. The property’s vintage is newer than much of the surrounding housing stock, creating a practical edge over older inventory while still warranting targeted capital planning for aging systems and common-area modernization. Low rent-to-income ratios and moderate ownership costs reinforce renter reliance on multifamily, supporting retention and measured pricing power as units are improved. Based on CRE market data from WDSuite, the area’s livability is driven more by housing fundamentals than amenities, favoring durable, well-managed operations.
Within a 3-mile radius, households have increased even as population was largely flat, and forward projections show both population growth and a meaningful rise in household counts over the next five years. That points to a larger tenant base and supports occupancy stability for smaller multifamily, especially where value-add upgrades elevate unit appeal above aging comparables.
- Competitive neighborhood occupancy profile in a rural submarket supports steady operations
- 1978 vintage offers relative positioning versus older stock with clear value-add upside
- Low rent-to-income dynamics and moderate ownership costs underpin renter demand and retention
- 3-mile forecasts point to growth in households, expanding the renter pool and supporting occupancy
- Risks: limited local amenities and rural setting require disciplined asset management and targeted CapEx to drive rent lifts