| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 31st | Fair |
| Demographics | 50th | Good |
| Amenities | 5th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 36421 Penet Square Dr, La Fargeville, NY, 13656, US |
| Region / Metro | La Fargeville |
| Year of Construction | 1989 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
36421 Penet Square Dr La Fargeville Multifamily Investment
Neighborhood occupancy sits in a stronger local tier, according to WDSuite’s CRE market data, and the 1989 vintage is newer than much of the area’s stock, offering relative competitiveness with thoughtful capital planning.
Positioned in the Watertown-Fort Drum, NY metro, this rural location offers a quieter setting with limited nearby retail and services, yet the neighborhood’s occupancy ranks in the top quartile among 68 metro neighborhoods. All occupancy references reflect neighborhood-level performance, not the subject property.
Schools are a relative strength: neighborhood averages sit in the top quartile nationally and among the metro’s top performers, which can support family-oriented renter demand and longer stays. Amenity density (cafes, restaurants, parks, pharmacies) is sparse, so leasing narratives should emphasize practicality and value over walkable convenience.
Within a 3-mile radius, demographics indicate smaller household sizes emerging and projections for more households even as the total population trends lower. This shift can expand the renter pool and support occupancy stability over time, particularly for well-managed, functional units.
Home values are relatively accessible and rent-to-income levels are low in the neighborhood context, which supports retention and measured pricing power. That same accessibility to ownership can create competition, so maintaining an attractive value proposition and solid operations remains important for sustained performance.
Per WDSuite’s CRE market data, the neighborhood compares favorably on violent crime safety, placing in the top quartile nationally, and overall crime is better than the national average. These readings describe the neighborhood, not the specific property.
Recent reporting points to a year-over-year rise in property-related incidents even as violent incident rates have been trending lower. Investors may want to budget for lighting, access control, and resident engagement while monitoring direction rather than relying on a single snapshot.
This 24-unit property, built in 1989, is newer than much of the local housing stock and can compete well against older product with selective upgrades. Neighborhood occupancy performance is in a stronger local tier and trending upward, and, according to CRE market data from WDSuite, low rent burdens support retention and provide room for thoughtful rent repositioning tied to improvements.
The rural context limits amenity density but is offset by strong neighborhood school ratings and a projected shift toward more, smaller households within a 3-mile radius—favorable for multifamily demand. Accessible ownership alternatives can create competition, so the investment case centers on durable operations, value-add execution, and disciplined lease management.
- 1989 vintage offers competitive positioning versus older local stock, with targeted capex to modernize.
- Neighborhood occupancy sits in a stronger metro tier, supporting lease stability at the area level.
- Low rent-to-income levels support retention and measured pricing power aligned with upgrades.
- School strength and smaller household sizes within 3 miles support a resilient renter base.
- Risk: limited amenity density and accessible ownership options require careful positioning and operations.