| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Best |
| Demographics | 60th | Best |
| Amenities | 35th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1200 Jewell Dr, Watertown, NY, 13601, US |
| Region / Metro | Watertown |
| Year of Construction | 1998 |
| Units | 44 |
| Transaction Date | 1996-06-06 |
| Transaction Price | $100,000 |
| Buyer | MCGRANN KARL F |
| Seller | JANVID CORP |
1200 Jewell Dr, Watertown NY — Renter-Driven Multifamily Investment
Neighborhood occupancy has improved over five years and remains competitive among Watertown-Fort Drum submarket areas, supporting stable cash flow, according to WDSuite’s CRE market data.
This inner-suburb location balances daily convenience with steady renter demand. Grocery and pharmacy access rank among the stronger options in the Watertown-Fort Drum metro (both near the front of 68 neighborhoods), and these categories benchmark above national midpoints. By contrast, parks, cafes, and childcare are sparse locally, so on-site amenities and thoughtful resident services can help with retention.
Rents in the surrounding neighborhood sit around national mid-range levels with multi-year growth, while occupancy has trended higher and is competitive among 68 metro neighborhoods. In a 3-mile radius, the share of housing units that are renter-occupied is substantial, providing a meaningful tenant base for multifamily; coupled with a rent-to-income profile near the national middle, this supports lease stability and measured pricing power.
The property’s 1998 vintage is newer than much of the local stock (the neighborhood skews older), offering a relative competitive edge against prewar assets. Investors should still plan for system updates typical of late-1990s construction, but the differential versus older comparables can aid leasing and reduce near-term repositioning needs.
Demographic statistics are aggregated within a 3-mile radius. Over the past five years, total population edged down while household counts inched up, indicating smaller household sizes and a broader count of households. Forward-looking estimates point to further household growth with slightly smaller average household size, which typically expands the renter pool and supports occupancy for well-managed assets. These dynamics, paired with a value-to-income relationship that leans toward a high-cost ownership market locally, suggest continued renter reliance on multifamily housing. This perspective is based on commercial real estate analysis from WDSuite.
Safety indicators present a mixed but improving picture. Overall crime benchmarks modestly better than national averages, while violent and property metrics track closer to national mid-to-lower tiers. Importantly, both violent and property offenses show meaningful year-over-year declines, indicating a favorable directional trend. Compared with other neighborhoods in the Watertown-Fort Drum metro, the area is competitive but not among the very safest; investors should underwrite standard security measures and monitor ongoing trendlines rather than relying on block-level assumptions.
1200 Jewell Dr offers exposure to a renter-supported submarket with improving neighborhood occupancy, middle-of-the-road rent levels, and a tenant base reinforced by accessible daily amenities. The 1998 vintage is newer than much of the surrounding stock, creating relative leasing appeal versus older assets while still warranting targeted capital planning for aging systems. According to CRE market data from WDSuite, household counts within 3 miles have grown modestly despite a slight population dip, and are projected to expand further, which typically supports a larger tenant base and steadier occupancy.
Ownership costs run relatively high versus local incomes, which tends to sustain renter demand, while neighborhood rent-to-income metrics sit near national midpoints—favorable for retention and measured rent growth. Risks center on limited nearby parks and lifestyle amenities and a safety profile that, while improving, remains closer to national mid-to-lower tiers; both can be mitigated with on-site features, resident engagement, and focused property management.
- Competitive neighborhood occupancy with multi-year improvement supports cash flow stability.
- 1998 construction offers an edge versus older local stock with manageable modernization planning.
- 3-mile household growth and smaller household sizes point to a broader renter pool and steady leasing.
- Risks: limited lifestyle amenities nearby and a safety profile closer to national mid-to-lower tiers.