| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Good |
| Demographics | 60th | Best |
| Amenities | 17th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 22479 Colonial Manor Rd, Watertown, NY, 13601, US |
| Region / Metro | Watertown |
| Year of Construction | 1972 |
| Units | 71 |
| Transaction Date | 2016-12-28 |
| Transaction Price | $3,110,000 |
| Buyer | --- |
| Seller | --- |
22479 Colonial Manor Rd Watertown NY Multifamily Opportunity
Neighborhood renter-occupied share sits above the metro median and occupancy is competitive among Watertown–Fort Drum submarkets, supporting demand stability for a 71-unit asset, according to WDSuite’s CRE market data.
Livability indicators point to a suburban setting with balanced demand drivers. The neighborhood carries an A- rating and places competitive among 68 Watertown–Fort Drum neighborhoods on occupancy, with the renter-occupied share above the metro median. For investors, this suggests a deeper tenant base and steadier leasing relative to lower-renter areas.
Local schools average around 3 out of 5 and rank in the top quartile among 68 metro neighborhoods, a positive signal for family-oriented demand. Amenity density is thinner than national norms—limited cafés, groceries, and pharmacies locally—though park access trends above the national median. The amenity mix may limit walk-to retail, but the suburban profile can still support stable tenancy when pricing and unit mix align with renter needs.
Home values are moderate versus national benchmarks, and rent-to-income levels trend favorable for landlords. This combination can support pricing power while keeping retention in focus. At the same time, more accessible ownership options relative to high-cost metros may introduce competition, underscoring the importance of operational execution and product positioning.
Demographic statistics aggregated within a 3-mile radius show a small decline in population alongside a notable increase in households over the last five years, indicating smaller household sizes and an expanding addressable renter pool. Forecasts point to continued household growth, which should expand the tenant base and support occupancy over the medium term. The property’s 1972 vintage is newer than the area’s older housing stock profile, enhancing competitive positioning versus pre-war product while still warranting ongoing system updates or selective renovations to drive rent and retention.
Safety indicators are mixed. Within the Watertown–Fort Drum metro, the neighborhood ranks in the higher (safer) tier—above most of the 68 neighborhoods—while national comparisons are closer to mid-pack. Violent offense levels benchmark in the top third nationally (safer than average), and property offenses hover near the national middle.
Recent year-over-year trends indicate some uptick in estimated violent incidents and property offenses. Investors should monitor trajectory and management practices (lighting, access control, and resident screening) as part of standard risk mitigation rather than assume block-level outcomes.
22479 Colonial Manor Rd is a 71-unit, 1972-vintage asset with average unit sizes around 825 sq. ft., positioned in a suburban neighborhood that is competitive within the Watertown–Fort Drum metro on occupancy and above the metro median for renter-occupied share. Household growth within a 3-mile radius and moderate ownership costs support a durable tenant base and stable leasing. Based on commercial real estate analysis from WDSuite, the local amenity mix is lighter than national averages, but school rankings and park access provide family-friendly fundamentals that can support retention.
Relative to the older regional housing stock, the 1972 vintage offers competitive positioning versus pre-war product, with potential to capture value through system upgrades or targeted renovations. With rent-to-income conditions favorable from a landlord perspective and forecasts calling for more households in the area, the asset’s demand outlook leans constructive, while acknowledging the need to manage amenity-light location factors and monitor crime trends.
- Competitive occupancy and above-median renter-occupied share within the metro support demand stability.
- 1972 vintage is newer than much of the local stock, with value-add potential via system and interior updates.
- Household growth (3-mile radius) expands the tenant base and supports long-run leasing.
- Moderate ownership costs sustain rental reliance but may introduce competition—pricing and product strategy matter.
- Risks: amenity-light location and mixed safety trends require active asset management and resident experience focus.