| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 29th | Fair |
| Demographics | 26th | Poor |
| Amenities | 9th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 845 Starbuck Ave, Watertown, NY, 13601, US |
| Region / Metro | Watertown |
| Year of Construction | 2007 |
| Units | 55 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
845 Starbuck Ave, Watertown NY Multifamily Investment
Built in 2007 with mid-size scale, this asset competes well against older local stock while benefiting from a broad renter base; according to WDSuite’s CRE market data, neighborhood metrics point to stable renter demand supported by accessible rents.
The property sits in an inner-suburb setting of the Watertown–Fort Drum, NY metro where the surrounding neighborhood skews older in vintage, making a 2007 build relatively competitive versus much of the nearby housing stock. Neighborhood occupancy is measured for the neighborhood, not the property; it trends below national norms, so leasing strategy should emphasize capture of the existing tenant base and retention through service and renewal management.
Livability drivers are mixed. Restaurants are present at a moderate density for the area, but cafes, grocery, parks, and pharmacies are sparse within the immediate neighborhood. Average school ratings in the neighborhood track below national benchmarks, which may tilt demand composition toward singles, couples, and workforce renters rather than school-driven movers.
Tenure patterns indicate meaningful renter concentration at the neighborhood level compared with national averages, signaling a workable depth of renter-occupied units and supporting multifamily demand. Within a 3-mile radius, demographics show a slight population decline in recent years but an increase in households and smaller average household sizes, which typically expands the renter pool for mid-size units and supports occupancy stability.
Affordability remains a relative strength. Neighborhood home values are low in national context, which can create some competition with entry-level ownership, yet median contract rents run near the middle of national distributions and rent-to-income readings indicate manageable affordability pressure. For investors, that mix suggests steady lease retention with measured, operations-led rent growth rather than outsized pricing power.
Safety indicators are mixed but improving. The neighborhood sits around the middle of national comparisons overall, with property and violent offense levels that are neither outliers on the high nor low end. Recent year-over-year trends show notable declines in both violent and property offenses, indicating momentum in the right direction relative to neighborhoods nationwide.
As with all asset-level underwriting, evaluate block-level patterns, lighting, and sightlines, but current directional trends suggest conditions that are becoming more competitive among Watertown–Fort Drum neighborhoods when viewed against national trajectories.
This 55-unit, 2007-vintage property offers durable positioning in a neighborhood dominated by older housing, creating relative appeal without the immediate CapEx profile of pre-2000 stock. Household growth within a 3-mile radius and smaller household sizes point to a larger tenant base for mid-size units, while renter concentration at the neighborhood level supports ongoing leasing. According to CRE market data from WDSuite, neighborhood occupancy trails national benchmarks, but accessible rents and a broad renter pool support stabilization through focused operations.
Home values in the area are low by national standards, which can introduce some competition from ownership; however, rent levels trend moderate and rent-to-income readings suggest manageable affordability pressure, aiding retention. Amenities are limited locally, so asset-level convenience and maintenance reliability will be important to sustain demand and reduce turnover.
- 2007 construction provides competitive positioning versus older neighborhood stock and reduces near-term modernization needs.
- Renter-occupied housing concentration and rising household counts within 3 miles expand the tenant base for mid-size units.
- Moderate rents and manageable rent-to-income dynamics support retention-focused revenue growth.
- Operational upside: neighborhood occupancy runs below national norms, creating room for value through leasing, renewals, and service execution.
- Risks: amenity scarcity nearby, softer school ratings, and entry-level ownership competition may temper pricing power.