| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 30th | Good |
| Demographics | 70th | Best |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 154 Hailesboro St, Gouverneur, NY, 13642, US |
| Region / Metro | Gouverneur |
| Year of Construction | 1987 |
| Units | 46 |
| Transaction Date | 2014-10-09 |
| Transaction Price | $1,500,000 |
| Buyer | TRS PROPERTIES LLC |
| Seller | YNGH LLC |
154 Hailesboro St, Gouverneur NY Multifamily Investment
Neighborhood occupancy has improved over the past five years and renter concentration sits near one-third of housing units in the area, according to WDSuite’s CRE market data, supporting demand stability for a 46-unit asset in a rural setting.
The property sits in a rural neighborhood of the Ogdensburg–Massena, NY metro with an A- neighborhood rating and a rank of 13 out of 76, placing it in the top quartile among metro neighborhoods based on WDSuite’s CRE market data. While local retail and services are sparse, core needs are typically met along regional corridors, so resident convenience depends more on drive-time access than walkability.
Occupancy for the neighborhood is above the metro median (rank 36 of 76), and the share of renter-occupied units is competitive among Ogdensburg–Massena neighborhoods (rank 22 of 76). For investors, that translates to a workable tenant base and support for leasing continuity in a small-market context.
The average neighborhood building vintage skews older (circa 1925), whereas this asset was built in 1987. Being newer than the surrounding stock can enhance leasing competitiveness; however, systems may still warrant modernization over a hold to sustain performance.
Within a 3-mile radius, demographic data indicate modest population contraction over five years, but household counts are comparatively steadier and projections show households increasing even as population trends edge lower. This pattern suggests smaller household sizes or shifting household composition, which can maintain a tenant pipeline and support occupancy. Median incomes in the neighborhood sit below national benchmarks, but the area’s rent-to-income levels imply manageable affordability pressure, aiding retention and reducing turnover risk.
Home values in the neighborhood are lower relative to national norms, which can introduce some competition from ownership options. Even so, elevated mortgage costs and the convenience of turnkey rentals in a rural employment base often sustain renter reliance on multifamily housing, supporting steady demand and measured pricing power.
Safety indicators point to mixed but generally manageable conditions for investors. The neighborhood’s overall crime rank sits nearer the higher-crime end within the Ogdensburg–Massena metro, signaling that crime levels are higher than many local peers. At the same time, national comparisons are more favorable: violent offense levels register in a high national safety percentile, and property offenses also compare well nationally, according to WDSuite’s CRE market data.
Recent momentum is nuanced: estimates show violent offenses trending down year over year, while property offenses have risen. For underwriting, this combination argues for standard security measures and prudent loss assumptions, while recognizing that national positioning remains comparatively strong even if local ranks are less favorable.
154 Hailesboro St offers a 46-unit footprint in a rural, top-quartile neighborhood for the Ogdensburg–Massena metro, where occupancy trends have strengthened and renter-occupied housing provides a consistent tenant base. The 1987 vintage is newer than much of the surrounding stock, which can support leasing competitiveness, though selective modernization can further differentiate the asset. According to CRE market data from WDSuite, neighborhood occupancy performs above the metro median, reinforcing underwriting for stable cash flow in a smaller market.
Local home values are relatively low versus national norms, which can create some overlap with entry-level ownership; however, steady renter demand, manageable rent-to-income dynamics, and the convenience factor in a rural setting help support retention. Demographic data within a 3-mile radius show softer population trends but potential expansion in household counts, implying a sustained renter pool even as household composition shifts.
- Above-median neighborhood occupancy supports leasing stability
- 1987 vintage offers competitive positioning versus older local stock, with value-add modernization potential
- Renter-occupied share near one-third provides depth to the tenant base in a rural market
- Ownership costs remain relatively accessible, but rental convenience and underwriting discipline can sustain pricing power
- Risk: limited nearby amenities and recent property offense uptick warrant prudent security and expense assumptions