| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 41st | Best |
| Demographics | 40th | Fair |
| Amenities | 11th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 275 W Barney St, Gouverneur, NY, 13642, US |
| Region / Metro | Gouverneur |
| Year of Construction | 1975 |
| Units | 50 |
| Transaction Date | 1999-08-30 |
| Transaction Price | $65,000 |
| Buyer | GOUVERNEUR SENIOR HOUSING ASSOCIATES LP |
| Seller | HENDRICK LELAND D |
275 W Barney St Gouverneur NY Multifamily Opportunity
Renter demand in the neighborhood is relatively deep with a high share of renter-occupied units, supporting a consistent tenant base, according to WDSuite’s CRE market data. Occupancy trends and local incomes suggest steady operations with attention to lease management and renewal strategy.
This is a rural location within the Ogdensburg–Massena metro, where neighborhood fundamentals are competitive among 76 metro neighborhoods (overall rank 23 of 76; B+ rating). Daily-needs retail is limited, though pharmacy access tests better than many rural peers. Amenities and food options are sparse, which places more weight on on-site services and property management to support retention.
The neighborhood’s renter concentration is high (renter-occupied share ranks near the top of local peers and in the upper national percentiles), indicating depth in the tenant base for multifamily. Neighborhood occupancy is in the mid-80s, a level that has eased over five years, so investors should underwrite modest lease-up velocity and proactive renewal tactics rather than outsized absorption assumptions.
The property’s 1975 vintage is newer than the area’s older housing stock, which can help competitive positioning against pre-war inventory. That said, systems and finishes may still warrant targeted capital improvements to drive rent readiness and reduce near-term maintenance.
Within a 3-mile radius, population has softened in recent years but is projected to grow over the next five years, alongside an increase in households. This points to a gradual renter pool expansion that can support occupancy stability. Median contract rents in the 3-mile area remain modest relative to many metros, and with a rent-to-income profile that requires careful pricing and renewal management, per commercial real estate analysis from WDSuite.
Safety indicators are mixed but comparatively favorable on serious offenses. The neighborhood tests around the national middle on overall crime, yet violent offense rates are strong, placing the area in a high national percentile for safety on that dimension. This positions the neighborhood above many peer areas within the metro on perceived personal safety while still warranting routine property-level security best practices.
Property offenses trend better than many locations nationally as well, though recent-year movement has been variable. Investors should evaluate current incident trends and coordinate with local stakeholders to maintain deterrence measures, balancing operating costs with resident experience.
Built in 1975, the asset is relatively newer than much of the local housing stock, creating a window for selective value-add to strengthen competitiveness versus older inventory. Renter demand is supported by a high neighborhood share of renter-occupied units, while occupancy trends indicate the need for hands-on leasing and renewal execution rather than expecting outsized absorption. According to CRE market data from WDSuite, local amenities are limited, so on-site convenience and service consistency can be differentiators for retention.
Within a 3-mile radius, recent softness in population contrasts with a forward view that indicates household growth, pointing to a gradual expansion of the renter pool and support for occupancy stability. Modest area rents relative to incomes suggest manageable pricing power if paired with unit-level improvements and disciplined lease management, though investors should remain mindful of income variability and amenity constraints typical of rural submarkets.
- 1975 vintage offers value-add potential versus older neighborhood stock
- High renter-occupied share supports tenant base depth and renewal opportunity
- Projected household growth within 3 miles supports gradual renter pool expansion
- Modest rents provide room for strategic upgrades and disciplined pricing
- Risks: limited amenities, below-metro incomes, and easing occupancy require active management