| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 21st | Fair |
| Demographics | 40th | Fair |
| Amenities | 15th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3 E High St, Norfolk, NY, 13667, US |
| Region / Metro | Norfolk |
| Year of Construction | 1982 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3 E High St Norfolk NY Multifamily Investment
Built in 1982 relative to a much older local housing stock, this 24-unit asset can compete on functionality while the neighborhood s renter concentration supports tenant demand, according to WDSuite s CRE market data. Occupancy trends sit below the metro median, so active leasing and retention programs will matter for stability.
Livability is defined by a rural setting with limited walkable amenities but convenient access to everyday needs. Grocery availability ranks 13 out of 76 metro neighborhoods, which is competitive among Ogdensburg Massena options, while restaurants score 11 of 76. By contrast, cafes, parks, and pharmacies are sparse, consistent with the area 19s rural profile. For investors, this mix suggests value-oriented renters who prioritize space and essentials over lifestyle retail.
Neighborhood occupancy is measured at the neighborhood level, not this property. Current occupancy trends are below the metro median (rank 44 of 76), indicating some softness that may require focused leasing and renewal management. The share of housing units that are renter-occupied is mid-range for the metro (rank 28 of 76; national percentile 58), implying a workable tenant base and demand depth for multifamily without relying on a concentrated renter pool.
The property 19s 1982 construction is newer than the neighborhood 19s average 1928 vintage. That positioning can support competitiveness versus older stock, though investors should still plan for system updates and modernization to meet current renter expectations.
Demographic statistics are aggregated within a 3-mile radius. Over the past five years the local population and household counts contracted, but forward-looking projections indicate potential population growth and an increase in households by the next five-year period, signaling a possible renter pool expansion that can support occupancy stability if realized.
Home values in the neighborhood sit at the lower end nationally, and the rent-to-income ratio trends favorable for renters (higher national percentile), which together point to relatively low affordability pressure. In practice, this can aid lease retention, though more accessible ownership options in the area may moderate pricing power, making asset-specific upgrades and management execution important.
Comparable crime data for this neighborhood is not available in WDSuite for the current period. Investors typically review regional trend indicators and consult public safety sources to contextualize neighborhood conditions alongside property-level operations and tenant feedback.
This 24-unit asset at 3 E High St offers functional 1982 construction in a rural submarket where renter-occupied housing shares are mid-range for the metro and everyday necessities are accessible. According to commercial real estate analysis from WDSuite, neighborhood occupancy trends trail the metro median, so performance hinges on hands-on leasing, retention, and selective upgrades to out-compete older nearby stock.
Investor focus should be on operational execution and value-enhancing improvements: the property 19s newer vintage versus local norms can support leasing, affordability metrics indicate manageable rent burdens that help retention, and medium-term demographic projections within a 3-mile radius point to potential renter pool expansion. Counterbalancing factors include limited lifestyle amenities and more accessible ownership, which may cap rent growth without clear unit quality advantages.
- 1982 vintage competes well versus older neighborhood stock; plan for targeted modernization.
- Mid-range renter concentration supports tenant demand and renewal prospects.
- Favorable rent-to-income dynamics aid retention; pricing power likely depends on upgrades.
- 3-mile projections indicate potential population and household growth supporting occupancy.
- Risks: below-metro occupancy trends, sparse amenities, and competition from more accessible ownership.