| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Good |
| Demographics | 14th | Poor |
| Amenities | 65th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 28 Munson St, Potsdam, NY, 13676, US |
| Region / Metro | Potsdam |
| Year of Construction | 1981 |
| Units | 71 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
28 Munson St, Potsdam NY Multifamily Opportunity
Renter-occupied housing is significant in the surrounding neighborhood, supporting a stable tenant base even as overall occupancy varies, according to CRE market data from WDSuite. The property’s 71 units position it to capture steady demand in an Inner Suburb setting with everyday amenities nearby.
The neighborhood surrounding 28 Munson St is rated A and ranks 9th out of 76 neighborhoods in the Ogdensburg-Massena metro—placing it in the top quartile locally. Restaurant density ranks 2nd of 76 and is in the 88th percentile nationally, with grocery, pharmacy, and park access also testing above metro medians. These everyday amenities support renter convenience and leasing appeal.
Renter concentration is elevated: about half of housing units are renter-occupied, ranking 7th of 76 and in the upper national percentiles. For investors, that indicates a deeper pool of prospective tenants and potential resilience across leasing cycles. Neighborhood occupancy is measured at the neighborhood level (not this property) and has fluctuated; prudent underwriting should assume variability rather than straight-line stability.
Within a 3-mile radius, population has contracted over the past five years while the number of households increased, implying smaller household sizes and a shifting renter pool. Forward-looking data points to continued household growth and higher incomes by mid‑decade, which can support rent levels and occupancy for well-positioned assets.
Home values in the area are relatively accessible compared with many U.S. markets, which can introduce some competition from entry-level ownership. At the same time, a rent-to-income profile near 0.21 suggests manageable affordability pressure for renters, supporting retention when paired with responsive lease management.
Comparable neighborhood safety benchmarks are not available in the current dataset for this location. Investors typically compare neighborhood-level crime trends to metro and national references and review recent local reports to gauge trajectory. Use on-the-ground diligence to corroborate perceptions and align security measures with resident expectations.
Built in 1981, this 71‑unit asset is newer than much of the local housing stock (which skews pre‑war), offering relative competitiveness versus older rentals while still benefiting from targeted modernization or systems updates where needed. The surrounding neighborhood shows strong renter orientation and daily‑needs amenities, supporting tenant acquisition and retention. Based on CRE market data from WDSuite, neighborhood occupancy has varied, so lease-up assumptions should remain conservative, but the renter pool expansion expected at the household level provides a counterweight to headline population trends.
Ownership costs are comparatively accessible in this market, which can moderate pricing power; however, a balanced rent-to-income profile and rising income projections within 3 miles point to sustainable demand for quality rentals. The thesis favors durable cash flow with selective value‑add: modernize interiors and operations to differentiate from older comparables and maintain competitiveness as household counts grow.
- 1981 vintage offers competitive positioning versus older neighborhood stock, with focused capex to modernize key systems/interiors.
- Elevated renter-occupied share supports a deeper tenant base and leasing durability.
- Amenity access (food, grocery, pharmacy, parks) enhances day‑to‑day livability and retention.
- Household growth and income gains within 3 miles support occupancy stability and rent performance over time.
- Risks: neighborhood occupancy variability and competition from ownership may temper near‑term pricing power—underwrite conservatively.