| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 28th | Fair |
| Demographics | 46th | Good |
| Amenities | 6th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 600 William St, Dexter, NY, 13634, US |
| Region / Metro | Dexter |
| Year of Construction | 1980 |
| Units | 34 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
600 William St Dexter Multifamily Investment Opportunity
Neighborhood occupancy is comparatively stable, supporting consistent leasing conditions according to WDSuite’s CRE market data. The rural setting favors affordability-driven renter demand, with pricing influence shaped more by fundamentals than by amenity premiums.
Located in Dexter within the Watertown–Fort Drum, NY metro, the property sits in a rural neighborhood where day-to-day retail is limited, and residents often rely on nearby town centers for groceries, pharmacies, and services. That scarcity of amenities can moderate turnover-sensitive premiums, but it also keeps demand tied to essential needs and local employment rather than discretionary traffic.
School quality is a relative strength: the neighborhood’s average school rating is among the top quartile nationally and competitive among 68 metro neighborhoods, which can support family-oriented renter retention and longer tenancy cycles. Neighborhood housing occupancy trends point to stability as well, landing in the top quartile among 68 metro neighborhoods and above national medians, a useful backdrop for managing vacancy risk.
Tenure patterns differ by lens. Within a 3-mile radius, roughly one-third of housing units are renter-occupied, indicating a meaningful renter concentration and a workable tenant base for a 30–50 unit asset. In contrast, the immediate neighborhood leans more owner-occupied, so marketing reach and amenities should be calibrated to draw from the broader 3-mile catchment.
Demographics within 3 miles show recent population growth alongside an increase in households, with projections indicating relatively steady population but continued household expansion over the next five years. For multifamily investors, that points to a larger tenant base over time and supports occupancy stability even if population levels flatten. Median contract rents in the area remain accessible relative to incomes, reinforcing lease retention while limiting near-term outsized rent growth.
Home values in the neighborhood are lower than many U.S. areas, which can introduce some competition from ownership options. However, in practice this typically sustains steady demand for well-managed rentals at attainable price points, with pricing power driven by asset condition and operations rather than by scarcity premiums.
Safety indicators are comparatively favorable within the Watertown–Fort Drum metro: the neighborhood ranks near the safer end among 68 metro neighborhoods, placing it above the metro median. At the national level, safety signals are mixed—property offense rates track closer to national middle-ground while violent offense measures sit in stronger percentiles. Recent year-over-year changes show some volatility, so monitoring local trends remains prudent.
Built in 1980, the 34-unit property offers scale for professional management with potential to outperform older local stock. The vintage suggests selective modernization (exteriors, common areas, systems) could enhance competitive positioning against much older neighborhood product while preserving attainable rents. According to CRE market data from WDSuite, neighborhood occupancy trends are comparatively strong versus the metro, providing a supportive backdrop for steady leasing.
Within a 3-mile radius, recent population and household gains—and projections for further household growth—imply a gradually expanding renter pool. Combined with accessible rent levels relative to incomes, this supports retention and consistent absorption for a well-operated asset. The rural setting and limited amenity base point to an operations-first playbook: emphasize reliability, value, and unit quality over lifestyle premiums, with marketing that taps the broader commuter shed.
- 1980 vintage provides value-add and modernization angles versus older neighborhood stock.
- Stable neighborhood occupancy offers a supportive baseline for leasing and retention.
- 3-mile household growth expands the tenant base, reinforcing demand for attainable units.
- Accessible rent-to-income dynamics support retention while limiting aggressive near-term rent lifts.
- Risk: rural amenity scarcity and a more owner-leaning micro-neighborhood may temper premium pricing; performance hinges on asset condition and operations.