| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Best |
| Demographics | 75th | Best |
| Amenities | 27th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15 Van Evera Dr, Altamont, NY, 12009, US |
| Region / Metro | Altamont |
| Year of Construction | 1991 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
15 Van Evera Dr Altamont Multifamily in High-Occupancy Area
Neighborhood multifamily occupancy is strong and stable, according to WDSuite s CRE market data, supporting durable cash flow potential for a 32-unit asset in suburban Albany County.
Altamont s suburban setting offers quiet residential streets with access to everyday needs, though retail and dining are limited within the immediate neighborhood. Public schools score well (top tier locally, 84th percentile nationally), which can aid retention for family-oriented renter households. Neighborhood occupancy is high (above the metro median and top quartile nationally), indicating steady absorption for existing rental stock rather than frequent turnover.
Renter-occupied housing is a minority share in this neighborhood, pointing to a smaller renter pool than denser Albany submarkets. For investors, that typically translates to steadier but more relationship-driven leasing versus rapid lease-up dynamics. Elevated home values relative to many U.S. neighborhoods can support pricing power for well-positioned rentals, while the modest rent-to-income ratio signals lower affordability pressure and potentially better lease retention.
Demographic statistics are aggregated within a 3-mile radius: population has grown modestly recently, while household counts increased faster, expanding the addressable tenant base. Forward-looking projections show additional population and household growth, which should support occupancy stability even as the area remains primarily owner-occupied. This context, combined with school quality and suburban livability, frames a practical, demand-supported location for small to mid-size multifamily. These dynamics are consistent with regional commercial real estate analysis trends noted by WDSuite.
WDSuite s dataset does not include a comparable crime rank for this neighborhood, so investors should rely on municipal sources and time-series trends for underwriting. As with most suburban locations, operators often focus on standard risk management practices (lighting, access control, and coordination with local authorities) to support resident confidence and retention.
Nearby corporate employment is limited but includes a notable regional technology presence that can support leasing from commuters.
- IBM technology & corporate offices (14.3 miles)
Built in 1991, the property is newer than much of the local housing stock, offering a competitive edge versus older inventory while still presenting selective modernization opportunities for a value-add plan. Neighborhood multifamily occupancy is strong (above metro norms), and household growth within 3 miles points to a gradually expanding tenant base that can support stable leasing. According to CRE market data from WDSuite, local rent levels align with incomes, suggesting manageable affordability pressure and potential for disciplined rent optimization.
Counterbalancing strengths, the area s lower renter concentration means lease-ups may rely more on targeted marketing and renewals than on deep walk-in traffic. Limited immediate retail also places a premium on convenience features and resident services. Overall, the long-term thesis centers on steady occupancy, a family-friendly suburban profile, and renovation-driven NOI gains rather than speculative growth.
- 1991 vintage is competitive locally, with selective upgrades likely to unlock value
- High neighborhood occupancy supports leasing stability versus metro peers
- 3-mile household growth expands the renter pool and underpins retention
- Income levels and rent-to-income dynamics indicate room for disciplined pricing
- Risk: smaller renter-occupied share and limited nearby retail may slow lease-up without focused operations