| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Good |
| Demographics | 30th | Poor |
| Amenities | 31st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 192 Saratoga St, Cohoes, NY, 12047, US |
| Region / Metro | Cohoes |
| Year of Construction | 2012 |
| Units | 42 |
| Transaction Date | 2006-09-06 |
| Transaction Price | $185,000 |
| Buyer | COHOES GARDNES LLC |
| Seller | SHELCO PROPERTIES LLC |
192 Saratoga St Cohoes Multifamily Investment Outlook
Renter-occupied housing is elevated at the neighborhood level, supporting a deeper tenant base even as overall occupancy trends run below national norms, according to WDSuite s CRE market data. Focus centers on stable workforce demand drivers rather than luxury positioning.
The property sits in an Inner Suburb of the Albany-Schenectady-Troy metro with a neighborhood rating of C+ (ranked 198 of 295 metro neighborhoods), placing it below the metro median. For investors, this implies an operational focus on durable tenant demand and careful expense management rather than premium-rent positioning.
Local amenity access skews practical: grocery presence is competitive among Albany-Schenectady-Troy neighborhoods and in the top decile nationally, while restaurant density is similarly strong. By contrast, parks, pharmacies, and cafes are limited within the immediate neighborhood. Taken together, residents have convenient everyday retail and food options, but fewer lifestyle amenities, which can shape marketing, tenant retention strategies, and achievable rent premiums.
The renter-occupied share of housing units is high for the neighborhood (top quartile in the metro), supporting a larger tenant pool for multifamily. At the same time, the neighborhood s occupancy level is below national norms, so leasing plans should prioritize renewals and targeted concessions during shoulder seasons to maintain stability.
Within a 3-mile radius, demographics show modest population growth and an increase in households, with average household size trending smaller. This points to a gradual expansion of the renter pool and supports occupancy stability over time. Median contract rents in the 3-mile area remain accessible relative to larger Northeast metros, though rent-to-income ratios signal some affordability pressure; investors should plan for pragmatic renewal strategies to preserve retention.
For-sale housing context is mixed: neighborhood home values are lower than many U.S. areas, which can create some competition from ownership options. However, the value-to-income relationship ranks high nationally, indicating a relatively high-cost ownership market relative to local incomes; this tends to sustain reliance on rental housing and supports multifamily demand.
Standardized neighborhood crime metrics are not available in WDSuite for this location at this time. Investors typically supplement market underwriting with local public safety data and on-the-ground observations to assess trends and their potential impact on leasing and retention.
The area is supported by regional corporate employers that help underpin workforce housing demand and commute convenience, including IBM and McKesson.
- IBM — technology & services (8.9 miles)
- McKesson — healthcare distribution (38.8 miles)
Built in 2012, the property is newer than much of the surrounding housing stock, which is predominantly early-20th-century vintage. This positioning can enhance competitiveness versus older inventory and may temper near-term capital needs, while still leaving room for selective upgrades to drive rentability. According to CRE market data from WDSuite, the neighborhood shows a high renter-occupied share that supports tenant depth, even as overall occupancy trends run below national benchmarks, calling for disciplined leasing and renewal management.
Within a 3-mile radius, modest population growth and a rising household count point to a gradually expanding renter base. Everyday retail access (notably groceries and dining) supports livability, while fewer parks and cafes suggest limited lifestyle amenities. Ownership dynamics are mixed: lower absolute home values can compete with rentals, yet ownership relative to income is elevated, which tends to reinforce reliance on multifamily housing. Underwriting should incorporate measured rent growth assumptions and attention to affordability to sustain retention.
- 2012 vintage offers a relative edge versus older neighborhood stock with manageable near-term capex and selective value-add potential.
- High renter-occupied share at the neighborhood level supports a deeper tenant base for leasing and renewals.
- 3-mile population and household growth indicate gradual renter pool expansion that can support occupancy stability.
- Everyday retail strength (groceries, dining) aids livability; limited parks/cafes temper achievable premiums but align with workforce positioning.
- Risks: neighborhood occupancy below national norms and affordability pressure suggest conservative rent growth and focused retention strategies.