| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Good |
| Demographics | 70th | Good |
| Amenities | 30th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1948 Central Ave, Colonie, NY, 12205, US |
| Region / Metro | Colonie |
| Year of Construction | 1983 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1948 Central Ave, Colonie NY Multifamily Investment
Neighborhood occupancy is strong and above the metro median, supporting steady leasing, according to WDSuite s CRE market data. This positioning suggests resilient tenant demand at the neighborhood level rather than the property specifically.
Set in a suburban pocket of Colonie within the Albany Schenectady Troy metro, the neighborhood carries an A- rating and ranks in the top quartile among 295 metro neighborhoods, per WDSuite. Occupancy at the neighborhood level is elevated relative to the metro median, signaling stable rent rolls and lower downtime risk for comparable multifamily assets.
Everyday conveniences are accessible: cafes score competitively locally (top-tier rank within the metro) and pharmacies are also strong, while grocery access trends above the metro median. School quality sits in the top quartile among 295 metro neighborhoods, which can support family-oriented renter demand and longer stays.
The property s 1983 vintage is newer than the neighborhood s average construction year (1970). For investors, that typically translates to a relative competitiveness edge versus older stock, while still warranting capital planning for aging systems and potential value-add upgrades.
Tenure patterns indicate a lower renter concentration at the immediate neighborhood level compared with more rental-heavy submarkets, suggesting a shallower but often more stable tenant base. Within a 3-mile radius, WDSuite s demographics show households have grown in recent years and are projected to rise further by 2028 even as average household size trends lower a setup that generally expands the renter pool and supports occupancy stability for well-located assets. Median rents in the 3-mile area have risen over the past five years with modest growth expected ahead, while a favorable rent-to-income profile at the neighborhood level supports lease retention and disciplined pricing power.
Safety compares favorably in a metro context: the neighborhood s crime rank sits within the top quartile among 295 Albany Schenectady Troy neighborhoods. Nationally, both violent and property offense measures trend above the median for safety. Recent year-over-year changes indicate some volatility, so prudent underwriting should account for trend monitoring rather than relying on a single-year snapshot.
Regional employers help underpin renter demand through steady white-collar and healthcare-related roles with commutable access. Notable names include IBM and McKesson, which provide diversified employment drivers that can support leasing and retention.
- IBM technology & corporate offices (8.1 miles)
- McKesson healthcare distribution & corporate offices (42.0 miles)
This 32-unit asset benefits from neighborhood fundamentals that are above the metro median on occupancy, with a top-quartile overall neighborhood rating among 295 Albany Schenectady Troy neighborhoods. According to CRE market data from WDSuite, the area shows durable demand signals including steady rents and a favorable rent-to-income profile that can support pricing discipline and retention. The 1983 vintage is newer than local averages, offering relative competitiveness versus older stock while still presenting pragmatic value-add potential through targeted modernization.
Within a 3-mile radius, households have increased and are projected to expand further by 2028 as average household size declines a combination that typically enlarges the tenant base and supports occupancy stability. Ownership costs in the area are not extreme by national standards, which can create some competition for renters, but the neighborhood s stable demand, commuting access, and services density help underpin multifamily performance.
- Neighborhood occupancy above the metro median supports stable rent rolls
- 1983 vintage offers relative competitive positioning with value-add upgrade potential
- 3-mile household growth and smaller household sizes point to a larger renter pool
- Favorable rent-to-income profile supports retention and disciplined pricing
- Risks: some competition from ownership options and recent volatility in reported offense trends