| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Best |
| Demographics | 78th | Best |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 101 Cherry Ave, Delmar, NY, 12054, US |
| Region / Metro | Delmar |
| Year of Construction | 1980 |
| Units | 40 |
| Transaction Date | 2022-06-06 |
| Transaction Price | $332,000 |
| Buyer | MERCER TIMOTHY GEORGE |
| Seller | REMO LORRAINE V |
101 Cherry Ave, Delmar NY Multifamily Investment
Neighborhood occupancy remains resilient and above many metro peers, supporting stable leasing conditions according to WDSuite’s CRE market data. Strong schools and steady renter demand signal durable performance at the submarket level, measured for the neighborhood rather than the property.
Delmar is a suburban neighborhood within the Albany–Schenectady–Troy metro, rated A+ and ranked 9 out of 295 metro neighborhoods, indicating competitive positioning among Albany neighborhoods. Schools score well (average 4.0/5; rank 8 of 295), placing education quality in the top quartile nationally, which often supports retention and renter interest for family-oriented product.
Rents and occupancy in the surrounding neighborhood point to balanced fundamentals. The neighborhood s occupancy rate is high with an 85th percentile national standing and ranks 57 of 295 locally, translating to competitive performance among Albany neighborhoods. Median contract rent trends over five years are above the metro median (national percentile 79), while a rent-to-income ratio near the U.S. midpoint suggests manageable affordability pressure that can aid lease stability.
Tenure patterns indicate an owner-leaning area with a renter-occupied share reported at 32.7% for the neighborhood; for investors, that implies a defined but selective renter pool where quality assets can maintain occupancy with targeted positioning. Within a 3-mile radius, population and household counts have increased in recent years with additional growth expected by 2028, expanding the tenant base and supporting occupancy stability. Household incomes in this 3-mile area are high and rising, reinforcing the capacity for renters to absorb market-level rent steps when supported by quality and convenience.
Local amenity density is moderate overall, with cafes, parks, pharmacies, and childcare availability comparing favorably to national averages, while grocery options are thinner within the immediate neighborhood footprint. For multifamily assets, this mix favors car-access convenience but still provides everyday services within short drives. Home values are elevated for the region (national percentile 71), which can sustain renter reliance on multifamily housing and support pricing discipline without overextending rent-to-income levels.
For asset quality context, the average neighborhood construction year skews older (1960), whereas this property was built in 1980. Being newer than much of the surrounding stock can improve competitive positioning versus older assets, although investors should still consider modernization of systems and finishes for long-term performance.
Neighborhood-level crime metrics specific to this area are not available in the current WDSuite dataset. Investors often contextualize safety by reviewing broader municipal trends, touring at multiple times of day, and consulting local agencies to understand recent conditions and how they compare with nearby Albany neighborhoods.
Given the absence of reportable rank or percentile data for this neighborhood, a prudent underwriting approach is to triangulate third-party sources and on-the-ground observations to assess resident perception, property management practices, and any recent changes that could influence leasing and retention.
Proximity to regional employers supports commute convenience for residents, contributing to renter demand and retention. Notable nearby employer:
- IBM — technology & consulting (5.6 miles)
101 Cherry Ave offers a 1980-vintage multifamily asset positioned in a high-performing Delmar neighborhood where occupancy is competitive versus the Albany metro and sits in the top quartile nationally. Home value context and rising household incomes indicate a capable renter base, while the area 19s owner-leaning tenure suggests demand concentrates in well-maintained, professionally managed properties. According to CRE market data from WDSuite, neighborhood rent trends outpace many peers, and per-unit NOI levels in the area are strong relative to the metro, supporting a durable long-term thesis.
Relative to an older local housing stock (average 1960), the 1980 construction provides a competitive edge versus pre-1970s assets, with potential to further enhance performance through targeted modernization of building systems and interiors. Three-mile demographic growth and income gains point to a larger tenant base over the next cycle, helping sustain occupancy and pricing discipline, while the moderate rent-to-income profile supports retention under prudent lease management.
- Competitive neighborhood performance with high occupancy and strong schools supporting leasing stability
- 1980 vintage is newer than much of the area 27s stock, with clear value-add and systems-upgrade pathways
- Growing 3-mile population and rising incomes expand the renter pool and underpin pricing power
- Market context of elevated home values supports sustained renter reliance on multifamily housing
- Risks: thinner grocery amenity density and an owner-leaning tenure base may require sharper marketing and convenience-focused amenities