| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Best |
| Demographics | 78th | Best |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 305 Fisher Blvd, Delmar, NY, 12054, US |
| Region / Metro | Delmar |
| Year of Construction | 2002 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
305 Fisher Blvd Delmar Multifamily — 2002 Vintage, 24 Units
Neighborhood occupancy is in the mid-to-high 90s, supporting stable leasing, while the 2002 build offers relative competitiveness versus older local stock based on CRE market data from WDSuite.
The property sits in an A+ rated, suburban neighborhood ranked 9 out of 295 across the Albany-Schenectady-Troy metro, placing it among the top quartile nationally for overall neighborhood performance. According to WDSuite’s CRE market data, neighborhood occupancy trends near the high 90s (ranked 57 of 295; 85th percentile nationally), and roughly 32.7% of housing units are renter-occupied—indicating a meaningful tenant base without overreliance on rentals.
Livability indicators are strong for families and professionals. Average school ratings are a standout (ranked 8 of 295; 84th percentile nationally), which can reinforce longer tenancy and lease retention. Amenities are mixed: cafes, parks, and pharmacies index above the national median (each in the low-to-mid 70s percentiles), while immediate grocery options are limited in the neighborhood, suggesting residents may rely on nearby submarkets for full-service shopping.
Demographics aggregated within a 3-mile radius show steady population growth over the past five years alongside a rise in households, pointing to a gradually expanding renter pool. Looking ahead, WDSuite’s outlook indicates further population and household gains by 2028, which would enlarge the tenant base and support occupancy stability. Household incomes are comparatively high for the area, and neighborhood rent-to-income levels around 0.16 imply manageable affordability pressure that can aid renewals while allowing measured rent-setting.
Home values in the neighborhood are elevated relative to many national peers, which tends to sustain reliance on multifamily rentals for those prioritizing flexibility. Notably, the average neighborhood construction year skews older (1960), while 305 Fisher Blvd’s 2002 vintage positions it as newer than much of the competitive set—supporting leasing appeal today while still warranting selective modernization planning for systems and finishes.
Comparable neighborhood crime statistics are not available in WDSuite’s current dataset for this location. Investors typically benchmark neighborhood safety against metro averages and multi-year trends when the data is accessible, and corroborate with third-party sources and owner/operator feedback prior to underwriting.
The area draws on a diversified Albany metro employment base, with proximity to regional corporate offices that support renter demand through commute convenience and professional services employment, including IBM.
- IBM — technology & services (6.5 miles)
305 Fisher Blvd offers a balanced thesis anchored by neighborhood stability and a 2002 vintage that competes well against older local stock. Neighborhood occupancy remains strong and renter-occupied housing share signals a solid tenant base, while household incomes in the surrounding 3-mile radius support rent levels without acute affordability pressure. According to CRE market data from WDSuite, the submarket’s performance sits competitively within the metro on occupancy and NOI per unit, reinforcing durable operations over a full cycle.
Forward-looking demographics indicate continued population and household growth within 3 miles, which can enlarge the renter pool and support leasing. With neighborhood home values elevated versus many national peers, multifamily remains a practical housing option for residents who prioritize flexibility, aiding retention. Given the 2002 construction year, investors should plan for targeted modernization of building systems and interiors to preserve competitiveness and capture value-add upside.
- Occupancy strength and competitive NOI trends in a top-ranked Albany metro neighborhood
- 2002 vintage is newer than most nearby stock, supporting leasing appeal with selective renovation upside
- 3-mile demographic growth expands the tenant base and supports long-term demand
- Elevated ownership costs locally help sustain reliance on rentals, aiding retention and pricing power
- Risks: limited immediate grocery options and potential affordability pressure if rents rise faster than incomes; plan capex for 2002-era systems