| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Best |
| Demographics | 63rd | Fair |
| Amenities | 26th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 790 Route 9W, Glenmont, NY, 12077, US |
| Region / Metro | Glenmont |
| Year of Construction | 2000 |
| Units | 113 |
| Transaction Date | 2006-12-01 |
| Transaction Price | $6,530,000 |
| Buyer | TOWN OF BETHLEHEM INDUSTRIAL DEVELOPMENT |
| Seller | AMERICAN HOUSING FOUNDATION INC |
790 Route 9W Glenmont Multifamily Investment Opportunity
Positioned in a suburban Albany submarket with stable renter demand and moderate occupancy, this 113-unit asset offers scale and operational efficiency; according to WDSuite’s CRE market data, neighborhood fundamentals support steady leasing with measured pricing power.
The property sits in a B+ rated, Suburban neighborhood within the Albany–Schenectady–Troy metro, ranked 104 out of 295 neighborhoods — competitive among Albany–Schenectady–Troy neighborhoods. Local operating performance indicators are a relative bright spot: neighborhood NOI per unit trends in the top quartile nationally, according to CRE market data from WDSuite, signaling supportive revenue potential for well-run assets.
Occupancy in the neighborhood is below the national median and has softened over the past five years, which places a premium on asset quality, tenant retention programs, and leasing execution. At the same time, renter-occupied housing share is above the metro median, pointing to a solid tenant base for multifamily product. Median rents and rent-to-income ratios are near national midpoints, suggesting manageable affordability pressure and room for disciplined rent growth where value is demonstrated.
Amenity density is modest. Grocery and pharmacy access track around metro averages, while restaurants, cafes, childcare, and parks are less concentrated than in denser urban nodes. Average school ratings in the neighborhood trail national norms, which can influence unit-mix strategy and marketing toward segments less sensitive to school quality. Investors should expect a car-oriented living pattern and prioritize on-site conveniences to support retention.
Within a 3-mile radius, demographics show near-flat population trends recently alongside an increase in households and smaller average household sizes. Going forward, forecasts indicate a decline in total population but continued growth in household counts, implying more, smaller households and a gradual expansion of the renter pool. Higher local incomes relative to national midpoints support payment capacity, which can aid lease stability for well-maintained properties.
Neighborhood-level crime benchmarks are not available in this dataset for Glenmont. Investors should evaluate broader metro trends and property-level measures, compare against peer submarkets, and review historical incident trends over multiple years for a balanced view of safety.
As with any suburban location, contextual factors such as traffic patterns, lighting, and on-site management practices can influence resident perception and retention. Incorporating third-party security assessments and comparable property reviews can help calibrate expectations.
Nearby corporate offices provide a steady white-collar employment base that supports leasing and retention, led by technology-focused operations within typical commuting distance.
- IBM — technology corporate offices (5.6 miles)
Built in 2000, the property’s vintage is newer than much of the area’s housing stock, enhancing competitive positioning versus older buildings while leaving room for targeted modernization to lift rents and reduce turnover. Scale at 113 units and larger average floor plans support efficient operations and appeal to renters seeking space. According to CRE market data from WDSuite, the neighborhood’s NOI per unit trends rank in the top quartile nationally, while renter concentration is above the metro median — both constructive for demand and revenue durability.
Key watch items include neighborhood occupancy that trails national medians and a thinner amenity mix and school quality versus national benchmarks, which heighten the importance of on-site services and asset upkeep. Ownership costs in the area are moderate by national standards, which can introduce some competition from entry-level ownership, but balanced rent-to-income levels and rising household counts within 3 miles point to a stable tenant base and support for disciplined rent growth.
- 2000 vintage offers competitive positioning versus older local stock, with selective upgrades for value-add upside
- Scale (113 units) and larger average unit sizes support operational efficiency and resident retention
- Top-quartile neighborhood NOI per unit and above-metro renter concentration underpin revenue potential
- Growing household counts within 3 miles expand the renter pool despite flat population trends
- Risk: neighborhood occupancy below national medians and modest amenity/school scores require strong asset management