| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Best |
| Demographics | 74th | Best |
| Amenities | 37th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 276 Old Loudon Rd, Latham, NY, 12110, US |
| Region / Metro | Latham |
| Year of Construction | 1980 |
| Units | 60 |
| Transaction Date | 2017-11-09 |
| Transaction Price | $229,000 |
| Buyer | JMB HEIGHTS LLC |
| Seller | WILLOUGHBY MAZZEO COMPANY INC |
276 Old Loudon Rd, Latham NY Multifamily Investment
Stabilized renter demand in an inner-suburban pocket with above-metro occupancy supports durable cash flows, according to WDSuite’s CRE market data. Neighborhood-level performance and demographics suggest steady leasing with room for selective upgrades.
The property sits in an Inner Suburb of the Albany-Schenectady-Troy metro that rates A overall and ranks 38 of 295 metro neighborhoods, placing it in the top quartile locally. Neighborhood occupancy is strong at the area level and ranks 61 of 295 (top quartile in the metro) with an 84th percentile standing nationally, signaling tight conditions that tend to support rent collections and retention. Grocery and dining access are competitive among metro peers (grocery rank 65; restaurants rank 68 out of 295), while parks score in the 84th percentile nationally—favorable for day-to-day livability.
Renter-occupied share is elevated for the metro at 53.3% (rank 39 of 295, top quartile; 90th percentile nationally). For investors, that indicates a sizable tenant base and generally deeper leasing pipelines relative to more ownership-heavy areas. Median contract rents in the neighborhood sit above many U.S. areas (67th percentile) while the rent-to-income ratio is moderate at 0.14 (55th percentile), a mix that can help balance pricing power with lease management and retention considerations.
Within a 3-mile radius, population and household counts increased over the past five years (about 4% and 5.5%, respectively) and are projected to expand further by 2028 (population roughly +15% and households roughly +29%). This points to a larger tenant base and potential renter pool expansion, which can support occupancy stability. Income trends are also constructive in the 3-mile view, with median household income rising historically and projected to continue advancing—context investors can incorporate into multifamily property research when assessing rent positioning and renewal strategies.
Vintage matters: neighborhood housing skews older on average (circa 1960), and this 1980 asset is newer than much of the local stock. That relative position can aid competitiveness versus nearby legacy properties, though investors should still plan for system updates or targeted modernization to meet current renter expectations. Average school ratings trend above many metro neighborhoods (rank 53 of 295) and around the 61st percentile nationally—supportive but not a primary demand driver.
Comparable crime metrics for this specific neighborhood are not available in the current WDSuite release. Investors should benchmark city and regional trend data and consider standard on-site diligence to contextualize safety alongside leasing performance and retention outcomes.
Nearby employment anchors include technology and healthcare distribution offices that broaden the commuter tenant base and support leasing stability at workforce-friendly commute ranges.
- IBM — technology & services (7.1 miles)
- McKesson — healthcare distribution (40.3 miles)
This 60-unit asset built in 1980 benefits from a neighborhood with top-quartile metro standing and tight area occupancy that ranks favorably both locally and nationally. The submarket’s elevated renter-occupied share indicates a deeper tenant base, while a moderate rent-to-income profile suggests room to sustain renewals with disciplined lease management. Population and household growth within 3 miles—historical and projected—point to ongoing renter pool expansion and support for occupancy stability.
Relative to older neighborhood stock, the 1980 vintage can compete well with nearby legacy properties, though capital planning for building systems and targeted upgrades remains prudent. According to commercial real estate analysis from WDSuite, neighborhood rents benchmark above many U.S. areas, but the area’s income profile and strong occupancy backdrop help frame a balanced risk-reward for long-term operations rather than outsized near-term gains.
- Tight neighborhood occupancy and elevated renter-occupied share support steady leasing and collections.
- 3-mile population and household growth expand the tenant base and reinforce demand durability.
- 1980 vintage positions the asset competitively versus older local stock, with value-add potential via targeted modernization.
- Neighborhood rent levels compare favorably to many U.S. areas while rent-to-income remains moderate, aiding retention strategy.
- Risks: limited café/pharmacy density nearby and aging systems typical of 1980 construction may require ongoing capex and amenity enhancements.