| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 46th | Good |
| Demographics | 67th | Good |
| Amenities | 33rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3485 Carman Rd, Schenectady, NY, 12303, US |
| Region / Metro | Schenectady |
| Year of Construction | 2000 |
| Units | 48 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3485 Carman Rd, Schenectady NY Multifamily Opportunity
Suburban asset with strong neighborhood occupancy and high-income demographics, according to WDSuite’s CRE market data, positioning it for durable renter demand and disciplined value-add execution.
The property sits in a suburban neighborhood within the Albany–Schenectady–Troy metro that ranks 66 out of 295 metro neighborhoods (top quartile among 295), per WDSuite. Occupancy in the surrounding neighborhood trends in the top quartile nationally, supporting leasing stability. Local incomes are in the top decile nationwide, which can underpin rent collections and renewal performance.
Daily-needs access is competitive among Albany–Schenectady–Troy neighborhoods, while amenity intensity aligns closer to national averages. Cafe and grocery densities track above national norms, and average school ratings are strong (top quartile nationally), reinforcing family-oriented housing dynamics investors often associate with suburban product.
Within a 3-mile radius, demographic statistics indicate modest population growth and a larger household base over recent years, pointing to a gradually expanding tenant pool. Renter-occupied share within 3 miles is about one-fifth of housing units, suggesting demand is steady but more ownership-tilted than urban cores; investors should calibrate unit mix and marketing accordingly.
Home values are above national medians, which in investor terms helps sustain reliance on rental housing and can support pricing power where rent-to-income remains manageable. Median contract rents track near national mid-range locally, offering room to compete on value relative to higher-cost pockets of the metro.
Neighborhood-level crime metrics were not available in WDSuite’s dataset for this location. Investors commonly benchmark safety by comparing municipal reports and metro trend data to nearby suburban peers rather than block-level indicators. Use consistent, like-for-like sources when underwriting and align assumptions with regional comparables in the Albany–Schenectady–Troy metro.
Regional employers with commutable access support a diversified renter base, notably in technology and healthcare distribution roles listed below.
- IBM — technology offices (11.6 miles)
- McKesson — healthcare distribution (42.9 miles)
Built in 2000, the asset is newer than much of the surrounding housing stock, offering relative competitiveness versus 1970s-vintage product while leaving room for selective upgrades to common areas and in-unit finishes. Neighborhood occupancy trends in the upper tier nationally and the 3-mile area shows ongoing population growth and a rising household count, which together point to a larger tenant base and support for stable lease-up and renewals. Based on CRE market data from WDSuite, rent-to-income levels are favorable locally, indicating manageable affordability pressure and potential to capture rent growth with disciplined management.
High-income profiles and above-average home values in the area reinforce steady multifamily demand; at the same time, the renter-occupied share is lower than urban cores, so marketing should target households seeking quality suburban rentals with convenient access to regional employers. Underwriting should budget for mid-life system updates typical for a 2000-vintage community while prioritizing value-add items that enhance competitiveness against older stock.
- Newer 2000 vintage versus local 1970s stock supports competitive positioning with moderate CapEx planning
- Neighborhood occupancy trends in the national top quartile support leasing stability
- Expanding 3-mile household base indicates a growing tenant pool and renewal depth
- High-income catchment and above-median home values reinforce reliance on quality rentals and pricing power
- Risk: lower renter concentration than urban cores may lengthen lease-up for certain unit types; align marketing and concessions to local demand