| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Fair |
| Demographics | 45th | Poor |
| Amenities | 28th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4 George St, Troy, NY, 12183, US |
| Region / Metro | Troy |
| Year of Construction | 2004 |
| Units | 40 |
| Transaction Date | 2002-08-30 |
| Transaction Price | $125,000 |
| Buyer | FINNING JAMES D |
| Seller | SARBRO REALTY CORP |
4 George St, Troy NY Multifamily Investment
Neighborhood data point to a deep tenant base with a high share of renter-occupied housing and steady household growth, according to WDSuite’s CRE market data. This supports durable multifamily demand in Troy while allowing disciplined underwriting around occupancy and rent positioning.
Located in Troy’s inner-suburban fabric, the property benefits from neighborhood fundamentals that cater to workforce renters. The renter-occupied share is high relative to national norms, indicating a sizable local tenant pool and potential demand stability for multifamily assets. The area’s neighborhood rating sits in the mid range within the Albany–Schenectady–Troy metro, signaling competitive but not overheated dynamics for investors screening comparables.
Livability indicators are mixed. While everyday retail is limited within the immediate neighborhood, restaurants are comparatively accessible (competitive among 295 metro neighborhoods), and park access ranks in the top quartile nationally—useful for quality-of-life positioning and resident retention. Average school ratings are below national norms, which investors should factor into unit-mix expectations for family-oriented demand.
Demographic statistics aggregated within a 3-mile radius show population and household growth over recent years, with forecasts pointing to further increases and higher household incomes by mid-decade. This trajectory expands the renter pool and supports occupancy stability and lease-up prospects, even as household sizes edge modestly lower.
From a housing context, neighborhood occupancy is below national norms, so lease management and pricing discipline matter. However, median contract rents sit above many peer areas in the metro, and rent-to-income levels indicate manageable affordability pressure for renters—conditions that can aid retention and reduce turnover cost for well-run assets.
Vintage considerations also favor newer stock. With an average neighborhood construction year in the early 1900s, a 2004 asset is competitively positioned versus older comparables, with potential to capture tenants seeking more modern layouts while still budgeting for mid-life system updates or selective value-add.
Comparable crime metrics are not available at the neighborhood level in this dataset. Investors should review city and metro trend lines and engage local diligence to understand safety patterns and how they compare to broader Albany–Schenectady–Troy benchmarks.
Proximity to established corporate offices supports commuter convenience and renter retention, with access to technology and healthcare distribution employers that draw a stable workforce.
- IBM — technology (6.8 miles)
- McKesson — healthcare distribution (41.1 miles)
This 40-unit, 2004-vintage asset stands out against a neighborhood base that skews older, giving it competitive positioning on building systems and layouts while leaving room for targeted modernization. A high renter-occupied share across the neighborhood signals depth in the tenant base, and demographic trends within a 3-mile radius indicate population and household growth that can support occupancy stability and rent performance. According to CRE market data from WDSuite, neighborhood occupancy trails national norms, so asset management and leasing discipline are important, but manageable rent-to-income levels and steady restaurant and park access underpin resident appeal.
Ownership costs in the area are relatively accessible compared with many U.S. neighborhoods, which can introduce some competition from for-sale options. Still, rising household incomes and projected rent growth in the surrounding 3-mile area suggest ongoing demand for well-run multifamily housing, particularly for units that balance value with livability.
- 2004 construction offers competitive positioning versus much older neighborhood stock, with selective value-add potential.
- High renter-occupied share supports a deep tenant base and leasing durability.
- 3-mile population and household growth expand the renter pool and support occupancy stability.
- Parks and dining access aid resident satisfaction and retention, supporting long-term cash flow.
- Risks: neighborhood occupancy below national norms and relatively accessible ownership options may temper pricing power without strong operations.