| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Best |
| Demographics | 51st | Poor |
| Amenities | 43rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 119 Columbia St, Hudson, NY, 12534, US |
| Region / Metro | Hudson |
| Year of Construction | 1986 |
| Units | 111 |
| Transaction Date | 2024-09-25 |
| Transaction Price | $10,700,000 |
| Buyer | PROVIDENCE & SCHUYLER LLC |
| Seller | PROVIDENCE HALL ASSOC LP |
119 Columbia St, Hudson NY Multifamily—Renter Demand with Value-Add Upside
Neighborhood amenity density supports steady leasing while ownership costs sustain reliance on rentals, according to WDSuite’s CRE market data. Focus is on durable renter demand rather than rapid growth.
Hudson’s core offers a walkable amenity cluster that helps multifamily retention. Restaurants rank 2 of 45 metro neighborhoods (top quartile nationally) and cafes rank 1 of 45 (top quartile nationally), with grocery access at 3 of 45 (also competitive among Hudson neighborhoods), per WDSuite. This concentration supports daily needs and leisure activity within short distances, a positive for occupancy stability.
At the neighborhood level, the renter-occupied share is above many U.S. neighborhoods (77th national percentile), indicating a deep tenant base that supports leasing. Neighborhood occupancy is competitive among Hudson neighborhoods (rank 18 of 45), suggesting demand is present even if not at the metro’s top tier. Average school ratings trend below national norms (15th percentile), which can temper family-driven demand; investors typically offset this by emphasizing convenience and unit finishes when targeting working-age renters.
Within a 3-mile radius, recent population growth has been modest, but WDSuite’s projections indicate further population expansion and an increase in households ahead, which can widen the renter pool and support occupancy. The area shows income bifurcation, with a meaningful higher-income cohort alongside households under $50K; for operators, this points to opportunity in both workforce housing and renovated product tiers.
Ownership remains relatively costly versus local incomes (value-to-income ratio in the 91st national percentile), and median home values sit above U.S. norms. This high-cost ownership market tends to sustain multifamily demand and lease retention. Median asking rents are mid-market locally, with a rent-to-income ratio near 0.22, implying manageable affordability pressure and room for revenue optimization through renovations and amenities-focused positioning.
Vintage considerations: the property’s 1986 construction is materially newer than the neighborhood’s older housing stock (average 1923). That relative youth can bolster competitiveness versus legacy assets, though investors should still plan for modernization of building systems and common areas to capture value-add upside.
Comparable neighborhood-level safety metrics are limited in the current dataset for this location. Without complete crime ranks or national percentiles, investors should evaluate multi-year police and third-party reports to understand trend direction and how it compares with the broader Hudson metro. As with any infill setting, well-lit common areas, access controls, and coordinated property management practices can help support resident comfort and retention.
Regional employment access is driven by a mix of technology and corporate services reachable by car, supporting renter demand from commuters. The list below highlights a representative nearby employer.
- IBM — technology & corporate offices (27.3 miles)
119 Columbia St is a 111-unit, 1986-vintage asset positioned near Hudson’s strongest amenity corridors. The neighborhood shows competitive occupancy among metro peers and a renter-occupied share above many U.S. neighborhoods, pointing to depth in the tenant base. Elevated home values relative to incomes suggest sustained reliance on rentals, supporting retention and steady leasing, while median rents and a balanced rent-to-income profile leave room for targeted revenue management.
The vintage creates a clear value-add path: 1980s construction is newer than much of the surrounding stock yet old enough to benefit from system upgrades and common-area refreshes. Demographic data aggregated within a 3-mile radius indicate modest recent population growth with further household expansion projected, reinforcing demand for well-managed units; according to CRE market data from WDSuite, amenity access (restaurants, cafes, grocery) is a differentiator versus many metro neighborhoods.
- Walkable amenity density (top-quartile food and grocery access) supports leasing and renewal prospects.
- Renter-occupied share above many U.S. neighborhoods indicates a durable tenant base for a 111-unit asset.
- Elevated ownership costs versus income levels reinforce sustained multifamily demand and pricing power.
- 1986 vintage offers value-add potential via system modernization and interior upgrades relative to older local stock.
- Risks: below-average school ratings and limited park/pharmacy presence may narrow certain renter segments; underwrite capex for aging systems.