| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Best |
| Demographics | 40th | Fair |
| Amenities | 24th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 305 County Highway 155, Gloversville, NY, 12078, US |
| Region / Metro | Gloversville |
| Year of Construction | 1995 |
| Units | 80 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
305 County Highway 155 Gloversville NY 1995 Rental Asset
Positioned in a high-cost ownership context relative to local incomes, the asset benefits from durable renter reliance and above-median metro occupancy, according to WDSuite’s CRE market data.
The neighborhood carries an A- rating and ranks 6th of 32 within the Gloversville, NY metro, placing it in the top quartile locally. Amenity density ranks 10th of 32—competitive among Gloversville neighborhoods—yet sits in the lower national percentiles, signaling a quieter, lower-traffic setting rather than a retail-heavy corridor.
Vintage matters for competitive positioning: the property was built in 1995, notably newer than the neighborhood’s average 1965 construction year. That newer vintage can support leasing versus older stock, though investors should still plan for system modernization typical of late-1990s assets.
Within a 3-mile radius, demographics show recent population growth with a simultaneous rise in households and a forecast for smaller household sizes. This pattern points to a stable, diversified tenant base and potential renter pool expansion even if headline population moderates, which can support occupancy stability for multifamily assets.
Tenure data within 3 miles indicates a predominantly owner-occupied area, with renter-occupied units comprising roughly one-fifth of housing. For investors, this suggests a thinner but steady renter cohort that favors well-run properties capturing demand from residents who prefer professionally managed rentals or are priced out of ownership.
Home values in the neighborhood sit around mid-$200,000s, and the value-to-income ratio ranks 1st of 32 locally and in a high national percentile. This high-cost ownership environment relative to incomes tends to reinforce renter reliance on multifamily housing, supporting lease retention and pricing power when paired with thoughtful affordability management.
On fundamentals, neighborhood occupancy ranks 13th of 32—above the metro median—indicating solid performance relative to peers. Parks access ranks 7th of 32 and above national medians, while everyday retail (groceries and restaurants) is present but not dense. Overall, the local profile skews toward livability and value preservation over lifestyle retail concentration, a reasonable fit for workforce-oriented rentals.
Neighborhood-level crime metrics were not available from WDSuite for this location. Investors typically benchmark safety by comparing neighborhood trends to county and metro context and by reviewing multi-year patterns rather than single-year snapshots. Standard practice includes corroborating with public datasets and on-the-ground observation to understand conditions during peak leasing hours and after dark.
This 1995, approximately 80-unit asset competes well against older neighborhood stock and operates in a market where ownership costs run high relative to incomes—factors that can sustain renter reliance and support occupancy. According to CRE market data from WDSuite, the neighborhood scores in the top quartile locally and posts above-median metro occupancy, aligning with steady demand for well-managed rentals.
Within a 3-mile radius, recent gains in households alongside smaller forecast household sizes point to a broader tenant base even as population growth normalizes. The area’s predominantly owner-occupied profile suggests less direct competition from large rental clusters, rewarding assets that prioritize quality operations, cost control, and targeted value-add to capture pricing power without elevating retention risk.
- Newer-than-average 1995 vintage versus local stock supports leasing competitiveness
- High-cost ownership context reinforces renter reliance, aiding pricing power and retention
- Above-median metro occupancy and top-quartile neighborhood ranking signal durable fundamentals
- Household growth and smaller projected household sizes expand the renter pool over time
- Risks: lighter amenity density and moderating population require disciplined lease management and targeted upgrades