| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 30th | Good |
| Demographics | 52nd | Good |
| Amenities | 40th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 180 Briggs St Ext, Johnstown, NY, 12095, US |
| Region / Metro | Johnstown |
| Year of Construction | 2003 |
| Units | 25 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
180 Briggs St Ext Johnstown Multifamily Investment
Neighboring amenities and a solid renter base support steady leasing fundamentals, according to WDSuite’s CRE market data. This location offers cost-effective operations with room to capture demand as the submarket evolves.
Johnstown’s suburban setting combines everyday convenience with manageable operating costs for multifamily. Neighborhood dining density is the highest among 32 Gloversville metro neighborhoods and sits in the top quartile nationally, while grocery and pharmacy access are competitive among Gloversville neighborhoods. Parks and cafes are limited locally, so on-site community features can help differentiate and support resident retention.
Rents in the neighborhood trend below national norms, which supports affordability and can aid lease stability. The neighborhood’s occupancy has been generally stable, providing a reasonable baseline for underwriting, though active management remains important in smaller Upstate New York markets.
Demographic statistics aggregated within a 3-mile radius show a modest uptick in population and a larger increase in households over the last five years, pointing to smaller household sizes and a gradually expanding renter pool. Forward-looking projections in WDSuite indicate additional growth in population and households through the next five years, which would expand the local tenant base and support occupancy if realized.
The area skews toward a balanced mix of owner- and renter-occupied housing units, implying a meaningful depth of renter demand without being overly dependent on any single segment. Home values are lower than national norms, which can create some competition from ownership options; however, it also supports resident retention for well-managed apartment communities positioned as more accessible rental options.
Neighborhood-level safety metrics are not available in WDSuite for this location, so comparative crime rankings within the Gloversville metro cannot be cited. Investors typically evaluate safety via multi-year trend reviews and broader municipal data to understand directionality rather than block-level conclusions.
Given the absence of verified neighborhood statistics, prudent underwriting may incorporate visibility into local policing reports, property-level incident logs, and resident feedback to contextualize security measures and their impact on leasing and retention.
Regional employers within commuting distance contribute to renter demand by supporting a diverse workforce. Notable corporate offices include IBM and McKesson, which broaden the employment base accessible from Johnstown.
- IBM — technology & corporate offices (39.7 miles)
- McKesson — healthcare distribution & corporate offices (41.0 miles)
Built in 2003, the property offers a more modern vintage than much of the area’s housing stock, which is predominantly older. That positioning can reduce near-term capital exposure versus older assets while still allowing targeted upgrades to drive rent trade-outs. According to CRE market data from WDSuite, neighborhood leasing conditions have been generally stable, and the surrounding amenity mix—strong restaurant, grocery, and pharmacy access—supports day-to-day livability that underpins retention.
Within a 3-mile radius, households have increased and are projected to continue growing, signaling a larger tenant base over time if trends hold. Lower home values locally may introduce some competition from ownership alternatives, but they also allow operators to emphasize convenience, maintenance-free living, and predictable costs—factors that sustain multifamily demand in smaller metros.
- 2003 construction offers competitive positioning versus older neighborhood stock with selective value-add upside
- Stable neighborhood leasing conditions with amenity access that supports day-to-day livability
- 3-mile radius shows household growth and projected renter pool expansion supporting occupancy
- Operational efficiency potential from below-national rent levels and balanced renter base
- Risks: smaller metro scale, limited parks/cafes, and some competition from homeownership options