| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 23rd | Fair |
| Demographics | 14th | Poor |
| Amenities | 15th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 41 Academy St, Amsterdam, NY, 12010, US |
| Region / Metro | Amsterdam |
| Year of Construction | 1990 |
| Units | 22 |
| Transaction Date | 2011-05-12 |
| Transaction Price | $530,000 |
| Buyer | APOSTOLAKIS JOHN |
| Seller | REAL ESTATE ADVISORS INC TRITEX |
41 Academy St, Amsterdam NY — 22-Unit Multifamily Positioned for Durable Workforce Demand
Built in 1990, this asset is newer than much of the surrounding housing stock and benefits from a steady renter base supported by everyday services, according to WDSuite’s CRE market data. Neighborhood fundamentals point to practical affordability and commute convenience within the Amsterdam, NY area.
The property sits in an Inner Suburb pocket of Amsterdam where everyday essentials are close at hand. Grocery access is a relative strength (ranked near the top among 30 metro neighborhoods and high in national percentile terms), which supports day-to-day livability for residents and helps leasing. By contrast, cafes, parks, and pharmacies are sparse in the immediate area, so on-site amenities and pragmatic unit finishes can matter more for retention.
Relative to the metro, the neighborhood’s renter-occupied share is meaningful, indicating a workable tenant base for a 22-unit community. However, neighborhood occupancy is on the softer side, suggesting investors should underwrite to realistic lease-up timelines and ongoing leasing effort to maintain stability.
Within a 3-mile radius, demographics show a broadly diversified age mix and stable household counts in recent years, with forecasts pointing to an increase in households and a smaller average household size by 2028. That combination typically expands the renter pool and can support occupancy stability over the medium term. Median contract rents are projected to trend higher locally, reinforcing potential for measured rent growth when paired with proven unit features.
Home values in the immediate neighborhood are comparatively low versus national benchmarks. In investor terms, this creates a market where ownership is more accessible than in high-cost metros, which can introduce some competition with entry-level ownership. At the same time, rent-to-income levels indicate manageable affordability pressure for renters, supporting resident retention when renewal strategies are calibrated carefully.
Vintage matters here: the average nearby housing stock skews older, while this asset’s 1990 construction provides a relative competitive edge versus pre-war product. Investors can still plan for system modernization and common-area refreshes to strengthen positioning against both older comparables and newer renovations.
Public crime statistics specific to this neighborhood were not available in the provided dataset. For underwriting, investors typically compare neighborhood trends to Amsterdam and county benchmarks and focus on property-level measures (lighting, access control, and visibility) to support resident comfort and leasing.
Regional employment access is anchored by large corporate offices reachable by highway, supporting workforce housing dynamics and commute convenience for residents. Notable nearby employers include IBM and McKesson.
- IBM — technology & corporate offices (30.1 miles)
- McKesson — healthcare distribution offices (37.5 miles)
41 Academy St offers a practical, defensively positioned 22-unit asset in a service-oriented Amsterdam submarket. The 1990 vintage stands newer than much of the surrounding stock, providing a competitive baseline versus older buildings while leaving room for targeted renovations that can lift rents. Based on commercial real estate analysis from WDSuite, neighborhood livability is reinforced by strong grocery access and workable renter demand, while forecasts within 3 miles indicate an increase in households and a smaller average household size that can expand the renter pool.
Investors should balance these strengths against softer neighborhood occupancy and limited amenity depth, underwriting to steady leasing operations and value-add that emphasizes durability, convenience, and affordability. Proximity to regional employers supports workforce demand, but distance to major job centers suggests marketing should focus on local employment nodes and ease of access.
- Newer 1990 construction relative to nearby stock, with potential for targeted modernization to enhance competitiveness
- Everyday-living fundamentals (notably grocery access) support resident convenience and leasing
- 3-mile forecasts show more households and smaller sizes, expanding the tenant base and supporting occupancy over time
- Affordability remains manageable, aiding renewal strategies and lease retention
- Risks: softer neighborhood occupancy and limited amenity depth require disciplined leasing and value-focused upgrades