| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Good |
| Demographics | 82nd | Best |
| Amenities | 42nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1401 Forrest Pointe Dr, East Greenbush, NY, 12061, US |
| Region / Metro | East Greenbush |
| Year of Construction | 2006 |
| Units | 32 |
| Transaction Date | 2006-03-30 |
| Transaction Price | $600,000 |
| Buyer | FORREST POINTE II LLC |
| Seller | EMPIRE VILLAGE LP |
1401 Forrest Pointe Dr East Greenbush Multifamily Investment
Neighborhood occupancy is competitive among Albany-Schenectady-Troy neighborhoods, supporting steadier cash flow potential; according to WDSuite’s CRE market data, renter demand is reinforced by mid-market rents and above-average incomes in the area. Metrics reference the surrounding neighborhood rather than the property’s in-place performance.
Situated in East Greenbush within the Albany-Schenectady-Troy metro, the property benefits from neighborhood fundamentals that skew favorable for workforce and professional tenants. Neighborhood occupancy is above the metro median, and the area’s renter concentration is moderate, with a larger share of owner-occupied housing that can support lease stability. Schools in the neighborhood average 4.0 out of 5 (ranked 8 out of 295 in the metro), which is top quartile nationally and an advantage for family-oriented renters.
Amenity access is mixed: cafes are competitive among metro neighborhoods (ranked 29 of 295), and grocery and pharmacy access track near the metro middle (ranks 113 and 40 of 295, respectively), while formal parks are limited within neighborhood boundaries. These dynamics suggest daily needs are reasonably served, with some reliance on nearby districts for recreation.
The property’s 2006 construction is newer than the neighborhood’s older housing stock (average vintage 1960), which can enhance competitive positioning versus legacy assets while still warranting routine modernization planning for systems and interiors over a long hold.
Demographic indicators aggregated within a 3-mile radius show recent population and household growth, with projections pointing to additional increases in households by 2028. This implies a larger tenant base and supports occupancy stability. Household incomes are above national norms, and the neighborhood’s rent-to-income ratio near 16% indicates manageable affordability from an investor perspective, which can aid retention and lease management.
Home values in the neighborhood sit in a mid-range for the region, and ownership remains a strong option locally. In practical terms, this can temper price sensitivity at stabilized multifamily communities while requiring competitive positioning on finish level and convenience to capture renters who prefer flexibility over ownership.
Comparable crime data for this neighborhood was not available in WDSuite’s current release, so investors should benchmark safety using multiple sources (municipal reporting, insurer data, and site inspections) and evaluate trends at the neighborhood and city levels rather than block-by-block snapshots.
Proximity to a stable white-collar employment base supports renter demand and commute convenience for professionals, including roles at nearby corporate offices such as IBM.
- IBM — corporate offices (3.2 miles)
1401 Forrest Pointe Dr is a 32-unit multifamily asset built in 2006 with average units around 653 square feet, positioned in a neighborhood where occupancy is competitive among metro peers and household incomes are above national averages. Based on CRE market data from WDSuite, renter demand is supported by mid-market rents and a rent-to-income profile that suggests balanced affordability, while newer construction versus local housing stock provides relative competitiveness.
Demographics aggregated within a 3-mile radius indicate recent population growth and a projected increase in households by 2028, pointing to a larger tenant base over the medium term. The owner-leaning neighborhood composition can support lease stability, though operators should focus on finish, service, and convenience to convert would-be owners or long-term renters seeking quality.
- Competitive neighborhood occupancy with incomes supportive of rent levels
- 2006 vintage offers edge over older local stock with scope for targeted upgrades
- 3-mile household growth outlook expands the tenant base, aiding leasing and retention
- Mid-market ownership costs nearby help sustain multifamily demand from flexibility-seeking renters
- Risk: Owner-heavy neighborhood and limited park amenities require competitive positioning to capture demand