| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Best |
| Demographics | 78th | Best |
| Amenities | 13th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 13 Gurley Ave, Troy, NY, 12182, US |
| Region / Metro | Troy |
| Year of Construction | 2002 |
| Units | 37 |
| Transaction Date | 2002-06-25 |
| Transaction Price | $117,000 |
| Buyer | DRT I HSNG DEV FUNDE CORP |
| Seller | DRT 2 ASSOCIATES LP |
13 Gurley Ave Troy NY 2002 Apartments Investment
Neighborhood occupancy remains competitive and renter concentration supports durable demand, according to WDSuite’s CRE market data.
Located in Troy’s inner-suburban fabric, the property benefits from steady housing fundamentals even with a lean amenity mix nearby. Amenity density trends below the metro median, though pharmacy access rates comparatively well, indicating day-to-day needs are reachable with short drives. School ratings are not available in this dataset, so investors should underwrite education preferences using local due diligence.
For rental performance, the neighborhood’s occupancy is competitive among Albany–Schenectady–Troy neighborhoods and sits in the top third nationally, signaling stable absorption and lease retention at the submarket level. Renter-occupied housing accounts for a majority of units locally (54.2% within the neighborhood), pointing to a meaningful tenant base; within a 3-mile radius, the renter share is also the majority, reinforcing depth for multifamily demand.
Demographics aggregated within a 3-mile radius show recent population growth and a forecasted increase over the next five years, alongside a rise in total households and smaller average household sizes. These shifts typically expand the renter pool and support occupancy stability for well-positioned assets. Income levels have trended upward, which can sustain absorption for renovated or well-managed units.
Ownership costs sit in the mid-range for the metro, with median home values around the low-$200Ks and a value-to-income ratio near the national midpoint. A neighborhood rent-to-income ratio near one-fifth suggests manageable affordability pressure, which can aid lease retention while allowing disciplined pricing decisions. Notably, average NOI per unit for the neighborhood ranks in the top decile nationally, indicating efficient operations among comparable assets in this area, based on WDSuite data.
Built in 2002, the asset is materially newer than the neighborhood’s typical 1960s vintage. That relative youth can enhance competitive positioning versus older stock, while investors should still plan for targeted modernization and system updates as the building matures.
Relative to the Albany–Schenectady–Troy metro (295 neighborhoods), the area’s overall crime rank is 34 out of 295, indicating competitive safety versus many local peers. Nationally, the neighborhood benchmarks above average: violent-offense conditions align with the top quartile nationally, and property-offense conditions are even stronger, placing near the top decile compared with neighborhoods nationwide.
Recent trends are mixed and should be monitored: property-offense estimates improved year over year (declining by double digits), while violent-offense estimates rose over the same period. Investors may want to review updated local reporting and property-level security measures as part of underwriting.
Regional employers within the broader commute-shed help support renter demand and retention for workforce housing, notably in technology and healthcare distribution represented below.
- IBM — technology & services (9.8 miles)
- McKesson — healthcare distribution (38.4 miles)
This 2002-vintage, mid-size apartment asset in Troy’s inner suburb is positioned against neighborhood fundamentals that favor stable occupancy and a deep renter base. The surrounding neighborhood shows competitive occupancy versus metro peers and above-average standing nationally, while a majority of housing units are renter-occupied locally and within a 3-mile radius—factors that typically support absorption and retention. According to WDSuite’s commercial real estate analysis, homeownership costs sit mid-range for the region and rent-to-income metrics suggest manageable affordability pressure, offering room for disciplined rent strategies.
Being newer than the 1960s neighborhood average enhances relative competitiveness versus older stock, though prudent capital planning for selective modernization remains important. Within a 3-mile radius, recent population gains and projected increases in households point to a larger tenant base over time, which can support stabilized operations for well-managed units.
- Competitive neighborhood occupancy and majority renter-occupied housing support durable tenant demand
- 2002 construction offers relative edge versus older local stock, with targeted updates to enhance positioning
- Mid-range ownership costs and manageable rent-to-income support retention and measured pricing power
- 3-mile population and household growth expands the renter pool, aiding occupancy stability
- Risk: amenity density is lighter and violent-offense trends were mixed year over year—underwrite location-specific factors and security