| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Good |
| Demographics | 75th | Best |
| Amenities | 41st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 137 Vandenburgh Pl, Troy, NY, 12180, US |
| Region / Metro | Troy |
| Year of Construction | 1990 |
| Units | 90 |
| Transaction Date | 2005-04-28 |
| Transaction Price | $10,138,500 |
| Buyer | --- |
| Seller | GREENE DONALD C |
137 Vandenburgh Pl Troy — 1990 Multifamily Investment
Neighborhood occupancy is strong and comparatively stable, according to WDSuite’s CRE market data, positioning this inner-suburb asset to capture steady renter demand. The 1990 vintage offers competitive positioning versus older local stock while leaving room for targeted upgrades.
Located in Troy’s Inner Suburb, the neighborhood rates A- and is top quartile among 295 Albany–Schenectady–Troy metro neighborhoods based on overall performance. According to WDSuite’s CRE market data, neighborhood multifamily occupancy trends in the top quartile locally, supporting lease-up and retention for well-managed assets. Median contract rents in the neighborhood sit above national norms, signaling pricing power when paired with prudent lease management.
Livability leans toward parks and dining access: park coverage tracks in the higher national percentiles while restaurants are competitive versus peers; however, grocery, pharmacy, and cafe density within the immediate neighborhood are limited. Investors should assume many residents rely on short drives for daily needs, which is typical for inner-suburban locations and does not preclude consistent tenancy.
Vintage context: the asset’s 1990 construction is newer than the neighborhood’s early-1900s average. That relative youth can enhance competitiveness against older product, though investors should still plan for modernization of finishes and mid-life systems as part of a value-add or capital program.
Tenure and demand: within the neighborhood, an estimated 36% of housing units are renter-occupied, indicating a more ownership-tilted block group mix; this suggests a smaller immediate renter base but potentially stable tenancy. By contrast, demographics aggregated within a 3-mile radius indicate a renter-occupied share above 60% and recent growth in households, expanding the nearby tenant pool and supporting occupancy stability.
Demographic momentum within 3 miles shows population growth in recent years with additional gains projected over the next five years, alongside a notable increase in household counts. This points to a larger tenant base over time and sustained demand for rental units. Household incomes have trended higher, which can support rent levels while still requiring attention to affordability to manage retention.
Ownership costs context: neighborhood home values are moderate in national terms, and the local value-to-income ratio is comparatively low. That landscape may create some competition from ownership options; however, measured rent-to-income levels indicate manageable affordability pressure, which can aid renewal rates when paired with disciplined leasing strategy.
Safety indicators are mixed and should be viewed comparatively rather than block-by-block. Within the Albany–Schenectady–Troy metro, the neighborhood’s crime rank sits closer to the higher-incident end (ranked 39 out of 295), suggesting more crime relative to many metro peers. Nationally, overall safety trends are above the median, indicating the area is safer than a majority of neighborhoods nationwide.
Breakout signals show comparatively strong standings for violent-offense measures (top decile nationally) and favorable national positioning for property-offense levels, but recent year-over-year estimates indicate a sharp uptick in property offenses. Investors should monitor property-crime patterns and incorporate routine security and lighting upgrades, while recognizing that the broader national comparison remains better than average.
Regional employers contribute to a diversified white-collar and healthcare-adjacent workforce that supports renter demand and commuting convenience. Notable nearby employers include IBM and McKesson.
- IBM — technology & services (4.9 miles)
- McKesson — pharmaceutical distribution (43.6 miles)
This 1990-vintage, 90-unit property benefits from neighborhood fundamentals that are competitive among Albany–Schenectady–Troy submarkets. According to CRE market data from WDSuite, neighborhood occupancy trends in the top quartile of the metro, while 3-mile demographics point to renter pool expansion and rising household incomes that support demand and pricing resilience. The asset’s newer vintage versus nearby early-1900s product provides a positioning edge, with scope for value-add updates to interiors and common areas.
Affordability signals are balanced: neighborhood rents benchmark above national levels, and rent-to-income readings indicate manageable pressure that can aid retention. Moderate home values imply some competition from ownership, but the broader 3-mile area’s higher renter concentration and projected household growth suggest continued depth of demand. Risk management should consider mixed safety indicators—particularly recent property-crime volatility—and the relative scarcity of walkable daily-needs retail within the immediate neighborhood.
- Top-quartile neighborhood occupancy supports leasing stability and renewal potential.
- 1990 construction offers a competitiveness edge versus older local stock with value-add upside.
- 3-mile radius shows population and household growth, expanding the tenant base over time.
- Balanced affordability profile enables pricing power with thoughtful lease management.
- Risks: recent property-crime uptick and limited immediate grocery/pharmacy options warrant operational attention.