| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Best |
| Demographics | 78th | Best |
| Amenities | 13th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2100 Massachusetts Ave, Troy, NY, 12180, US |
| Region / Metro | Troy |
| Year of Construction | 1975 |
| Units | 56 |
| Transaction Date | 2002-03-01 |
| Transaction Price | $4,820,000 |
| Buyer | CEDAR PARK APTS LLC |
| Seller | MASSACHUSETTS AVE ASSOC |
2100 Massachusetts Ave, Troy NY Multifamily Investment
Stabilized renter demand in an Inner Suburb location supports durable occupancy, according to WDSuite’s CRE market data, with pricing power tempered by local amenity depth. A 1975 vintage provides competitive positioning versus older neighborhood stock while still warranting targeted system updates.
The property sits in Troy’s Inner Suburb, where neighborhood fundamentals are competitive among Albany-Schenectady-Troy neighborhoods (rank 115 out of 295) for occupancy, and above the national median by percentile. Renter-occupied share in the neighborhood is high (54%+), landing in the top decile nationally, which indicates a deep tenant base and supports leasing stability for multifamily assets.
Local amenities are thinner in immediate proximity (amenity rank 186 of 295; low national percentile), so residents may rely on nearby corridors for dining and groceries. A stronger pharmacy presence (national percentile in the high 70s) offers some day-to-day convenience. Investors should underwrite modest car-dependent living patterns rather than walk-to-retail.
Within a 3-mile radius, WDSuite’s data shows recent population growth alongside a faster increase in households, pointing to smaller household sizes and a broader renter pool. Forward-looking projections indicate additional household gains, which can expand the tenant base and support occupancy stability. Median household incomes have risen, while rent-to-income ratios around the neighborhood (about 0.19) suggest manageable affordability pressure that can aid retention and limit turnover risk.
The median home value in the neighborhood sits around the national midpoint, which means ownership is not unusually high-cost for the region. Even so, the neighborhood’s elevated renter concentration and steady occupancy indicate sustained reliance on multifamily housing, supporting lease-up consistency and renewal potential. Based on commercial real estate analysis from WDSuite, neighborhood NOI per unit trends in the top decile nationally, underscoring relative operating strength versus many U.S. neighborhoods.
Safety signals are mixed and should be underwritten with nuance. Relative to the Albany-Schenectady-Troy metro, the neighborhood’s crime ranking sits in the lower cohort (rank 34 out of 295), indicating higher exposure than many metro peers. Nationally, however, WDSuite’s percentiles place the area above average for safety, with property and violent offense measures landing in stronger national percentiles.
Trend-wise, recent data shows a year-over-year decline in estimated property offenses, which is a constructive directional signal. Investors should focus on property-level security, lighting, and resident engagement, and benchmark incident trends against both metro and national baselines when stress-testing underwriting assumptions.
Proximity to regional employers supports a diversified renter base and commute convenience for workforce tenants. Notable nearby corporate offices include IBM and McKesson, which can aid leasing demand and retention for stabilized multifamily.
- IBM — technology & services (7.6 miles)
- McKesson — healthcare distribution (40.8 miles)
This 1975-vintage, mid-scale multifamily asset benefits from a renter-heavy neighborhood and occupancy metrics that are competitive among Albany-Schenectady-Troy submarkets. The vintage is newer than the area’s average building age, offering relative competitiveness versus older stock while still warranting targeted capital planning for aging systems and unit finishes. According to CRE market data from WDSuite, occupancy is above national medians and neighborhood NOI performance sits in the top decile nationally, aligning with durable income profiles.
Within a 3-mile radius, population growth and a faster increase in households point to renter pool expansion, supporting leasing depth and renewal potential. Ownership costs in the immediate area are near national norms, which may create some competition from entry-level ownership; however, a high neighborhood share of renter-occupied units and manageable rent-to-income dynamics reinforce the case for steady demand and pricing discipline.
- High renter concentration and competitive neighborhood occupancy support stable leasing
- 1975 vintage offers relative competitiveness versus older local stock with targeted value-add upside
- 3-mile household growth expands the tenant base, aiding renewal and rent management
- Risks: thinner walkable amenities and metro-relative crime rankings warrant prudent security and marketing