| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Fair |
| Demographics | 43rd | Poor |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2218 Burdett Ave, Troy, NY, 12180, US |
| Region / Metro | Troy |
| Year of Construction | 2008 |
| Units | 70 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2218 Burdett Ave Troy 70-Unit Multifamily Investment
2008 vintage asset positioned against an older housing stock supports competitive leasing, with renter demand reinforced by a high share of renter-occupied units nearby according to WDSuite’s CRE market data.
Located in Troy’s inner-suburban fabric, the property benefits from everyday conveniences—grocery, parks, and pharmacies test above national medians—while café density is limited. Schools trend below national averages, which may shape the resident mix more toward workforce and student-adjacent renters rather than families prioritizing top-rated districts.
Relative to the Albany–Schenectady–Troy metro, this neighborhood is above the metro median on amenities and is competitive among local submarkets, yet overall housing occupancy in the neighborhood tracks below national norms. For investors, this suggests the importance of focused leasing and retention strategies but also the potential to capture share with a newer 2008 product versus a neighborhood average vintage near the early 1900s.
Renter-occupied share at the neighborhood level is elevated, and within a 3-mile radius demographics indicate a larger renter base. Population and households have expanded over the last five years, with projections pointing to further household growth through the mid‑term; together, these trends support a deeper tenant pool and help stabilize occupancy through normal cycles.
Home values in the area are moderate for the region, and rent-to-income ratios sit near the national middle, which can support lease retention and measured pricing power. Based on CRE market data from WDSuite, local asking rents have moved steadily over the past five years, aligning with durable demand drivers more than short-term spikes.
Safety indicators for the neighborhood sit around the national middle, with recent data showing a decline in violent incidents year over year. That improvement is a positive signal for resident retention and leasing velocity.
Property offenses have ticked up in the latest year, creating a mixed picture. For underwriting, prudent measures—such as lighting, access control, and resident engagement—can help manage risk. Overall, the neighborhood compares close to national averages and is competitive among Albany–Schenectady–Troy areas on recent violent-crime trends, according to WDSuite’s CRE market data.
Major employers within commuting range support steady renter demand, with proximity suitable for workforce housing. Notable nearby corporate offices include IBM and McKesson.
- IBM — technology & services (7.2 miles)
- McKesson — healthcare distribution (41.3 miles)
The 2008 construction provides a competitive edge versus much older neighborhood stock, supporting lower near-term capital needs and stronger curb appeal relative to pre‑war inventory. Within a 3‑mile radius, population and households have grown and are projected to expand further, pointing to a larger tenant base and potential occupancy stability. According to CRE market data from WDSuite, neighborhood rents and incomes align near national midpoints, which can favor retention while allowing disciplined revenue management.
Risks include neighborhood housing occupancy that trails national averages, softer school ratings, and mixed safety signals with a recent uptick in property offenses. These are manageable with focused operations—targeted marketing to the sizable renter pool, practical security enhancements, and light value-add to keep the 2008 vintage competitive as systems age.
- 2008 vintage outcompetes older local stock, reducing near-term capex and aiding leasing
- Expanding 3-mile renter pool and household growth support demand and occupancy
- Rents/incomes near the national middle back retention and disciplined pricing
- Workforce access to regional employers underpins everyday leasing fundamentals
- Risks: neighborhood occupancy below national norms, lower school ratings, and a recent rise in property offenses