| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Best |
| Demographics | 78th | Best |
| Amenities | 13th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 59 Harris Rd, Troy, NY, 12182, US |
| Region / Metro | Troy |
| Year of Construction | 1997 |
| Units | 111 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
59 Harris Rd, Troy NY Multifamily Investment
Renter demand is supported by a high neighborhood renter concentration and steady occupancy, according to WDSuite s CRE market data, making this a candidate for durable cash flow. This commercial real estate analysis points to competitive positioning within the Albany Schenectady Troy metro despite limited nearby retail amenities.
Situated in an Inner Suburb of Troy within the Albany Schenectady Troy metro, the surrounding neighborhood carries an A- rating and ranks 77 out of 295 neighborhoods competitive among Albany Schenectady Troy neighborhoods. Occupancy in the neighborhood is above the metro median, reinforcing income stability for multifamily assets, per WDSuite s CRE market data.
Renter-occupied housing accounts for a majority share of local units (high renter concentration; rank 35 of 295), which expands the tenant base and can support leasing velocity and retention. Median contract rents sit competitively within the metro (rank 79 of 295), while the neighborhood s NOI per unit sits in the top decile nationally, signaling solid operating potential at the neighborhood level rather than at any single property.
Demographic indicators aggregated within a 3-mile radius show a growing household count over the past five years and projections for further household expansion by 2028, pointing to a larger tenant base and potential demand support. The share of adults with a bachelor s degree is high (top quartile nationally), aligning with sustained renter demand for professionally managed units.
Local amenities are thin food and beverage, grocery, parks, and childcare density are low by national comparison but pharmacy access is comparatively better (above national average). For investors, this suggests residents may rely on nearby corridors rather than immediate block-level retail; transportation access and commute patterns therefore matter more than walk-to amenities.
Safety indicators are mixed. Within the Albany Schenectady Troy metro, the neighborhood s crime rank is 34 out of 295, indicating higher incident levels relative to many metro peers. Nationally, however, risk metrics land above average for safety violent and property offense measures fall in higher national percentiles (top quartile nationally for several indicators), according to WDSuite s data.
Recent trends also diverge: estimated violent incidents increased year over year, while estimated property offenses declined. Investors should frame underwriting with metro-relative positioning and monitor trend direction rather than block-level assumptions.
Regional employers support commuter demand across the Capital Region, with proximity to technology and healthcare distribution offices that can underpin renter stability for workforce housing. The list below reflects nearby corporate offices by distance.
- IBM technology & services (10.4 miles)
- McKesson healthcare distribution (38.0 miles)
Built in 1997, this 111 unit asset is newer than much of the surrounding housing stock, offering competitive positioning versus older inventory while leaving room to plan for mid life system upgrades or select value add renovations. Neighborhood fundamentals are supportive: above median occupancy within the metro, a majority renter occupied housing mix, and household growth within a 3-mile radius that points to a larger tenant base and supports occupancy stability.
Homeownership costs in the area sit near national midpoints, which can sustain reliance on multifamily rentals without posing outsized competition from entry-level ownership. According to CRE market data from WDSuite, neighborhood level operating performance (NOI per unit) benchmarks favorably at the national level, reinforcing the long term case while acknowledging limited walkable amenities and mixed safety signals.
- Newer 1997 vintage versus older neighborhood stock, with potential to modernize for rent and retention upside
- Above median neighborhood occupancy and high renter concentration support demand depth and leasing stability
- 3 mile household growth and projections for further expansion bolster the future renter pool
- Favorable neighborhood level NOI per unit relative to national peers, per WDSuite data
- Risks: limited nearby retail/parks and mixed safety trends warrant conservative underwriting and tenant retention strategies