| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 40th | Fair |
| Demographics | 68th | Good |
| Amenities | 82nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 720 Federal St, Troy, NY, 12180, US |
| Region / Metro | Troy |
| Year of Construction | 2000 |
| Units | 65 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
720 Federal St, Troy NY Multifamily Investment
Positioned in an amenity-rich inner-suburb of the Albany–Schenectady–Troy metro, the neighborhood shows durable renter demand and depth, according to WDSuite’s CRE market data. Stable lifestyle access and a sizable renter-occupied base support leasing consistency for a 65-unit asset.
The property sits in an Inner Suburb pocket that ranks 18 out of 295 metro neighborhoods (top quartile locally) with an A neighborhood rating. Amenity access is a clear strength: cafes and restaurants rank at the top of the metro, with grocery and parks also near the top, while pharmacy access is comparatively limited. This concentration of daily-needs and lifestyle amenities supports resident retention and leasing velocity.
Construction in the surrounding neighborhood skews older (average vintage 1905 across the area), making a 2000-built asset relatively newer and more competitive than much of the nearby stock. For investors, that can translate into lower near-term capital needs relative to century-old buildings, while still leaving room for selective modernization to drive rents and reduce downtime.
Renter-occupied housing is high in the neighborhood (about 62% of units are renter-occupied), indicating a deep tenant base. At the same time, the neighborhood occupancy rate is lower than national norms, which suggests leasing strategies should emphasize positioning and operations to capture share and sustain occupancy. Household sizes trend small locally, and educational attainment is strong (the neighborhood sits in the top quintile nationally), both of which align with demand for quality, professionally managed multifamily.
Within a 3-mile radius, WDSuite data shows population growth over the last five years with further growth projected, alongside a larger increase in total households through the forecast period. This points to renter pool expansion and a broader base of potential tenants. Median household incomes have risen meaningfully and are projected to continue rising, while area rents are also expected to increase; together this supports ongoing rentability, though lease management should monitor affordability pressure as rents move.
Homeownership costs are not the primary draw in this submarket, and a sizable renter base reinforces multifamily demand rather than competing with ownership. From a commercial real estate analysis perspective, the combination of high amenity density and renter concentration favors stabilized operations, provided pricing is aligned with local incomes and unit mix.
Safety indicators are mixed and should be evaluated in context. Compared with neighborhoods nationwide, violent offense levels benchmark in a stronger position (upper tiers nationally), while property offense levels are better than average but have shown a recent uptick. Within the Albany–Schenectady–Troy metro, the neighborhood’s crime rank is toward the lower-numbered end (48 out of 295), which signals comparatively more reported crime than many metro peers; operators typically address this through lighting, access controls, and resident engagement.
For investors, the takeaway is to underwrite conservative security and operating practices rather than relying on block-level assumptions. Monitoring recent trends and coordinating with professional management can help sustain tenant retention and occupancy stability.
Nearby employers add commuting convenience that supports workforce housing demand, with access to technology and healthcare distribution offices noted below.
- IBM — technology & services (6.7 miles)
- McKesson — healthcare distribution (41.4 miles)
Built in 2000 with 65 units averaging over 1,200 square feet, the asset is relatively newer than much of the surrounding housing stock, which is predominantly early-1900s vintage. That positioning can limit near-term capital expenditures while providing room for targeted value-add upgrades to enhance rentability and reduce turnover. The neighborhood’s top-tier amenity density and high share of renter-occupied units support a durable tenant base and occupancy stability, based on CRE market data from WDSuite.
Investor focus should balance these strengths against a lower neighborhood occupancy rate and signs of affordability pressure as rents rise faster than some local incomes. Demographic trends within a 3-mile radius point to population growth and a notable increase in households, which expands the renter pool and underpins long-term demand if pricing is managed prudently.
- 2000 vintage offers competitive positioning versus older area stock with selective renovation upside
- High amenity access and strong renter concentration support leasing and retention
- 3-mile radius shows population and household growth, expanding the tenant base
- Risk: lower neighborhood occupancy and affordability pressure require disciplined pricing and operations
- Risk: monitor local property-crime trends and incorporate security measures in underwriting