| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Best |
| Demographics | 76th | Best |
| Amenities | 38th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 24 Marina Dr, Clifton Park, NY, 12065, US |
| Region / Metro | Clifton Park |
| Year of Construction | 2002 |
| Units | 32 |
| Transaction Date | 2001-07-16 |
| Transaction Price | $292,000 |
| Buyer | HALFMOON BDC LIMITED PARTNERSHIP |
| Seller | JOHN WOJTOWICZ INC |
24 Marina Dr Clifton Park Multifamily Investment
Positioned in an inner-suburb pocket of Clifton Park with steady neighborhood occupancy and a broadening renter pool, this 32-unit asset offers durable demand drivers according to WDSuite s CRE market data.
The property sits in an Inner Suburb neighborhood of the Albany Schenectady Troy metro that is competitive among metro neighborhoods (ranked 41 out of 295) with an overall A rating, based on CRE market data from WDSuite. Neighborhood occupancy is in the low 90s, signaling generally stable leasing conditions at the neighborhood level rather than the property itself.
Amenities are mixed: cafe density trends in the top quartile nationally, while grocery access is competitive versus national benchmarks. However, restaurant, childcare, and pharmacy counts are thinner locally, which may modestly affect convenience but typically has limited impact on core multifamily demand in commuter-oriented suburbs.
Construction is newer than the neighborhood average. With a 2002 vintage against an area average year built from the early 1970s, this positioning can enhance competitiveness versus older stock while still warranting selective capital planning for aging systems or light renovations to support rentability.
Tenure patterns point to a moderate renter concentration at the neighborhood level (share of housing units that are renter-occupied), supporting a consistent, though not oversupplied, tenant base. Within a 3-mile radius, recent population and household growth has been modest, with forecasts indicating further expansion by 2028; this suggests a gradually larger tenant base and supports occupancy stability. Median contract rents in the area remain aligned with incomes, with a rent-to-income ratio near the middle of national benchmarks, which can aid retention and reduce lease management volatility.
Home values in the neighborhood sit near national mid-range levels. In practice, this means ownership is not unusually high-cost relative to national norms, but multifamily remains a necessary and accessible option for a meaningful share of households a backdrop that typically supports steady renter demand rather than outsized pricing power.
Neighborhood-level crime benchmarks are not available in the provided WDSuite dataset for this area. Investors commonly compare local trends to metro and county reports and assess block-by-block conditions during due diligence to understand how safety perceptions may influence leasing, retention, and achievable rents.
Regional employers with commutable access help support renter demand, particularly among professionals with suburban living preferences. Nearby corporate offices include IBM and McKesson, which contribute to a diversified employment base and commuting patterns relevant to workforce housing.
- IBM corporate offices (13.3 miles)
- McKesson corporate offices (34.0 miles)
Built in 2002, the asset is newer than much of the surrounding housing stock, offering a competitive edge versus older properties while leaving room for targeted value-add to modernize interiors and systems. The neighborhood shows steady fundamentals: occupancy trends in the low 90s at the neighborhood level, cafe and grocery access compare well nationally, and renter-occupied share supports a dependable tenant base. Within a 3-mile radius, modest recent growth and a projected increase in households point to a gradually expanding renter pool that supports leasing stability.
According to CRE market data from WDSuite, area rents generally align with incomes, helping mitigate affordability pressure and supporting retention strategies. Home values near national mid-range levels imply ownership is attainable for some households, but multifamily remains integral to local housing, sustaining day-to-day demand without requiring outsized rent growth assumptions.
- 2002 vintage offers competitive positioning versus older neighborhood stock with selective value-add potential
- Neighborhood occupancy in the low 90s supports leasing stability and income durability
- Expanding 3-mile renter pool and household growth bolster long-term demand
- Rents generally align with local incomes, aiding retention and reducing turnover risk
- Risk: thinner restaurant/childcare/pharmacy presence and moderate renter concentration may temper near-term pricing power