| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Best |
| Demographics | 70th | Good |
| Amenities | 25th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 40 Sitterly Rd, Clifton Park, NY, 12065, US |
| Region / Metro | Clifton Park |
| Year of Construction | 1993 |
| Units | 46 |
| Transaction Date | 1997-10-15 |
| Transaction Price | $2,450,000 |
| Buyer | FOREST DRIVE LLC |
| Seller | HALFMOON PARTNERS LLC |
40 Sitterly Rd, Clifton Park NY Multifamily Investment
Neighborhood renter demand appears durable with occupancy above the metro median and a high renter-occupied share in the immediate area, according to WDSuite’s CRE market data. This location balances everyday conveniences with suburban stability, supporting steady leasing and retention.
The property sits in an Inner Suburb setting of the Albany–Schenectady–Troy metro that is rated A and ranks 42 out of 295 metro neighborhoods — a top-quartile standing locally. Neighborhood occupancy trends are above the metro median, a positive signal for near-term leasing and renewal performance. Median contract rents in the neighborhood track above national midpoints while rent-to-income levels point to manageable affordability pressure, helping preserve demand without overextending tenants.
Local convenience is anchored by strong grocery access (top quartile nationally), with a reasonable mix of restaurants nearby. Broader lifestyle amenities like parks, cafes, and pharmacies are thinner within the immediate neighborhood footprint, which may shift some resident activity toward nearby corridors but typically does not impede day-to-day livability for suburban renters.
Ownership costs in the neighborhood are elevated relative to the nation (home values in the upper percentiles), which tends to reinforce reliance on multifamily housing and supports pricing power where assets are maintained competitively. At the same time, neighborhood-level renter-occupied share is high, indicating a deep tenant base and consistent interest in professionally managed rentals.
Within a 3-mile radius, demographics indicate a growing population and an expanding household base over the next several years, enlarging the potential renter pool and supporting occupancy stability. Income distributions skew toward middle-to-upper brackets, which can sustain Class B/C assets and select value-add repositioning when product is well-located. These dynamics align with expectations for steady suburban absorption based on CRE market data from WDSuite.
Comparable neighborhood-level safety metrics are not available in WDSuite for this location. Investors commonly benchmark property operations against metro and peer submarkets, track ownership visibility on-site, and review jurisdictional trend data to underwrite prudent reserves and tenant retention strategies.
The area draws from a diversified professional employment base that supports commuter convenience and renter retention, notably in technology and healthcare distribution reflected below.
- IBM — technology services (13.9 miles)
- McKesson — healthcare distribution (33.5 miles)
Built in 1993, the asset is slightly newer than the neighborhood’s average stock, which can provide a competitive edge on unit layout and systems while still leaving room for targeted modernization and common-area upgrades to drive rent premiums. Neighborhood fundamentals are solid: occupancy trends sit above the metro median, renter-occupied concentration is high locally, and ownership costs are elevated in the broader area — factors that collectively deepen the renter pool and support steady leasing. According to CRE market data from WDSuite, the neighborhood’s A rating and top-quartile local rank further underscore resilient demand drivers.
Within a 3-mile radius, population and household counts are projected to rise, pointing to a larger tenant base over the next several years. Income levels are supportive for well-maintained suburban product, and grocery and restaurant access provide daily convenience. While immediate access to parks, cafes, and pharmacies is lighter, the submarket’s fundamentals and employment access offset this, positioning the property for consistent absorption and retention with measured value-add potential.
- 1993 vintage offers competitive positioning with targeted renovation upside
- Neighborhood occupancy above metro median supports leasing stability
- Elevated ownership costs locally reinforce multifamily demand and pricing power
- Expanding 3-mile population and household base grows the renter pool
- Risks: thinner immediate lifestyle amenities; ongoing capital needs as building systems age