| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 32nd | Poor |
| Demographics | 40th | Poor |
| Amenities | 53rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 255 Main St, Corinth, NY, 12822, US |
| Region / Metro | Corinth |
| Year of Construction | 1985 |
| Units | 20 |
| Transaction Date | 2021-08-30 |
| Transaction Price | $1,125,000 |
| Buyer | GREEN SPRINGS CAP GROUP LLC |
| Seller | J & N REAL ESTATE HOLDINGS LLC |
255 Main St, Corinth NY — 20-Unit Value-Add Multifamily
Neighborhood-level renter concentration and relatively modest rent-to-income ratios indicate depth of tenant demand and potential for steady retention, according to WDSuite’s CRE market data.
Located in the Albany–Schenectady–Troy metro, the Corinth neighborhood rates C+ and sits above the metro median for restaurants and parks, with restaurant density in the top quartile nationally and park access also strong. Daily conveniences are more selective: grocery access is competitive among metro peers, while cafes and pharmacies are limited, shaping a quieter suburban profile.
Neighborhood rents sit at the lower half of the national distribution and rent-to-income indicators suggest manageable affordability, which can support lease retention and reduce turnover risk. Median home values trend below national medians locally, implying a more accessible ownership market; for investors, that can introduce competition with for-sale options, but it may also position well-maintained rentals as practical alternatives that sustain occupancy through value and convenience.
The housing stock in this neighborhood skews older on average (1920s), while this property’s 1985 vintage is newer than much of the surrounding inventory—an edge for near-term competitiveness, though investors should plan for targeted system upgrades and common-area refreshes typical of mid-1980s construction to preserve pricing power.
Renter-occupied share at the neighborhood level is just under one-third, pointing to a meaningful, if balanced, tenant base. Within a 3-mile radius, demographics show population growth in recent years alongside a larger increase in households and a trend toward smaller household sizes; forward-looking estimates indicate relatively flat population but additional household growth, pointing to an expanding pool of households that can support multifamily demand and stabilize occupancy over time.
Neighborhood occupancy has trailed stronger metro pockets in recent years, reflecting softer leasing conditions versus higher-demand submarkets in the region; investors should underwrite conservative lease-up and focus on unit-quality differentiation and operational execution to outperform local averages.
Comparable crime metrics at the neighborhood level are not available in WDSuite for this location. Investors commonly benchmark safety using city and county sources and on-the-ground observations, then compare trends to other Albany–Schenectady–Troy neighborhoods to contextualize leasing and retention risk.
Nearby employers provide access to regional jobs that can support workforce housing demand and lease stability, notably in healthcare distribution and technology.
- McKesson — healthcare distribution (9.9 miles)
- IBM — technology & services (41.3 miles)
255 Main St offers 20 units with a 1985 vintage in a suburban Saratoga County setting where rents are comparatively moderate and neighborhood renter concentration supports a viable tenant base. The property is newer than much of the area’s housing stock, providing a platform for targeted renovations that can enhance differentiation. Based on CRE market data from WDSuite, local occupancy has been softer than stronger metro submarkets, so the thesis leans on affordability, operational execution, and selective value-add to drive durable cash flow.
Households within 3 miles have expanded faster than population and are projected to continue rising as average household size declines—dynamics that can expand the renter pool and support steady absorption. Amenity access is anchored by restaurants and parks, with fewer cafes and pharmacies; combined with a relatively accessible homeownership landscape, competitive positioning will rely on upgraded finishes, responsive management, and clear value versus for-sale alternatives.
- 1985 vintage is newer than surrounding stock, creating practical value-add potential through targeted system and interior upgrades.
- Moderate rents and favorable rent-to-income levels support retention and pricing flexibility in leasing strategies.
- 3-mile household growth and smaller household sizes point to an expanding renter pool and absorption support.
- Proximity to regional employers (healthcare distribution, technology) underpins workforce demand and commute convenience.
- Key risks: softer neighborhood occupancy versus stronger metro pockets, limited nearby conveniences (cafes/pharmacies), and competition from relatively accessible ownership options.