| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Good |
| Demographics | 65th | Good |
| Amenities | 18th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 64 Fawn Rd, Gansevoort, NY, 12831, US |
| Region / Metro | Gansevoort |
| Year of Construction | 1974 |
| Units | 111 |
| Transaction Date | 2007-01-01 |
| Transaction Price | $5,815,000 |
| Buyer | English Village LLC |
| Seller | --- |
64 Fawn Rd Gansevoort Multifamily Value-Add Opportunity
Neighborhood occupancy is strong while rents read as relatively manageable versus local incomes, according to WDSuite s CRE market data; this supports steady tenancy with room for thoughtful upgrades based on commercial real estate analysis.
The property sits in a suburban pocket of the Albany Schenectady Troy metro where neighborhood occupancy trends are a bright spot. The area s occupancy ranks 46 out of 295 metro neighborhoods (competitive among Albany Schenectady Troy neighborhoods) and is in the top quartile nationally, according to CRE market data from WDSuite. This backdrop points to dependable leasing and lower downtime risk relative to weaker submarkets.
The renter-occupied share of housing is modest at the neighborhood level (about 17% renter concentration), signaling a primarily owner-occupied area and a smaller but stable tenant base. Median contract rents benchmark low relative to incomes (neighborhood rent-to-income sits in an above-average national percentile), which can support retention and measured rent growth strategies rather than aggressive mark-to-market plays.
Livability is driven more by residential stability than by dense retail. Amenities and food-and-beverage options are limited nearby (amenities rank near the metro middle to lower tier), though basic grocery access tracks around the metro median. For investors, this suggests demand is anchored by commuting households and local services rather than lifestyle-driven foot traffic.
Within a 3-mile radius, demographics indicate a growing tenant base: population and household counts have expanded in recent years, and households are projected to continue increasing, which supports occupancy stability and absorption. Neighborhood home values are moderate for the region, which can create some competition from ownership options; however, elevated incomes and a low rent-to-income profile indicate multifamily remains a practical choice for households prioritizing flexibility and commute convenience.
Comparable neighborhood crime statistics are not available in WDSuite for this location. Investors typically benchmark underwriting assumptions against county and Albany Schenectady Troy metro trends and emphasize property-level measures (lighting, access control, and resident engagement) alongside insurer guidance to align with risk management standards.
Proximity to regional employers supports commuter demand, with access to healthcare distribution and technology offices that can help with leasing consistency.
- McKesson healthcare distribution (6.1 miles)
- IBM technology offices (41.3 miles)
64 Fawn Rd offers 111 units averaging 1,015 square feet, providing larger floor plans that appeal to longer term renters. Built in 1974, the vintage suggests potential value add through unit modernizations and systems upgrades, while the neighborhood s strong occupancy in the top quartile nationally and competitive within the metro supports cash flow stability during renovations. According to CRE market data from WDSuite, neighborhood rent levels track favorably against incomes, a dynamic that tends to aid retention and reduce turnover costs when paired with measured rent strategies.
The area s renter concentration is relatively low, indicating a smaller but durable tenant pool, while 3-mile demographics point to population growth and a continuing increase in households that can expand the renter pool over time. Amenities are thinner in the immediate vicinity, so demand is more tied to commute convenience and residential stability than lifestyle offerings a manageable consideration when underwriting leasing velocity and renewal probability.
- Strong neighborhood occupancy supports steady leasing during renovations
- 1974 vintage allows targeted value add and systems modernization
- Larger average unit sizes (approx. 1,015 sf) align with family and roommate demand
- 3-mile household growth underpins a broader tenant base over time
- Risk: lower renter concentration and limited nearby amenities may temper lease-up speed