| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Good |
| Demographics | 63rd | Fair |
| Amenities | 10th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 708 Saratoga Rd, Gansevoort, NY, 12831, US |
| Region / Metro | Gansevoort |
| Year of Construction | 2013 |
| Units | 46 |
| Transaction Date | 2009-08-28 |
| Transaction Price | $600,000 |
| Buyer | THOMAS J FARONE HOMEBUILDERS INCORPORATED |
| Seller | 708 ROUTE 9 LLC |
708 Saratoga Rd, Gansevoort NY — Suburban Multifamily Positioning
Newer construction relative to the area and strong neighborhood occupancy suggest stable demand, according to CRE market data from WDSuite. The asset’s suburban setting leans toward car-oriented living and workforce households, with leasing shaped more by metro connectivity than by immediate retail density.
Location and stock: The neighborhood sits within the Albany–Schenectady–Troy metro and carries a B- rating, placing it near the metro median (rank 153 of 295 neighborhoods). The average local construction year is 1981, and a 2013-built asset competes well against older stock, while investors should still plan for selective system updates over the hold.
Demand and occupancy context (neighborhood-level): Neighborhood occupancy is reported at the top of the metro (rank 1 of 295), indicating tight availability in the immediate area. This is a neighborhood-level reading and not the property’s occupancy, but it supports a case for rent roll durability if pricing and finishes remain competitive.
Tenure and renter base: The immediate neighborhood shows a low share of housing units that are renter-occupied (2.3%), which can limit the ultra-local tenant pool. Within a 3-mile radius, however, renter-occupied share is higher and households have grown modestly while average household size has edged lower, pointing to a gradually diversifying renter base that can support occupancy stability over time.
Income, values, and affordability dynamics: Neighborhood household incomes sit in the top quartile nationally and home values are above the national median. In a high-cost ownership context, this combination tends to sustain renter reliance on multifamily housing and can support lease retention, though price sensitivity should be monitored as new supply across the metro competes for similar renters.
Amenities and daily needs: Amenity density in the immediate neighborhood is limited (food, grocery, and pharmacy options rank in the lower tiers metro-wide), consistent with its suburban profile. Residents typically rely on arterial access to larger retail nodes; investors should underwrite accordingly for parking and car-dependent lifestyles rather than walkable retail premiums.
Neighborhood-specific safety metrics are not available in the provided dataset. Investors commonly benchmark conditions against Saratoga County and the broader Albany–Schenectady–Troy metro to gauge relative safety and leasing implications. As with any suburban location, underwriting should reflect property-level controls (lighting, access, and visibility) and tenant profile rather than block-level assumptions.
Proximity to regional employers supports a commuter tenant base, with access to healthcare distribution and technology offices that can aid retention for workforce renters.
- McKesson — healthcare distribution (7.7 miles)
- IBM — technology offices (39.7 miles)
Built in 2013 with 46 units, the property is newer than the neighborhood’s average vintage, offering relative competitiveness versus older stock while leaving room for value-add through targeted modernization over time. Tight neighborhood occupancy at the metro’s top rank indicates constrained local availability; pairing that with a suburban renter base that draws from a wider 3-mile radius can support leasing stability if pricing aligns with finish quality and commute convenience.
Household counts within 3 miles are projected to increase even as household sizes trend smaller, suggesting gradual renter pool expansion and steady demand for professionally managed units. Elevated incomes and above-median home values reinforce reliance on rentals, while limited immediate amenities argue for asset strategies that emphasize parking, access, and in-unit livability, per commercial real estate analysis validated by WDSuite’s CRE market data.
- Newer 2013 vintage competing well against older neighborhood stock, with scope for selective value-add
- Tight neighborhood occupancy supports rent roll durability if finishes and pricing remain competitive
- 3-mile household growth and smaller household sizes point to a broader, evolving renter base
- Elevated incomes and above-median ownership costs can maintain rental demand and retention
- Risk: low immediate renter concentration and limited walkable amenities may temper leasing velocity