| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Good |
| Demographics | 41st | Poor |
| Amenities | 62nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 180 N Main St, Mechanicville, NY, 12118, US |
| Region / Metro | Mechanicville |
| Year of Construction | 1980 |
| Units | 101 |
| Transaction Date | 2023-03-30 |
| Transaction Price | $9,000,000 |
| Buyer | 180 MAIN ST N HOUSING DEVELOPMENT COMPANY TNC |
| Seller | MECHANICVILLE HOUSING DEVELOPMENT FUND C |
180 N Main St Mechanicville Multifamily Investment
Renter-occupied housing is pronounced in the surrounding neighborhood, supporting stable leasing conditions and steady tenant demand, according to WDSuite s CRE market data. Pricing sits near regional norms, suggesting room for disciplined revenue management rather than outsized concessions.
Mechanicville sits within the Albany Schenectady Troy metro and this neighborhood is rated A , ranking 75 out of 295 metro neighborhoods, which is competitive among Albany Schenectady Troy neighborhoods. Amenity access trends well: neighborhood amenity rank is 15 of 295, and nationally it performs strongly for restaurants and daily-needs retail, which can bolster resident satisfaction and lease retention for workforce-oriented assets.
Neighborhood-level renter concentration is high: an estimated 55.9% of housing units are renter-occupied (92nd percentile nationally). For investors, that depth of renter households points to a broad tenant base and supports occupancy durability across cycles. Reported neighborhood occupancy is approximately stable relative to national norms (around the 53rd percentile), indicating generally balanced supply demand conditions rather than a reliance on outsized concessions.
Daily conveniences are a relative strength. The neighborhood sits in the national top decile for restaurants (97th percentile) and is also strong for groceries (92nd percentile), parks (93rd percentile), and pharmacies (93rd percentile). While cafe and childcare densities rank low within the metro, the broader mix of essentials helps underpin livability and retention.
Within a 3-mile radius, demographics indicate a larger tenant base over time: population grew roughly in the low single digits over the past five years, households increased by about a tenth, and projections call for continued population growth and a notable increase in households by 2028. This points to renter pool expansion that can support occupancy stability and measured rent growth. Median home values in the neighborhood sit below many coastal markets, yet the value-to-income ratio is elevated versus national norms (around the 70th percentile), which can reinforce reliance on multifamily housing. Rent-to-income sits near the national middle, suggesting manageable affordability pressure and room for disciplined rent optimization.
The property s 1980 vintage compares newer than the area s older housing stock (average neighborhood construction year near the early 1900s). For investors, this typically means fewer near-term structural upgrades versus prewar assets, while still planning for modernization of building systems and common areas to remain competitive against newer deliveries.
Neighborhood-level crime benchmarks are not available in WDSuite for this location, so comparative safety insights at the neighborhood scale cannot be quantified here. Investors commonly review city and county trend data, property-level incident logs, and insurer or lender assessments to contextualize risk alongside standard multifamily underwriting.
Regional employment is anchored by nearby corporate offices that broaden the commuting shed and help sustain renter demand. The following employers offer diversified office and services roles within commuting distance.
- IBM corporate offices (18.2 miles)
- McKesson corporate offices (29.3 miles)
This 101-unit asset built in 1980 benefits from a renter-heavy neighborhood, strong everyday amenities, and occupancy conditions that track near national norms. According to CRE market data from WDSuite, the surrounding area s high share of renter-occupied units supports a deep tenant base, while national top-decile access to restaurants, groceries, parks, and pharmacies enhances livability and lease retention. The 1980 vintage is comparatively newer than much of the local housing stock, implying less near-term structural work than prewar assets, with potential upside via targeted renovations and system modernization.
Within a 3-mile radius, population and household counts have increased and are projected to continue rising, expanding the renter pool and supporting occupancy stability. Ownership costs benchmark as relatively high versus incomes in the neighborhood context, which can sustain reliance on rental housing, while rent levels sit near national midpoints, allowing for disciplined revenue management without leaning on heavy concessions.
- Renter-heavy neighborhood supports depth of demand and occupancy stability.
- Strong daily-needs amenities (restaurants, groceries, parks, pharmacies) bolster retention.
- 1980 vintage offers value-add through targeted unit and system upgrades versus older stock.
- Expanding 3-mile household base points to a larger tenant pool and steady leasing.
- Risks: limited cafe/childcare density and unknown neighborhood crime statistics warrant additional diligence.