| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Best |
| Demographics | 69th | Good |
| Amenities | 51st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 175 Perry Rd, Saratoga Springs, NY, 12866, US |
| Region / Metro | Saratoga Springs |
| Year of Construction | 1972 |
| Units | 21 |
| Transaction Date | 2017-12-22 |
| Transaction Price | $142,500 |
| Buyer | HATHAWAY KENNETH |
| Seller | PLUMMER STEVEN E |
175 Perry Rd Saratoga Springs Multifamily Value-Add Opportunity
Neighborhood occupancy is strong and renter demand is steady, according to WDSuite’s CRE market data, supporting lease stability for a 21‑unit asset in Saratoga Springs. This commercial real estate analysis points to durable fundamentals with measured upside from asset improvements rather than aggressive rent assumptions.
The property sits in a suburban neighborhood that ranks 16 out of 295 in the Albany–Schenectady–Troy metro, placing it in the top quartile among metro neighborhoods and signaling competitive location fundamentals. Neighborhood occupancy is 98.0% (rank 43 of 295; top quartile nationally at the 89th percentile), which supports near-term leasing stability and lower downtime between turns.
Within a 3‑mile radius, population has grown in recent years and households have expanded, with forecasts pointing to further household growth by 2028. This trend indicates a larger tenant base and supports occupancy stability, even as average household size edges lower — a pattern that can increase demand for smaller multifamily units. The neighborhood’s demographics score is above average (69th percentile nationally), suggesting a balanced renter pool for a property of this scale.
Retail and daily‑needs access is adequate for a suburban setting: cafes score competitively (75th percentile nationally), while groceries and pharmacies track around the middle of national peers. These amenity levels are sufficient to support renter retention without requiring urban densities. Median contract rents benchmark high for the area (rank 4 of 295; 91st percentile nationally), while the neighborhood rent‑to‑income ratio sits at 0.25 (13th percentile nationally), indicating lower affordability pressure and potential for steadier lease performance.
The neighborhood’s housing stock skews newer (average vintage 2006; rank 3 of 295), while the subject was built in 1972. For investors, the older vintage points to capital planning needs but also classic value‑add levers — unit renovations, common‑area refresh, and systems upgrades — to compete effectively against newer comparables. Renter‑occupied housing comprises roughly a third of neighborhood units (35.2%; rank 82 of 295), implying a moderate renter concentration and a stable, but not saturated, tenant base.
Comparable crime metrics for this neighborhood are not available in the current WDSuite dataset. Investors typically contextualize safety by comparing neighborhood trends to metro benchmarks and conducting property‑level diligence (lighting, access control, incident reports) rather than relying on block‑level anecdotes.
Given the absence of ranked or percentile crime data, use standard underwriting practices: review recent police reports, speak with local property managers, and compare any findings against peer neighborhoods within the Albany–Schenectady–Troy metro.
175 Perry Rd offers an attainable, smaller‑scale entry to Saratoga Springs with strong neighborhood occupancy and a moderate renter base. Built in 1972, the asset is older than the area’s predominantly 2000s‑era stock, positioning it for value‑add renovations that can enhance competitiveness without relying on outsized rent growth. According to CRE market data from WDSuite, the surrounding neighborhood ranks in the metro’s top tier with high occupancy and median rents benchmarking toward the upper end, while rent‑to‑income levels indicate manageable affordability pressure that can support retention.
Within a 3‑mile radius, continued population gains and notable household growth point to renter pool expansion through the forecast horizon. Ownership costs in this area are relatively accessible compared with many coastal markets, which can introduce some competition from for‑sale options; however, steady household formation and smaller household sizes support consistent demand for multifamily units, particularly well‑maintained, renovated product.
- High neighborhood occupancy supports leasing stability and lower downtime.
- 1972 vintage offers clear value‑add pathways to compete with newer stock.
- 3‑mile household growth and smaller household sizes expand the renter base.
- Rent‑to‑income levels suggest lower affordability pressure, aiding retention and pricing discipline.
- Risk: relatively accessible ownership options may cap pricing power; underwriting should prioritize renovation ROI and unit mix strategy.