| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Best |
| Demographics | 85th | Best |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 19 Wells St, Saratoga Springs, NY, 12866, US |
| Region / Metro | Saratoga Springs |
| Year of Construction | 1974 |
| Units | 56 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
19 Wells St Saratoga Springs Multifamily Investment
Positioned in an inner-suburb pocket of Saratoga Springs, this 56-unit asset benefits from a high-cost ownership market and a renter base supported by forecast household growth, according to WDSuite’s CRE market data.
The property sits within an Inner Suburb neighborhood rated B+ and ranked 109 out of 295 Albany–Schenectady–Troy neighborhoods, placing it competitive among metro peers. The area shows solid income characteristics and elevated home values, which tend to sustain rental demand as ownership costs remain high relative to local incomes.
Neighborhood metrics point to a high-cost ownership environment: median home values rank 5th of 295 (top decile metro-wide) with a value-to-income ratio ranked 9th, while household incomes also rank strongly (22nd of 295). For investors, this combination suggests pricing power for well-positioned rentals and supports retention where lease management is disciplined.
Current neighborhood occupancy is softer, with rates in the lower national quartiles, implying the need for hands-on leasing and targeted amenities to differentiate. However, renter concentration remains meaningful across the immediate area, and within a 3-mile radius WDSuite data indicates an increase in households by 2028 alongside a smaller average household size, expanding the tenant base and supporting future absorption.
Amenities immediately within the small neighborhood footprint are limited by the dataset, but the location functions as workforce housing tied to regional employment centers. Use cases that emphasize convenience, professional services access, and well-executed property operations can compete effectively. This perspective aligns with practical commercial real estate analysis rather than amenity-led positioning.
Comparable neighborhood-level safety metrics are not available in WDSuite for this specific location, so investors should benchmark against city and metro trends and rely on third-party diligence. A practical underwriting approach is to evaluate recent police blotter summaries, property-level incident reports, and lighting/security coverage, then calibrate operating plans accordingly.
From an investment standpoint, prioritize measures that support resident comfort and retention (lighting, access controls, clear community standards) and assess how these policies compare with nearby multifamily competitors. This keeps assumptions grounded without relying on block-level claims.
Regional employers within commuting range help support leasing stability for workforce-oriented assets. Nearby corporate offices include McKesson and IBM, which contribute to a diversified white-collar employment base accessible by car.
- McKesson — healthcare distribution (18.0 miles)
- IBM — technology & services (30.2 miles)
Built in 1974, the asset is newer than much of the surrounding housing stock yet old enough that targeted systems upgrades and common-area improvements can unlock value-add potential. The neighborhood ranks competitively within the Albany–Schenectady–Troy metro, with high home values and strong incomes that reinforce sustained rental demand and support rent levels where operations are well executed. Within a 3-mile radius, WDSuite data points to population growth and a notable increase in households by 2028, indicating renter pool expansion and a broader base for leasing.
While neighborhood occupancy trends are below national averages, disciplined marketing, unit turns, and amenity alignment can improve capture and retention. According to CRE market data from WDSuite, the surrounding ownership market remains high-cost relative to incomes, which generally supports multifamily demand and can aid pricing power for renovated product.
- High-cost ownership market supports durable rental demand and pricing power
- 1974 vintage offers value-add potential via unit and systems upgrades
- Forecast growth in households within 3 miles expands the tenant base
- Risk: neighborhood occupancy is softer; requires active leasing and competitive positioning