| 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 | 1983 |
| Units | 56 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
19 Wells St Saratoga Springs Multifamily Investment
Neighborhood data points to a deep renter base and a high-cost ownership market, according to WDSuite’s CRE market data, supporting steady demand for well-positioned units in Saratoga Springs. Neighborhood-level occupancy shows some variability, so underwriting should emphasize tenant retention and lease management.
The property sits in an Inner Suburb setting within the Albany–Schenectady–Troy metro where neighborhood fundamentals are generally solid for multifamily demand. The area’s overall neighborhood ranking is 109 out of 295 metro neighborhoods, which is competitive among Albany–Schenectady–Troy neighborhoods. Median household income benchmarks in the top decile nationally, and home values are also elevated, signaling a high-cost ownership market that can sustain renter reliance and support pricing power for appropriately positioned product (based on CRE market data from WDSuite).
Renter-occupied share is 53.1% at the neighborhood level, ranking 40 out of 295 metro neighborhoods — a top-quartile position locally that indicates depth in the tenant base and supports leasing velocity for multifamily. Neighborhood occupancy levels are below national norms, suggesting operators should focus on renewals and targeted marketing to maintain stability. Reported rent-to-income is moderate, which can help limit affordability pressure and support retention versus more stretched submarkets.
Within a 3-mile radius, demographics indicate a broad renter pool anchored by working-age households, with household counts up modestly in recent years and projected to expand further by 2028. Forecasts point to population growth and a larger number of households alongside slightly smaller average household sizes — dynamics that typically add to demand for smaller units and efficient layouts, supporting occupancy for well-priced apartments. Neighborhood schools and transit specifics are not detailed here; investors should validate microlocation access and services during due diligence.
The average construction year for nearby housing stock skews older (early 20th century), whereas this asset was built in 1983. That vintage advantage can enhance competitive positioning versus older product, though selective modernization may still be prudent to meet current renter expectations. Limited amenity density is noted in the immediate neighborhood dataset, so on-site features and walkability to downtown Saratoga Springs should be evaluated as part of the leasing strategy.
Comparable crime statistics are not available in the provided WDSuite neighborhood dataset for this location. Investors typically benchmark safety by reviewing metro-level trends, police reports, and property-level incident histories, then aligning leasing assumptions and security measures accordingly. Use local comps and recent trend data to assess whether safety perceptions materially affect leasing or retention.
Regional employment access includes major healthcare and technology distribution and services, supporting commuter demand that can underpin renter retention. Nearby anchors include McKesson and IBM.
- McKesson — healthcare distribution (18.0 miles)
- IBM — technology & services (30.3 miles)
Built in 1983 with 56 units, the property offers a relative vintage advantage versus nearby housing stock that averages far older, positioning it well against legacy inventory while still allowing value-add through targeted modernization of interiors and systems. Neighborhood data shows a strong renter concentration and elevated ownership costs, factors that typically support a durable tenant base and pricing discipline for appropriately managed assets. According to CRE market data from WDSuite, the neighborhood’s income levels rank high nationally and rent-to-income appears manageable, which can aid lease retention.
Within a 3-mile radius, forecasts call for growth in population and households by 2028, alongside slightly smaller household sizes — trends that can expand the renter pool and favor efficient floor plans. The property’s smaller average unit size suggests an operational focus on renters prioritizing location and value, with upside from thoughtful amenity programming and renewal strategies. Key risks include neighborhood-level occupancy running below national norms and limited immediate amenity density, warranting disciplined leasing and marketing.
- 1983 vintage outperforms older neighborhood stock, with room for targeted modernization
- High household incomes and a high-cost ownership market support renter demand and pricing power
- Strong renter-occupied share at the neighborhood level indicates depth of tenant base
- 3-mile forecasts show population and household growth, supporting occupancy stability
- Risk: neighborhood occupancy trails national norms and local amenity density is limited, requiring focused leasing execution