| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Best |
| Demographics | 87th | Best |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 23 Seward St, Saratoga Springs, NY, 12866, US |
| Region / Metro | Saratoga Springs |
| Year of Construction | 1978 |
| Units | 57 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
23 Seward St Saratoga Springs Multifamily Opportunity
Positioned in an A+-rated inner-suburb neighborhood of Saratoga Springs, this 57-unit property benefits from a strong renter base and solid local amenities, according to WDSuite’s CRE market data. Neighborhood fundamentals point to steady leasing demand supported by higher home values and competitive schools.
The immediate neighborhood ranks 7th among 295 Albany–Schenectady–Troy metro neighborhoods (A+), signaling competitive fundamentals versus local peers. Amenities score in the top quartile metro-wide (rank 30 of 295) and sit around the mid-50s nationally, with particularly strong access to groceries, parks, and pharmacies that supports day-to-day convenience for residents.
Schools average roughly 4.0 out of five, placing the area in the top quartile nationally and above most metro peers (rank 8 of 295). For investors, stronger school performance tends to aid retention for family renters and can help stabilize occupancy across cycles.
Median contract rent in the neighborhood trends around the mid-$1,300s and sits above national norms (roughly mid-70s percentile), while the rent-to-income ratio near 0.16 suggests manageable affordability pressure in this submarket. Elevated median home values (around the mid-$300Ks, ~75th percentile nationally) indicate a high-cost ownership market that can reinforce reliance on multifamily rentals, supporting pricing power and lease stability when managed carefully.
Within a 3-mile radius, demographics show a modest recent population dip but a projected increase in population and households over the next five years, pointing to a larger tenant base ahead. Forecasts also indicate slightly smaller household sizes, which can translate into more households seeking rental options and support for occupancy. The neighborhood’s renter-occupied share is high compared with national peers (upper percentiles), indicating depth in the tenant pool; however, neighborhood occupancy currently trails the metro median, suggesting that active leasing and asset-level execution will matter.
Vintage context matters: the building’s 1978 construction is newer than the neighborhood’s older average housing stock from the late 1940s. This positioning can be competitive versus prewar assets, though investors should still plan for ongoing system upgrades and selective renovations to meet current renter expectations.
Comparable safety metrics for this neighborhood are not available in WDSuite’s dataset for the Albany–Schenectady–Troy metro. Without ranked data or national percentiles, investors should rely on standard diligence—reviewing city and county sources, recent trend reports, and property-level security practices—to contextualize risk alongside the area’s otherwise competitive fundamentals.
Regional corporate offices provide diversified white-collar employment within commuting distance, supporting renter demand and lease retention for professionals. The anchors below reflect realistic commute sheds for Saratoga Springs.
- McKesson — healthcare distribution offices (18.0 miles)
- IBM — technology & services offices (30.4 miles)
This mid-sized, 57-unit asset in Saratoga Springs aligns with strong neighborhood credentials (A+, top-tier metro rank) and a renter base supported by higher ownership costs and solid schools. Based on CRE market data from WDSuite, neighborhood rents sit above national norms while rent-to-income levels indicate manageable affordability pressure—favorable for retention and pricing power when paired with disciplined lease management.
Built in 1978, the property is newer than much of the local housing stock, offering relative competitiveness versus older assets while still presenting value-add potential through targeted modernization and system updates. Forward-looking 3-mile demographics point to population and household growth, suggesting a larger tenant base that can underpin occupancy; the area’s below-metro-median occupancy underscores the importance of proactive leasing and operations.
- A+-rated neighborhood with top-quartile metro amenities and nationally strong schools supporting tenant retention.
- Rents above national norms with manageable rent-to-income levels, supporting stabilized cash flow potential.
- 1978 vintage offers competitive positioning versus older stock and clear value-add/modernization pathways.
- 3-mile forecasts indicate renter pool expansion via population and household growth.
- Risk: neighborhood occupancy trails the metro median; execution on leasing, marketing, and unit finishes will be key.