| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Best |
| Demographics | 67th | Good |
| Amenities | 20th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9 Kirby Rd, Saratoga Springs, NY, 12866, US |
| Region / Metro | Saratoga Springs |
| Year of Construction | 2003 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
9 Kirby Rd Saratoga Springs Multifamily Opportunity
Neighborhood occupancy has held in a stable range and renter demand is supported by population and income growth, according to WDSuite’s CRE market data. For investors, the appeal centers on steady fundamentals in a suburban setting with room for value-add execution.
Located in suburban Saratoga Springs within the Albany–Schenectady–Troy, NY metro, the neighborhood is competitive among 295 metro neighborhoods (overall rank: 76), suggesting balanced location fundamentals for workforce and lifestyle renters. Neighborhood occupancy is 92.3% (neighborhood-wide, not property-specific), and the renter-occupied share sits at 33.8%—an above-metro-median renter concentration that indicates a moderate but durable tenant base for multifamily.
Amenity access trends toward the metro median: restaurants are around average (51st national percentile), while cafes, groceries, parks, and pharmacies are thinner locally. For investors, that typically implies car-oriented living and the importance of on-site conveniences. Average school ratings land in the top quartile among 295 metro neighborhoods (3.0 out of 5), which can aid retention for households prioritizing school access.
Home values in the neighborhood sit at elevated levels for the metro (69th national percentile; value-to-income ratio in the 73rd percentile), which often sustains reliance on rental housing and supports lease retention. At the same time, rent-to-income metrics (0.18) point to manageable affordability pressure relative to many markets, offering room for measured rent optimization and disciplined lease management rather than aggressive pricing.
Demographics within a 3-mile radius indicate a growing renter pool: population and households have expanded over the last five years, with projections calling for further population growth through 2028. Household sizes are relatively small (top decile nationally), which supports consistent demand for 1–2 bedroom layouts. The property’s 2003 vintage is newer than the neighborhood’s average construction year of 1986, providing a competitive edge over older stock while still leaving scope to modernize interiors, common areas, and building systems to lift achievable rents.
Neighborhood-level public crime metrics are limited in the available dataset for this submarket. Investors typically benchmark safety against Albany–Schenectady–Troy metro trends and corroborate with local law enforcement or third-party reports during diligence. As with most suburban locations, underwriting should incorporate lighting, access control, and resident screening policies to support retention and asset performance.
Regional employers accessible by car underpin a diversified workforce, supporting renter demand and lease stability for suburban multifamily. Notable nearby corporate offices include the following organizations.
- McKesson — healthcare distribution offices (18.6 miles)
- IBM — technology & services offices (30.2 miles)
This 32-unit property, built in 2003, benefits from neighborhood-wide occupancy stability and an above-metro-median renter-occupied share, supporting steady tenant demand. The asset is newer than the local average vintage, offering competitive positioning versus older stock and a clear path for value-add upgrades to interiors and common areas. Within a 3-mile radius, population and household growth—along with higher home values for the metro—reinforce rental reliance and support retention. According to CRE market data from WDSuite, rent-to-income levels suggest manageable affordability pressure, enabling disciplined pricing and revenue management rather than outsized concessions.
Forward-looking demographics indicate continued population growth and income gains in the area, which can bolster leasing velocity and occupancy. The suburban context implies car-oriented living and places a premium on on-site amenities and professional operations to differentiate from older comparables.
- Neighborhood occupancy stability supports consistent cash flow potential (neighborhood-level metric).
- 2003 vintage offers a competitive edge vs. older local stock with value-add upside.
- Elevated ownership costs in the area help sustain renter reliance and lease retention.
- 3-mile population and income growth expand the prospective tenant base.
- Risks: thinner nearby amenities and car-oriented living increase the importance of on-site features and operations; monitor projections for any shift toward higher owner share.