| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Fair |
| Demographics | 54th | Fair |
| Amenities | 42nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2 Morgans Run, Schuylerville, NY, 12871, US |
| Region / Metro | Schuylerville |
| Year of Construction | 1993 |
| Units | 24 |
| Transaction Date | 2002-10-08 |
| Transaction Price | $110,876 |
| Buyer | PICCIRILLO DAWN MARIE |
| Seller | CJ LAING CONSTRUCTION INC |
2 Morgans Run, Schuylerville NY Multifamily Investment
Neighborhood occupancy has trended stable and the asset s 1993 vintage is relatively competitive versus older local stock, according to WDSuite s CRE market data. For investors, the primary takeaway is steady renter demand supported by local amenities and schools rather than volatility-driven leasing.
Schuylerville s neighborhood setting rates a B and ranks 115 of 295 in the Albany Schenectady Troy metro, making it competitive among Albany Schenectady Troy neighborhoods. Dining and daily-needs access are a relative strength: restaurants and cafes score in higher national percentiles, and grocery availability is strong for the metro. Average school ratings sit near the top quartile nationally and are also among the stronger results in the metro, a combo that typically supports leasing and retention.
The asset s 1993 construction is newer than the area s older housing base (many homes pre 1950), which can enhance competitive positioning against legacy product. That said, investors should still underwrite aging systems and selective modernization to meet current renter preferences.
Tenure patterns indicate a smaller but durable renter-occupied share in the immediate neighborhood, with a similar signal in the 3-mile radius demographics where renters comprise roughly three-tenths of housing units. This points to a defined renter pool rather than a transient market, favoring steady absorption for well-managed, appropriately priced units.
Within a 3-mile radius, recent population growth has been modest while household counts have increased, and forecasts anticipate a slight population dip alongside continued growth in total households and smaller average household size. For multifamily owners, that shift typically expands the tenant base and supports occupancy stability even if overall population softens.
Ownership costs in this area are more accessible than high-cost coastal markets, which can introduce some competition from for-sale options. Even so, median rents and rent-to-income ratios trend in a range that supports lease retention and measured rent growth, based on CRE market data from WDSuite.
Comparable neighborhood-level safety data are not available in this dataset. Investors typically benchmark conditions against nearby Albany Schenectady Troy neighborhoods and review multi-year trends to understand directionality rather than any one-year snapshot.
Prudent underwriting would pair metro and municipal sources with property-level measures (lighting, access controls, and resident engagement) to support leasing and retention without relying on block-level assumptions.
Proximity to regional corporate employment supports commute convenience for renters, with access to healthcare distribution and technology offices noted below.
- McKesson healthcare distribution (16.4 miles)
- IBM technology offices (32.5 miles)
This 24-unit property s 1993 vintage offers a relative quality advantage over much of the neighborhood s older housing stock while remaining a manageable scope for targeted capital programs. Neighborhood occupancy has been solid, and 3-mile demographics show rising household counts and smaller household sizes, which generally expand the renter pool and support leasing stability. According to CRE market data from WDSuite, local rents and rent-to-income levels sit in a range conducive to retention, while schools and everyday amenities strengthen the living proposition.
Forward-looking signals point to steady demand with measured risk: ownership remains comparatively accessible, implying some competition from for-sale housing, and investors should budget for system updates typical of early-1990s construction to maintain competitiveness against renovated supply.
- Newer 1993 vintage versus older neighborhood stock; scope for targeted modernization to lift NOI
- Solid neighborhood occupancy and strong daily-needs access support leasing and retention
- 3-mile radius shows household growth and smaller household sizes, expanding the tenant base
- Investor consideration: comparatively accessible ownership market can compete with rentals
- Risk management: underwrite aging systems typical of early-1990s construction and plan for selective upgrades