| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Good |
| Demographics | 47th | Poor |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 18 Riverview St, South Glens Falls, NY, 12803, US |
| Region / Metro | South Glens Falls |
| Year of Construction | 1978 |
| Units | 101 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
18 Riverview St South Glens Falls 101-Unit Opportunity
Neighborhood occupancy trends point to stable renter demand and pricing discipline, according to WDSuite s CRE market data. A 1978 vintage positions this asset competitively versus older local stock while leaving room for targeted upgrades.
South Glens Falls 7 neighborhood fundamentals are solid for workforce-oriented rentals. The area is ranked 71 out of 295 metro neighborhoods, placing it in the top quartile across the Albany Schenectady Troy metro. Neighborhood occupancy is reported at 94.9% (competitive among metro peers and above national norms), supporting income stability for professionally managed assets.
Daily convenience is a relative strength. Amenity access sits in the metro 7s top quartile (rank 31 of 295). Caf E9, grocery, restaurant, and park density all rank near the top of the region (e.g., grocery rank 29; restaurant rank 21; park rank 26 of 295), which tends to aid tenant retention. Limited childcare and pharmacy presence (both at the bottom of metro rankings) is a practical consideration for some renter households.
Tenure dynamics indicate depth in the renter base: renter-occupied housing represents roughly half of units in the neighborhood (rank 54 of 295, a top-quartile renter concentration among metro areas). This supports lease-up and backfill, especially for smaller formats. With a neighborhood rent-to-income ratio around the lower end nationally (17th percentile), affordability pressure is comparatively lighter, which can help sustain renewals and reduce turnover risk from rent burdens.
Demographic statistics are aggregated within a 3-mile radius. The area has posted measured population and household growth over the past five years, with forecasts calling for further increases through 2028. Rising median incomes and continued household expansion point to a gradually enlarging renter pool, which can support occupancy stability and steady leasing velocity in line with broader commercial real estate analysis for inner-suburb locations.
Asset vintage is a differentiator locally. The average neighborhood construction year skews older (1935; rank 196 of 295, low national percentile), so a 1978 property can compete favorably against much older stock. Investors should still plan for aging-system upgrades and selective renovations to maintain competitiveness and capture rent premiums.
School ratings average 1.5 out of 5 (rank 96 of 295; national percentile 26). While not a direct proxy for demand, lower school scores can influence family renter preferences and should be considered in unit-mix and marketing strategy.
Comparable crime benchmarking is not available in WDSuite for this neighborhood at this time (no rank among the metro 7s 295 neighborhoods and no national percentile reported). Without a consistent baseline, investors typically pair municipal crime statistics and property-level incident histories with on-site security features and lighting reviews to contextualize risk.
Given the absence of standardized rank data, focus on trend and proximity analyses at the submarket and municipal levels, along with resident feedback and ownership operator controls, to inform underwriting assumptions.
Nearby employers provide a diversified commuter base that supports renter demand and retention, led by healthcare distribution and paper products manufacturing represented below.
- McKesson healthcare distribution (2.9 miles)
- International Paper Company paper products manufacturing (42.7 miles)
This 1978, 101-unit asset in South Glens Falls benefits from stable neighborhood occupancy, a renter-occupied share in the metro 7s top quartile, and amenity access that supports retention. The property 7s vintage is newer than much of the surrounding housing stock, offering a competitive edge versus older assets while leaving scope for targeted capital projects to drive rent positioning and efficiencies.
Population and household growth within a 3-mile radius point to a gradually expanding tenant base, and relatively low rent-to-income levels suggest manageable affordability pressure for residents. According to CRE market data from WDSuite, neighborhood occupancy trends are above national norms and competitive within the metro, aligning with steady leasing conditions. Key considerations include lower average school ratings and service gaps in childcare and pharmacy access, which should be reflected in unit mix, amenity programming, and marketing.
- Competitive positioning versus older neighborhood stock with 1978 vintage; plan targeted system and interiors updates
- Stable neighborhood occupancy and top-quartile renter concentration support leasing and renewals
- Amenity access (grocery, restaurants, parks) in top metro tiers aids retention and day-to-day livability
- Expanding 3-mile population and households indicate a growing renter pool and demand depth
- Risks: older-asset capex planning, lower school ratings, and limited childcare/pharmacy options to underwrite