| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Good |
| Demographics | 47th | Poor |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 42 Fairview St Ext, South Glens Falls, NY, 12803, US |
| Region / Metro | South Glens Falls |
| Year of Construction | 1989 |
| Units | 48 |
| Transaction Date | 2002-08-05 |
| Transaction Price | $900,000 |
| Buyer | HOFFMAN PETER J |
| Seller | MONTCLAIR GROUP LTD |
42 Fairview St Ext South Glens Falls Value-Add Multifamily
Stabilized neighborhood fundamentals and a balanced renter base point to durable leasing, according to WDSuite’s CRE market data. Newer vintage versus local stock suggests a practical value-add path without losing day-one competitiveness.
The property sits in an Inner Suburb of the Albany–Schenectady–Troy metro that is competitive among metro neighborhoods (71 out of 295), based on WDSuite’s CRE market data. Neighborhood occupancy is about 94.9% with a modest multi‑year uptick, reinforcing leasing stability at the submarket level rather than at the property itself.
Amenity access is a relative strength: restaurants, groceries, cafes, and parks each track in the top quartile nationally, supporting daily convenience and renter appeal. By contrast, limited childcare and pharmacy density suggests residents rely on nearby nodes, which is manageable but worth factoring into marketing and service positioning.
Renter-occupied housing comprises roughly 47% of units in the neighborhood, indicating a meaningful tenant base that can support absorption and retention for a 48‑unit asset. Median rent sits near the middle of the metro distribution and the rent-to-income ratio around 0.23 points to manageable affordability pressure, which can aid renewals and reduce turnover risk.
Within a 3‑mile radius, population and household counts have grown over the past five years and are projected to expand further by 2028, implying a larger tenant pool and support for occupancy. Household incomes have also advanced, aligning with steady demand for well‑maintained workforce housing.
School ratings in this area trend below national averages, which can matter for family-oriented renters and leasing strategy. Home values are moderate relative to incomes, meaning ownership remains attainable for some households, so competitive finishes and targeted concessions may be useful to sustain pricing power against entry‑level ownership options.
Neighborhood-level crime metrics are not available in WDSuite for this area, so investors should review village and county trend data for additional context. A prudent approach is to compare multi‑year patterns and relative standing versus the Albany–Schenectady–Troy metro when available, focusing on consistency over time rather than single‑year swings.
Nearby employers provide a diversified employment base that supports renter demand and commute convenience, notably McKesson and International Paper Company.
- McKesson — healthcare distribution (3.1 miles)
- International Paper Company — paper & packaging (42.8 miles)
Built in 1989, the asset is materially newer than the surrounding neighborhood’s average vintage, offering relative competitiveness versus older stock while still accommodating a practical renovation program for interiors and building systems over time. Neighborhood occupancy is firm and renter concentration is substantial, supporting steady leasing and retention. According to commercial real estate analysis from WDSuite, amenity access ranks well nationally, which can help sustain demand and marketing velocity.
Demographic data aggregated within a 3‑mile radius indicates recent population and household growth with additional expansion forecast, pointing to a larger renter pool. Ownership remains accessible in the area, so a focus on durable finishes and operational efficiency can help maintain pricing power against entry‑level ownership alternatives.
- 1989 vintage offers competitive positioning versus older local stock with clear value‑add potential
- Stable neighborhood occupancy and meaningful renter-occupied share support leasing durability
- Strong national standing for everyday amenities enhances renter appeal and marketing
- 3‑mile growth in population and households expands the tenant base and aids absorption
- Risk: below‑average school ratings and attainable ownership can pressure retention without competitive finishes and proactive renewal strategy