| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Good |
| Demographics | 59th | Fair |
| Amenities | 20th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 13 Birch Glen Dr, Waterford, NY, 12188, US |
| Region / Metro | Waterford |
| Year of Construction | 1987 |
| Units | 25 |
| Transaction Date | 2003-05-22 |
| Transaction Price | $1,150,000 |
| Buyer | BIRCH GLEN ASSOCIATES LLC |
| Seller | BIRCH GLEN APARTMENTS INC |
13 Birch Glen Dr, Waterford NY Multifamily Opportunity
Neighborhood occupancy trends are above the metro median and have improved over five years, supporting income stability for well-run assets, according to WDSuite’s CRE market data.
Located in Waterford within the Albany–Schenectady–Troy metro, the surrounding neighborhood carries a B- rating and sits above the metro median for occupancy, indicating steady renter demand at the neighborhood level rather than the property. Parks access is comparatively strong (top quartile nationally), while day-to-day amenities like cafes, restaurants, and pharmacies are limited locally, which can concentrate demand toward nearby corridors for services.
The area s housing stock skews older (average vintage 1939 across the neighborhood), positioning a 1987 asset as relatively newer versus much of the local competition. For investors, this typically implies fewer near-term structural obsolescence issues than prewar stock, while still planning for modernization of building systems and common areas to remain competitive.
Renter-occupied housing accounts for roughly a quarter to a third of neighborhood units (above the metro median share), signaling a defined tenant base that supports multifamily leasing. Neighborhood occupancy is above the metro median with a positive five-year trend, which can aid cash-flow consistency and retention at stabilized assets when paired with disciplined lease management.
Within a 3-mile radius, population and households have grown over the last five years, and forecasts point to continued household expansion. This suggests a larger tenant base and potential renter pool expansion that can support occupancy stability. Median contract rents in the neighborhood are moderate with five-year growth, while a low rent-to-income ratio (top national percentile) indicates comparatively low affordability pressure for renters a favorable backdrop for renewals and lease management. Elevated home values relative to some areas of the country reinforce reliance on rental options, which can support pricing power while still monitoring retention risk.
Neighborhood-level crime data for this specific area is not available in the WDSuite dataset provided here. Investors typically benchmark local safety conditions against the Albany Schenectady Troy metro and review municipal reports and recent trends to assess tenant retention and operating risk.
Regional employers provide a diversified white-collar and healthcare-adjacent employment base that supports commuter demand for rentals, notably IBM and McKesson within driving range.
- IBM information technology & corporate offices (12.3 miles)
- McKesson healthcare distribution offices (35.1 miles)
This 25-unit 1987 multifamily asset benefits from a neighborhood that is above the metro median for occupancy with a positive five-year trajectory, pointing to durable leasing conditions at the neighborhood level. The property s vintage is newer than much of the surrounding prewar stock, offering a competitive position while leaving scope for targeted value-add through system upgrades and unit finishes.
Within a 3-mile radius, recent and forecast household growth suggests a gradually expanding tenant base that can support stable absorption and renewals. Moderate neighborhood rents alongside a low rent-to-income ratio indicate manageable affordability pressure, which can aid retention; based on commercial real estate analysis from WDSuite, these dynamics align with steady cash-flow potential when operations are well managed. Sparse immediate amenities and average school ratings warrant underwriting discipline on concessions and marketing to capture demand from commuters and nearby employment centers.
- Above-median neighborhood occupancy with five-year improvement supports income stability.
- 1987 construction is newer than much of the local stock, enabling targeted value-add rather than full repositioning.
- Growing 3-mile household base expands the renter pool and supports leasing.
- Moderate neighborhood rents and low rent-to-income ratios favor retention and measured pricing power.
- Risks: limited nearby amenities and average school ratings; plan for competitive marketing and resident services.