| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Good |
| Demographics | 80th | Best |
| Amenities | 33rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5200 Plank Rd, Waterford, NY, 12188, US |
| Region / Metro | Waterford |
| Year of Construction | 1999 |
| Units | 20 |
| Transaction Date | 1998-09-10 |
| Transaction Price | $150,000 |
| Buyer | LUIZZI PETER |
| Seller | V G ENTERPRISES |
5200 Plank Rd Waterford NY Multifamily Investment
Neighborhood occupancy in the low-to-mid 90s points to steady leasing conditions, according to WDSuite s CRE market data. With a smaller, 20-unit footprint, the asset targets renter demand drawn by suburban convenience and regional employment access.
Situated in Waterford within the Albany Schenectady Troy metro, the neighborhood carries an A- rating and is competitive among Albany-Schenectady-Troy neighborhoods (ranked 53 out of 295). Occupancy for the neighborhood is reported around 93.5%, a level consistent with stable multifamily operations in similar suburban settings, based on CRE market data from WDSuite.
Local amenity density is mixed: pharmacies are above the metro median (rank 27 of 295), and grocery access is also above average for the metro, while parks and cafes are thinner than typical. For investors, this profile suggests day-to-day convenience for residents with fewer discretionary lifestyle anchors, which can emphasize value positioning and commute efficiency over entertainment options.
The area s median contract rent benchmarks above the national median (national percentile 69), while the rent-to-income ratio trends in a moderate band (national percentile 57). This combination supports pricing power without signaling acute affordability pressure, which can aid retention and limit turnover volatility.
Within a 3-mile radius, demographics indicate population growth over the last five years with a further increase expected. Household counts are projected to expand materially by 2028, pointing to a larger tenant base and potential support for occupancy stability. Renter-occupied share within 3 miles is roughly one-third, indicating a meaningful pool of prospective residents even as the immediate neighborhood skews more owner-occupied.
Vintage also matters: the average neighborhood construction year is 1985, and the subject s 1999 delivery positions it newer than much of the local stock. That relative youth supports competitive positioning versus older assets, though investors should still plan for ongoing modernization and system refreshes over a long hold.
WDSuite does not provide a comparable crime rank or national percentile for this neighborhood in the latest release. In the absence of a metro rank (which would otherwise be interpreted against 295 metro neighborhoods), investors typically benchmark safety using multi-year metro and national trends alongside local jurisdiction reports to understand whether conditions are improving, stable, or showing pockets of risk.
From an underwriting perspective, consider standard measures such as lighting, access controls, and resident engagement, and compare any available precinct- or town-level statistics to broader metro trends for Albany Schenectady Troy. This approach keeps analysis comparative and avoids block-level conclusions that can be unreliable.
Regional employment is supported by nearby corporate offices that broaden the commuter base and can reinforce renter demand for suburban housing, notably IBM and McKesson within driving distance.
- IBM corporate offices (12.4 miles)
- McKesson corporate offices (34.9 miles)
The 1999 vintage is newer than much of the surrounding stock (average 1985), which can reduce near-term functional obsolescence and support competitive positioning versus older assets; investors should still plan for targeted system updates and common-area refreshes over time. Neighborhood occupancy around 93.5% and median rents above the national median indicate a base of demand with moderate affordability pressure, supporting retention and underwriting discipline.
Within a 3-mile radius, recent population growth and a projected increase in households by 2028 point to renter pool expansion, while a roughly one-third renter-occupied share underscores depth for multifamily leasing. Home values sit in a mid-range context for the region, implying some competition from ownership but also steady reliance on rental options; according to CRE market data from WDSuite, these dynamics have historically supported consistent operations for well-managed suburban assets.
- Newer 1999 vintage versus local average supports competitive positioning with manageable modernization needs
- Neighborhood occupancy near the mid-90s underpins leasing stability and cash flow consistency
- 3-mile radius shows population and household growth, expanding the tenant base and supporting demand
- Rents above national median with moderate rent-to-income levels support pricing power and retention
- Risks: thinner lifestyle amenities and an owner-tilted immediate area may temper lease-up velocity; plan for system updates typical of late-1990s assets