| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 29th | Poor |
| Demographics | 58th | Fair |
| Amenities | 18th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 111 Woodland Dr, Cobleskill, NY, 12043, US |
| Region / Metro | Cobleskill |
| Year of Construction | 1991 |
| Units | 38 |
| Transaction Date | 2005-05-12 |
| Transaction Price | $1,060,000 |
| Buyer | EARLY WOODLAND VILLAGE AP ARTMENT LLC |
| Seller | ESTATE MAHAR ROBERT C |
111 Woodland Dr, Cobleskill NY — 1991 Vintage Multifamily
Positioned in a rural pocket of the Albany–Schenectady–Troy region, this 1991-built, 38-unit asset offers larger floor plans and a pragmatic value-add path supported by steady renter demand, according to WDSuite’s CRE market data.
Cobleskill’s rural setting delivers a quieter operating context with limited big-city friction but also fewer amenity drivers. Neighborhood-level occupancy is reported for the neighborhood, not this property, and sits below many metro peers, signaling room for hands-on leasing and operations to add value. Homeownership is relatively accessible locally, which can create competition for renters; however, rent-to-income metrics indicate manageable affordability pressure that can support retention and stable collections.
Amenity access is mixed. Cafe density is competitive among Albany–Schenectady–Troy neighborhoods (ranked 50 out of 295), and sits above the national median by percentile, while grocery, parks, and pharmacies are comparatively sparse. For investors, that translates to a resident base more anchored by day-to-day necessities than discretionary lifestyle, which can favor value-driven, well-managed multifamily offerings over premium amenity plays.
Housing stock skews older across the neighborhood, with the average build year in the area predating this property. The subject’s 1991 vintage is newer than the neighborhood norm, improving competitive positioning versus older inventory while still warranting prudent capital planning for modernization of building systems and finishes over a hold period.
Within a 3-mile radius, WDSuite data shows a meaningful share of renter-occupied housing units alongside an owner base, creating a workable tenant pool for workforce-oriented units. Population trends have been mixed recently, but projections indicate an increase in households and smaller average household sizes, which typically expands the renter pool and supports occupancy stability. For investors seeking grounded commercial real estate analysis, the takeaway is measured demand with emphasis on operational execution rather than outsized rent growth.
Neighborhood-level safety figures are not available in WDSuite for this location. Investors commonly benchmark property performance against Albany–Schenectady–Troy and Schoharie County trends, and prioritize standard risk controls such as lighting, access management, and resident screening to support tenant retention and operations.
Regional employment is diversified at the metro level, with commuting access to major corporate offices that can underpin renter demand for larger, competitively priced units. Nearby representation includes IBM.
- IBM — corporate offices (36.4 miles)
The investment case centers on a 1991 vintage, 38-unit asset with larger-than-typical average unit sizes, positioned against an older neighborhood housing base. Based on CRE market data from WDSuite, local rent levels relative to incomes suggest manageable affordability pressure, reinforcing lease retention when paired with disciplined operations. Neighborhood occupancy is measured for the neighborhood (not this property) and indicates room for a hands-on operator to drive stabilization and capture value through targeted renovations and leasing.
Within a 3-mile radius, projections call for household growth and smaller average household sizes, which typically broadens the renter pool and supports sustained demand for multifamily units. The rural context implies fewer amenity premiums but a resident base that prioritizes space and value — a fit for larger floor plans and thoughtful capex that elevates durability and operating efficiency.
- 1991 vintage is newer than much of the neighborhood stock, offering competitive positioning with targeted modernization
- Larger average unit sizes support renter retention and value-oriented leasing
- Rent levels relative to incomes indicate manageable affordability pressure, aiding collections and stability
- Household growth and smaller household sizes within 3 miles point to a broader renter pool over time
- Risks: owner-leaning market and limited amenities may slow lease-up and require proactive management and leasing strategy