| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Best |
| Demographics | 48th | Fair |
| Amenities | 30th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 43 Ridge St, Glens Falls, NY, 12801, US |
| Region / Metro | Glens Falls |
| Year of Construction | 1978 |
| Units | 100 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
43 Ridge St Glens Falls Multifamily Investment
Positioned in a renter-heavy neighborhood where occupancy trends sit above the metro median, this asset offers exposure to steady tenant demand, according to WDSuite’s CRE market data. The 100-unit scale supports operating efficiency while the submarket’s dining and park access enhance leasing appeal.
Glens Falls’ inner-suburb setting mixes small-city convenience with neighborhood-scale amenities that support renter retention. Dining is a local strength, with restaurant and café density competitive among Glens Falls’ 78 neighborhoods and top quartile nationally, while nearby parks also score well. Daily-needs retail like groceries and pharmacies is less concentrated in the immediate area, so residents may rely on short drives for errands.
For multifamily investors, the local tenant base is deep: a majority of housing units are renter-occupied, indicating a larger pool of prospective residents and potential for stable lease-up. Neighborhood occupancy levels are above the metro median and in the upper half nationally, a favorable backdrop for cash flow durability across cycles.
Within a 3-mile radius, demographics show recent population and household growth, with projections pointing to further increases over the next five years. This expansion implies a larger tenant base and supports occupancy stability, especially for well-managed properties that maintain competitive finishes and services. Median rents in the area have risen over the past five years and are projected to continue growing, which can aid revenue management if balanced against affordability.
The property’s 1978 vintage is newer than much of the local housing stock, which tends to skew earlier in the century. This positioning can be competitive versus older inventory, though investors should plan for targeted modernization and systems upkeep to sustain rentability and limit downtime. Home values in the neighborhood are below many coastal markets, and combined with a moderate rent-to-income backdrop, this can support renter retention and reduce turnover risk rather than pushing households to ownership.
Safety signals are mixed but generally favorable in a national context. Neighborhood crime measures trend above national averages for safety (upper-half to top-quartile nationally), while within the Glens Falls metro’s 78 neighborhoods the area performs below the metro average, indicating relatively higher incident rates locally than in many nearby neighborhoods.
Recent trends are noteworthy: estimated violent offenses have eased year over year, while property-related incidents show a modest uptick. For investors, this suggests continued emphasis on lighting, access controls, and community standards to support retention and asset performance, calibrated to local expectations rather than national norms.
Proximity to regional employers supports workforce housing demand and commuting convenience, with healthcare distribution and paper manufacturing represented nearby. The following organizations contribute to the local employment base and leasing stability potential.
- McKesson — healthcare distribution (2.2 miles)
- International Paper Company — paper & packaging (42.0 miles)
This 100-unit, 1978-vintage property offers scale efficiencies in a renter-concentrated neighborhood where occupancy trends sit above the metro median. Dining and park access are local strengths, and 3-mile demographics point to ongoing population and household growth that can expand the renter pool and support lease stability. Based on CRE market data from WDSuite, rents have trended upward and are projected to continue rising, reinforcing revenue management opportunities if matched with prudent affordability oversight.
Relative to older neighborhood stock, the asset’s vintage can be competitive, though investors should plan for targeted modernization and systems maintenance. Ownership costs in the area are not unusually high by national standards, which can introduce some long-term competition from for-sale options; still, the current rent-to-income backdrop supports tenant retention for well-managed, well-located assets.
- Occupancy above metro median supports income stability and leasing velocity.
- Renter-heavy neighborhood provides a deeper tenant base for a 100-unit asset.
- 3-mile population and household growth indicate ongoing renter pool expansion.
- 1978 vintage offers competitive positioning versus older stock with value-add potential via targeted updates.
- Risks: lighter concentration of daily-needs retail nearby, below-metro safety positioning, and capex for modernization.