| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Best |
| Demographics | 48th | Fair |
| Amenities | 30th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 93 Maple St, Glens Falls, NY, 12801, US |
| Region / Metro | Glens Falls |
| Year of Construction | 1995 |
| Units | 20 |
| Transaction Date | 2017-03-01 |
| Transaction Price | $212,000 |
| Buyer | CORR CHRISTOPHER P |
| Seller | MCCULLOUGH FT |
93 Maple St, Glens Falls Multifamily Investment Opportunity
Neighborhood occupancy sits at 93.9%, pointing to stable leasing conditions and a durable renter base, according to WDSuite’s CRE market data. Investors can underwrite steady demand driven by a high share of renter-occupied units and proximity to core amenities.
The property sits in an Inner Suburb cluster that ranks 9 out of 78 neighborhoods in the Glens Falls metro, placing it in the top quartile locally for overall neighborhood quality. Restaurant and cafe density scores competitively high (nationally strong percentiles), while parks are similarly well-represented. Daily-needs options like groceries, pharmacies, and childcare are comparatively limited within the immediate neighborhood, so residents may rely on nearby submarkets for those errands.
Multifamily fundamentals are supportive for investors. Neighborhood occupancy is 93.9% and has trended higher over the last five years, signaling resilience and lease-up stability. Renter-occupied housing accounts for 57.7% of units, indicating a deep tenant base that can support consistent demand and retention strategies. Median contract rents track below many national readings, and a rent-to-income ratio near 0.18 suggests manageable affordability pressure, which can reduce turnover risk and support collections.
Within a 3-mile radius, population and households have expanded in recent years, and WDSuite’s data show continued growth in households ahead, which points to a larger tenant base and potential renter pool expansion. Income measures in the 3-mile area have also risen, which can support rent levels over time. Median home values in the neighborhood are lower than many national markets, which can create some competition from entry-level ownership, but it also positions rentals as accessible options for residents seeking flexibility, supporting lease retention.
Vintage matters: built in 1995, the asset is newer than much of the neighborhood’s housing stock (average vintage skews earlier), offering relative competitiveness versus older properties. Investors should still evaluate systems and interiors for modernization opportunities that can enhance positioning and NOI through targeted value-add.
Safety readings are mixed when comparing local and national perspectives. Within the Glens Falls metro, the neighborhood’s crime rank is 7 out of 78 (a lower rank locally indicates more reported crime relative to peers). Nationally, however, WDSuite’s indicators place the area above average for overall safety, including stronger national percentiles for both violent and property offense categories.
Trendwise, estimated violent offense has moved lower year over year, while property offense shows a modest recent increase. Investors should account for standard security and lighting measures and monitor local policing and community initiatives, which together help support tenant retention and leasing stability over time.
Nearby employers help anchor renter demand through steady commute patterns, led by healthcare distribution and manufacturing. The list below highlights proximate corporate offices relevant to workforce housing dynamics.
- McKesson — healthcare distribution (2.2 miles)
- International Paper Company — manufacturing (41.9 miles)
This 20-unit property at 93 Maple St was constructed in 1995, offering a newer profile than much of the surrounding stock and an opportunity to compete against older assets while pursuing targeted upgrades where warranted. Neighborhood occupancy at 93.9% and a renter-occupied share near six in ten units indicate depth of demand and support for leasing stability. According to CRE market data from WDSuite, local rents and rent-to-income dynamics point to manageable affordability pressure, aiding collections and reducing turnover risk. Within a 3-mile radius, population and household growth trends suggest a larger tenant base ahead, reinforcing demand fundamentals.
Counterbalancing factors include locally weaker school ratings and limited immediate access to certain daily-needs retailers, plus a local crime rank that is higher relative to metro peers even as national comparisons look better. These considerations can be mitigated with focused operations, value-add improvements, and disciplined marketing that leans on proximity to amenities and employment nodes.
- Occupancy at 93.9% supports stable leasing and retention
- 1995 vintage competes well versus older neighborhood stock with value-add upside
- 3-mile population and household growth expand the renter pool over the medium term
- Manageable rent-to-income dynamics bolster collections and pricing flexibility
- Risks: weaker local school ratings, limited daily-needs retail nearby, and a metro crime rank that warrants routine security planning