| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Best |
| Demographics | 70th | Best |
| Amenities | 65th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 105 Needle Park Cir, Queensbury, NY, 12804, US |
| Region / Metro | Queensbury |
| Year of Construction | 1972 |
| Units | 24 |
| Transaction Date | 2001-06-01 |
| Transaction Price | $5,878,700 |
| Buyer | WHISPERING PINES ASSOC LT |
| Seller | PAULSEN & SONS INC |
105 Needle Park Cir Queensbury Multifamily Investment
Neighborhood-level occupancy is strong with steady renter demand, according to WDSuite’s CRE market data, supporting stable cash flow assumptions at the property level. Metrics cited reflect the surrounding neighborhood rather than this specific asset.
Positioned in Queensbury within the Glens Falls metro, the neighborhood scores an A+ and ranks 1 out of 78 metro neighborhoods, signaling strong fundamentals for multifamily. Amenity access is a clear advantage: cafes, restaurants, groceries, and pharmacies place the area competitive among Glens Falls neighborhoods, and in the top national percentiles for these categories. Daycare density similarly supports everyday convenience for residents.
Neighborhood occupancy is high and above many metro peers, with national performance in the top quartile, per WDSuite. Median contract rents rank near the top of the metro, indicating pricing power when product quality and management execution are in place. The neighborhood’s rent-to-income ratio points to manageable affordability pressure, which can aid retention while still allowing for measured rent growth strategies.
Within a 3-mile radius, households and families have expanded over the last five years, enlarging the local renter base. Forward-looking data show households continuing to increase even as average household size trends smaller, which typically supports demand for rental units and helps underpin occupancy stability.
The property’s 1972 vintage is slightly older than the neighborhood average (1974). For investors, that suggests typical capital planning for building systems and an opportunity for targeted value-add to keep the asset competitive against newer stock. At the neighborhood level, NOI per unit ranks at the top of the metro, and elevated home values relative to incomes reinforce ongoing reliance on multifamily housing—factors that can support leasing durability.
Compared with neighborhoods nationwide, this area sits above the national midpoint for safety, according to WDSuite. Within the Glens Falls metro, its crime rank places it closer to the higher-incident end of the spectrum, so investors should underwrite prudent security and operational practices.
Recent trends are a positive signal: both property and violent offense estimates have declined sharply year over year, with improvement metrics in the top decile nationally. Sustained monitoring is still warranted, but the directional movement supports a more constructive medium-term outlook.
Nearby corporate offices provide a diversified employment base that supports renter demand and commute convenience, led by healthcare distribution and paper and packaging operations.
- McKesson — healthcare distribution (0.45 miles)
- International Paper Company — paper and packaging (41.1 miles)
This 24-unit asset benefits from a top-ranked neighborhood in the Glens Falls metro, with strong amenity access and high neighborhood occupancy that supports stable leasing. Household growth within a 3-mile radius expands the tenant base, while elevated ownership costs in context help sustain reliance on multifamily housing. According to CRE market data from WDSuite, neighborhood-level performance indicators (occupancy, amenities, and NOI per unit) compare favorably against metro peers, providing a supportive backdrop for operations.
Built in 1972, the property may require targeted capital investment to modernize systems and interiors. That creates potential for value-add execution, especially given neighborhood rent positioning near the top of the metro. Forward-looking demographics indicate more households even as average household size declines, which typically supports leasing velocity and occupancy stability. Risks include the asset’s older vintage, limited nearby park access, and the neighborhood’s higher-incident positioning within the metro despite recent improvement trends.
- Top-ranked neighborhood in the Glens Falls metro with strong amenity access and high occupancy supporting leasing stability
- Household growth within 3 miles enlarges the tenant base and supports sustained demand
- 1972 vintage offers value-add potential through system upgrades and interior improvements
- Neighborhood rent positioning near the top of the metro can support measured pricing power with quality execution
- Considerations: older building systems, limited park access, and relatively higher-incident standing in the metro warrant prudent underwriting