| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Best |
| Demographics | 70th | Best |
| Amenities | 65th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3 Baybrook Dr, Queensbury, NY, 12804, US |
| Region / Metro | Queensbury |
| Year of Construction | 2000 |
| Units | 48 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3 Baybrook Dr Queensbury, NY Multifamily Investment
Neighborhood fundamentals point to steady renter demand and high occupancy at the area level, according to WDSuite’s CRE market data. The surrounding neighborhood reports strong amenity access and above-average occupancy, which supports income stability for a 48-unit asset.
The property sits in an inner-suburban pocket of Queensbury that ranks at the top of the Glens Falls metro (1 out of 78 neighborhoods, A+ rating). Neighborhood occupancy is high relative to both the metro and nation, helping support income durability for multifamily operators; note this occupancy is measured for the neighborhood, not the property.
Amenity access is a differentiator. Restaurant, cafe, and grocery density each rank among the top quartile of the 78 metro neighborhoods (with national positioning in the low-to-mid 80th percentiles), offering daily convenience that can aid leasing velocity and retention. Park access is limited (ranked 78 of 78), which may require positioning amenities on-site or emphasizing other nearby lifestyle options.
The local renter base is meaningful: roughly half of housing units are renter-occupied at the neighborhood level (ranked 3 of 78, high nationally), indicating depth for workforce and market-rate demand rather than reliance on a narrow tenant segment. Median contract rents in the neighborhood sit around the metro middle with recent multi-year growth, while rent-to-income levels remain relatively manageable, supporting lease stability.
Within a 3-mile radius, WDSuite data shows population growth over the last five years alongside a larger increase in households and a gradual reduction in average household size. This combination typically expands the renter pool and supports occupancy stability. Forward-looking estimates indicate continued gains in households through the next cycle, which can underpin steady demand for professionally managed units.
Vintage also supports competitive positioning. Built in 2000, the asset is newer than the neighborhood’s average 1970s stock, which can reduce immediate capital intensity and improve renter appeal versus older comparables; investors should still underwrite routine modernization for building systems and finishes over the hold.
Safety trends are mixed but improving. The neighborhood’s overall safety profile is above the national midpoint (around the 61st percentile nationwide), yet property crime levels sit below the metro median, indicating relatively higher incidents versus many Glens Falls peers (crime rank 8 out of 78 neighborhoods). Importantly, recent 1-year trends show sharp improvement, with both property and violent offense rates declining materially, placing the neighborhood among stronger improvers nationally.
For investors, the takeaway is to acknowledge submarket variation within the metro while noting the recent downward trajectory. Portfolio operators often address this by reinforcing on-site lighting, access control, and resident engagement, aligning with the positive trend observed in WDSuite’s data.
Proximity to healthcare distribution and manufacturing offices supports a stable workforce renter base and commute convenience for residents. Nearby employers include McKesson and International Paper Company.
- McKesson — healthcare distribution (1.2 miles)
- International Paper Company — paper & packaging (40.0 miles)
This 48-unit asset at 3 Baybrook Dr benefits from neighborhood-level occupancy strength, a sizable renter-occupied housing base, and amenity-rich surroundings that support leasing and retention. Based on commercial real estate analysis from WDSuite, the area’s performance sits at the top of the Glens Falls metro, with neighborhood occupancy above national norms and rent levels that remain manageable relative to incomes—factors that support stable collections and moderated turnover.
Constructed in 2000, the property is newer than much of the neighborhood’s 1970s-era stock, offering competitive positioning versus older comparables while still warranting targeted modernization to enhance NOI. Household growth within a 3-mile radius—and forecasts for additional household gains—indicate a growing tenant base that can sustain occupancy over a long-term hold.
- Neighborhood-level occupancy and renter depth support income stability
- Newer 2000 vintage versus local 1970s stock offers competitive edge
- Amenity concentration (food, cafes, groceries) aids leasing velocity
- 3-mile household growth expands the tenant base over time
- Risks: limited park access and property crime above metro median; underwrite security and on-site activation