| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Best |
| Demographics | 58th | Good |
| Amenities | 20th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 34 Willowbrook Rd, Queensbury, NY, 12804, US |
| Region / Metro | Queensbury |
| Year of Construction | 2013 |
| Units | 42 |
| Transaction Date | 2007-07-11 |
| Transaction Price | $350,000 |
| Buyer | SCHERMERHORN COMMERCIAL HOLDINGS LP |
| Seller | PASSARELLI GUIDO |
34 Willowbrook Rd Queensbury 42-Unit Multifamily
Neighborhood occupancy is strong and renter demand is durable in this suburban pocket of Queensbury, according to WDSuite’s CRE market data. The area’s fundamentals point to relatively stable leasing conditions for well-maintained, modern assets.
The property sits in an A-rated, suburban neighborhood within the Glens Falls metro, ranked 8 out of 78 neighborhoods — competitive at the metro level. According to WDSuite’s CRE market data, neighborhood occupancy is in the top quartile among 78 metro neighborhoods and performs in the top quartile nationally, which supports steady tenancy for quality multifamily.
Vintage matters here: built in 2013 versus a neighborhood average construction year of 1975, the asset is materially newer than surrounding stock. Newer product typically competes well against older buildings while reducing near-term capital expenditure risk; investors can still evaluate selective modernization to enhance positioning.
Renter concentration in the neighborhood is 44.7% of housing units being renter-occupied, indicating a meaningful tenant base for multifamily operators and supporting leasing depth. Within a 3-mile radius, population has expanded recently and is projected to grow further with a larger household count and slightly smaller average household size, pointing to a gradual renter pool expansion that can support occupancy stability.
Livability signals are mixed. Dining density scores competitively among 78 metro neighborhoods (restaurants and cafes rank in the top quartile locally and sit near the middle nationally), while grocery and park access rank lower within the metro. For investors, this suggests appealing everyday conveniences nearby but potential reliance on short drives for certain errands — factors to weigh when shaping resident experience and marketing.
Home values in the neighborhood trend elevated relative to incomes (value-to-income ratio ranks in the top cohort locally and in a high national percentile), which generally reinforces reliance on rental housing. Median contract rents sit near national mid-range levels, implying manageable affordability pressure and potential for consistent lease retention with prudent rent management.
Safety indicators are mixed and should be contextualized at the neighborhood level rather than the property. Overall crime ranks 14 out of 78 metro neighborhoods — indicating higher crime relative to many local peers — and aligns near the national middle based on percentile readings. Violent offense metrics trend somewhat better than national averages and improved year over year, while property offense levels benchmark weaker nationally with a recent uptick. Investors may wish to incorporate standard security protocols and resident communication into operations and underwriting.
Nearby employers provide a diversified workforce draw that can support multifamily demand through commute convenience, including healthcare distribution and paper/packaging operations listed below.
- McKesson — healthcare distribution (1.4 miles)
- International Paper Company — paper & packaging (39.9 miles)
This 42-unit, 2013-vintage asset offers exposure to a suburban Queensbury submarket where neighborhood occupancy benchmarks in the top quartile locally and performs strongly versus national peers. The property’s newer construction should position it competitively against predominantly older housing stock, with selective upgrades offering potential value-add without immediate heavy capital needs. According to CRE market data from WDSuite, elevated ownership costs relative to incomes in the neighborhood tend to sustain renter demand, while a 3-mile radius shows ongoing population growth, more households, and slightly smaller household sizes — dynamics that support a larger tenant base and leasing stability.
Operationally, dining access is competitive locally, though grocery and park access rank lower, and neighborhood safety signals are mixed with stronger violent-offense trends but softer property-offense readings. These are manageable with standard security measures and resident experience planning, and they should be reflected in underwriting and amenity strategy.
- 2013 vintage competing well against older neighborhood stock, reducing near-term capex risk
- Top-quartile neighborhood occupancy supports lease-up and retention potential
- 3-mile radius shows population and household growth, expanding the renter base
- Elevated ownership costs versus incomes reinforce multifamily demand and pricing power
- Risks: lower grocery/park access and weaker property-crime benchmarks warrant operational focus