| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Good |
| Demographics | 71st | Good |
| Amenities | 47th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1700 Western Ave, Albany, NY, 12203, US |
| Region / Metro | Albany |
| Year of Construction | 1988 |
| Units | 74 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1700 Western Ave Albany Multifamily Investment Opportunity
Neighborhood-level renter demand looks durable, with a sizable renter-occupied base and near-term household growth within 3 miles, according to WDSuite s CRE market data. This positioning supports steady leasing and practical asset management rather than outsized volatility based on a single cycle.
The property sits in an Inner Suburb location of Albany that rates competitively for investors. The neighborhood ranks 19 out of 295 metro neighborhoods (top quartile) with an overall A rating, according to WDSuite s CRE market data. Amenity access is solid for daily needs (amenity rank 23 of 295, top quartile), with neighborhood-level cafes and restaurants density tracking above the metro median and around the upper half nationally. Average school ratings are also strong (rank 8 of 295, top quartile), which can aid long-term residency and retention across family households.
Vintage is newer than the neighborhood average: the asset was built in 1988, while the area s typical construction year skews older. That positioning can be competitively favorable versus 1960s-era stock, while investors should still plan for targeted modernization and systems upkeep given the asset s age.
Tenure data at the neighborhood level indicates a substantial renter-occupied share (48.9%), ranking 48 of 295 in the metro and in the upper percentiles nationally. For multifamily, this points to a deep tenant base and broad leasing funnel rather than dependence on a narrow renter cohort. By contrast, the neighborhood s occupancy metric is below metro norms (rank 228 of 295, lower national percentile), suggesting investors should emphasize leasing execution and product differentiation to maintain stability. These are neighborhood-level indicators, not property performance.
Within a 3-mile radius, demographics show population growth and an increase in households, expanding the renter pool over the near term. Forecasts call for additional household gains and a smaller average household size by 2028, which typically supports demand for professionally managed apartments and helps underpin occupancy. Neighborhood-level incomes are competitive among metro peers (median household income rank 114 of 295), while rent levels sit in the mid-$1,300s at the neighborhood level, aligning with a rent-to-income ratio near the mid-teens a setup that can support lease retention and measured pricing power.
Ownership costs in the neighborhood reflect a mid-range home value environment, which can create some competition with entry-level ownership options. Even so, elevated household incomes and continued household growth within 3 miles tend to reinforce renter reliance on well-located multifamily, aiding tenant retention. Park access is limited within the immediate neighborhood, so on-site amenities and proximity to private recreation may be more important for resident satisfaction.
Neighborhood-level crime benchmarking for this specific area is not available in the current WDSuite dataset. Investors typically compare conditions to broader Albany Schenectady Troy metro trends and to peer Inner Suburb neighborhoods to understand relative safety and trajectory over time.
As with any acquisition, consider third-party due diligence and time-of-day site visits to validate on-the-ground conditions and align security measures with resident expectations.
Nearby corporate presence provides a stable employment base that supports renter demand and commute convenience. The employers listed below reflect proximate office employment that can contribute to leasing depth.
- IBM corporate offices (5.9 miles)
1700 Western Ave combines a newer-than-area vintage (1988) with a neighborhood that ranks in the top quartile among 295 metro neighborhoods, pointing to durable fundamentals. A sizable renter-occupied base at the neighborhood level and forecast household growth within 3 miles indicate a broad tenant pool to support leasing. At the same time, neighborhood occupancy trends run below the metro median, so returns will hinge on execution: refreshed finishes, targeted amenity upgrades, and disciplined leasing should help the asset compete against older stock.
Neighborhood rent levels are in the mid-$1,300s with a rent-to-income profile that supports retention, while ownership costs sit in a mid-range band a setup that can sustain rental demand but may introduce some competition with entry-level ownership. According to CRE market data from WDSuite, the submarket s amenity access and school quality rank favorably, which can bolster tenant retention and reduce turnover risk relative to older, lower-amenity corridors.
- Newer-than-neighborhood vintage (1988) provides competitive position versus older area stock, with scope for targeted modernization.
- Strong neighborhood standing (top quartile among 295) plus solid amenity and school rankings support leasing and retention.
- Broad renter-occupied base and projected 3-mile household growth expand the tenant funnel and support occupancy stability.
- Mid-range ownership costs and rent-to-income dynamics suggest manageable affordability pressure for renters.
- Risk: Neighborhood occupancy trails metro norms; performance depends on leasing execution, product differentiation, and asset upkeep.