| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Fair |
| Demographics | 84th | Best |
| Amenities | 24th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 428 Whitehall Rd, Albany, NY, 12208, US |
| Region / Metro | Albany |
| Year of Construction | 1991 |
| Units | 51 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
428 Whitehall Rd Albany Multifamily Investment
Positioned for stable renter demand in a suburban Albany pocket with educated households, according to WDSuite’s CRE market data. Balanced affordability supports retention while the location draws from a broad 3-mile renter base.
This suburban Albany neighborhood is competitive among Albany-Schenectady-Troy neighborhoods (ranked 88 of 295) and benefits from parks access that is top quartile nationally, supporting resident livability. Restaurant density trends above the national median, while everyday retail like groceries and pharmacies is comparatively sparse nearby, which investors should consider for marketing and tenant convenience.
Household incomes in the immediate neighborhood test above national medians, and rent-to-income metrics indicate comparatively manageable rents, which can support lease stability. Median home values sit near national norms; in practice, this suggests ownership is not prohibitively expensive, so multifamily operators should expect some competition from entry-level ownership and emphasize convenience, amenities, and service to sustain pricing power.
Within a 3-mile radius, WDSuite data shows modest population growth and a larger household base over the past five years, with forecasts indicating continued expansion through 2028. A roughly even split of renter- and owner-occupied housing within this radius points to a deep tenant pool that supports leasing velocity and backfills, reinforcing occupancy during typical turnover cycles. Based on CRE market data from WDSuite, neighborhood occupancy trends trail the metro median, so active management and targeted renewal strategies can be important to maintain performance.
The average neighborhood building vintage skews older than mid-century, while this asset’s 1991 construction is newer than typical nearby stock—an advantage for competitive positioning. Investors should still plan for modernization of select systems and finishes to capture value-add upside and align with today’s renter expectations.
Comparable neighborhood-level safety benchmarks are not available in the current WDSuite dataset for this area. Investors typically triangulate conditions using city and county sources, recent trend reports, and on-the-ground observations to understand block-by-block variability common in older suburban corridors.
Given the suburban context and park access, resident appeal can be supported by public-space activation and routine property-level measures. As with any acquisition, incorporate local due diligence to confirm trends relative to the broader Albany-Schenectady-Troy metro.
Nearby private-sector employment provides a steady commuter base that can support leasing and retention. The area draws from technology services within a short drive.
- IBM — technology services (3.1 miles)
Built in 1991 with 51 units, the property offers a relatively newer vintage versus much of the surrounding housing stock, creating a competitive edge with potential for targeted renovations. Within a 3-mile radius, population and household counts have been expanding and are expected to continue growing, translating into a larger tenant base and support for occupancy stability. According to CRE market data from WDSuite, neighborhood occupancy trends run below the metro median, so disciplined leasing and renewals will matter, but income strength and manageable rent-to-income levels underpin demand.
Home values near national norms suggest some competition from ownership; operators can differentiate through convenience, service quality, and refreshed units. Limited nearby daily-retail amenities mean residents may drive for errands, which places value on parking and on-site comforts. Proximity to regional employers adds depth to the renter pool and supports retention.
- 1991 vintage vs. older local stock supports competitive positioning and targeted value-add
- Expanding 3-mile population and household base increases tenant demand and backfill potential
- Income strength and manageable rent-to-income ratios support pricing and renewals
- Access to nearby technology employment (e.g., IBM) adds depth to the renter pool
- Risks: neighborhood occupancy below metro median and limited nearby daily retail require active management