| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Best |
| Demographics | 54th | Fair |
| Amenities | 26th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6 Cimino Ln, Schenectady, NY, 12306, US |
| Region / Metro | Schenectady |
| Year of Construction | 1985 |
| Units | 20 |
| Transaction Date | 2002-05-23 |
| Transaction Price | $525,000 |
| Buyer | SIX CIMINO LA LLC |
| Seller | CARPICO LORENZO J THERESA |
6 Cimino Ln Schenectady Multifamily Investment Potential
Neighborhood occupancy is high and renter demand appears durable in this part of Schenectady, according to WDSuite’s CRE market data. For investors, that signals stable tenancy dynamics to underwrite while evaluating operations and capital needs.
Sited in a suburban pocket of the Albany–Schenectady–Troy metro, the neighborhood posts an occupancy rate that ranks 51 out of 295 metro neighborhoods — top quartile nationally — indicating resilient leasing conditions relative to broader benchmarks (per WDSuite). The area also has a high share of renter-occupied housing units (54.9%; rank 31 of 295; 91st percentile nationally), suggesting a deep tenant base for multifamily.
Within a 3-mile radius, population and households have expanded in recent years, with additional household growth projected alongside smaller average household sizes. For multifamily, that pattern typically supports a larger tenant base and helps sustain occupancy stability and leasing velocity.
Rents track near the middle of national distributions (neighborhood median contract rent at the 63rd percentile) and the rent-to-income ratio trends around 0.18, implying manageable affordability pressure that can aid retention and reduce turnover risk. Median home values sit near national mid-range levels, which can introduce some competition from ownership options; however, the elevated renter concentration locally helps support demand for apartments.
Amenity access is mixed: parks and basic groceries index around or modestly above national midpoints, while cafes, pharmacies, and childcare are comparatively sparse. For investors, this points to marketing the property on value, access to core services, and commute convenience rather than lifestyle retail density. The property’s 1985 vintage is newer than the neighborhood’s older housing stock (average vintage 1961), providing relative competitiveness versus pre-1970 assets, though modernization of interiors and building systems may be an avenue for value-add positioning.
Comparable neighborhood safety metrics are not available in this dataset. Investors should review local police reports, recent trend data, and insurer guidance to contextualize risk and align security, lighting, and access-control measures with underwriting assumptions.
Regional employers provide a diversified employment base that supports renter demand through commute access, including technology and healthcare distribution offices noted below.
- IBM — technology & services offices (16.6 miles)
- McKesson — healthcare distribution offices (40.7 miles)
This 20‑unit, 1985-vintage asset benefits from a high-occupancy neighborhood and a renter-heavy housing mix that supports depth of demand. Within a 3‑mile radius, recent and projected household growth — alongside smaller household sizes — points to a larger renter pool and supports occupancy stability. Rents sit near national mid-range levels with a modest rent-to-income posture, which can aid retention and predictable cash flow, according to CRE market data from WDSuite.
Relative to older local stock, the 1985 construction can compete on functional layouts and systems, while renovations and common-area upgrades offer potential value-add upside. Amenity density is lighter in select categories, so underwriting should emphasize durable demand drivers (employment access, basic services) and calibrated expense planning.
- High neighborhood occupancy and strong renter concentration support leasing stability
- 3‑mile radius shows household growth and smaller sizes, expanding the renter pool
- 1985 vintage offers competitive positioning versus older stock with value‑add potential
- Mid-range rent levels and balanced rent-to-income dynamics can aid retention
- Risk: lighter amenity density and accessible ownership options require focused leasing and asset management