| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 22nd | Best |
| Demographics | 26th | Poor |
| Amenities | 5th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 34 Glen St, Alfred, NY, 14802, US |
| Region / Metro | Alfred |
| Year of Construction | 1987 |
| Units | 31 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
34 Glen St, Alfred NY — 31-Unit Multifamily Investment
Rural neighborhood fundamentals point to steady, needs-based renter demand with improving neighborhood occupancy, according to WDSuite’s CRE market data. This commercial real estate analysis suggests a pragmatic hold with attention to tenant retention and value-add planning.
Alfred’s rural setting offers quiet living and limited immediate retail, grocery, and childcare options, which typically positions properties like 34 Glen St as convenience-driven housing for local employees and long-term residents. Neighborhood occupancy has trended upward over the past five years, per WDSuite, supporting a case for stable leasing in a smaller submarket environment.
The property’s 1987 construction is newer than much of the neighborhood’s housing stock, which skews older. For investors, that suggests relative competitiveness versus older comparables while still planning for modernization of interiors and aging building systems as part of a capex roadmap.
Renter-occupied housing represents a relatively small share of neighborhood units, indicating a thinner renter base and a leasing strategy centered on retention and reputation rather than rapid turnover. Median contract rents in the area are modest and rent-to-income is manageable, which can support renewals and limit turnover, though it may also cap near-term pricing power.
Home values are comparatively accessible in this part of Allegany County. For multifamily owners, that ownership landscape can introduce competition for some households but also supports lease stability among residents who prefer the convenience and flexibility of renting. Taken together, these dynamics point to steady, serviceable demand with measured upside through targeted property improvements, based on CRE market data from WDSuite.
Comparable safety metrics for this neighborhood are not available in WDSuite’s dataset. Investors commonly benchmark property-level experience against broader county trends and municipal reports, and may supplement with insurance quotes and lender due-diligence findings to contextualize risk. As always, evaluate multi-year patterns rather than single-period snapshots.
Regional employment centers underpin renter demand with commuter access to nearby corporate nodes, with a notable concentration in advanced materials. The following nearby employer is relevant to leasing stability at workforce-oriented properties.
- Corning — advanced materials & glass (38.4 miles) — HQ
This 31-unit asset built in 1987 offers relative positioning advantages versus older neighborhood stock, with potential to unlock value through selective renovations and systems updates. Neighborhood occupancy has moved higher in recent years, and rent-to-income levels suggest room to support renewals and reduce frictional vacancy, according to CRE market data from WDSuite.
The submarket’s smaller renter pool and accessible ownership costs call for disciplined leasing, resident retention, and targeted capex to differentiate. Execution should emphasize durable operations over aggressive rent lifts, with upside tied to modernization and operational efficiency rather than rapid market growth.
- 1987 vintage offers competitive edge versus older neighborhood stock; plan for modernization to capture value-add upside
- Upward trend in neighborhood occupancy supports leasing stability and retention focus
- Manageable rent-to-income levels favor renewals and reduce turnover risk
- Risk: smaller renter base and accessible ownership options may temper pricing power; emphasize resident experience and operations