| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 21st | Best |
| Demographics | 46th | Good |
| Amenities | 16th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 351 Main St, Bolivar, NY, 14715, US |
| Region / Metro | Bolivar |
| Year of Construction | 1988 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
351 Main St Bolivar 24-Unit Multifamily Opportunity
Neighborhood occupancy ranks in the top quartile among 44 Allegany County neighborhoods and trends near the national middle, supporting steady leasing in a rural setting, according to WDSuite’s CRE market data.
Bolivar is a rural neighborhood with an A rating and a local rank of 6 out of 44, placing it in the top quartile among Allegany County neighborhoods. For investors, that positioning suggests comparatively resilient local fundamentals within the county even if performance is closer to the middle of the pack nationally.
Occupancy for the neighborhood is strong locally (ranked 1 of 44), indicating above-median stability within the county while aligning roughly with national midrange levels. The share of renter-occupied housing units is 29.7% (ranked 2 of 44), signaling a smaller but identifiable renter base; this typically supports steady leasing, though marketing may need to cast a wider net than in more renter-heavy submarkets.
The property’s 1988 vintage is newer than the neighborhood’s older housing stock (average year 1915). That positioning can enhance competitiveness against legacy assets, though investors should still underwrite capital plans for systems modernization and targeted unit updates as needed.
Local amenities are limited by national standards (amenities score in lower national percentiles), but certain essentials are comparatively accessible within the county. Grocery and restaurant density ranks near the top of the 44-neighborhood metro set, which can aid daily convenience and resident retention. Median home values are low for owners in this area, which can introduce competition with ownership; however, a low rent-to-income ratio (0.11) points to modest affordability pressure for renters and can support lease retention and pricing discipline. Insights reflect neighborhood-level conditions and, where demographics are referenced, statistics are aggregated within a 3-mile radius and interpreted through WDSuite’s multifamily property research.
Comparable crime data for this neighborhood are not available in WDSuite at the rank or percentile level, so investors should benchmark conditions against Allegany County and similar rural markets and corroborate with local public records and property management observations. Use trend comparisons rather than block-level assumptions to gauge risk and to inform insurance and security planning.
351 Main St offers 24 units averaging 960 sq. ft., with neighborhood fundamentals that point to steady occupancy and a workable renter base in a rural setting. Based on CRE market data from WDSuite, local occupancy ranks at the top of the 44-neighborhood county set while national positioning is closer to the middle, suggesting stable demand without overheating. The 1988 construction is newer than much of the surrounding stock, giving a competitive edge versus older properties while still warranting prudent capital planning for modernization.
Low ownership costs in the area can present competition for renters considering buying, but a low rent-to-income ratio indicates manageable affordability pressure that can support retention and disciplined rent strategies. This commercial real estate analysis points to a defensible workforce-oriented thesis with emphasis on operational execution and targeted upgrades.
- Neighborhood occupancy ranks top-tier locally (1 of 44), supporting leasing stability relative to the county.
- 1988 vintage is newer than area averages, offering competitive positioning versus older stock with value-add potential via modernization.
- Low rent-to-income ratio suggests limited affordability pressure, aiding retention and disciplined pricing.
- Risk: smaller renter-occupied share and accessible ownership options may constrain the demand pool, requiring focused leasing and amenity strategy.
- Risk: rural amenity depth is limited nationally; investors should underwrite for resident convenience features to bolster retention.