| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 16th | Good |
| Demographics | 36th | Fair |
| Amenities | 7th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11 Pennsylvania Ave, Friendship, NY, 14739, US |
| Region / Metro | Friendship |
| Year of Construction | 1996 |
| Units | 25 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
11 Pennsylvania Ave, Friendship NY Multifamily Investment
Neighborhood occupancy has trended upward in recent years and rents remain comparatively accessible, according to WDSuite’s CRE market data, supporting a measured income thesis in a rural setting.
This rural Friendship location offers a quieter setting with limited retail and service density nearby, which can appeal to residents prioritizing space and value over amenity-rich corridors. Restaurant availability is modest while daily conveniences like cafés, parks, groceries, and pharmacies are sparse compared with denser metro areas.
For investors, the local rent environment skews lower than many urban submarkets, and the neighborhood’s occupied share has improved over the past five years, based on CRE market data from WDSuite. That backdrop can aid lease stability, though pricing power may be more constrained than in high-demand, high-cost metros.
The property’s 1996 vintage is newer than much of the area’s older housing stock, offering relative competitiveness versus nearby units that skew early 20th century. Investors should still plan for system updates as the asset approaches three decades in service, with targeted renovations as a potential value-add lever.
Demographic statistics aggregated within a 3-mile radius indicate a small population base and slightly smaller household sizes over time, which can temper near-term absorption but also point to steady demand for practical, right-sized apartments. Lower rent-to-income ratios support retention and reduce affordability pressure for existing residents, while elevated homeownership accessibility in the area can create competition that encourages disciplined rent-setting and asset management.
Schools in the area trend around the national middle to slightly above, which can help with family-oriented renter retention relative to similarly rural locations. Overall, this submarket’s livability profile suits workforce renters seeking value, with investor upside tied to durable occupancy management and selective unit enhancements rather than outsized rent growth.
Neighborhood-level crime metrics are not available for this area in WDSuite’s dataset. Investors should compare recent trends to Allegany County and New York State benchmarks and review multi-year patterns rather than single-year snapshots. As with any rural submarket, on-the-ground diligence—property lighting, access control, and local law enforcement engagement—can materially influence resident experience and retention.
Built in 1996 with 25 units averaging roughly 861 square feet, this asset stands newer than much of the surrounding housing stock, offering a relative quality edge in a rural neighborhood. According to CRE market data from WDSuite, the area’s occupied share has improved over the last five years while rent levels remain manageable for local incomes—conditions that can support steady leasing and retention. Given the market’s lower ownership costs, the strategy leans on operational discipline and targeted upgrades rather than aggressive rent lifts.
The long-term thesis centers on a stable, value-oriented renter base, modest but resilient demand, and value-add potential through modernization of interiors and building systems as the property approaches 30 years of age. Population is limited within a 3-mile radius, so expectations for rapid absorption should be tempered; however, lower affordability pressure can help sustain occupancy and cash flow consistency when paired with effective management.
- Newer-than-area housing stock (1996) supports competitive positioning versus older nearby rentals
- Occupancy trends improving per WDSuite, aiding leasing stability in a value-driven renter pool
- Lower rent burden relative to incomes supports retention and predictable cash flow
- Targeted renovations and systems updates present value-add pathways
- Risks: rural location, smaller renter base, and competition from accessible homeownership options