| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 20th | Best |
| Demographics | 46th | Good |
| Amenities | 36th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 152 Pine St, Wellsville, NY, 14895, US |
| Region / Metro | Wellsville |
| Year of Construction | 1993 |
| Units | 25 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
152 Pine St, Wellsville NY — 25-Unit Apartment Investment
Local renter demand is supported by a top-ranked neighborhood within Allegany County and relatively manageable rent-to-income dynamics, according to WDSuite’s CRE market data, pointing to steady leasing with an eye on pricing discipline.
The property sits in an A+ rated neighborhood that is top-ranked among 44 metro neighborhoods, indicating strong local fundamentals. Amenity access is competitive within the county (ranked 2 of 44), with restaurants and daily-needs retail represented, while national amenity density trends remain more modest. This positioning supports day-to-day livability that underpins retention for workforce-oriented assets.
Neighborhood occupancy is measured at the neighborhood level, not the property. It is above the metro median (ranked 7 of 44) but below national norms, suggesting generally stable leasing locally with less tailwind than in higher-demand national submarkets. Median contract rent in the neighborhood trends on the lower side regionally, which can aid lease retention and reduce turnover risk for value-focused product.
The neighborhood’s renter-occupied share is about one-quarter of housing units, indicating a smaller renter concentration relative to more urban locations. For investors, this points to a thinner but potentially steady tenant base, where demand is tied to local employment and services. Affordability appears favorable from an operator perspective (rent-to-income levels are comparatively moderate), which can support occupancy stability and measured rent growth.
Within a 3-mile radius, population and household indicators have shown recent growth, expanding the local renter pool and supporting multifamily demand. Median home values in the area are comparatively low versus national benchmarks, which can introduce some competition from ownership; however, more accessible pricing also supports economic stability and consistent payment capacity among renters. Overall, this rural setting offers dependable fundamentals relative to the county, even if it trails large-metro benchmarks.
Comparable crime statistics at the neighborhood level are not available in WDSuite for this location. Investors typically benchmark safety using county and regional trend indicators, local law enforcement reports, and historical leasing experience to contextualize resident perceptions and retention risk.
Built in 1993, the asset is newer than much of the surrounding housing stock, which skews early-20th century. That relative vintage can offer a competitive edge versus older neighborhood inventory, while still leaving room for targeted modernization and unit upgrades. According to CRE market data from WDSuite, neighborhood occupancy trends are stronger locally than the metro median but softer than national leaders, suggesting steady day-to-day operations with prudent rent setting.
Lower neighborhood rents and moderate rent-to-income levels support retention and minimize turnover friction, while recent 3-mile radius population and household growth points to a gradually expanding tenant base. Balanced against this, a smaller renter-occupied share and more accessible ownership costs in the area may temper pricing power, reinforcing a focus on value-oriented positioning and asset-level improvements to drive returns.
- 1993 construction offers competitive positioning versus older neighborhood stock with clear renovation upside
- Neighborhood occupancy sits above metro median, supporting steady leasing and retention
- Value-oriented rent levels and moderate rent-to-income support sustained tenant demand
- Gradual growth within a 3-mile radius expands the local renter pool over time
- Risk: smaller renter concentration and accessible ownership options could limit pricing power; focus on operational efficiency and targeted upgrades