| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 19th | Best |
| Demographics | 41st | Good |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 689 Trapping Brook Rd, Wellsville, NY, 14895, US |
| Region / Metro | Wellsville |
| Year of Construction | 1985 |
| Units | 45 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
689 Trapping Brook Rd Wellsville NY Multifamily Investment
Rural location with stable renter affordability supports measured rent growth and income durability, according to WDSuite’s CRE market data. One key consideration is demand depth, with leasing strategy tailored to a modest renter base.
The property sits in a B- rated, rural neighborhood of Wellsville in Allegany County, where residents rely on wider regional nodes for daily needs. Local retail, grocery, and dining options are limited, which is typical for rural locations and should be reflected in leasing and renewal strategies that emphasize convenience and value.
Neighborhood occupancy is about 87%, a level that suggests generally steady operations but warrants attention to marketing and retention, based on CRE market data from WDSuite. Renter-occupied housing accounts for roughly a quarter of units (about 24%), indicating a thinner renter concentration; operators may benefit from targeted outreach to maintain leasing velocity.
Within a 3-mile radius, the population base is small and has contracted in recent years, which can temper absorption for larger lease-ups. Average household size near 2.2 has increased, pointing to shifts in living arrangements that may favor practical, budget-conscious unit types. Median household incomes sit in a lower national percentile, reinforcing the importance of compelling total housing cost.
Ownership costs are relatively accessible in this area, and rent-to-income is in the top quartile nationally for renter affordability, implying limited affordability pressure and some headroom for careful pricing. That said, more attainable ownership options can create competition with rentals, so positioning around value and maintenance responsiveness can support retention. Average school ratings in the area trend below national medians, which is relevant for family-oriented renter segments.
The neighborhood’s housing stock skews older (average vintage around 1909), while this asset’s 1985 construction is newer than much of the surrounding inventory—providing a relative competitive edge versus prewar stock. Given its mid-1980s vintage, investors should still plan for ongoing system updates and targeted renovations to maintain competitiveness and NOI.
Neighborhood-level crime metrics are not available for this location in WDSuite’s dataset. Investors typically benchmark property performance against county and state trends and incorporate on-site measures (lighting, access control, and tenant screening) when underwriting. A review of recent, verified public safety reports and property history is prudent for final diligence.
Regional employment is anchored by manufacturing and advanced materials within commuting range, which can support steady renter demand and lease retention for workforce housing. Notably, the following employer is within driving distance:
- Corning — materials and specialty glass (44.3 miles) — HQ
This 1985-vintage asset is newer than much of the surrounding housing stock, offering relative competitiveness versus older inventory while still benefiting from value-add potential through modernization of common areas and building systems. The neighborhood maintains around 87% occupancy, and renter affordability is strong (low rent-to-income), which can support income durability even as operators manage to a modest renter base and limited nearby amenities.
According to CRE market data from WDSuite, the area’s ownership costs are comparatively accessible, suggesting thoughtful pricing and resident experience will be key to retention. Demographic trends within a 3-mile radius point to a smaller, shifting population; underwriting should prioritize conservative absorption assumptions, targeted demand capture, and disciplined capital planning.
- Mid-1980s construction is competitive versus much older local stock, with clear modernization upside
- Strong renter affordability supports pricing flexibility and occupancy stability
- Rural setting with limited amenities favors value-focused leasing and resident retention strategies
- Risk: modest renter concentration and small local population call for conservative absorption and marketing focus