| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Best |
| Demographics | 39th | Fair |
| Amenities | 13th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 554 Martha Ave, Olean, NY, 14760, US |
| Region / Metro | Olean |
| Year of Construction | 1972 |
| Units | 55 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
554 Martha Ave Olean Multifamily Investment Opportunity
Neighborhood fundamentals indicate stable renter demand and high occupancy, according to WDSuite’s CRE market data. The area’s renter-occupied housing share and tight vacancy support steady leasing for a 1972-vintage, 55-unit asset.
The property sits in an A- rated suburban neighborhood in Olean where multifamily occupancy is strong and has trended upward in recent years. Neighborhood occupancy is above metro norms and competitive nationally, supporting expectations for stable collections and limited downtime between turns. Importantly, these occupancy indicators describe the neighborhood, not this specific property.
Renter-occupied housing accounts for a meaningful share of local units, signaling a solid tenant base for smaller-format apartments. Median asking rents in the neighborhood are modest versus many U.S. areas, which can aid leasing velocity, while the rent-to-income profile suggests some affordability pressure that owners should manage via measured rent setting and resident retention.
Amenity density is relatively light by national standards (few cafes, parks, and pharmacies), though basic services like groceries are present locally. For investors, this implies a more value-oriented, car-dependent renter profile where on-site conveniences and reliable maintenance can differentiate and support renewals.
Within a 3-mile radius, population has been roughly flat while household counts have held steady, and projections indicate growth in households alongside smaller average household sizes by the mid-term outlook. That shift typically expands the renter pool and supports occupancy stability. Median home values relative to incomes point to a higher-cost ownership path in this area, which tends to reinforce reliance on multifamily housing rather than immediate transitions to ownership.
Vintage matters: the asset’s 1972 construction is newer than much of the area’s older housing stock (average year built skews earlier), giving it a competitive edge on basic systems and layout versus pre-war comparables, though continued modernization of interiors and common areas may still be warranted for positioning.
Neighborhood-level crime statistics were not available in WDSuite for this specific area of the Olean metro, so comparative ranks and national percentiles cannot be stated. Investors should rely on customary diligence—reviewing recent city and county reports, insurer guidance, and property-level incident logs—to benchmark security posture and determine any needed measures such as lighting, access controls, or partnerships with local authorities.
This 55-unit, 1972-vintage property benefits from a tight neighborhood rental market and a durable renter base. Based on CRE market data from WDSuite, neighborhood occupancy is strong versus metro and competitive nationally, which supports consistent leasing and rent collections. The asset is newer than much of the surrounding housing stock, suggesting competitive positioning with targeted upgrades rather than full repositioning.
Within a 3-mile radius, flat recent population alongside steady—and projected to rise—household counts points to a larger tenant base over time, especially as household sizes trend smaller. While local amenity density is limited, ownership costs relative to income lean higher, which tends to sustain rental demand; conversely, rent-to-income dynamics indicate some affordability pressure, underscoring the need for prudent lease management and value-oriented operations.
- Tight neighborhood occupancy supports leasing stability and limited downtime
- 1972 construction is newer than much of the area, enabling targeted value-add
- 3-mile projections point to more households and a larger renter pool over time
- Higher ownership costs relative to income reinforce multifamily demand
- Risks: lighter amenity density and rent-to-income pressure require careful lease and expense management