| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 14th | Poor |
| Demographics | 41st | Good |
| Amenities | 7th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 140 Jamestown St, Randolph, NY, 14772, US |
| Region / Metro | Randolph |
| Year of Construction | 1988 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
140 Jamestown St, Randolph NY Multifamily Investment
Occupancy in the surrounding neighborhood has held relatively steady, and low rent-to-income levels suggest room for retention-focused operations, according to CRE market data from WDSuite.
This rural C+ rated neighborhood within the Olean, NY metro skews owner-heavy and quiet, with limited retail and daily-needs amenities nearby. Neighborhood occupancy is reported at 86.7% with little five-year movement, pointing to stable-but-selective demand rather than rapid lease-up dynamics, based on WDSuite s CRE market data for the area.
The asset s 1988 vintage is notably newer than the neighborhood s older housing stock (average construction year 1938). That relative vintage can help the property compete for renters versus legacy product, though investors should still plan for system updates and targeted renovations typical for late-1980s construction.
Renter concentration is low at the neighborhood level (renter-occupied share is limited), which means the tenant pool is thinner than urban submarkets. Within a 3-mile radius, demographics indicate a small population base today with recent declines, but projections point to population and household growth over the next five years. For multifamily investors, that implies a gradually expanding tenant base that could support occupancy stability, albeit from a modest starting point.
Home values in the area are lower than national norms, and rents benchmark below national medians. In practice, the high-cost ownership dynamic seen in gateway markets is not present here, so rental demand competes more directly with ownership options. Operators should emphasize value, convenience, and quality to sustain leasing and manage renewal pricing carefully.
Amenities are sparse locally (few cafes, grocers, parks, or pharmacies per square mile), and average school ratings trend below national medians. For investors, that means marketing should lean into property-level features and access to regional corridors rather than neighborhood walkability.
Comparable crime data for this neighborhood are not available in the current WDSuite release. Without verified figures or a metro rank among the 58 Olean-area neighborhoods, investors should rely on standard due diligence, focusing on property-level security measures, lighting, and management practices, and cross-checking municipal and state sources for trend context.
The local renter base is primarily supported by a mix of small businesses, public services, and regional employers accessible by drive. WDSuite does not surface qualifying nearby corporate offices with verified distances for this address, so employer proximity is not highlighted here.
This 24-unit property, built in 1988, offers relative competitiveness versus older neighborhood stock while benefiting from low rent-to-income levels that can support retention and steady collections. Based on CRE market data from WDSuite, neighborhood occupancy has been stable, and forecasts within a 3-mile radius point to population and household growth that could gradually expand the renter pool.
Counterbalancing strengths, the submarket is amenity-light, school ratings trail national medians, and the area s owner orientation means a thinner renter base and measured rent growth expectations. These dynamics favor an operations-first strategy: focus on curb appeal, unit refreshes typical for late-1980s assets, and disciplined renewal management over aggressive lease trades.
- 1988 vintage offers value-add potential versus older local stock
- Low rent-to-income levels support tenant retention and collections
- Forecast population and household growth (3-mile radius) suggests a gradually expanding renter base
- Operational focus: light renovations, curb appeal, and renewal strategy over aggressive rent pushes
- Risks: amenity-light area, below-median school ratings, and owner-heavy market may temper rent growth