| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 22nd | Good |
| Demographics | 29th | Poor |
| Amenities | 28th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 355 Rochester St, Salamanca, NY, 14779, US |
| Region / Metro | Salamanca |
| Year of Construction | 2008 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
355 Rochester St Salamanca NY 32-Unit Multifamily
Renter-occupied housing is a meaningful share of the surrounding neighborhood, supporting a stable tenant base even as neighborhood occupancy trends are mixed, according to WDSuite’s CRE market data. The property’s 2008 vintage gives it a relative competitive edge versus older local stock.
Located in Salamanca within the Olean, NY region, the neighborhood rates B+ and is competitive among Olean, NY neighborhoods (18 of 58). Local housing skews older overall, while this asset’s newer vintage helps it stand out to renters seeking more modern systems and finishes.
Livability is anchored by everyday conveniences: grocery and pharmacy access is reasonable for a rural location, while cafes and restaurants are present but not dense. Parks and formal childcare options are limited, which may matter for family-oriented leasing. Average school ratings trail national norms, a consideration when positioning for households prioritizing school quality.
From a rental market perspective, the neighborhood shows a sizable share of renter-occupied units, signaling depth in the tenant pool. Neighborhood occupancy is below the metro median, so lease-up and retention may require proactive management and value-driven positioning.
Demographics aggregated within a 3-mile radius indicate recent population and household growth with further modest expansion forecast, pointing to a gradually expanding renter base. Median rents in the area remain relatively low and rent-to-income levels are moderate, which can support retention while limiting near-term pricing power. Elevated ownership accessibility in the area suggests some competition with entry-level ownership, but it also reinforces the role of well-located rentals as more accessible options for cost-sensitive households.
Comparable rural neighborhoods can vary in reported safety, and available WDSuite datasets for this specific area do not provide a definitive neighborhood crime rank at this time. Investors typically benchmark public sources and municipal reports to understand trend direction and how the area compares to the broader Olean, NY region.
Built in 2008, this 32-unit asset is materially newer than much of the surrounding housing stock, offering relative competitiveness versus older rentals while still warranting customary mid-life system updates. The neighborhood supports a meaningful renter base, and demographics aggregated within a 3-mile radius show recent growth in population and households with additional modest gains projected—factors that help support occupancy stability and steady leasing. According to CRE market data from WDSuite, area rents remain comparatively low, which aids retention but may temper near-term rent growth, favoring strategies built around consistent occupancy and targeted value-add.
Compact unit layouts can appeal to cost-conscious renters, and the property’s positioning near basic amenities supports day-to-day convenience. Key underwriting considerations include softer neighborhood-level occupancy and below-average school ratings, as well as potential competition from relatively accessible ownership options.
- 2008 vintage offers relative competitive positioning versus older local stock, with manageable mid-life capital planning.
- Sizable renter concentration and modest 3-mile household growth support a durable tenant base and leasing continuity.
- Moderate rent-to-income dynamics favor retention; value-focused positioning can maintain occupancy.
- Risk: neighborhood occupancy trends are softer than the metro median, requiring active leasing and renewal management.
- Risk: below-average school ratings and accessible ownership options may narrow the target renter profile.