| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 22nd | Good |
| Demographics | 29th | Poor |
| Amenities | 28th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 44 Seneca St, Salamanca, NY, 14779, US |
| Region / Metro | Salamanca |
| Year of Construction | 1981 |
| Units | 52 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
44 Seneca St Salamanca Multifamily Investment Opportunity
Renter concentration in the neighborhood supports a stable tenant base even as local occupancy trends are softer than national norms, according to WDSuite s CRE market data. Positioned in a rural micromarket, the asset s scale offers operating efficiencies for investors focused on steady cash flow management.
Located in Salamanca within the Olean, NY metro, the neighborhood is rated B+ and skews Rural, which typically points to quieter streets and a modest amenity set. Caf e9 and grocery access track near national mid-range levels, while park access is limited, per CRE market data from WDSuite. For investors, this suggests day-to-day convenience with fewer lifestyle draws, emphasizing value and utility over premium lifestyle positioning.
Neighborhood occupancy is reported at 81.5% (neighborhood metric, not the property), which is below national norms. However, the share of housing units that are renter-occupied is relatively high for the area (80th percentile nationally), indicating a meaningful renter pool and potential depth of demand for multifamily units.
School quality in the neighborhood trends below national averages (26th percentile), which can shape family-oriented demand profiles and leasing seasonality. Median home values sit well below national levels, creating a more accessible ownership market; for multifamily owners, that can translate into competition from entry-level ownership but also reinforce the role of rentals for households prioritizing flexibility.
Within a 3-mile radius, population and household counts have increased over the last five years, and projections call for continued growth over the next five. This points to a gradually expanding tenant base, supporting leasing velocity and occupancy stability over a medium-term hold, particularly for functional unit layouts and professionally managed operations.
The neighborhood s average construction vintage skews older (1930s), while this property was built in 1981. That relative youth versus local stock can be a competitive advantage on systems and layout, while still leaving room for targeted modernization to lift rents and retention.
Comparable safety data at the neighborhood level is limited in the current release. Investors should benchmark recent trend lines against the broader Olean, NY metro and validate with local law enforcement reports and insurer guidance. When evaluating risk, prioritize property-level security measures and management practices, and compare them to peer assets rather than relying on block-level assumptions.
Built in 1981 with 52 units averaging roughly 913 square feet, the asset is newer than much of the surrounding housing stock, providing a practical edge in functionality while leaving room for value-add upgrades to interior finishes and common areas. Based on CRE market data from WDSuite, neighborhood occupancy runs softer, but a high share of renter-occupied housing suggests depth in the tenant pool. Low area home values can introduce competition from ownership, yet steady population and household growth within 3 miles indicate a slowly expanding renter base to support leasing.
For a hold focused on consistent operations, the investment case centers on disciplined leasing, light-to-moderate renovations, and measured rent positioning aligned with local affordability. Strategic capital planning for an early-1980s vintage roofing, mechanicals, and energy efficiency can improve durability and retention without overshooting neighborhood price sensitivity.
- Newer-than-neighborhood vintage (1981) offers functional layouts with targeted upgrade potential
- Renter-occupied share is high locally, supporting tenant base depth and leasing stability
- Gradual growth in population and households within 3 miles supports occupancy over time
- Operational upside via professional management and modest renovations to align with local affordability
- Risk: Softer neighborhood occupancy and accessible ownership options may pressure pricing power