| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 22nd | Good |
| Demographics | 29th | Poor |
| Amenities | 28th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 53 Eagle St, Salamanca, NY, 14779, US |
| Region / Metro | Salamanca |
| Year of Construction | 1979 |
| Units | 93 |
| Transaction Date | 2022-09-21 |
| Transaction Price | $85,000 |
| Buyer | TAYLOR KAYLA E |
| Seller | RZEPA-MONTEMAGE MICHAELE |
53 Eagle St Salamanca — 93-Unit Multifamily Investment
With a sizable renter-occupied share and rising households within 3 miles, demand for workforce rentals should remain durable, according to WDSuite’s CRE market data.
Situated in Salamanca within the Olean, NY metro, the neighborhood rates as competitive among Olean neighborhoods, supported by everyday services and small-town dynamics that appeal to workforce renters. Grocery and pharmacy access trends above national averages for similar rural areas, while cafes and restaurants are present but limited.
Neighborhood occupancy is measured at the neighborhood level (not this property) and sits below typical metro levels, pointing to the importance of disciplined leasing and renewals. At the same time, the share of renter-occupied housing units is elevated locally, indicating a deeper tenant base for multifamily operators and supporting day-to-day leasing velocity.
Demographic statistics aggregated within a 3-mile radius indicate population and household growth over the last five years, with forecasts calling for additional household expansion and slightly smaller average household sizes. For investors, this suggests gradual renter pool expansion and support for occupancy stability as more households seek attainable rental options.
Median home values in the neighborhood are low relative to national norms. In practice, a more accessible ownership market can compete with rentals, but it can also encourage renters to remain in professionally managed communities that offer convenience and predictable housing costs. Rent-to-income ratios in the area are moderate, which supports retention but may temper near-term pricing power. Local school ratings trend below national averages, which is not uncommon in rural settings and should be considered when positioning the asset to target segments less sensitive to school quality.
The property’s 1979 vintage is newer than much of the surrounding housing stock. That can enhance competitive positioning versus older buildings, while still warranting targeted capital plans for aging systems and select unit/interior upgrades to meet renter expectations.
Current metro-comparable crime metrics are not available in this dataset for this neighborhood. Investors should review city and county sources for recent trends and evaluate property-level measures (lighting, access control, and onsite management) as part of standard diligence. In rural environments, safety conditions can vary by block and operator practices; compare against nearby Olean-area submarkets to contextualize performance.
This 93-unit asset offers exposure to a renter-oriented pocket of Salamanca where household counts are rising within a 3-mile radius and rents remain comparatively manageable for local incomes. Based on commercial real estate analysis from WDSuite, neighborhood occupancy trails stronger metro pockets, underscoring the value of active leasing and retention programs, while a higher renter-occupied share supports day-to-day demand.
The 1979 vintage is relatively newer than much of the area’s housing stock, providing a competitive edge over older properties and a platform for selective renovations. Low ownership costs in the area can create competition with for-sale options, but they also support lease retention among residents who prioritize convenience and predictability over home maintenance and financing complexity.
- Renter-occupied share is elevated locally, indicating depth in the tenant base
- 3-mile population and household growth point to gradual renter pool expansion
- 1979 vintage offers relative competitiveness versus older neighborhood stock with targeted upgrade potential
- Moderate rent-to-income dynamics support retention but may limit near-term pricing power
- Risk: Neighborhood-level occupancy is softer than stronger Olean pockets, requiring proactive leasing and renewals