| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 38th | Best |
| Demographics | 47th | Good |
| Amenities | 30th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 450 Temple St, Fredonia, NY, 14063, US |
| Region / Metro | Fredonia |
| Year of Construction | 2003 |
| Units | 37 |
| Transaction Date | 2022-01-11 |
| Transaction Price | $84,800 |
| Buyer | CHOP YVETTE T |
| Seller | VANDETTE BARBARA K |
450 Temple St, Fredonia NY — 2003 Vintage 37-Unit Multifamily
Neighborhood occupancy is holding near the low-90s, supporting steady tenancy according to WDSuite’s CRE market data. The property’s early-2000s construction provides a competitive edge versus older local stock while keeping capital planning straightforward.
Located in a suburban pocket of the Jamestown–Dunkirk–Fredonia metro, the neighborhood carries an A- rating and ranks 12 out of 64 metro neighborhoods, signaling broadly sound fundamentals for a small-market location. Neighborhood occupancy is above the metro median (ranked 20 of 64), which helps underpin leasing stability for multifamily assets.
Amenity access is mixed. Grocery and parks density are competitive among Jamestown–Dunkirk–Fredonia neighborhoods (grocery rank 13 of 64; parks rank 13 of 64 and roughly the 69th percentile nationally), while restaurants are similarly positioned (rank 15 of 64). However, cafes and pharmacies are limited locally (both ranked 64 of 64 and low nationally), which may nudge residents toward nearby nodes for daily needs.
Tenure patterns indicate a moderate renter base: the neighborhood’s share of renter-occupied housing is measured at 29.1%. For investors, this suggests a defined but not saturated renter pool. Median home values sit in a mid-market range for the region, which can present some competition from entry-level ownership, but rent-to-income levels (tracked locally near the low-teens) point to manageable affordability pressure and potential for stable retention.
Within a 3-mile radius, demographics show a modest increase in population recently and a larger gain in households, alongside smaller average household sizes. This combination typically expands the renter pool and supports occupancy durability. Looking ahead, forecasts in the 3-mile area call for additional household growth, which can create incremental demand for rental units and reinforce leasing stability, based on commercial real estate analysis from WDSuite.
Vintage and competitiveness: Built in 2003, the property is materially newer than the neighborhood’s older housing stock (average vintage around the 1920s). This relative youth often translates to better functional layouts and systems compared with prewar alternatives, while still warranting selective updates as building systems age into their third decade to sustain rentability.
Comparable, neighborhood-level crime metrics were not available in the current WDSuite extract. Investors typically review multi-year trends from municipal or state sources alongside metro benchmarks to understand directional safety context. Given the absence of ranked data here, treat safety as a diligence item rather than a quantified advantage or risk.
Regional employers within commuting range help support renter demand, particularly for workforce-oriented units. Notable anchors include M&T Bank Corp., FedEx Trade Networks, McKesson, Thermo Fisher Scientific, and Erie Insurance Group.
- M&T Bank Corp. — banking (38.6 miles) — HQ
- FedEx Trade Networks — logistics (40.2 miles)
- McKesson — healthcare distribution (41.6 miles)
- Thermo Fisher Scientific — life sciences (43.6 miles)
- Erie Insurance Group — insurance (43.8 miles) — HQ
This 37-unit, 2003-built asset offers relative competitiveness versus much older neighborhood stock and benefits from neighborhood occupancy that sits above the metro median. Within a 3-mile radius, recent household growth and smaller household sizes point to a larger renter base and support for occupancy stability. According to CRE market data from WDSuite, local rent levels remain manageable versus incomes, reinforcing retention while allowing disciplined rent management.
Near-term value comes from light modernization typical for early-2000s buildings, with positioning that serves workforce renters who prioritize steady operations over luxury amenities. Key watch items include the small-market scale, limited café/pharmacy density in the immediate area, and reliance on broader regional employment nodes for demand depth.
- 2003 vintage competes well against older neighborhood stock; selective updates can refresh positioning
- Neighborhood occupancy above metro median supports leasing stability for a 37-unit property
- 3-mile household growth and smaller household sizes expand the renter pool and support demand
- Manageable rent-to-income dynamics favor retention and steady rent management
- Risks: small-market scale, thinner café/pharmacy mix, and commuting distance to major employment anchors