| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 29th | Good |
| Demographics | 35th | Poor |
| Amenities | 17th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15 Cherry St, Frewsburg, NY, 14738, US |
| Region / Metro | Frewsburg |
| Year of Construction | 1985 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
15 Cherry St Frewsburg 24-Unit Multifamily Investment
Neighborhood occupancy trends are strong and stable relative to the metro, according to WDSuite’s CRE market data, supporting steady cash flow potential for a 24-unit asset in a rural setting. Rents remain comparatively accessible, which can aid retention while leaving measured room for value-add repositioning.
This rural neighborhood in the Jamestown–Dunkirk–Fredonia metro shows healthy renter demand signals for multifamily investors. Neighborhood occupancy is 95.1% and ranks 8 out of 64 metro neighborhoods, placing it in the top quartile locally and around the 72nd percentile nationwide. That combination typically supports leasing stability and reduces downtime risk for similar vintage assets.
Schools test well for the region, with the neighborhood’s average school rating of 3.5 out of 5 ranking 5 of 64 and landing in the 73rd percentile nationally. For workforce-oriented properties, this kind of school performance can bolster family-driven demand and renewal propensity.
Amenity density is limited overall (amenity rank 21 of 64, competitive among metro neighborhoods but below national norms), with particularly sparse cafes, groceries, and parks, while pharmacy access is comparatively better (about the 62nd percentile nationally). Investors should plan for car-oriented living expectations and emphasize on-site conveniences to offset the thinner retail mix.
Relative affordability is a defining feature. Neighborhood median contract rent and a rent-to-income ratio near 0.14 indicate moderate affordability pressure, which can support retention and measured pricing power. Median home values are lower than many national peers, implying a more accessible ownership market; for investors this can mean some competition from entry-level ownership, so asset strategy should prioritize livability, maintenance quality, and professional management to sustain occupancy.
Within a 3-mile radius, demographics point to a larger tenant base over time. Population rose about 18% over the last five years and is projected to grow roughly 30% over the next five, with households up historically and forecast to expand further. The renter-occupied share within this radius is currently modest (about 16.8%) but is projected to increase toward roughly one-quarter, signaling a broader renter pool and support for occupancy stability.
Vintage context matters: the property’s 1985 construction is newer than the neighborhood’s older average stock (1933). That generally enhances competitive positioning versus pre-war buildings, while still warranting targeted capital planning for aging systems and potential cosmetic updates to capture value-add upside.
Neighborhood-level crime metrics were not available in WDSuite’s current release for this location. Investors should review city and county public safety reports and trend data to contextualize property-level operations, insurance, and staffing needs. Compare trends against the broader Jamestown–Dunkirk–Fredonia metro for a balanced view.
The asset’s demand profile is underpinned by top-quartile neighborhood occupancy within the metro and a 3-mile radius showing population and household growth. According to CRE market data from WDSuite, this neighborhood’s occupancy outperforms most local peers, suggesting steady leasing and limited downtime when paired with sound operations. The 1985 vintage is relatively newer than much of the area’s housing stock, positioning the property well against older comparables while leaving scope for targeted renovations to enhance rents without overshooting local affordability.
Investors should weigh rural amenity depth and a relatively accessible ownership market against the benefits of retention-friendly rents and improving renter concentration nearby. Strategy that centers on reliable maintenance, on-site convenience, and family-friendly features aligned with solid local schools can help sustain occupancy and pricing power.
- Top-quartile neighborhood occupancy in the metro supports leasing stability
- 3-mile population and household growth expands the renter pool over time
- 1985 vintage offers competitive positioning vs. older local stock with value-add potential
- Relative rent affordability aids retention while allowing measured rent optimization
- Risks: rural amenity scarcity and accessible ownership options can temper rent growth