| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 16th | Poor |
| Demographics | 39th | Fair |
| Amenities | 10th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 80 W Main St, Ripley, NY, 14775, US |
| Region / Metro | Ripley |
| Year of Construction | 1992 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
80 W Main St Ripley NY 24-Unit Multifamily
Newer-than-area vintage positions this 1992, 24-unit asset as a competitive option in a rural submarket where older stock dominates, according to WDSuite’s CRE market data. Investor focus centers on value-add modernization and disciplined leasing to manage softer neighborhood occupancy.
Ripley is a rural neighborhood within the Jamestown–Dunkirk–Fredonia metro and carries a C rating (ranked 52 out of 64 metro neighborhoods), placing it below the metro median. Local amenities are sparse (low national amenity percentile), so the property’s draw will rely more on basic housing needs and practical access rather than lifestyle features.
The average housing vintage in the neighborhood skews older (1930s), while this property was built in 1992. That relative youth can support competitiveness versus nearby legacy assets, though investors should still underwrite for system updates and targeted renovations to enhance leasing and retention.
Neighborhood occupancy is weaker than many metro peers, reflecting demand softness that requires conservative lease-up assumptions and active marketing. At the same time, ownership costs are comparatively accessible in this area, which can create competition with for-sale options and may temper near-term pricing power for rentals.
Demographic statistics aggregated within a 3-mile radius show modest population contraction historically and a projected decline over the next five years, but a projected increase in total households and smaller average household size point to a steadier need for rental options. The renter-occupied share in this radius is expected to rise, indicating a potential expansion of the tenant base even as the overall population trends lower. School ratings sit above the national median, which can support longer-term stability for family renters.
Neighborhood-level crime metrics are not available from WDSuite for this area, so investors should benchmark safety using county and metro comparisons and recent trend data. A prudent approach is to review multi-year, like-for-like statistics and align security measures with underwriting assumptions rather than relying on anecdotal impressions.
Regional employment is anchored by insurance and manufacturing within commuting distance, supporting workforce housing demand and lease retention for residents with established tenures.
- Erie Insurance Group — insurance (21.2 miles) — HQ
- Parker-Hannifin — manufacturing (24.4 miles)
Built in 1992 with 24 units, 80 W Main St offers relative vintage advantage in a rural neighborhood dominated by older stock. Based on commercial real estate analysis from WDSuite, investors should balance this competitive positioning with measured expectations around leasing given neighborhood occupancy that trails stronger metro pockets. Affordability metrics indicate limited rent burden, which can aid retention but calls for disciplined rent growth management.
Household trends within a 3-mile radius point to smaller household sizes and a rising renter-occupied share, reinforcing the case for practical upgrades that improve durability and operating efficiency. A focused value-add program—targeting interiors, building systems, and curb appeal—can sharpen competitiveness against older comparables and support steady absorption.
- 1992 vintage offers competitive edge versus older neighborhood stock; plan for modernization of systems and finishes.
- Household shifts (3-mile radius) toward smaller sizes and higher renter share can deepen tenant pool and support occupancy stability.
- Favorable rent-to-income dynamics support retention; emphasize value and service to sustain renewals.
- Risk: Neighborhood occupancy trails stronger metro areas; underwrite conservative lease-up, incentives, and marketing spend.