| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Best |
| Demographics | 61st | Good |
| Amenities | 25th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1416 Millersport Hwy, Buffalo, NY, 14221, US |
| Region / Metro | Buffalo |
| Year of Construction | 1976 |
| Units | 110 |
| Transaction Date | 2012-01-01 |
| Transaction Price | $8,200,000 |
| Buyer | RPG Buffalo Apartments, LLC |
| Seller | Triad Building Associates, LP |
1420 Millersport Hwy Buffalo Multifamily Investment
Neighborhood occupancy is strong for this inner-suburban location, supporting stable leasing dynamics for a 110-unit asset, according to WDSuite’s CRE market data.
Located in an Inner Suburb of the Buffalo-Cheektowaga metro, the neighborhood carries a B+ rating and shows leasing resilience. Neighborhood occupancy is competitive among 301 Buffalo-Cheektowaga neighborhoods and sits in the top quartile nationally, which supports income stability and reduces downtime between turns for multifamily owners.
Renter-occupied share in the neighborhood is roughly one-third, indicating a moderate renter concentration that can support steady multifamily demand without excessive turnover risk. Within a 3-mile radius, households have increased modestly and are projected to expand further over the next five years, pointing to a larger tenant base and sustained interest in rental units. Median contract rents in the neighborhood rank above the national midpoint, while the rent-to-income profile suggests manageable affordability pressure, a positive for retention and lease management.
Local amenity access is mixed: restaurants score well compared with neighborhoods nationwide (upper quartiles), and parks access is strong, while cafes, groceries, and pharmacies are thinner. Average school ratings sit above national midpoints, which can help broaden the renter pool for family-oriented product. Relative to the metro, these dynamics position the area as competitive, with livability drivers that can help backfill units and support rent collections.
Home values in the neighborhood sit near national midpoints but skew toward a higher value-to-income ratio versus many U.S. areas, reinforcing reliance on multifamily housing for households weighing ownership costs. For investors, that backdrop—combined with high neighborhood occupancy—supports pricing power and lease-up predictability, based on commercial real estate analysis from WDSuite.
Safety indicators compare favorably in context. Overall crime ranks among the stronger portions of the metro (top quartile among 301 neighborhoods), and national comparisons place the neighborhood above average for safety. Property offense rates sit in the top quartile within the metro and track strong nationally, with a notable year-over-year decline, which is supportive of renter retention and leasing stability.
Violent offense levels are also comparatively favorable on current-year readings (top quartile within the metro and above average nationally), but recent year-over-year volatility suggests monitoring. Investors should underwrite with current comps while tracking trend persistence rather than assuming straight-line improvement.
The area draws on a diversified employment base that supports renter demand and commute convenience, including healthcare, logistics, banking, life sciences, and pharmaceutical distribution. The employers listed below reflect nearby demand drivers that can aid leasing and retention.
- UnitedHealth Group — healthcare services (3.6 miles)
- FedEx Trade Networks — logistics (6.1 miles)
- M&T Bank Corp. — banking & corporate services (8.1 miles) — HQ
- Thermo Fisher Scientifc — life sciences offices (9.4 miles)
- McKesson — pharmaceutical distribution (10.2 miles)
1420 Millersport Hwy offers scale at 110 units with neighborhood occupancy in the upper national quartiles, pointing to durable leasing and limited downtime. The address sits in an Inner Suburb with restaurant and park access that performs well nationally, while ownership costs run relatively high versus incomes locally—conditions that can reinforce renter reliance on multifamily housing. According to CRE market data from WDSuite, the neighborhood’s rent positioning is above national midpoints with a rent-to-income profile consistent with stable renewal potential.
Built in 1976, the asset is slightly older than the neighborhood’s late‑1970s average, suggesting investors should plan for targeted capital improvements and potential value‑add modernization to sharpen competitive positioning against newer stock. Within a 3-mile radius, population is edging up and households are projected to increase, indicating a larger renter pool that can support occupancy stability over the hold period.
- High neighborhood occupancy and above‑median rent positioning support cash flow consistency
- 110‑unit scale provides operating efficiencies and diversification across leases
- Ownership costs relative to income support sustained multifamily demand and renewal prospects
- 1976 vintage offers value‑add and CapEx planning opportunities to enhance NOI
- Risks: amenity gaps (limited groceries/cafes) and recent safety trend volatility warrant monitoring and conservative underwriting