| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Best |
| Demographics | 61st | Good |
| Amenities | 25th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1440 Millersport Hwy, Buffalo, NY, 14221, US |
| Region / Metro | Buffalo |
| Year of Construction | 1977 |
| Units | 107 |
| Transaction Date | 2012-01-01 |
| Transaction Price | $8,200,000 |
| Buyer | RRG Buffalo Apartments LLC |
| Seller | Triad Building Associates |
1440 Millersport Hwy, Buffalo Multifamily Investment Thesis
Neighborhood occupancy is high and has trended up, supporting income stability for a 107-unit asset, according to WDSuite’s CRE market data. Position in Buffalo’s inner suburb offers steady renter demand with balanced affordability and room for disciplined value-add.
This inner-suburb location in Buffalo-Cheektowaga shows a B+ neighborhood rating with occupancy in the surrounding area at a strong level and improving over the past five years. Neighborhood metrics reflect the neighborhood, not the property, and indicate conditions that typically support stable leasing and retention for well-managed multifamily.
Daily-needs amenities are mixed: park access tests well versus national peers (top quartile nationally), and restaurant density is competitive, while cafes, groceries, and pharmacies are comparatively sparse. For investors, this suggests residents may rely on a broader trade area for errands, but recreational access and dining options help overall livability.
Schools in the area average around 3.0 out of 5 and sit above national midline, which can aid family-oriented renter demand. The neighborhood’s renter-occupied share is in the mid-30% range, signaling a meaningful, though not dominant, renter concentration that typically supports a workable tenant base without oversaturation.
Within a 3-mile radius, demographics show recent population growth with a larger increase in households and a notable rise in higher-income brackets. Forward-looking projections indicate continued population growth and a sizable increase in households through 2028, implying a larger tenant base and sustained demand for rental units. Median home values sit near national midline; combined with a moderate rent-to-income profile, this points to manageable affordability pressures that can support lease retention and disciplined pricing, based on commercial real estate analysis from WDSuite.
Safety indicators are comparatively favorable versus national norms: property offense levels screen in the top quartile nationally, and violent offense measures are above the national average. Recent trends are mixed, with meaningful improvement in property offenses alongside a short-term uptick in violent incidents. Interpreting these as neighborhood-level signals (not property-specific), the area remains competitive among Buffalo-Cheektowaga neighborhoods, but investors should monitor trend direction as part of ongoing risk management.
Nearby corporate employment anchors support renter demand via diversified office and services roles, offering commute convenience for residents. The list below reflects major employers within a practical radius: UnitedHealth Group, FedEx Trade Networks, M&T Bank Corp., Thermo Fisher Scientific, and McKesson.
- UnitedHealth Group — healthcare & insurance services (3.6 miles)
- FedEx Trade Networks — logistics & trade services (6.1 miles)
- M&T Bank Corp. — banking & financial services (8.2 miles) — HQ
- Thermo Fisher Scientifc — life sciences offices (9.4 miles)
- McKesson — healthcare distribution (10.3 miles)
At 107 units and built in 1977, the asset offers potential value-add and ongoing capital planning opportunities while benefiting from neighborhood occupancy that is above national norms. The surrounding area’s renter-occupied share in the mid-30% range supports a stable tenant base, while moderate rent-to-income metrics point to manageable affordability pressure that can aid retention and steady lease trade-outs.
Within a 3-mile radius, recent population growth and an increase in households, with projections indicating further expansion by 2028, suggest a growing renter pool. Median home values near national midline and elevated ownership costs relative to incomes in parts of the metro reinforce reliance on rentals, supporting occupancy and leasing durability. Based on multifamily property research from WDSuite, property crime has improved year over year at the neighborhood level, though a recent uptick in violent incidents warrants monitoring and prudent security/operational planning.
- High neighborhood occupancy and steady renter base support income stability
- 1977 vintage provides value-add and modernization upside with targeted capex
- Growing 3-mile household counts point to a larger tenant pool and lease-up resilience
- Moderate rent-to-income dynamics favor retention and disciplined pricing power
- Risk: mixed safety trends (violent incident uptick) and limited daily-services density require active management