| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 28th | Poor |
| Demographics | 40th | Poor |
| Amenities | 73rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1500 Jefferson Ave, Buffalo, NY, 14208, US |
| Region / Metro | Buffalo |
| Year of Construction | 1998 |
| Units | 60 |
| Transaction Date | 2023-09-01 |
| Transaction Price | $1,375,563 |
| Buyer | 1490 ESTATES LP |
| Seller | 1490 ESTATES HSNG DEVELOMENT FUND CORP |
1500 Jefferson Ave Buffalo Multifamily Investment
Neighborhood amenities and a growing 3-mile renter pool support steady leasing potential, according to WDSuite s CRE market data, though local occupancy trends suggest hands-on asset management will matter.
Located in Buffalo s Inner Suburb, the area surrounding 1500 Jefferson Ave rates above the metro median among 301 neighborhoods and benefits from strong day-to-day convenience. Parks, childcare, cafes, and groceries cluster at concentrations that place the neighborhood in the top quartile nationally for several amenity categories, helping with retention and everyday livability for renters.
Renter-occupied housing comprises roughly one-third of units within the immediate neighborhood, indicating a thinner local renter base; however, demographics aggregated within a 3-mile radius show a predominantly renter context and continued population and household growth, which broadens the demand catchment and supports occupancy stability for well-operated assets.
Median contract rents in the neighborhood sit below national medians, which can aid renewals and reduce affordability pressure while limiting near-term pricing power. Home values are comparatively lower than many U.S. neighborhoods, which means some households have more accessible ownership options nearby a competitive factor investors should weigh against the depth of the larger 3-mile renter pool.
The average housing stock in the immediate area dates to the early 1900s, while this property s 1998 vintage is newer than the neighborhood norm. That relative youth can enhance competitive positioning versus older comparables, though investors should still plan for system updates and modernization to meet contemporary renter expectations.
Safety indicators for the neighborhood track below national medians, signaling elevated incident rates relative to many U.S. neighborhoods. Even so, recent data points to year-over-year improvement in violent offenses, suggesting a constructive trend that investors can monitor alongside local policing and community initiatives.
Within the Buffalo-Cheektowaga metro (301 neighborhoods), the area s safety standing sits below the metro average. For underwriting, this typically means extra emphasis on on-site security, lighting, and resident engagement to support retention and stabilize operations.
Proximity to major employers underpins renter demand by shortening commutes and supporting workforce housing. Nearby anchors include M&T Bank, FedEx Trade Networks, UnitedHealth Group, McKesson, and Thermo Fisher Scientific.
- M&T Bank Corp. financial services (2.1 miles) HQ
- FedEx Trade Networks logistics (2.6 miles)
- UnitedHealth Group healthcare services (5.5 miles)
- McKesson healthcare distribution (7.9 miles)
- Thermo Fisher Scientific life sciences (9.3 miles)
Built in 1998 with approximately 60 units, the property is newer than much of the surrounding housing stock, offering a competitive positioning edge versus older assets. Based on CRE market data from WDSuite, the broader 3-mile area shows population and household growth alongside a predominantly renter context, which supports a larger tenant base and can help sustain occupancy for professionally managed communities.
At the neighborhood level, amenity access is a relative strength while rents and ownership costs remain comparatively modest, aiding lease retention but moderating near-term pricing power. Safety metrics trend below national medians and neighborhood occupancy runs softer than many metros, highlighting the importance of hands-on operations, resident experience, and targeted capital to capture value-add upside.
- 1998 vintage offers a relative edge over older neighborhood stock, with potential to add value via modernization.
- 3-mile renter pool expansion and household growth support demand and leasing velocity.
- Strong amenity access (parks, childcare, cafes, groceries) aids resident retention and marketing.
- Modest rents and ownership costs suggest stable renewals but may temper immediate pricing power.
- Risks: below-median safety metrics and softer neighborhood occupancy call for active management and targeted capex.