| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Fair |
| Demographics | 41st | Poor |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 151 Bennett Rd, Buffalo, NY, 14227, US |
| Region / Metro | Buffalo |
| Year of Construction | 2005 |
| Units | 36 |
| Transaction Date | 2013-07-30 |
| Transaction Price | $4,589,183 |
| Buyer | 151 BENNETT ROAD LLC |
| Seller | MAPLEWOOD COMMONS LLC |
151 Bennett Rd, Buffalo NY Multifamily Investment Opportunity
Positioned for steady leasing in a submarket with low-90s neighborhood occupancy and accessible rents, according to WDSuite’s CRE market data. Newer 2005 construction relative to nearby housing stock supports competitive positioning and predictable capital planning.
The property sits in a Rural-designated neighborhood within the Buffalo–Cheektowaga metro, where local amenities are a relative strength. Amenity access ranks in the top quartile among 301 metro neighborhoods, with cafés also in the top quartile and parks performing similarly; grocery options are competitive among Buffalo–Cheektowaga neighborhoods. These features help underpin day-to-day livability and can support retention.
Neighborhood occupancy is approximately 93% and has softened modestly over the past five years, based on CRE market data from WDSuite. That said, the area’s renter demand is reinforced by a balanced mix of services and a household income profile near the national midpoint. For investors, this points to stable lease-up dynamics with measured rent-setting expectations.
Tenure patterns vary by lens: within a 3-mile radius, roughly 29% of housing units are renter-occupied, indicating a meaningful but not dominant renter base. This supports depth for conventional multifamily while suggesting that lease management should prioritize retention and renewals over aggressive turnover strategies.
Home values in the immediate neighborhood are modest for the region, and rent-to-income metrics are low by national standards. For multifamily owners, a high-cost ownership market is not the driver here; instead, accessible rents can support occupancy stability but may limit near-term pricing power. Importantly, the subject’s 2005 vintage is newer than the neighborhood’s typical 1960-era housing stock, which enhances competitive positioning versus older rentals while still warranting periodic system upgrades and light renovations over a hold.
Comparable neighborhood-level safety metrics are not available in this dataset for the property’s immediate area. Investors typically benchmark site security, lighting, and access control against citywide trends and peer assets, and evaluate management practices and visibility to arterial corridors as part of diligence.
Proximity to diversified employers supports a steady commuter renter base, with healthcare, logistics, and financial services all within a manageable drive. The companies below represent nearby demand anchors relevant to leasing stability.
- McKesson — healthcare distribution offices (2.9 miles)
- M&T Bank Corp. — financial services (6.4 miles) — HQ
- FedEx Trade Networks — logistics (8.3 miles)
- UnitedHealth Group — healthcare services (9.4 miles)
- Thermo Fisher Scientific — life sciences (14.5 miles)
151 Bennett Rd offers a 36-unit, 2005-vintage asset in a neighborhood where occupancy is in the low 90s and day-to-day amenities rank favorably within the metro. According to CRE market data from WDSuite, the surrounding housing stock skews older, which positions a mid-2000s asset as competitively differentiated while keeping capital plans focused on modernization of finishes and periodic system refreshes rather than heavy repositioning.
Demographics aggregated within a 3-mile radius show stable population trends recently and a projected increase in households over the next five years alongside slightly smaller household sizes. That pattern typically expands the renter pool and supports occupancy stability. With accessible neighborhood home values and low rent-to-income ratios, the thesis centers on durable tenancy and retention rather than outsized rent growth, with value creation through operations, light renovations, and disciplined expense control.
- 2005 construction competes well against predominantly 1960s-era housing, reducing near-term heavy CapEx risk.
- Low-90s neighborhood occupancy and solid amenity access support leasing consistency.
- 3-mile household growth forecast and smaller household sizes point to a larger renter base over time.
- Accessible rents favor retention; revenue strategy should emphasize renewals and operational efficiency.
- Risks: occupancy has eased in recent years, renter-occupied share is moderate, and ownership alternatives may temper rent pacing.