| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 20th | Poor |
| Demographics | 18th | Poor |
| Amenities | 43rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 228 Kingsley St, Buffalo, NY, 14208, US |
| Region / Metro | Buffalo |
| Year of Construction | 1992 |
| Units | 60 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
228 Kingsley St Buffalo Multifamily Value-Add Opportunity
Neighborhood occupancy trends and a sizable renter base suggest durable demand with selective leasing risk, according to WDSuite’s CRE market data. The 1992 vintage positions this 60-unit asset competitively versus older local stock.
Located in Buffalo’s Inner Suburb, the immediate neighborhood shows mixed fundamentals for investors. Neighborhood occupancy is lower than metro norms, so underwriters should plan for disciplined leasing and renewals at the property level; this is a neighborhood metric, not the subject asset. At the same time, the surrounding 3-mile area has a sizable renter-occupied share and ongoing household growth, supporting a deeper tenant pool.
Daily-needs access is a relative strength. Grocery access is competitive among Buffalo-Cheektowaga neighborhoods (rank 53 of 301) and sits in the top quartile nationally; parks access is also top quartile locally (rank 24 of 301) and nationally. Restaurant density compares well within the metro (rank 52 of 301). In contrast, cafes, childcare, and pharmacies are sparse nearby, which may modestly affect convenience for some residents.
School quality indicators trail national averages, which can influence unit mix strategy toward singles and couples rather than school-driven demand. Home values in the neighborhood are comparatively low for the region, which can introduce competition from ownership options; however, this typically concentrates demand in well-managed, updated rentals and can support retention where rent-to-income remains manageable.
The property’s 1992 construction stands newer than the neighborhood’s older housing stock (average year 1906). That age gap points to potential competitive advantage after targeted modernization—think systems upgrades and common-area refresh—while keeping capital planning realistic. These observations are based on commercial real estate analysis from WDSuite.
Safety is a consideration here. Within the Buffalo-Cheektowaga metro, this neighborhood’s crime rank is 77 out of 301, indicating higher incident levels than many local peers. Compared nationally, safety metrics sit in lower percentiles (violent crime around the bottom decile and property crime below the national median), though recent data show property offenses trending down year over year. Investors typically price this into underwriting through security measures, resident screening, and insurance assumptions.
Proximity to major employers supports workforce housing demand and commute convenience, notably in banking, logistics, healthcare, pharmaceuticals, and life sciences. The following nearby corporate offices can help anchor renter demand and leasing stability:
- M&T Bank Corp. — banking (1.9 miles) — HQ
- FedEx Trade Networks — logistics (3.3 miles)
- UnitedHealth Group — healthcare services (6.1 miles)
- McKesson — pharmaceuticals distribution (7.2 miles)
- Thermo Fisher Scientifc — life sciences (10.0 miles)
228 Kingsley St is a 60-unit, 1992-vintage asset that is newer than much of the surrounding housing stock, creating a practical platform for value-add through unit and systems updates. While the neighborhood’s occupancy level is on the softer side, the broader 3-mile area shows a sizable renter base and growing households, which can support absorption and renewals when paired with disciplined operations and competitive finishes.
Ownership costs nearby are relatively accessible, which can add competition from for-sale options; however, rent-to-income levels indicate manageable affordability pressure, favoring retention for well-positioned units. According to CRE market data from WDSuite, daily-needs access (notably groceries and parks) is a relative strength, while safety and school quality warrant conservative assumptions and active management.
- 1992 vintage offers value-add upside versus much older neighborhood stock.
- Sizable 3-mile renter base and household growth support demand depth and occupancy stability over time.
- Strong daily-needs access (grocery and parks) enhances livability and leasing appeal.
- Risk: neighborhood safety metrics are weaker than metro averages—underwrite for security, insurance, and prudent screening.
- Risk: comparatively low ownership costs can compete with rentals; emphasize finish quality and service to sustain pricing power.