| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Best |
| Demographics | 43rd | Poor |
| Amenities | 46th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2911 William St, Buffalo, NY, 14227, US |
| Region / Metro | Buffalo |
| Year of Construction | 2004 |
| Units | 48 |
| Transaction Date | 2023-09-16 |
| Transaction Price | $2,820,000 |
| Buyer | BGBH LLC |
| Seller | STERLING ASSOCIATES LLC |
2911 William St, Buffalo NY Multifamily Investment
Neighborhood occupancy has been resilient, supporting stable leasing conditions, according to WDSuite’s CRE market data. Positioned in an inner suburb with steady renter demand, the asset benefits from broad-based workforce housing fundamentals.
Located in an Inner Suburb of the Buffalo-Cheektowaga metro, the property draws from a renter base supported by everyday conveniences and commuting access. Neighborhood occupancy is competitive among Buffalo-Cheektowaga neighborhoods and lands in the top quartile nationally, a signal for near-term leasing stability and manageable turnover risk (based on CRE market data from WDSuite). Parks and open space test well versus national peers, while restaurants and grocery options are solid for the area; cafes and pharmacies are more limited, which can affect walk-to-amenity appeal.
The property’s 2004 construction is newer than the neighborhood’s average 1970 vintage, giving it a competitive edge versus older stock on layout and systems. Investors should still plan for mid-life building upgrades over the hold to maintain positioning against both renovated Class B and newer product.
Tenure patterns point to depth in rental demand: a majority of housing units in the neighborhood are renter-occupied, indicating a sizable tenant pool and reinforcing occupancy stability. Within a 3-mile radius, demographics show a steady population with forecasts calling for additional population growth and an increase in households by 2028, which supports a larger tenant base over time. Income measures in the 3-mile trade area have been rising, further supporting rent collections and potential for measured rent growth management.
Affordability is a mixed but investable backdrop. Neighborhood home values remain comparatively accessible in national context, which can add some competition from ownership options, yet moderate rent levels and a strong renter concentration tend to support retention. School ratings track below national averages, which may limit some family-driven demand, but workforce renters seeking value relative to core Buffalo submarkets remain a consistent audience.
Neighborhood-level crime metrics are not available in WDSuite for this location, so investors should benchmark site safety using metro and municipal reports, property-level incident history, and insurer/lender assessments. Compare trends to peer neighborhoods across the Buffalo-Cheektowaga region to gauge relative positioning rather than relying on block-level assumptions.
Proximity to corporate employers supports workforce renter demand and commute convenience, including McKesson, M&T Bank Corp., FedEx Trade Networks, UnitedHealth Group, and Thermo Fisher Scientific.
- McKesson — healthcare distribution (2.95 miles)
- M&T Bank Corp. — banking & financial services (5.60 miles) — HQ
- FedEx Trade Networks — logistics & trade services (7.77 miles)
- UnitedHealth Group — healthcare services (9.16 miles)
- Thermo Fisher Scientifc — life sciences (14.14 miles)
This 48-unit, 2004-vintage asset benefits from neighborhood occupancy that is competitive within the Buffalo-Cheektowaga metro and strong in national context, underpinning day-one leasing stability. Renter concentration in the immediate area, coupled with a growing 3-mile trade area and proximity to diverse employers, supports a durable tenant base and consistent renewal prospects. According to CRE market data from WDSuite, amenity coverage is solid for restaurants, parks, and groceries, helping sustain livability even as certain conveniences are thinner.
Newer construction relative to local stock offers a positioning edge versus older Class B assets, while leaving room for targeted mid-life capital plans to protect NOI and competitiveness. Affordability dynamics are balanced: ownership remains comparatively accessible locally, but moderate rents and a strong renter-occupied share support retention and occupancy, with trade-area income growth offering potential for disciplined rent management.
- Occupancy strength at the neighborhood level supports stable leasing and renewal potential.
- 2004 vintage provides a competitive edge versus older local stock, with clear mid-life value-add and systems-upgrade pathways.
- Diversified nearby employers expand the workforce renter pool and aid retention.
- Trade-area population and income growth (3-mile radius) support demand and measured pricing power.
- Risks: thinner café/pharmacy coverage and below-average school ratings; accessible homeownership may add competition in certain segments.