| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Best |
| Demographics | 48th | Fair |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 303 North St, Buffalo, NY, 14201, US |
| Region / Metro | Buffalo |
| Year of Construction | 1975 |
| Units | 59 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
303 North St Buffalo Urban Core Multifamily
Renter concentration and improving neighborhood occupancy point to demand resilience for a 59-unit asset, according to WDSuite’s CRE market data. Strong amenity access further supports tenant retention, with these occupancy indicators measured at the neighborhood level, not the property.
Located in Buffalo’s Urban Core, the neighborhood ranks 40 of 301 metro neighborhoods (A rating), placing it in the top quartile locally. Amenity access stands out: grocery and pharmacy density track in the top quartile nationally, and restaurants and parks are also competitive, supporting everyday convenience and rental appeal.
The renter-occupied share is 56.8% (high within the metro), indicating a deep tenant base and steady multifamily demand. Neighborhood occupancy has trended higher over five years, which supports leasing stability for operators, though performance varies by asset and submarket positioning.
Within a 3-mile radius, the population has expanded and households have risen, with forecasts calling for further population growth and a larger household count. Smaller average household sizes are expected, implying more households relative to people and a broader renter pool over time—dynamics that typically support occupancy stability and absorption for well-positioned multifamily.
Home values in the neighborhood are elevated relative to incomes (high national percentile for value-to-income ratio), signaling a high-cost ownership market in context. For investors, that tends to reinforce reliance on multifamily housing, supporting pricing power and lease retention. Median contract rents sit around the middle of the national distribution with a moderate rent-to-income ratio, which can help manage affordability pressure and support renewals.
The property’s 1975 vintage is newer than much of the surrounding housing stock (average construction year skews early 1900s). This positioning can be competitive against older buildings while still benefiting from targeted modernization or systems upgrades to improve unit mix efficiency and operating margins.
Safety indicators are mixed. The neighborhood sits below national safety percentiles overall and ranks 84 out of 301 metro neighborhoods, indicating comparatively higher crime levels in the local context. That said, recent trends show violent offense rates edging down year over year, while property offense rates have moved up—underscoring the need for asset-level security practices and attentive operations.
Investors typically address this by focusing on professional management, lighting and access controls, and resident engagement. Comparing property performance to nearby competitive sets is recommended to calibrate marketing, screening, and operating budgets appropriately for the submarket.
Proximity to major employers supports workforce housing demand and commute convenience, notably in financial services, logistics, healthcare, and life sciences. The following nearby employers anchor Buffalo s job base referenced here.
- M&T Bank Corp. banking & financial services (1.1 miles) HQ
- FedEx Trade Networks logistics & trade (2.3 miles)
- UnitedHealth Group healthcare services (6.5 miles)
- McKesson healthcare distribution (8.5 miles)
- Thermo Fisher Scientifc life sciences (9.3 miles)
303 North St sits in a top-quartile Buffalo neighborhood with strong amenity access and a high renter-occupied share, signaling depth of tenant demand. Neighborhood occupancy has improved over the past five years, and, according to CRE market data from WDSuite, convenience drivers such as groceries, pharmacies, and restaurants rank competitively at a national level—factors that can support lease retention and steady absorption for a 59-unit asset.
Within a 3-mile radius, population and household counts have increased, with forecasts pointing to additional growth and smaller household sizes—conditions that typically expand the renter pool. Built in 1975, the asset is newer than much of the local housing stock, offering relative competitiveness versus older buildings while presenting modernization opportunities to drive rent and operating performance. Ownership costs are elevated relative to incomes locally, which tends to sustain multifamily demand and supports pricing power for well-managed properties.
- Top-quartile neighborhood within the Buffalo-Cheektowaga metro with strong amenity access
- High renter-occupied share underpins a deep tenant base and demand resilience
- 1975 vintage offers competitive positioning versus older stock with value-add potential
- 3-mile growth outlook and smaller household sizes support renter pool expansion
- Risk: below-national safety metrics and uneven property crime trends warrant proactive management