| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Good |
| Demographics | 71st | Best |
| Amenities | 44th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 657 Colvin Blvd, Buffalo, NY, 14217, US |
| Region / Metro | Buffalo |
| Year of Construction | 1975 |
| Units | 61 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
657 Colvin Blvd, Buffalo NY Multifamily Investment
Neighborhood occupancy has been exceptionally stable, supporting leasing consistency and retention, according to CRE market data from WDSuite. With a moderate renter base nearby and accessible daily amenities, the asset’s location underpins steady demand drivers.
Located in an inner suburb of Buffalo-Cheektowaga, the neighborhood posts an A rating and ranks 36th out of 301 metro neighborhoods, placing it in the top quartile locally. Amenity access is a practical strength: cafes and restaurants are competitive among metro peers and land in higher national percentiles, while grocery access is above average. Pharmacies are particularly dense relative to national norms. Park space and childcare options are limited in the immediate area, so residents rely more on private offerings and nearby districts.
Schools trend around the national midpoint based on average ratings, which supports broad appeal without commanding a premium by itself. The local renter-occupied share is about 35% of housing units, indicating a balanced tenure mix that can sustain multifamily absorption without overreliance on transient demand. Median rent levels and a low rent-to-income ratio in the neighborhood suggest manageable affordability pressure, which is constructive for lease renewal and collections but can moderate near-term pricing power.
Within a 3-mile radius, demographics point to a larger tenant base over time: population and households have grown in recent years, and forecasts indicate additional population growth with further household gains, which expands the renter pool. Household sizes are edging smaller, which typically supports demand for apartments and smaller formats. Income measures in the 3-mile area have been rising, reinforcing depth for market-rate product.
For context on ownership, neighborhood home values are in a mid-range band for the region, and the value-to-income ratio sits below many coastal markets. In practice, this can introduce some competition from ownership for higher-earning households, yet elevated convenience and flexibility in rental living help sustain renter reliance. Overall, these local dynamics support stable occupancy and steady leasing potential for a well-maintained property.
Comparable safety metrics at the neighborhood level are not available in WDSuite for this address. Investors typically benchmark local conditions against metro and national trends and supplement with municipal reports and property-level operating history to assess risk and mitigation strategies.
Given the absence of ranked crime data here, prudent underwriting would incorporate third-party sources and on-the-ground diligence, focusing on lighting, access control, and resident feedback as part of standard risk evaluation.
Proximity to healthcare, financial services, and logistics employers supports a diverse commuter base and can aid tenant retention for workforce housing. Nearby anchors include UnitedHealth Group, FedEx Trade Networks, M&T Bank Corp., and Thermo Fisher Scientific.
- UnitedHealth Group — healthcare services (2.5 miles)
- FedEx Trade Networks — logistics & trade services (2.8 miles)
- FedEx Trade Networks — logistics & trade services (3.2 miles)
- M&T Bank Corp. — financial services (4.9 miles) — HQ
- Thermo Fisher Scientifc — life sciences offices (7.1 miles)
Built in 1975, the property is newer than much of the neighborhood’s older housing stock, positioning it competitively versus prewar assets while still offering potential renovation upside to modernize systems and interiors. Occupancy in the surrounding neighborhood has been exceptionally strong, which supports leasing stability and reduces downtime risk for a 61-unit asset. According to CRE market data from WDSuite, local rents relative to incomes indicate manageable affordability pressure, favoring renewals and consistent collections.
Location fundamentals include strong day-to-day conveniences, access to diversified employers within a short drive, and a growing 3-mile-area renter pool supported by rising household counts and incomes. Counterbalancing factors include mid-range school scores, limited nearby parks and childcare, and homeownership that is attainable for some households, which can modestly compete with rentals—points to incorporate into pricing, amenity strategy, and capital plans.
- Occupancy strength and balanced renter base support stable leasing and retention
- 1975 vintage offers competitive positioning vs. older stock with value-add potential
- Amenity-rich corridor and proximity to diversified employers bolster demand
- Manageable rent-to-income dynamics favor renewals and cash flow consistency
- Risks: average school scores, limited parks/childcare, and some competition from ownership