| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Best |
| Demographics | 78th | Best |
| Amenities | 29th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 96 Elmhurst Pl, Buffalo, NY, 14216, US |
| Region / Metro | Buffalo |
| Year of Construction | 1993 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
96 Elmhurst Pl Buffalo Multifamily Investment Opportunity
Renter concentration in the surrounding neighborhood supports a steady tenant base and occupancy near the metro middle, according to WDSuite’s CRE market data. For a 32-unit asset, that backdrop suggests durable leasing with room to optimize operations.
Situated in an Inner Suburb setting of Buffalo, the neighborhood carries an A- rating and ranks 61st among 301 metro neighborhoods—competitive among Buffalo-Cheektowaga neighborhoods. Local occupancy trends sit around the national middle, indicating generally stable lease-up conditions without pronounced volatility.
Livability signals are mixed but investable. The area scores in the top quartile nationally for average school ratings (about 4.0 out of 5), which can enhance family-oriented renter retention. Parks and pharmacy access both sit in high national percentiles, offering everyday convenience, while broader amenity density (restaurants, cafes, groceries) is thinner—an operational consideration for marketing and tenant expectations.
Tenure patterns are favorable for multifamily: the neighborhood shows a high share of renter-occupied housing units (upper-percentile nationally), pointing to a deep renter pool that can support occupancy stability and ongoing renewal activity. Median contract rents in the neighborhood are above the national midpoint, while the rent-to-income profile trends near the national middle—useful for balancing pricing with retention in lease management.
Within a 3-mile radius, recent population and household growth, plus forecasts calling for further household gains, indicate a larger tenant base over time and potential renter pool expansion. Elevated home values versus local incomes in the neighborhood suggest a high-cost ownership market, which tends to reinforce multifamily demand by sustaining reliance on rental housing—an important context for underwriting renewal and leasing risk.
Vintage matters: the property was built in 1993, notably newer than the neighborhood’s older housing stock. This relative vintage advantage can support competitive positioning versus prewar buildings, though investors should plan for system updates and targeted renovations typical for assets of this age to capture value-add upside.
Public safety indicators are mixed. The neighborhood’s crime rank sits in the lower third when compared with 301 metro neighborhoods, and national percentiles point to below-average safety nationally. That said, recent year-over-year trends show modest declines in both violent and property offenses, which is a constructive directional signal to monitor.
For underwriting, frame safety as a block-to-block variable and focus on property-level measures (lighting, access control) and tenant screening. Comparative positioning versus the metro suggests caution on premiums, while the improving trend argues for ongoing observation rather than a binary risk view.
Nearby corporate offices provide a diversified employment base that supports renter demand and commute convenience, led by FedEx Trade Networks, M&T Bank Corp., UnitedHealth Group, and Thermo Fisher Scientific within a short drive.
- FedEx Trade Networks — corporate offices (1.4 miles)
- FedEx Trade Networks — corporate offices (3.5 miles)
- M&T Bank Corp. — corporate offices (3.6 miles) — HQ
- UnitedHealth Group — corporate offices (3.8 miles)
- Thermo Fisher Scientifc — corporate offices (7.3 miles)
96 Elmhurst Pl offers a 32-unit footprint in a neighborhood with renter-occupied housing concentrations that are high by national standards, supporting depth of demand and renewal stability. Occupancy in the area trends near the national middle, which typically favors steady leasing over boom-bust swings. According to CRE market data from WDSuite, local schools score well relative to national peers, and parks/pharmacy access is strong even as everyday retail density is thinner—useful context for marketing and tenant experience planning.
Built in 1993, the asset is materially newer than much of the surrounding housing stock, which can enhance competitive positioning versus older properties. Within a 3-mile radius, recent and projected gains in population and households point to renter pool expansion that can support occupancy and measured rent growth over time. Investors should underwrite routine system updates and targeted renovations, calibrating rents to the neighborhood’s rent-to-income profile to balance pricing power with retention.
- Strong renter-occupied share indicates depth of tenant demand and supports stable leasing
- 1993 vintage offers relative competitiveness versus older local stock with value-add potential
- 3-mile population and household growth signal a larger renter base over the hold period
- High-cost ownership context supports reliance on rentals and renewal prospects
- Risks: thinner walkable retail and below-metro safety positioning warrant conservative underwriting and property-level mitigations