| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 41st | Fair |
| Demographics | 56th | Fair |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1045 Sturgeon Point Rd, Derby, NY, 14047, US |
| Region / Metro | Derby |
| Year of Construction | 1985 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1045 Sturgeon Point Rd, Derby, NY - 36-Unit Multifamily (1985)
Neighborhood occupancy around 94% with multi-year improvement supports durable renter demand, according to WDSuite's CRE market data. The property's 36-unit scale offers operational efficiencies in a rural pocket with steady leasing fundamentals.
Set in Derby within the Buffalo-Cheektowaga metro, the neighborhood rates as competitive among 301 metro neighborhoods (B rating), indicating balanced livability and investment fundamentals rather than a clear outlier. Occupancy in the neighborhood is reported at roughly 94% with an upward trend over five years, supporting lease stability and reducing downtime risk for multifamily assets based on CRE market data from WDSuite.
Amenities are modest for a rural area, with limited restaurants but acceptable access to parks, pharmacies, and a few cafes. Average school quality trends slightly above national norms (around the 60th percentile), which can support longer-term retention for family renters without materially driving rents beyond local market thresholds.
Tenure patterns point to a smaller renter-occupied base at the neighborhood level (about one-fifth of housing units renter-occupied within a 3-mile radius), which suggests a thinner but steady pool of tenants. For investors, this typically favors well-managed, appropriately priced units and may limit absorption for high-end repositionings.
Within a 3-mile radius, recent population trends were flat to slightly down, but WDSuite's projections indicate a modest population uptick and a noticeable increase in households over the next five years. A gradual decrease in average household size implies more households forming from a similar resident base, which can expand the local renter pool and support occupancy stability.
Home values in the neighborhood are in a mid-range for the region (median near $194K). In practice, this creates a mixed dynamic: ownership is relatively attainable for some households, which can cap pricing power at the top end, but multifamily remains a more accessible option for many residents, helping sustain rental demand and lease retention.
Comparable neighborhood-level safety metrics were not available in WDSuite for this location. Investors typically benchmark property performance against broader city and metro trends, review multi-year patterns rather than single-year snapshots, and incorporate on-the-ground diligence (property operations, lighting, access control) to assess resident experience and retention risk.
Employment demand is anchored by regional office and services employers within commuting range, supporting workforce housing dynamics and steady renter demand. Notable nearby employers include M&T Bank Corp., FedEx Trade Networks, McKesson, UnitedHealth Group, and Thermo Fisher Scientific.
- M&T Bank Corp. - financial services (16.0 miles) - HQ
- FedEx Trade Networks - global logistics (18.2 miles)
- McKesson - healthcare distribution (18.4 miles)
- UnitedHealth Group - health insurance (23.0 miles)
- Thermo Fisher Scientific - life sciences (23.4 miles)
Built in 1985, the property is newer than much of the surrounding housing stock, which skews older. This positioning can be advantageous versus pre-war assets, while still leaving room for targeted capital planning to modernize systems and finishes for today's renter expectations. Neighborhood occupancy sits around the mid-90s and has improved over the past five years, indicating resilient demand and supporting income stability through typical leasing cycles, according to CRE market data from WDSuite.
Within a 3-mile radius, households are projected to increase even as average household size edges down, a pattern that usually broadens the tenant base and supports steady absorption. Rents track as relatively affordable versus local incomes, which tends to aid retention and collections, though it may temper near-term pricing power. With home values in a moderate range for the area and a modest share of renter-occupied units, strategies emphasizing operational execution and selective value-add can align with local demand.
- Neighborhood occupancy around mid-90s with multi-year improvement supports income stability.
- 1985 vintage offers a competitive edge versus older local stock while allowing for practical value-add planning.
- Within 3 miles, projected household growth and smaller household sizes expand the renter pool and aid absorption.
- Rent levels relative to incomes favor retention and collections but may limit near-term pricing power.
- Risks: modest renter concentration and limited dining/retail density can temper lease-up velocity for premium repositionings.