| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 31st | Poor |
| Demographics | 42nd | Poor |
| Amenities | 55th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 12 Mariano Pkwy, Derby, NY, 14047, US |
| Region / Metro | Derby |
| Year of Construction | 2002 |
| Units | 54 |
| Transaction Date | 2015-06-06 |
| Transaction Price | $3,550,000 |
| Buyer | Tzetzo Companies |
| Seller | RMR Development LLC |
14 Mariano Pkwy, Derby NY Multifamily Investment
2002 vintage with larger unit sizes positions this 54-unit asset to compete well in an inner-suburb renter market where neighborhood occupancy has been steady, according to WDSuite’s CRE market data. With a low rent-to-income profile in the surrounding area, operators may balance retention with measured rent growth while monitoring local ownership alternatives.
Located in Derby within the Buffalo–Cheektowaga metro, the property sits in an Inner Suburb neighborhood rated B- that is competitive among Buffalo–Cheektowaga neighborhoods for daily needs. Amenity access trends are mixed: restaurants score in the stronger cohort, childcare and pharmacies are comparatively well-represented, while cafes and parks are sparse. In metro terms, the amenity composite ranks 75 out of 301 neighborhoods (top quartile among 301), signaling practical convenience without urban density.
The asset’s 2002 construction is materially newer than the neighborhood’s average 1950s housing stock. For investors, that newer vintage can reduce near-term capital exposure versus older comparables, while still leaving room for targeted modernization to support rent positioning.
Neighborhood multifamily conditions show occupancy around the low-90s and a relatively small share of renter-occupied housing units. A lower renter concentration can mean a thinner immediate tenant base, but it may also support stability for quality product that captures demand from households preferring professionally managed housing. Median household incomes in the neighborhood sit above many national peers, and median contract rents trend moderate, suggesting headroom to manage renewals prudently rather than relying on outsized rent steps.
Demographic indicators are aggregated within a 3-mile radius. Recent years show modest population softening, but WDSuite’s outlook points to growth in total population and a notable increase in households alongside smaller average household size. For multifamily, more households with fewer persons per home typically expand the renter pool and can support occupancy stability over time.
Ownership costs in the neighborhood are comparatively accessible by national standards, which can introduce competition from for-sale options. That context places a premium on property operations, maintenance quality, and amenity programming to sustain leasing velocity and retention.
Comparable neighborhood crime metrics were not available in WDSuite for this location at the time of publication. Investors typically benchmark safety using city and county trend data and property-level history, and may consider management practices such as lighting, access control, and coordination with local authorities as part of risk assessment.
Regional employment anchors within commuting distance include banking, logistics, healthcare, and life sciences employers, supporting workforce housing demand and commute convenience for residents at this Derby location. The list below reflects nearby offices and a headquarters presence.
- M&T Bank Corp. — banking HQ (14.7 miles) — HQ
- McKesson — pharmaceuticals distribution (17.0 miles)
- FedEx Trade Networks — logistics (17.1 miles)
- UnitedHealth Group — healthcare services (21.8 miles)
- Thermo Fisher Scientific — life sciences (22.4 miles)
This 54-unit, 2002-built asset with larger average floor plans is positioned to outperform older local stock while requiring selective modernization rather than heavy capital turnover. Neighborhood occupancy trends in the low-90s, moderate contract rents, and a low rent-to-income profile indicate room to prioritize renewal retention and measured rent setting, according to CRE market data from WDSuite. Over the next few years, a projected increase in households within a 3-mile radius and smaller household sizes point to a broader tenant base that can support steady absorption.
Balanced against those positives, comparatively accessible ownership options and a smaller renter-occupied share in the neighborhood require disciplined operations, competitive amenities, and targeted value-add to maintain leasing velocity. Employment access to Buffalo’s established corporate base offers an additional demand anchor.
- 2002 vintage and larger unit sizes reduce near-term capital needs and support competitive positioning versus older comparables.
- Neighborhood occupancy in the low-90s and moderate rents support renewal-driven performance with disciplined pricing.
- 3-mile outlook shows more households and smaller household size, expanding the renter pool and supporting stable absorption.
- Proximity to major employers underpins workforce demand and commute convenience.
- Risks: accessible ownership and a lower renter concentration heighten competition; operations and amenity strategy are key.