| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Good |
| Demographics | 70th | Best |
| Amenities | 27th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2827 Transit Rd, Elma, NY, 14059, US |
| Region / Metro | Elma |
| Year of Construction | 1985 |
| Units | 26 |
| Transaction Date | 1996-11-25 |
| Transaction Price | $175,000 |
| Buyer | TRANSIT ROAD ENTERPRISES LLC |
| Seller | PMF NY LLC |
2827 Transit Rd, Elma NY — 26-Unit Investment
Suburban fundamentals point to steady renter demand supported by high local incomes and neighborhood occupancy around metro norms, according to WDSuite’s CRE market data. The asset’s mid-1980s vintage suggests competitive positioning with targeted upgrades to drive returns.
Elma’s suburban setting offers a balanced demand profile for workforce and professional tenants. Neighborhood occupancy trends are broadly in line with national norms, and median household incomes rank among the stronger areas locally, supporting rent collections and retention. Median advertised rents in the neighborhood sit near the middle of the Buffalo-Cheektowaga market, per WDSuite’s commercial real estate analysis.
Amenities are mixed: cafe density is competitive among Buffalo-Cheektowaga neighborhoods (ranked 107 out of 301), while park and pharmacy access are limited within the neighborhood cluster. Schools are a relative strength, with the neighborhood’s average school rating in the top quartile nationally and ranking 11 out of 301 metro neighborhoods, which can support family-oriented renter demand.
Within a 3-mile radius, demographic data indicate modest population growth with a stable age mix and an owner-leaning housing stock. The renter-occupied share is roughly one-quarter of units, which points to a thinner but steady tenant base; investors should underwrite marketing reach and leasing cadence accordingly. Elevated local household incomes and a rent-to-income profile that is favorable by national standards suggest room for disciplined rent optimization without overextending affordability.
Home values are comparatively elevated for the metro, which can reinforce reliance on rental housing for some households; however, ownership remains attainable relative to higher-cost markets. This mix implies generally stable leasing with occasional competition from entry-level ownership, warranting attention to value and resident experience to sustain pricing power.
The asset’s 1985 vintage is slightly newer than the neighborhood average (1980). Investors can position the property competitively versus older stock with selective renovations and system updates, while planning for mid-life capital items typical for this era.
Compared with the region, the neighborhood ranks 22 out of 301 Buffalo-Cheektowaga neighborhoods on overall crime, placing it in the top quartile locally. Nationally, safety metrics compare favorably as well: property offenses are in a high safety percentile, and the most recent year shows a notable improvement. Violent offense levels are also better than national averages, though recent year-over-year trends indicate some volatility that merits monitoring.
For investors, the takeaway is a generally favorable safety profile relative to metro and national benchmarks, with attention to recent trend noise rather than any block-level conclusions. These dynamics typically support demand from risk-aware renters and can aid retention.
Proximity to regional employers supports weekday leasing stability and commute convenience for residents. Notable nearby employment nodes include healthcare, logistics, financial services, and life sciences offices listed below.
- McKesson — healthcare distribution offices (1.8 miles)
- M&T Bank Corp. — financial services (9.5 miles) — HQ
- FedEx Trade Networks — logistics & trade (12.1 miles)
- UnitedHealth Group — healthcare services (13.3 miles)
- Thermo Fisher Scientifc — life sciences (18.5 miles)
This 26-unit property offers a straightforward value-add path in a suburban neighborhood with incomes that support rent collections and retention. Occupancy in the surrounding neighborhood sits near national norms, and schools rate in the top quartile nationally—both constructive for long-term leasing depth. Based on CRE market data from WDSuite, rent levels are competitive for the metro, suggesting potential to enhance revenue through targeted interiors, amenities, and operational execution.
Built in 1985, the asset is slightly newer than the neighborhood’s average stock, providing a competitive edge versus older comparables while still warranting planning for mid-life systems and common-area updates. The 3-mile trade area skews more owner-occupied, indicating a narrower but stable renter pool; underwriting should reflect steady demand with measured absorption expectations and attention to resident experience to reduce move-outs to ownership.
- Suburban location with household incomes that support rent collections and leasing stability.
- 1985 vintage enables value-add through targeted interiors and system upgrades versus older local stock.
- School quality ranks in the top quartile nationally, supporting family-oriented renter demand.
- Proximity to regional employers across healthcare, logistics, finance, and life sciences supports weekday demand.
- Risks: owner-leaning tenure and limited nearby parks/pharmacies may require stronger resident programming to sustain retention.