| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Good |
| Demographics | 60th | Good |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3580 Sowles Rd, Hamburg, NY, 14075, US |
| Region / Metro | Hamburg |
| Year of Construction | 1972 |
| Units | 63 |
| Transaction Date | 2010-04-21 |
| Transaction Price | $2,575,000 |
| Buyer | HAMBURG HEIGHTS LLC |
| Seller | BLAIR HOUSE HOLDING LLC |
3580 Sowles Rd Hamburg NY Multifamily Value-Add Opportunity
Neighborhood occupancy sits at 93.7%, suggesting steady leasing conditions for a 63-unit asset, according to WDSuite’s CRE market data. Positioning and operations will matter given suburban amenity density is limited, but stable renter demand supports consistent performance.
This suburban location in the Buffalo-Cheektowaga metro trades walkable retail for space and neighborhood stability. Amenity density is limited locally (few cafes, groceries, restaurants, and parks), so residents are more car-reliant. That pattern is common for outer-ring submarkets and can support quiet, residential tenancy but places a premium on on-site amenities and efficient property management to aid retention.
Schools rate strongly for the area (average rating near the top quartile nationally and ranked 11th among 301 metro neighborhoods), which can enhance family appeal and length of stay. Neighborhood occupancy is 93.7%, above many national suburban averages, indicating tenants are generally staying housed even as turnover cycles normalize.
Vintage is a differentiator: the property was built in 1972 while the neighborhood’s average construction year skews newer (1994). Older stock typically requires capital planning for systems, interiors, and common areas, but it also presents value-add potential to close the feature gap versus newer competitive sets.
Tenure patterns suggest a moderate renter base: about 21.5% of local housing units are renter-occupied. For investors, that indicates a defined but not saturated pool of renters, where demand stability is supported by households that prefer multifamily, while pricing power may be more sensitive to quality differentiation and service.
Within a 3-mile radius, population and households have grown in recent years, with further gains projected, pointing to a larger tenant base over the next cycle. Median home values in the neighborhood sit below national benchmarks (31st percentile), which can make ownership more attainable for some households; in practice, that means rental demand is durable but rent growth and retention hinge on value, convenience, and well-executed renovations rather than scarcity. The current rent-to-income ratio of 0.22 indicates manageable affordability pressure, supporting lease stability with prudent renewal management.
Investors often benchmark safety alongside school strength and occupancy trends. Current WDSuite data for this neighborhood does not include a comparable metro crime rank or national percentile, so on-the-ground diligence (property operations history, lighting, access control, and local police/neighborhood watch context) is recommended to complement market-level analysis.
A practical approach is to evaluate multi-year incident trends for the broader submarket, compare to peer suburban neighborhoods in the Buffalo-Cheektowaga metro, and align property-level measures (CCTV coverage, entry controls, and resident engagement) with tenant retention goals.
The area draws from a diverse regional employment base that supports renter demand through commute convenience, notably in healthcare, finance, logistics, and life sciences. Nearby employers include McKesson, M&T Bank Corp., FedEx Trade Networks, UnitedHealth Group, and Thermo Fisher Scientifc.
- McKesson — healthcare distribution (9.1 miles)
- M&T Bank Corp. — finance (9.5 miles) — HQ
- FedEx Trade Networks — logistics (12.7 miles)
- UnitedHealth Group — healthcare services (16.8 miles)
- Thermo Fisher Scientifc — life sciences (19.4 miles)
3580 Sowles Rd offers an older-vintage, 63-unit footprint in a suburban Hamburg location where neighborhood occupancy of 93.7% points to consistent leasing, based on CRE market data from WDSuite. The 1972 construction positions the asset for targeted value-add—modernizing interiors and common areas can strengthen competitiveness against the metro’s newer average stock while maintaining a rent-to-income profile that supports retention.
Tenant demand is reinforced by solid schools (top quartile nationally) and population and household growth within a 3-mile radius, while a moderate renter-occupied share suggests depth without oversaturation. Balanced underwriting should account for limited immediate amenity density and the need for ongoing capital planning, especially to meet expectations set by 1990s-era comparables and newer builds.
- Stable neighborhood occupancy supports consistent leasing
- 1972 vintage creates clear value-add and modernization pathways
- Strong school ratings and growing 3-mile households bolster renter demand
- Rent-to-income around 0.22 suggests manageable affordability pressure and renewal potential
- Risks: limited walkable amenities and capital needs to compete with newer stock