| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Best |
| Demographics | 54th | Fair |
| Amenities | 28th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6012 Broadway St, Lancaster, NY, 14086, US |
| Region / Metro | Lancaster |
| Year of Construction | 2000 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
6012 Broadway St Lancaster NY 24-Unit Multifamily Investment
Neighborhood occupancy trends indicate durable leasing and a renter base near one-third of housing units, according to WDSuite’s CRE market data, while the 2000 vintage offers relative competitiveness versus older local stock.
Lancaster’s neighborhood around 6012 Broadway St carries an A- rating and ranks 72 out of 301 within the Buffalo-Cheektowaga metro, positioning it above the metro median and competitive among Buffalo-Cheektowaga neighborhoods. According to CRE market data from WDSuite, neighborhood occupancy is strong (top quartile nationally), supporting stable collections and retention for workforce-oriented assets.
Renter-occupied share is roughly one-third at the neighborhood level, indicating a meaningful but not saturated renter concentration that supports steady multifamily demand. The local rent-to-income profile is manageable (around a quarter of income), which can aid lease renewals and reduce turnover risk compared with higher-cost submarkets.
Amenities are modestly distributed: parks and cafes score above national midpoints, while grocery access tracks near the national middle. Fewer pharmacies and childcare options nearby signal a thinner daily-needs ecosystem, which investors should consider when positioning for family or senior tenant segments.
Within a 3-mile radius, demographics show population growth over the past five years, a notable increase in households, and projections through 2028 for further population and household expansion. This translates into a larger tenant base and supports occupancy stability and lease-up velocity for well-managed properties.
Home values sit in a mid-range context for the region, and ownership costs are not extreme, which may create some competition from entry-level ownership. Even so, stable neighborhood occupancy and the existing renter base suggest durable demand for well-located rental options.
Comparable crime metrics for this neighborhood were not available in WDSuite’s dataset for the Buffalo-Cheektowaga metro. Investors typically benchmark property-level security measures and local policing trends against city and county reporting to gauge risk and tenant perception.
Prudent underwriting would pair on-site observations (lighting, access control, visibility) with regional crime trend reviews to align operating plans with resident expectations and lender requirements.
Nearby corporate employers provide a diversified white-collar employment base that can support renter demand and retention, including McKesson, M&T Bank Corp., UnitedHealth Group, FedEx Trade Networks, and Thermo Fisher Scientific.
- McKesson — healthcare distribution offices (6.3 miles)
- M&T Bank Corp. — banking & financial services (12.6 miles) — HQ
- UnitedHealth Group — health insurance & services (13.7 miles)
- FedEx Trade Networks — logistics & trade services (14.2 miles)
- Thermo Fisher Scientific — life sciences offices (19.5 miles)
6012 Broadway St is a 24-unit asset built in 2000, newer than the neighborhood’s average vintage. This positions the property competitively against older stock while still warranting routine capital planning for systems nearing mid-life. Strong neighborhood occupancy — competitive within the Buffalo-Cheektowaga metro and top quartile nationally — points to stable rent rolls, with rent-to-income levels that support renewals rather than frequent turnover, based on CRE market data from WDSuite.
Within a 3-mile radius, population and household growth — with further expansion projected — imply a larger tenant base and support for leasing stability. Amenities are serviceable with parks and cafes above national midpoints, though fewer pharmacies and childcare options suggest careful targeting of renter segments. Ownership remains relatively accessible in the area, so the investment thesis leans on operational execution, tenant experience, and product differentiation rather than pricing power alone.
- Newer 2000 vintage versus neighborhood average supports competitive positioning with manageable near- to mid-term capex
- High neighborhood occupancy and moderate rent-to-income profile reinforce retention and cash-flow stability
- Growing 3-mile population and households point to a larger renter pool and steady leasing
- Employer access (healthcare, finance, logistics, life sciences) underpins demand from diverse worker segments
- Risk: amenity depth (pharmacies/childcare) is thinner and accessible ownership can compete with rentals — execution and differentiation remain important