| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 30th | Poor |
| Demographics | 49th | Fair |
| Amenities | 50th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 164 Barnstead Dr, Springville, NY, 14141, US |
| Region / Metro | Springville |
| Year of Construction | 2000 |
| Units | 41 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
164 Barnstead Dr, Springville NY — 41-Unit Investment
Positioned in a suburban pocket of Erie County, this 41-unit asset benefits from a renter base supported by local employment and manageable rent-to-income dynamics, according to WDSuite’s CRE market data. Neighborhood occupancy trends and a stable share of renter-occupied housing suggest steady leasing potential with selective asset management.
Livability fundamentals are mixed but serviceable for workforce housing. Cafes and restaurants score competitive among Buffalo-Cheektowaga neighborhoods (cafe rank 58 of 301; restaurant rank 79 of 301) and sit in the top quartile nationally by density, while groceries are above the metro median (rank 141 of 301; national percentile 62). Park and formal childcare access are limited within the neighborhood ranks (both at the bottom of the metro distribution), which places a premium on on-site amenities and nearby private options for family renters.
Neighborhood occupancy is measured at 85.1% (neighborhood statistic), trending lower over five years, which signals room for thoughtful leasing and retention programs. Renter concentration is 31.7% of housing units (neighborhood statistic), indicating a meaningful—though not dominant—tenant base that can support multifamily demand without relying on transient turnover.
Home values in the neighborhood are moderate for the region, and the value-to-income profile (national percentile 34) suggests ownership is relatively accessible compared with many markets—an investor should expect some competition from for-sale housing. That said, the rent-to-income ratio sits in a stronger national position (70th percentile), indicating lower affordability pressure for renters and potential support for lease retention rather than aggressive concessioning.
Within a 3-mile radius, recent years show increases in population, households, and families, expanding the near-term renter pool; however, published five-year forecasts indicate softer population and household counts ahead, which warrants conservative underwriting of future absorption. Average school ratings hover near the national middle (rank 56 of 301; national percentile ~52), adequate for a suburban workforce profile but unlikely to be a primary draw.
Vintage matters here: the neighborhood’s average construction year is 1922, while the subject property was built in 2000. The newer vintage should provide relative competitiveness versus older local stock; investors should still plan for targeted modernization and system updates typical of a 2000 build to support rent positioning and reduce mid-term capital risk.
Public crime data at the neighborhood level is limited in this dataset, and no comparable rank or percentile is available for this location. Investors should benchmark site-level observations and recent municipal reports against broader Buffalo-Cheektowaga trends to assess perception and leasing impact, focusing on well-lit access, visibility, and property management practices that support resident comfort.
Regional employment is anchored by healthcare, banking, logistics, and life sciences within commuting range, supporting a stable renter base drawn to manageable commute times. Key employers include McKesson, M&T Bank Corp., FedEx Trade Networks, UnitedHealth Group, and Thermo Fisher Scientific.
- McKesson — healthcare distribution (23.7 miles)
- M&T Bank Corp. — banking & financial services (28.1 miles) — HQ
- FedEx Trade Networks — logistics & trade services (31.4 miles)
- UnitedHealth Group — healthcare services (34.9 miles)
- Thermo Fisher Scientifc — life sciences offices (38.3 miles)
This 41-unit property’s 2000 vintage stands out in a neighborhood dominated by older housing stock, creating a relative competitive edge on functionality and curb appeal versus pre-war alternatives. Neighborhood occupancy is measured at 85.1% (neighborhood statistic), with a renter-occupied share near one-third, suggesting demand depth suitable for steady leasing when paired with disciplined operations. According to CRE market data from WDSuite, rent-to-income positioning is favorable nationally, which can support renewal retention and modest pricing power without outsized affordability pressure.
Forward-looking demographics within 3 miles point to more cautious population and household projections, so underwriting should emphasize operational execution over aggressive lease-up assumptions. The ownership landscape appears more accessible than many markets, introducing some competition from for-sale housing; nonetheless, the property’s newer vintage and workforce-oriented positioning can appeal to residents prioritizing convenience and value relative to older alternatives.
- Newer 2000 construction versus a 1920s neighborhood average supports competitive positioning with targeted modernization
- Favorable rent-to-income profile (nationally strong) supports renewal retention and reduces concession pressure
- Renter-occupied share near one-third indicates a meaningful tenant base for stable occupancy with effective management
- Amenity access is solid for dining and daily needs, though limited parks and childcare suggest on-site activation can add value
- Risk: Neighborhood occupancy has trended lower and forecasts indicate softer local population/households—underwrite absorption conservatively