| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 30th | Poor |
| Demographics | 49th | Fair |
| Amenities | 50th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 366 W Main St, Springville, NY, 14141, US |
| Region / Metro | Springville |
| Year of Construction | 1992 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
366 W Main St Springville Multifamily Investment
Positioned in a suburban pocket of Erie County, this 40-unit asset offers durable renter demand at attainable price points, according to WDSuite’s CRE market data.
Springville’s neighborhood setting balances small-town convenience with access to daily needs. Cafes and restaurants score in the top quartile nationally, while grocery and pharmacy access trend above the national median, signaling practical amenity coverage for residents. Within the Buffalo-Cheektowaga metro, overall amenities are competitive among 301 neighborhoods, supporting day-to-day livability that helps leasing.
Neighborhood occupancy sits below the metro median and in the lower national tiers, indicating that operators may need to emphasize renewal strategy and leasing execution. That said, the neighborhood rent-to-income ratio is comparatively manageable, which can support retention and steady collections when managed proactively.
The housing stock in the surrounding area skews older on average, and this 1992 vintage is newer than much of the local inventory. For investors, that positioning can be a competitive advantage versus prewar product, while still warranting capital planning for systems modernization and light value-add to meet current renter preferences.
Within a 3-mile radius, recent demographic patterns show population and household growth over the past five years, expanding the tenant base. WDSuite’s data also indicates a renter-occupied share around one-third in the neighborhood, suggesting a defined but not dominant renter concentration. Forward-looking projections within the same 3-mile radius point to softer population and household counts by 2028, so underwriting should account for more selective demand and the need for targeted marketing to sustain occupancy.
Home values in the neighborhood are lower than many high-cost metros, which can create some competition with ownership. For multifamily investors, that typically means positioning around convenience, quality, and rental flexibility to maintain pricing power and lease-up velocity, particularly as schools trend near national midrange and amenities remain a pragmatic but not luxury draw.
Comparable neighborhood crime metrics are not available in WDSuite for this location. Investors typically benchmark safety by reviewing city and county trend lines, consulting recent police blotter summaries, and conducting site-level diligence (lighting, visibility, access control) to contextualize property-level risk and resident experience.
Regional employment is anchored by healthcare, logistics, life sciences, and financial services nodes within commuting distance, which supports renter demand and lease retention for workforce-oriented units. Key nearby employers include McKesson, M&T Bank Corp., FedEx Trade Networks, UnitedHealth Group, and Thermo Fisher Scientific.
- McKesson — healthcare distribution (23.6 miles)
- M&T Bank Corp. — financial services (28.0 miles) — HQ
- FedEx Trade Networks — logistics & trade services (31.4 miles)
- UnitedHealth Group — healthcare services (34.9 miles)
- Thermo Fisher Scientifc — life sciences (38.3 miles)
366 W Main St offers a 1992-vintage, 40-unit footprint that is newer than much of the local housing stock, providing relative competitiveness versus older product. Neighborhood amenities are practical and trending above national medians in key daily-needs categories, while rent levels align with incomes to support retention when paired with active lease management. According to CRE market data from WDSuite, neighborhood occupancy trends below metro norms, so an operational focus on renewals, unit turns, and targeted marketing is central to the thesis.
Within a 3-mile radius, recent increases in households have expanded the renter pool, though WDSuite’s forward-looking indicators suggest a flatter demand profile ahead. Ownership remains relatively accessible in this area, so multifamily positioning should emphasize convenience, quality upgrades, and flexible living to mitigate competition from for-sale options and sustain pricing power.
- 1992 vintage offers a competitive edge versus older neighborhood stock, with scope for targeted modernization.
- Daily-needs amenities are solid, supporting resident convenience and lease retention.
- Rent-to-income dynamics are manageable, aiding collections and renewal strategy.
- Operational upside: below-metro neighborhood occupancy suggests value creation through leasing discipline and targeted marketing.
- Risks: projected softer demographics and accessible ownership alternatives may pressure velocity and pricing without active asset management.