| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 39th | Fair |
| Demographics | 65th | Good |
| Amenities | 91st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 296 Main St, Tonawanda, NY, 14150, US |
| Region / Metro | Tonawanda |
| Year of Construction | 1987 |
| Units | 24 |
| Transaction Date | 2012-12-27 |
| Transaction Price | $1,120,000 |
| Buyer | 296 MAIN GROUP LLC |
| Seller | 296 MAIN LLC |
296 Main St, Tonawanda NY Multifamily Opportunity
Positioned in an inner-suburb with stable renter demand and strong amenity access, this asset benefits from neighborhood occupancy trends that have held firm, according to WDSuite’s CRE market data. The location favors steady leasing and retention dynamics relative to broader metro patterns.
The property sits in an A+–rated neighborhood within the Buffalo-Cheektowaga metro, ranked 12 out of 301 neighborhoods — a top-tier position locally. Amenity density is a clear strength: restaurants and daily-needs retail score in the top quartile nationally, supporting convenience-driven leasing and resident satisfaction. This combination is competitive among metro submarkets and aligns with investor focus on walkable, service-rich areas.
Neighborhood occupancy is above the metro median and sits in the top quartile nationally, indicating durable renter demand rather than transient spikes. In our commercial real estate analysis, that backdrop points to firmer rent rolls and fewer downtime gaps between turns, particularly for well-maintained properties that match local expectations.
Within a 3-mile radius, demographics show modest population growth and a projected increase in households, implying slightly smaller household sizes and a broader tenant base over time. Renter-occupied share within this radius is roughly one-third of housing units, suggesting a meaningful depth of multifamily demand without overreliance on any single renter segment.
Home values in this neighborhood are lower than national norms, which can increase competition from ownership options at some price points. For investors, this typically translates into a leasing focus on value, management execution, and product differentiation; conversely, more accessible ownership can moderate turnover pressures by anchoring residents who prefer the flexibility and lower upfront costs of renting.
Neighborhood-level crime metrics for this area are not available in the provided WDSuite dataset, so comparative safety insights should be validated through current local sources and municipal reports. Investors commonly benchmark against metro and county trends, inspect recent year-over-year changes, and align operating practices (lighting, access controls, and resident policies) with standard multifamily risk management.
Nearby employers provide a diversified white-collar and logistics employment base that supports renter demand and commute convenience. Key nodes include UnitedHealth Group, FedEx Trade Networks, Thermo Fisher Scientifc, M&T Bank Corp., and McKesson.
- UnitedHealth Group — healthcare services (1.5 miles)
- FedEx Trade Networks — logistics & trade services (2.3 miles)
- Thermo Fisher Scientifc — life sciences offices (4.6 miles)
- M&T Bank Corp. — banking & financial services (8.5 miles) — HQ
- McKesson — healthcare distribution (13.6 miles)
Built in 1987, this 24‑unit asset is newer than much of the surrounding housing stock, positioning it competitively versus older inventory while leaving room for targeted system updates or light renovations to support rent and retention. Neighborhood occupancy trends are above the metro median and strong by national standards; based on CRE market data from WDSuite, that backdrop supports stable leasing and reduces exposure to prolonged vacancy.
Within a 3-mile radius, population is growing modestly and households are projected to expand faster than population, indicating a larger tenant base and sustained demand for rental units over the medium term. Lower ownership costs relative to national benchmarks can introduce competition from for-sale alternatives, but thoughtful positioning, consistent operations, and amenity-driven value can help maintain pricing power.
- 1987 vintage offers competitive positioning versus older neighborhood stock, with selective upgrade potential.
- Strong amenity access and above-median neighborhood occupancy support leasing stability.
- 3-mile radius shows modest population growth and faster household gains, expanding the renter pool.
- Proximity to diversified employers underpins demand from a commuting workforce.
- Risks: competition from homeownership options and small-asset scale; mitigate via product differentiation and disciplined operations.