| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Fair |
| Demographics | 54th | Fair |
| Amenities | 66th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 261 Beattie Ave, Lockport, NY, 14094, US |
| Region / Metro | Lockport |
| Year of Construction | 1973 |
| Units | 56 |
| Transaction Date | 2016-08-01 |
| Transaction Price | $3,320,000 |
| Buyer | --- |
| Seller | --- |
261 Beattie Ave, Lockport NY Multifamily Investment
Neighborhood occupancy is strong with stable renter demand, according to WDSuite’s CRE market data, positioning this 56-unit asset for steady leasing in a workforce-oriented pocket of the Buffalo-Cheektowaga metro.
Located in an Inner Suburb of the Buffalo-Cheektowaga, NY metro, the neighborhood posts a B+ rating and ranks 86th among 301 metro neighborhoods, placing it above the metro median. Occupancy in the neighborhood is high and in the top quartile nationally, supporting consistent leasing and renewal potential. The renter-occupied share is about one-third of housing units, indicating a meaningful tenant base for multifamily while still competing with ownership options.
Livability supports day-to-day convenience: parks and pharmacies benchmark in the 90th percentile nationally, while grocery and restaurant access tracks above national midpoints; café density is thinner. Average school ratings trend below national norms, which is a consideration for family-oriented leasing strategies. Median contract rents in the neighborhood sit below national levels, and rent-to-income measures are in the top decile nationally—favorable for retention and delinquency management from an investor perspective.
Within a 3-mile radius, population has been roughly flat in recent years, but WDSuite data indicates households are increasing with projections for further household growth over the next five years. This points to a larger tenant base and supports occupancy stability even if population growth remains modest. Income profiles in the 3-mile area have trended upward, which can underpin measured rent growth while keeping affordability pressure manageable.
The property’s 1973 vintage is newer than much of the area’s older housing stock. That positioning can be competitive versus pre-war assets, while still leaving room for value-add through common-area upgrades, in-unit updates, and systems modernization to support rent optimization and operating efficiency.
Comparable, verified crime statistics for this specific neighborhood are not available in WDSuite’s dataset for the current release. Investors typically benchmark neighborhood safety using city and county sources and then compare trends to metro averages to gauge leasing and insurance implications. As with any submarket diligence, consider multi-year trends and proximity to well-trafficked corridors rather than block-level anecdotes.
- UnitedHealth Group — healthcare services (14.3 miles)
- FedEx Trade Networks — logistics (16.6 miles)
- Thermo Fisher Scientific — life sciences offices (17.5 miles)
- M&T Bank Corp. — banking & corporate services (20.9 miles) — HQ
- McKesson — healthcare distribution (21.4 miles)
Nearby employers diversify the regional job base and help sustain renter demand through commute convenience, including healthcare, logistics, life sciences, banking, and distribution footprints.
This 56-unit, mid-1970s asset sits in a neighborhood that ranks above the metro median, with high occupancy and a renter base large enough to support steady leasing. According to CRE market data from WDSuite, neighborhood rent levels and rent-to-income dynamics are favorable for retention, while 3-mile household growth projections indicate a gradually expanding renter pool. Day-to-day amenities score well relative to national benchmarks, reinforcing livability for workforce tenants.
The 1973 construction offers a balance of competitive positioning versus older local stock and clear value-add pathways. Targeted renovations and systems updates can enhance rent performance without overextending affordability. Key watch items include below-average school ratings and the need for ongoing capital planning consistent with a mid-20th century vintage.
- Strong neighborhood occupancy and above-median metro ranking support leasing stability
- Favorable rent-to-income dynamics bolster renewal and collections potential
- 3-mile household growth outlook expands the tenant base over the medium term
- 1973 vintage enables value-add via unit upgrades and systems modernization
- Risks: below-average school ratings and mid-1970s building systems require proactive asset management