| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 23rd | Poor |
| Demographics | 40th | Poor |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 45 Ontario St, Lockport, NY, 14094, US |
| Region / Metro | Lockport |
| Year of Construction | 1972 |
| Units | 49 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
45 Ontario St Lockport NY Multifamily Investment
Neighborhood data point to a sizable renter base and steady amenity access, according to WDSuite’s CRE market data, while occupancy trends in the area run below metro norms—favoring careful lease-up planning. This profile can suit value-focused investors prioritizing demand depth over headline rent growth.
Lockport’s inner-suburb location offers everyday convenience with a strong mix of groceries, pharmacies, and dining. Amenity access is competitive among Buffalo-Cheektowaga neighborhoods, with the area placing above the metro median (rank 38 of 301) and top quartile nationally for amenity density. High concentrations of restaurants and cafes support walk-to services that help with tenant retention.
Rents in the neighborhood benchmark on the lower side of the metro, and the local occupancy rate for the neighborhood sits below the metro median (rank 289 of 301), which suggests investors should underwrite to pragmatic lease-up timelines and focus on unit quality and management execution to drive absorption. At the same time, the neighborhood’s renter-occupied housing share is elevated (top quartile nationally; rank 15 of 301 in the metro), signaling a deep tenant base and ongoing demand for multifamily product. These metrics reflect neighborhood conditions, not the property.
Within a 3-mile radius, household counts have inched higher in recent years and are projected to expand further, pointing to a larger tenant base over the medium term. Even with stable population levels, a gradual increase in households and a slight downshift in average household size can support consistent demand for smaller and updated units, aiding occupancy stability.
The building vintage in this area skews older (average year built around the early 1900s), and the subject property’s 1972 construction is newer than much of the surrounding stock. For investors, that typically means relatively competitive positioning versus prewar assets, with potential to unlock additional rent through targeted system upgrades and cosmetic renovations rather than full gut rehabs.
Safety indicators compare differently at metro and national scales. The neighborhood’s crime rank sits toward the higher-crime end within the Buffalo-Cheektowaga metro (rank 30 of 301, where lower ranks indicate more crime), so prudent security and lighting plans are advisable for operations. Nationally, overall safety measures land above the mid-pack, indicating conditions that are competitive versus many U.S. neighborhoods.
Year-over-year signals show mixed momentum, with some violent offense measures improving more slowly than property-related categories. Investors typically address this through on-site management presence, access control, and resident engagement, calibrated to the block-level context during due diligence.
Proximity to regional employers supports workforce housing demand and commute convenience for renters. Key nearby employment nodes include healthcare services, logistics, life sciences, financial services, and pharmaceutical distribution.
- UnitedHealth Group — healthcare services (14.7 miles)
- FedEx Trade Networks — logistics (16.8 miles)
- Thermo Fisher Scientifc — life sciences offices (17.5 miles)
- M&T Bank Corp. — financial services (21.5 miles) — HQ
- McKesson — pharmaceutical distribution (22.4 miles)
45 Ontario St offers a value-oriented entry point in an inner-suburb location with strong everyday amenities and a renter-heavy neighborhood profile. The 1972 vintage is newer than much of the surrounding housing stock, which can translate to moderate capital needs and clear value-add levers (unit upgrades, common-area refresh, and system modernization) to compete against older assets. According to commercial real estate analysis from WDSuite, neighborhood occupancy trends run below the metro median, so upside comes from focused operations and disciplined leasing rather than relying on outsized rent growth.
Within a 3-mile radius, households are trending upward and are projected to expand, pointing to a larger tenant base and supporting occupancy stability. Lower relative home values in the immediate area can create some competition from ownership options, but they also keep rentals positioned as accessible housing—supporting retention when product is well-maintained and professionally managed.
- Renter-occupied housing share is high locally, indicating depth of tenant demand for multifamily units.
- 1972 construction offers value-add potential versus older neighborhood stock, with targeted upgrades to drive rent and retention.
- Amenity density (groceries, pharmacies, dining) is competitive among 301 Buffalo-Cheektowaga neighborhoods, aiding leasing and resident satisfaction.
- Household growth within a 3-mile radius supports a broader renter pool and steadier absorption over time.
- Risk: Neighborhood occupancy trends below the metro median warrant conservative underwriting and strong on-site management.