| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Best |
| Demographics | 49th | Fair |
| Amenities | 31st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5724 Glendale Dr, Lockport, NY, 14094, US |
| Region / Metro | Lockport |
| Year of Construction | 1990 |
| Units | 24 |
| Transaction Date | 2014-05-12 |
| Transaction Price | $775,000 |
| Buyer | CONCORD HUTH LP |
| Seller | PULSAR PROPERTIES LLC |
5724 Glendale Dr, Lockport NY Multifamily Investment
Steady renter demand and suburban fundamentals point to durable operations, according to WDSuite’s CRE market data. Efficiency-leaning units can support an affordability position without depending on aggressive rent assumptions.
Positioned in a suburban Lockport neighborhood that is competitive among Buffalo-Cheektowaga peers (Neighborhood Rating: B; rank 118 of 301), per WDSuite. Neighborhood occupancy is near 91% with a modest five-year uptick, signaling demand resilience at the neighborhood level.
The share of renter-occupied housing sits in the mid-40% range, supporting depth for smaller formats. Within a 3-mile radius, households have grown and are projected to increase further, expanding the tenant base and supporting occupancy stability. Rising 3-mile household incomes reinforce collections and leasing traction.
Amenities are mixed: restaurant access is around the national middle, while café density ranks in the top quartile nationally. Parks, pharmacies, and childcare are limited locally, so residents may rely on nearby corridors. For investors, this suggests serviceable convenience with selective gaps to consider in positioning.
Home values relative to incomes sit at a high national percentile, indicating a high-cost ownership context that often sustains reliance on rental housing. Combined with projected 3-mile population and household growth, the outlook supports a broader renter pool and stable demand for well-managed units.
Current WDSuite releases do not include verified neighborhood crime benchmarks for this location. Investors should compare any future readings to Buffalo-Cheektowaga metro trends and evaluate property-level measures (lighting, access control, management practices) in underwriting.
As with most suburban environments, conditions can vary by block and time of day; triangulate multiple sources and focus on neighborhood-level trends rather than parcel-specific assumptions.
Nearby healthcare, logistics, life sciences, and financial services employers broaden the workforce renter base and support commute convenience—factors that can aid leasing stability.
- UnitedHealth Group — healthcare services (12.9 miles)
- FedEx Trade Networks — logistics (15.0 miles)
- Thermo Fisher Scientific — life sciences (16.0 miles)
- M&T Bank Corp. — financial services (19.5 miles) — HQ
- McKesson — healthcare distribution (20.4 miles)
Built in 1990—slightly newer than the area’s average vintage—this 24-unit asset can remain competitive versus older stock, with targeted modernization offering potential value-add and capital planning clarity. According to CRE market data from WDSuite, neighborhood occupancy trends and a renter-occupied share in the mid-40% range point to a meaningful tenant base for efficiency-oriented units (average size about 539 sq. ft.).
Within a 3-mile radius, recent household growth and projections for further expansion suggest a larger tenant base ahead. A high-cost ownership backdrop in the immediate neighborhood tends to sustain rental reliance, supporting collections and pricing power for well-positioned smaller units. Amenity coverage is adequate but not comprehensive—an underwriting consideration for resident services and marketing.
- 1990 vintage with light renovation upside to enhance competitiveness versus older stock
- Neighborhood occupancy near 91% and mid-40% renter-occupied share support demand depth
- 3-mile household growth and projections indicate a broader tenant base and leasing stability
- High-cost ownership context bolsters reliance on rentals, aiding retention and pricing power
- Risks: amenity gaps (parks/childcare) and small scale (24 units) can affect convenience and operating efficiency