| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Best |
| Demographics | 67th | Best |
| Amenities | 51st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6215 Tonawanda Creek Rd, Lockport, NY, 14094, US |
| Region / Metro | Lockport |
| Year of Construction | 1989 |
| Units | 24 |
| Transaction Date | 1996-03-27 |
| Transaction Price | $215,000 |
| Buyer | LOUIS POLITO |
| Seller | HAMMOND DOUGLAS C |
6215 Tonawanda Creek Rd, Lockport NY — 24-Unit Suburban Multifamily
Neighborhood occupancy is competitive locally and in the top quintile nationally, pointing to steady renter demand; based on CRE market data from WDSuite, pricing still sits within practical affordability bands, supporting retention.
The property sits in a suburban pocket of the Buffalo–Cheektowaga metro where neighborhood occupancy is 96.4% and ranks 94 out of 301 neighborhoods — competitive among Buffalo–Cheektowaga neighborhoods and in the top quintile nationally, according to WDSuite’s CRE market data. This backdrop supports lease-up and renewal stability for a 24-unit asset.
Renter-occupied housing represents roughly 27%–28% of units in the immediate area, indicating a defined but not saturated renter base. That mix typically supports steady leasing without overreliance on concessions, while still allowing landlords to differentiate through renovations and management quality.
Within a 3-mile radius, households have increased while average household size has edged lower, and WDSuite data points to modest population growth today with a projected expansion in households over the next five years. These trends imply a larger tenant base and more renters entering the market, which supports occupancy stability.
Amenity access skews limited for cafes and parks, with moderate coverage for groceries and pharmacies. For investors, this typically means a quiet residential setting where on-site features and convenient parking can be differentiators versus amenity-rich urban supply. Median home values are elevated relative to some upstate markets, which can reinforce reliance on rental options; however, ownership remains attainable enough that single-family competition should be monitored for its potential to temper rent growth.
Comparable neighborhood safety data were not available in this release. Investors should benchmark conditions against nearby Buffalo–Cheektowaga suburbs using public sources and management feedback to assess how safety perceptions may influence leasing velocity and retention. Avoid block-level conclusions; evaluate multi-year trends and property-level incident history where available.
The employment base within commuting range includes healthcare, logistics, life sciences, and financial services employers, supporting a diversified renter pool and commute-friendly demand for workforce housing from UnitedHealth Group, FedEx Trade Networks, Thermo Fisher Scientific, M&T Bank, and McKesson.
- UnitedHealth Group — healthcare services (10.6 miles)
- FedEx Trade Networks — logistics & trade services (13.0 miles)
- Thermo Fisher Scientifc — life sciences (14.8 miles)
- M&T Bank Corp. — financial services (16.5 miles) — HQ
- McKesson — healthcare distribution (16.7 miles)
Built in 1989, the asset is slightly older than the neighborhood average vintage, creating potential for targeted value-add — updates to interiors, common areas, and building systems can sharpen competitive positioning against early-1990s stock while requiring disciplined capital planning. Neighborhood occupancy ranks competitive in the Buffalo–Cheektowaga metro and sits in a high national percentile, supporting lease stability; according to CRE market data from WDSuite, rent-to-income levels indicate room to manage rents within practical affordability bands.
Within a 3-mile radius, households are growing with projections for further expansion, signaling renter pool growth that can support steady absorption. Ownership costs are not extreme by national standards, so single-family alternatives may compete at the margin — an argument for emphasizing operational quality and renovated finishes to maintain pricing power.
- Competitive neighborhood occupancy and top-quintile national standing support leasing stability.
- 1989 vintage offers value-add potential with targeted interior and systems upgrades.
- 3-mile household growth points to a larger tenant base and durable demand.
- Rent-to-income levels suggest retention-friendly affordability with managed pricing headroom.
- Risk: limited nearby lifestyle amenities and accessible homeownership options could temper rent growth, requiring strong operations to sustain performance.