| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 30th | Poor |
| Demographics | 53rd | Fair |
| Amenities | 15th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6061 Edward Ave, Newfane, NY, 14108, US |
| Region / Metro | Newfane |
| Year of Construction | 1992 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
6061 Edward Ave, Newfane NY Multifamily Opportunity
Stable neighborhood occupancy and a modest renter base suggest steady leasing with disciplined rent management, according to WDSuite’s CRE market data.
The property sits in a rural pocket of the Buffalo–Cheektowaga metro where day-to-day conveniences are spread out and most trips are car-based. Walkable amenities are limited, with few cafes, parks, or childcare options nearby, which can influence lease-up velocity and resident expectations for on-site features.
Neighborhood occupancy is 96.0%, which is competitive among Buffalo–Cheektowaga neighborhoods (ranked 108 of 301) and in the top quartile nationally. For investors, this points to generally durable cash flow potential, though leasing may rely more on drive-to demand than foot traffic.
Renter-occupied share in the neighborhood is modest (18.9%), indicating a smaller, but potentially stable tenant pool. This can support retention, but may limit the depth of demand versus more renter-heavy subareas, so consistent marketing and renewals become important to sustain occupancy.
Within a 3-mile radius, the current population has contracted over the past five years while median incomes increased, and households are projected to grow into the next period. This combination suggests a larger tenant base over time and supports occupancy stability if units remain appropriately positioned. Median home values in the neighborhood are on the lower side relative to the nation (around the 21st percentile), which can introduce some competition from ownership; however, very favorable rent-to-income dynamics (99th percentile nationally) support resident retention and measured pricing power.
The average neighborhood construction year skews older, but this property’s 1992 vintage is newer than much of the local stock. That positioning can enhance competitiveness versus older assets, though investors should plan for targeted modernization to keep systems and finishes current.
Comparable neighborhood-level crime metrics are not available in WDSuite for this location. Investors typically contextualize safety by reviewing broader trends for Niagara County and the Buffalo–Cheektowaga metro and by assessing property-specific measures (lighting, access control, and visibility) during diligence.
Regional employers within commuting range support workforce housing demand and leasing stability, led by healthcare, life sciences, logistics, and financial services roles noted below.
- UnitedHealth Group — healthcare insurance (21.8 miles)
- Thermo Fisher Scientifc — life sciences (23.0 miles)
- FedEx Trade Networks — logistics (23.5 miles)
- M&T Bank Corp. — banking (29.0 miles) — HQ
- McKesson — pharmaceutical distribution (30.6 miles)
Built in 1992, this 24-unit asset offers a relative edge versus the area’s older housing stock, with scope for targeted upgrades to bolster competitiveness. Neighborhood occupancy sits in the competitive range within the Buffalo–Cheektowaga metro and in the top quartile nationally, indicating support for steady leasing. According to CRE market data from WDSuite, renter concentration is modest locally, so maintaining renewal rates and thoughtfully pacing rents will be important to sustain performance.
Within a 3-mile radius, incomes have trended higher and households are projected to expand, pointing to a larger tenant base over time. Lower neighborhood home values by national comparison can create some competition from ownership, but very favorable rent-to-income dynamics reinforce resident retention. The rural location means fewer nearby amenities, so on-site features and management execution play an outsized role in absorption and tenant satisfaction.
- 1992 vintage offers value-add and modernization potential versus older nearby stock
- Competitive neighborhood occupancy supports stable cash flow outlook
- Favorable rent-to-income dynamics support retention and measured pricing power
- Projected household growth within 3 miles expands the future renter pool
- Risks: limited walkable amenities and modest renter concentration require disciplined leasing and renewals