| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 38th | Fair |
| Demographics | 45th | Fair |
| Amenities | 46th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3131 Bellreng Dr, Niagara Falls, NY, 14304, US |
| Region / Metro | Niagara Falls |
| Year of Construction | 1972 |
| Units | 25 |
| Transaction Date | 2005-07-06 |
| Transaction Price | $1,175,000 |
| Buyer | LEWISTON MANAGEMENT GROUP LLC |
| Seller | WHIT-MIL TOWNE APTS INC |
3131 Bellreng Dr, Niagara Falls 25-Unit Multifamily
Neighborhood occupancy is competitive in Buffalo-Cheektowaga and strong on a national basis, supporting leasing stability according to WDSuite’s CRE market data. A moderate share of renter-occupied housing suggests a steady but not saturated tenant base.
Livability is defined by practical conveniences rather than destination amenities. The area shows solid access to daily needs like groceries and a relatively strong coffee/dining footprint, while park and pharmacy options are limited. For investors, this mix points to everyday functionality with selective amenity gaps that may influence resident appeal and retention strategies.
Renter demand looks stable. The neighborhood’s occupancy trends are competitive among 301 Buffalo-Cheektowaga neighborhoods and sit in the top quartile nationally, indicating durable absorption and limited downtime between turns. At the same time, the neighborhood’s renter-occupied share is moderate, signaling a viable tenant pool without heavy reliance on rentals for overall housing.
Affordability dynamics are balanced from an investor’s perspective. Homeownership costs are relatively accessible for the region, which can create some competitive pressure on rent growth. However, rent levels remain generally manageable relative to incomes, which can support retention and smoother renewals. These conditions favor steady operations over outsized pricing power.
Within a 3-mile radius, demographic statistics indicate recent softness followed by an outlook for population and household growth over the next several years, pointing to renter pool expansion and support for occupancy. Household sizes are trending smaller, which can add demand for smaller formats and reinforce consistent absorption. These trends are directional and, based on CRE market data from WDSuite, align with a pragmatic, long-term hold thesis rather than a short-term momentum trade.
Comparable crime data for this neighborhood is limited in the current release. Investors typically evaluate safety by triangulating multiple sources and trend indicators at the neighborhood and metro level. Given the absence of ranked or percentile crime metrics here, a conservative approach is to pair on-the-ground diligence with regional benchmarking to understand how local conditions compare across Buffalo-Cheektowaga.
Nearby corporate offices provide a diversified employment base that supports renter demand and commute convenience, including roles in life sciences, logistics, healthcare, banking, and distribution. The employers listed below reflect the primary drivers of nearby white-collar and service employment likely to influence leasing stability.
- Thermo Fisher Scientific — life sciences (6.7 miles)
- FedEx Trade Networks — logistics (9.9 miles)
- UnitedHealth Group — healthcare services (10.7 miles)
- M&T Bank Corp. — banking (16.8 miles) — HQ
- McKesson — healthcare distribution (22.7 miles)
The investment case centers on occupancy stability, a moderate renter concentration, and day-to-day amenity access that supports workforce housing. Neighborhood occupancy ranks competitively among 301 Buffalo-Cheektowaga neighborhoods and sits in the top quartile nationally, a backdrop that can reduce downtime and underpin consistent cash flows. According to WDSuite’s commercial real estate analysis, rent levels remain broadly manageable relative to incomes, favoring retention and steady renewals, while accessible homeownership may temper outsized rent growth expectations.
Forward-looking demographics aggregated within a 3-mile radius indicate an expanding household base and smaller average household size over the next several years, which can widen the tenant pool and support absorption. Investors should plan for disciplined expense control and targeted amenity or services upgrades to offset selective competitive pressures from ownership options and limited nearby park/pharmacy amenities.
- Competitive neighborhood occupancy supports leasing stability and lower downtime.
- Moderate renter-occupied share suggests a steady tenant base without overreliance on rentals.
- Manageable rent-to-income dynamics favor renewals and resident retention.
- Forecast household growth within 3 miles expands the renter pool and supports absorption.
- Risks: accessible homeownership may constrain rent growth; limited parks/pharmacy nearby; focus on expense discipline.