| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 38th | Fair |
| Demographics | 45th | Fair |
| Amenities | 46th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9037 Zito Dr, Niagara Falls, NY, 14304, US |
| Region / Metro | Niagara Falls |
| Year of Construction | 1977 |
| Units | 22 |
| Transaction Date | 2013-04-16 |
| Transaction Price | $1,599,000 |
| Buyer | WILLIAM COURT APARTMENTS LLC |
| Seller | NFE WILLIAMS COURT LLC |
9037 Zito Dr Niagara Falls Multifamily Investment
Neighborhood occupancy has been resilient with steady renter demand, according to WDSuite’s CRE market data, supporting income stability for smaller assets. This concise commercial real estate analysis points to durable fundamentals with room for selective value-add.
Situated in Niagara Falls’ suburban/rural edge, the area shows solid renter demand and high utilization of existing housing stock. Neighborhood occupancy trends are competitive among Buffalo-Cheektowaga neighborhoods, ranking above the metro median (rank 70 of 301) and registering in the top quartile nationally by percentile — a constructive backdrop for sustaining lease-up and retention, per WDSuite’s CRE market data.
Livability is serviceable for workforce renters: grocery access aligns with national mid-to-upper percentiles, and cafés score above-average density for a lower-intensity submarket. Parks and pharmacies are limited within the immediate neighborhood footprint, so residents typically rely on nearby corridors for recreation and services — a manageable trade-off that can influence tenant expectations on amenities.
Tenure patterns indicate a moderate renter concentration (neighborhood-level renter-occupied share is around one-quarter), which suggests a stable but not saturated tenant base. Within a 3-mile radius, demographics show a mixed picture: households have recently trended down modestly while forecasts point to growth in both households and the renter share over the next five years. For investors, this implies a gradually expanding renter pool that can support occupancy stability without relying on rapid in-migration.
Home values in the neighborhood are on the lower side relative to national markets, which can create some competition from ownership options. That said, rent levels and a rent-to-income profile near the national mid-range indicate manageable affordability pressure for tenants, which supports retention and reduces turnover sensitivity during lease management.
Comparable safety metrics are not available for this neighborhood in the current WDSuite dataset. Investors should review recent municipal reports and property-level incident histories to understand on-the-ground conditions and trends relative to the wider Buffalo-Cheektowaga region.
Proximity to established corporate employers supports a steady commuting tenant base and underpins leasing durability for workforce housing. Notable nearby employers include Thermo Fisher Scientific, FedEx Trade Networks, UnitedHealth Group, M&T Bank Corp., and McKesson.
- Thermo Fisher Scientific — life sciences (5.2 miles)
- FedEx Trade Networks — logistics (7.9 miles)
- UnitedHealth Group — healthcare & insurance (8.5 miles)
- M&T Bank Corp. — financial services (14.8 miles) — HQ
- McKesson — healthcare distribution (20.6 miles)
Built in 1977, the property is slightly newer than the neighborhood’s average vintage, offering a competitive baseline versus older housing stock while still warranting targeted modernization of building systems and interiors. Based on CRE market data from WDSuite, neighborhood occupancy trends are above the metro median and strong by national comparison, supporting income durability for a 20–30 unit asset profile.
Within a 3-mile radius, forecasts indicate growth in households and a rising renter share, pointing to a larger tenant base over the medium term. Ownership remains relatively accessible locally, which can temper pricing power, but it also encourages renters who value flexibility — a segment that supports steady absorption and retention when units are well-positioned and maintained.
- Strong neighborhood occupancy versus metro and national benchmarks supports leasing stability
- 1977 vintage offers value-add potential through system upgrades and unit renovations
- Projected growth in households within 3 miles expands the renter pool over time
- Proximity to regional employers underpins consistent workforce renter demand
- Risks: limited nearby parks/pharmacies and competition from ownership can cap near-term pricing power