| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 24th | Poor |
| Demographics | 66th | Good |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 141 Witmer Rd, North Tonawanda, NY, 14120, US |
| Region / Metro | North Tonawanda |
| Year of Construction | 1978 |
| Units | 48 |
| Transaction Date | 1997-12-31 |
| Transaction Price | $700,000 |
| Buyer | HUNT CLIFFORD J |
| Seller | WITMER REALTY INC |
141 Witmer Rd, North Tonawanda Multifamily Investment
Stabilized renter demand supported by manageable rent-to-income levels in the surrounding area, according to WDSuite’s CRE market data. The asset’s suburban positioning offers steady occupancy potential with pragmatic rent management.
Located in suburban North Tonawanda within the Buffalo-Cheektowaga metro, the neighborhood rates below the metro median (ranked 268 among 301 metro neighborhoods), but it provides a practical base for workforce housing. Neighborhood occupancy is reported at 86% with a five-year softening, which points to the importance of disciplined leasing and renewals.
Local amenities are limited at the neighborhood scale, with few cafes, groceries, restaurants, or parks within immediate proximity. For investors, this typically shifts the value proposition toward functionality, parking, and in-unit features rather than walkability, while encouraging targeted marketing around commute convenience and daily-needs access by car.
Vintage matters: the property’s 1978 construction is newer than the neighborhood’s older housing stock (average vintage skews pre‑1950), which can support competitive positioning versus nearby legacy assets. That said, investors should plan for system modernization and selective upgrades to keep the asset relevant to today’s renter expectations.
Tenure and demographics suggest a serviceable renter base. At the neighborhood level, renter-occupied share is comparatively low, so demand will lean on the broader area. Within a 3‑mile radius, renters account for roughly a quarter to a third of housing units, and modest population growth with smaller household sizes indicates a steady flow of households that rely on rental options—supporting occupancy stability and consistent traffic.
Affordability is a relative strength. Neighborhood rent-to-income metrics track favorably versus national peers, which can ease affordability pressure and aid retention. Conversely, relatively accessible ownership costs in this part of the metro may create some competition with for-sale housing, underscoring the need for thoughtful pricing and amenity positioning.
Metro-comparable crime data for this specific neighborhood is not available in WDSuite at this time. Investors typically benchmark property-level experience and management protocols against Buffalo-Cheektowaga regional norms, review recent trend reports, and consider visibility, lighting, and access controls when underwriting.
Practical diligence steps include reviewing recent police blotter summaries at the city level, assessing insurer feedback on claims trends, and comparing incident trends to nearby suburban submarkets rather than relying on block-level claims.
The area draws from a diversified employment base that supports renter demand and commute convenience, including Thermo Fisher Scientifc, UnitedHealth Group, FedEx Trade Networks, M&T Bank Corp., and McKesson.
- Thermo Fisher Scientifc — life sciences (4.5 miles)
- UnitedHealth Group — health insurance/services (4.8 miles)
- FedEx Trade Networks — logistics/trade services (5.0 miles)
- M&T Bank Corp. — banking/corporate offices (11.8 miles) — HQ
- McKesson — healthcare distribution (16.9 miles)
141 Witmer Rd offers a 48‑unit, 1978‑vintage asset positioned to capture steady suburban renter demand. The neighborhood shows limited amenity density and below-median metro rankings, but relative affordability and a broader 3‑mile renter pool provide support for traffic and renewals. According to CRE market data from WDSuite, neighborhood rents align with incomes, which can aid lease retention provided management maintains competitive finishes and operational discipline.
Relative to older local stock, the 1978 vintage can compete on systems and layout, with value‑add potential through targeted upgrades and common‑area improvements. Modest population growth and an expected increase in area households within a 3‑mile radius point to a durable tenant base; however, investors should account for some competition from ownership options and plan marketing around commute convenience and on‑site functionality over walkability.
- Suburban renter demand supported by manageable rent-to-income levels in the area, aiding retention.
- 1978 vintage is newer than much of the nearby housing stock, with clear value‑add and modernization levers.
- Diversified employment within short driving distance supports leasing velocity and renewal stability.
- Risk: limited neighborhood amenities require emphasis on in‑unit quality, parking, and commute access.
- Risk: below‑median neighborhood ranking and accessible ownership alternatives warrant prudent pricing and expense control.