| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 41st | Good |
| Demographics | 41st | Poor |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 525 Oliver St, North Tonawanda, NY, 14120, US |
| Region / Metro | North Tonawanda |
| Year of Construction | 2002 |
| Units | 24 |
| Transaction Date | 2022-12-14 |
| Transaction Price | $1,264,000 |
| Buyer | MAGNOLIA HOUSING DEVELOPMENT FUND CORP |
| Seller | EPO HARVEY APARTMENTS LP |
525 Oliver St North Tonawanda Multifamily Investment
Neighborhood occupancy is 91.5% with steady renter demand in an amenity-supported inner suburb, according to WDSuite's CRE market data.
Neighborhood and demand fundamentals
Situated in North Tonawanda within the Buffalo-Cheektowaga metro, the neighborhood is competitive among Buffalo-Cheektowaga neighborhoods (ranked 80 out of 301). Amenity access is a relative strength: restaurants and parks density both sit in the low-90s nationally by percentile, with grocery access in the upper-90s. Cafes track in the mid-80s percentile, while formal childcare options are limited, which may influence renter profiles.
Neighborhood occupancy is 91.5% and has improved over the past five years, supporting stable leasing conditions. The local stock skews older (average vintage 1916), positioning a 2002-built asset as newer than much of the competitive set—often translating into fewer near-term capital needs and a more contemporary unit experience, while still warranting periodic system upgrades or light renovations for continued positioning.
Tenure dynamics indicate depth for rentals: approximately 51.5% of housing units are renter-occupied in the neighborhood, which helps sustain the tenant base and supports occupancy stability across cycles. Rent-to-income is around 0.24, suggesting manageable affordability pressure that can aid renewal retention with thoughtful lease management.
Demographics aggregated within a 3-mile radius show modest population growth over the last five years and a projected increase through 2028, with households also expected to rise and average household size to edge lower. This points to a gradually expanding renter pool and steady demand for well-maintained, right-sized apartments. Home values are relatively modest locally, which can introduce some competition from entry-level ownership; consistent unit quality and convenience to amenities can help sustain pricing power and limit move-outs.
Comparable safety statistics are not available for this neighborhood in the current dataset. Without those metrics, investors should benchmark conditions against property operations, local comps, and municipal trend reports rather than relying on block-level anecdotes. When data becomes available, metro-relative ranks (among 301 neighborhoods) and national percentiles will offer clearer context.
Nearby employers provide a diversified white-collar and logistics employment base that supports workforce housing demand and commute convenience, including UnitedHealth Group, FedEx Trade Networks, Thermo Fisher Scientific, M&T Bank Corp., and McKesson.
- UnitedHealth Group — healthcare services (3.0 miles)
- FedEx Trade Networks — logistics & trade (3.9 miles)
- Thermo Fisher Scientific — life sciences (4.9 miles)
- M&T Bank Corp. — financial services (10.2 miles) — HQ
- McKesson — healthcare distribution (15.0 miles)
This 24-unit, 2002-built multifamily asset stands newer than much of the surrounding housing stock, offering competitive positioning versus an older neighborhood baseline. Neighborhood occupancy at 91.5% and a renter-occupied share around 51.5% indicate a deep tenant base and support for stable leasing. According to commercial real estate analysis from WDSuite, amenity density scores strongly for restaurants, groceries, and parks, reinforcing day-to-day convenience that can aid retention.
Demographics aggregated within a 3-mile radius point to modest recent population growth and further gains by 2028, with households projected to increase and average household size trending lower—signals consistent with a gradually expanding renter pool. Local home values are relatively modest, which can create some competition with entry-level ownership; disciplined renewal strategy and sustained unit quality can help maintain pricing power. Given the 2002 vintage, investors may prioritize selective modernization to keep finishes and systems competitive while benefiting from a generally newer platform than nearby alternatives.
- Newer 2002 construction versus an older-area baseline supports competitive positioning and moderated near-term capital needs
- Neighborhood occupancy of 91.5% with a majority renter-occupied housing base supports demand stability
- Strong amenity access (restaurants, groceries, parks) can reinforce retention and leasing velocity
- 3-mile demographics indicate population and household growth, expanding the renter pool
- Risk: relatively modest home values may compete with rentals; focus on unit quality and management to sustain pricing power