Class B in a OLD Eastern City

[Sandra Bell]

The property class descriptions often include age of the property as a major factor in determining property class, can you help me understand how much this weights when applying to urban areas or small east coast towns.

For example, I live in the Fingerlakes, in a small town lakefront town that attracts many tourists.   The "city center" is full of beautiful homes, circa 1900, many of which are fully restored and updated.   The school district is very good.   There is a beautiful lake and many nice restaurants, shops, and wineries you can walk to.   Many people come here for weddings.   There are several old fashioned B+Bs, beautiful parks, etc.

Lakefront property is clearly "A" regardless of age, as long as it is nicely renovated/maintained.  I feel the city center property is "A" or "B" depending on the street.   There is almost no subsidized housing in the city proper, the "C" or lower neighborhoods tend to be on the outskirts/outer edges of town.   There is almost 0 crime in the town, many people don't even lock their doors.

I own a multi-family rental in Buffalo NY in what I would also consider a "B" area, regardless of age.   It is an area where ALL the houses are 1900 era, but there are many high end shops, restaurants, bike paths, parks, and gentrification/renovation of homes. People are really into gardening, and there is a tourist garden-walk through this neighborhood each year. There is a huge university and a very large medical campus within 1 mile.   In this area the public schools are not great but many residents use private or charter schools, and many residents are young professionals, having fun with city living before having children.

However, that said, the maintenance can be very costly unless you purchase a home that was already completely gutted/re-habbed.

Am I using the property classification incorrectly?