| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Good |
| Demographics | 70th | Best |
| Amenities | 26th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 351 Leicester St, Caledonia, NY, 14423, US |
| Region / Metro | Caledonia |
| Year of Construction | 1988 |
| Units | 25 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
351 Leicester St Caledonia 25-Unit Multifamily Investment
Neighborhood occupancy trends are steady and above the metro median, supporting stable cash flow expectations for this asset, according to WDSuite’s CRE market data. Household growth within a 3-mile radius points to a gradually expanding renter base that can underpin leasing durability over a multi-year hold.
351 Leicester St sits in a rural pocket of the Rochester, NY metro with a B+ neighborhood rating. The area posts above metro median standing (rank 105 of 359 neighborhoods) and a neighborhood occupancy level that is also above the metro median (rank 166 of 359). For investors, this combination suggests demand resilience and fewer lease-up surprises compared with weaker sub-neighborhoods.
Livability signals skew practical rather than amenity-rich. Cafes, groceries, and parks are sparse locally (all ranking near the bottom of the metro’s 359 neighborhoods), but pharmacy access is comparatively stronger (around the 63rd national percentile). Average school ratings trend solid (about 3.5/5 and roughly the 73rd percentile nationally), which can aid longer tenancy for renter households seeking stability.
Renter concentration at the neighborhood level is about one-fifth of housing units being renter-occupied, indicating a smaller but consistent tenant pool; within a 3-mile radius, renter-occupied share is closer to one-quarter. This aligns with workforce housing dynamics more than transient demand, supporting steady absorption rather than volatile turnover.
Affordability is a relative strength. Home values are moderate for the region and rent-to-income is favorable (around the 75th national percentile), which can support retention and predictable collections. Compared with national peers, the neighborhood’s household income sits around the 60th percentile, offering room for modest rent growth while staying competitive against ownership options.
Demographic indicators aggregated within a 3-mile radius show recent population and household growth, with further gains projected over the next five years. A rising household count and a slightly smaller average household size together imply a broader pool of renters, which can reinforce occupancy stability and sustain demand for well-maintained units.
Standardized neighborhood crime metrics are not available for this specific area in the current WDSuite release. Investors typically benchmark safety using regional data, site-specific history, and property operations records to evaluate trend direction and compare against nearby Rochester submarkets.
- Dish Network — telecommunications services (12.2 miles)
- Wesco Distribution — electrical and industrial distribution (17.8 miles)
- Constellation Brands, Inc. — beverage and consumer goods offices (18.0 miles)
- Constellation Brands — beverage headquarters (21.1 miles) — HQ
- Thermo Fisher Scientific — life sciences equipment and services (25.3 miles)
Nearby corporate and industrial employers provide commute-oriented demand that supports workforce housing retention. The list below highlights major employers within driving distance that can help stabilize leasing.
This 25-unit asset offers exposure to a steady, workforce-oriented pocket of the Rochester metro where neighborhood occupancy trends run above the metro median and household growth within a 3-mile radius expands the potential renter pool. According to CRE market data from WDSuite, income levels are competitive versus national peers while rent-to-income remains favorable, supporting collections and tenant retention without over-reliance on aggressive pricing.
Built in 1988, the property may benefit from targeted value-add—common area refreshes, in-unit upgrades, or systems modernization—to enhance competitive positioning against older stock while managing long-term capital planning. Limited neighborhood amenities suggest a pragmatic renter profile, but proximity to regional employers helps anchor demand and leasing stability over a multi-year hold.
- Neighborhood occupancy above the metro median supports stable leasing dynamics
- Expanding households within 3 miles indicate a gradually growing renter base
- Favorable rent-to-income profile aids retention and predictable collections
- 1988 vintage offers value-add/modernization potential to drive NOI
- Risk: Sparse local amenities may temper premium pricing and require stronger property-level offerings