| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 40th | Good |
| Demographics | 56th | Good |
| Amenities | 42nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1632 Rochester St, Lima, NY, 14485, US |
| Region / Metro | Lima |
| Year of Construction | 1986 |
| Units | 108 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1632 Rochester St, Lima NY Multifamily Investment
Stable renter demand and steady occupancy in Lima’s rural setting point to durable cash flow for a 108-unit asset, according to WDSuite’s CRE market data. Affordability appears manageable relative to incomes, supporting retention and lease-up consistency.
Lima is a rural submarket within the Rochester metro that trends competitive among metro neighborhoods with a B+ neighborhood rating. Amenities are modest within the immediate area—limited retail and pharmacy access locally—so residents often rely on nearby corridors for shopping and services. Parks and childcare access track close to metro norms, and cafes/restaurants are present but not dense.
For multifamily investors, neighborhood occupancy has been stable in the low 90s over the past several years, a sign of resilient renter absorption and consistent renewal potential. Renter concentration at the neighborhood level is roughly one-fifth of housing units renter-occupied, indicating a smaller but defined tenant base typical for workforce housing in lower-density areas.
Within a 3-mile radius, demographics show a small population base with recent softness but signs of re-acceleration in households ahead, alongside smaller average household sizes. This combination can expand the effective renter pool and support occupancy stability. Household incomes have trended upward, and rent levels remain comparatively accessible, keeping rent-to-income near the low-teens and helping manage affordability pressure.
Home values are moderate versus high-cost coastal markets. In practice, this means some competition from ownership, but also a clear role for well-managed rentals that emphasize convenience and value. Based on commercial real estate analysis from WDSuite, investors should expect demand to hinge on commute convenience to larger employment nodes and a focus on pragmatic finishes rather than luxury amenities.
Comparable crime statistics for this specific neighborhood are not available in WDSuite for a defensible comparison. Investors typically benchmark Lima against county and broader Rochester metro trends to gauge relative safety and leasing implications over time.
Prudent underwriting in lower-density areas like Lima often includes tenant screening rigor, exterior lighting/visibility enhancements, and coordination with local public safety updates rather than reliance on block-level figures.
- Dish Network — telecommunications (10.0 miles)
- Constellation Brands — beverage/CPG (11.7 miles) — HQ
- Thermo Fisher Scientific — life sciences/medical equipment (16.5 miles)
- Wesco Distribution — industrial distribution (18.7 miles)
- Xerox Corporation — technology/print services (23.7 miles)
The area’s employment base is anchored by regional corporate offices within commuting range, supporting workforce housing demand and lease retention for renters seeking convenient access to Dish Network, Constellation Brands, Thermo Fisher Scientific, Wesco Distribution, and Xerox.
This 1986-vintage, 108-unit property aligns with renter preferences for practical housing in a lower-density setting, with neighborhood occupancy holding in the low 90s and rent-to-income near the low-teens. The vintage suggests room for targeted value-add and systems modernization to enhance competitive positioning against older stock while sustaining cash flow through operational improvements.
Household incomes in the 3-mile radius have been rising while rents remain comparatively accessible, reinforcing retention and pricing discipline. Looking ahead, a projected increase in local households alongside smaller average household sizes points to a gradually expanding renter pool, which, according to CRE market data from WDSuite, should support steady leasing in the Rochester metro’s more rural nodes.
- Stable neighborhood occupancy and defined renter base support consistent leasing
- 1986 vintage offers value-add and systems upgrades to drive NOI
- Rising local incomes with comparatively accessible rents aid retention
- Proximity to regional employers underpins workforce housing demand
- Risk: modest amenity density and potential competition from homeownership in a moderate-cost market