| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 40th | Good |
| Demographics | 56th | Good |
| Amenities | 42nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1992 Lake Ave, Lima, NY, 14485, US |
| Region / Metro | Lima |
| Year of Construction | 1988 |
| Units | 33 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1992 Lake Ave, Lima NY Multifamily Investment
Steady neighborhood occupancy and a modest rent-to-income profile point to durable renter demand, according to WDSuite’s CRE market data. In a rural Rochester metro setting, pricing power will hinge on value-add execution and tenant retention rather than rapid growth.
The property sits in a rural pocket of the Rochester, NY metro with a B+ neighborhood rating (ranked 104 out of 359 metro neighborhoods), which is competitive among Rochester neighborhoods. Amenity density is limited and consistent with rural settings, with sparse pharmacies and modest retail and cafes nearby; investors should underwrite convenience as car-oriented rather than walkable.
Neighborhood occupancy runs at 91.9%, around the national median (53rd percentile), per WDSuite. Renter-occupied housing is a smaller share of the local stock (about one-fifth), which suggests a narrower multifamily tenant base but can support stability where properties are well-managed and sized appropriately.
Within a 3-mile radius, demographic statistics indicate slight population contraction over the past five years with forecasts roughly flat ahead, while household counts are projected to rise. This points to smaller household sizes and a gradual renter pool expansion in unit terms, which can support occupancy stability for well-positioned assets.
Ownership costs are moderate for the region (median home values sit below many coastal markets), and the neighborhood’s rent-to-income ratio is in the top quartile nationally. For investors, relatively low rent burdens help retention and give measured room for upgrades-driven rent premiums without overextending affordability.
Comparable neighborhood safety metrics are not available in the dataset provided. Investors should rely on multiple sources — including municipal reports and recent trend data — to contextualize safety at the neighborhood level and to compare it with broader Rochester and Livingston County patterns.
Nearby corporate offices provide a diversified employment base within commuting distance, supporting renter demand through workforce stability and commute convenience. Notable employers include Dish Network, Constellation Brands, Thermo Fisher Scientific, Constellation Brands, Inc., and Wesco Distribution.
- Dish Network — telecommunications (10.8 miles)
- Constellation Brands — beverage/alcohol — HQ (12.4 miles)
- Thermo Fisher Scientific In Fairport Ny — life sciences (17.2 miles)
- Constellation Brands, Inc. — beverage/alcohol (17.5 miles)
- Wesco Distribution — industrial distribution (19.5 miles)
Built in 1988, the asset likely benefits from durable construction but may trail newer Class B/C competitors on finishes and systems, presenting value-add potential through targeted renovations and modernization. Neighborhood occupancy is around the national median with a relatively low rent-to-income profile that supports retention; according to CRE market data from WDSuite, the area’s renter base is smaller than owner stock, which favors investors who can differentiate on operations and unit quality.
Looking ahead, 3-mile demographics point to flat population but an increase in households, which can translate into a broader tenant base even as homeownership remains accessible in the submarket. Proximity to established employers anchors day-to-day leasing, while prudent capital planning and measured rent steps should balance affordability pressure and sustain occupancy.
- Value-add potential on a 1988 vintage via targeted renovations and systems upgrades
- Occupancy near national norms with low rent-to-income supporting tenant retention
- Employer base within 10–20 miles underpins steady workforce-driven renter demand
- Household growth (3-mile) offsets flat population trends, supporting leasing stability
- Risks: smaller renter concentration and accessible ownership options can temper rent growth