| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Fair |
| Demographics | 42nd | Poor |
| Amenities | 30th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 67 Mill St, Nunda, NY, 14517, US |
| Region / Metro | Nunda |
| Year of Construction | 2008 |
| Units | 25 |
| Transaction Date | 2007-05-04 |
| Transaction Price | $51,000 |
| Buyer | HILLSIDE VILLAGE ASSOC LP |
| Seller | RNVE LLC |
67 Mill St Nunda Multifamily Investment Opportunity
Neighborhood occupancy is about 95% and has trended stable, supporting cash flow resilience for a 25‑unit asset, according to WDSuite’s CRE market data. This area’s renter demand is moderate, so underwriting should assume steady leasing rather than outsized growth.
The property sits in a rural neighborhood within the Rochester, NY metro that carries a C+ neighborhood rating and ranks 214 out of 359 metro neighborhoods. That positioning places it below the metro median overall but still competitive among Rochester neighborhoods on select fundamentals such as occupancy and essential services, based on CRE market data from WDSuite.
Livability is anchored by essentials rather than lifestyle amenities: grocery access is around the national middle and pharmacies track in the upper range nationally, while cafes and parks are limited. Dining density is above national midpoints, which can support day‑to‑day convenience even in a rural setting.
From an investment perspective, the neighborhood’s occupancy sits in the top quartile nationally and is above the metro median (ranked 149 of 359 in the metro), indicating resilient unit absorption and potential lease retention. The share of housing units that are renter‑occupied is roughly one‑third, suggesting a workable tenant base without over‑reliance on transient demand. Rent-to-income levels trend favorable (upper national percentiles), which can support collections and reduce affordability pressure, though it may also temper near‑term rent‑growth expectations.
Home values are relatively low in national context, which means ownership is more accessible than in high‑cost markets. For investors, that implies two-sided effects: steady retention supported by moderate rents and daily‑needs access, but competition from entry‑level ownership options that can cap pricing power. Average school ratings in the area are below national norms, which may have limited impact on Class B/C renter profiles but is a consideration for family‑oriented demand.
Demographic statistics aggregated within a 3‑mile radius show population trending slightly lower in recent years with smaller average household sizes. Forward‑looking projections indicate household counts could increase even if population remains flat to down, which can translate into a broader tenant base and support occupancy stability over time.
Comparable neighborhood‑level crime statistics are not available in WDSuite for this location. Investors typically benchmark safety by reviewing county and metro trends, local law enforcement reports, and property‑level incident histories to contextualize resident experience and potential insurance or security considerations.
Regional employers within commuting distance help stabilize renter demand, with roles spanning telecommunications, beverage production, and distribution. The list below highlights nearby anchors relevant to workforce housing and commute convenience.
- Dish Network — telecommunications (35.9 miles)
- Constellation Brands — beverage production (40.0 miles) — HQ
- Constellation Brands, Inc. — corporate offices (43.0 miles)
- Wesco Distribution — industrial distribution (43.9 miles)
Built in 2008, this 25‑unit asset offers a relatively newer vintage for a rural submarket, which can moderate near‑term capital needs while leaving room for targeted upgrades to drive rent positioning. Neighborhood occupancy is strong and above the metro median, and rent‑to‑income levels indicate manageable affordability pressure—factors that support collections and lease retention, according to CRE market data from WDSuite.
Demographic statistics within a 3‑mile radius show modest population decline but a shift toward smaller households, with projections indicating more households over the next few years. That pattern can expand the renter pool even without net population gains. Offsetting considerations include limited lifestyle amenities, below‑average school ratings, and a more accessible ownership market that can cap rent growth. Overall, the thesis leans on occupancy stability, essential‑services access, and selective value‑add to enhance performance.
- 2008 vintage offers lower near‑term capex risk with value‑add optionality
- Above‑median metro occupancy supports leasing stability and collections
- Favorable rent‑to‑income dynamics aid retention and revenue consistency
- 3‑mile data suggest more households and smaller sizes, expanding the tenant base
- Risks: limited amenities, lower school ratings, and ownership competition may temper rent growth