| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Good |
| Demographics | 33rd | Poor |
| Amenities | 45th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 140 Park Ave, Brockport, NY, 14420, US |
| Region / Metro | Brockport |
| Year of Construction | 1998 |
| Units | 28 |
| Transaction Date | 1997-11-06 |
| Transaction Price | $75,000 |
| Buyer | BROCKPORT VILLAGE LIMITED PAR |
| Seller | SPURR RICHARD L |
140 Park Ave, Brockport NY — 28-Unit Multifamily Investment
Renter demand looks durable given high neighborhood renter-occupied share and above-metro occupancy, according to WDSuite’s CRE market data. This positioning supports steady cash flow potential while leaving room for selective value-add at a 1998 vintage.
Neighborhood dynamics and livability
The property sits in an Inner Suburb of the Rochester metro with a B-rated neighborhood profile. Neighborhood occupancy is above the metro median and in the upper range nationally, supporting stable leasing conditions. At the neighborhood level, net operating income per unit ranks 5 out of 359 metro neighborhoods — top quartile performance that signals solid operating efficiency locally.
Amenities skew practical rather than trendy. Park access is strong (top quartile among 359 Rochester neighborhoods) and restaurants are also top quartile metro-wide, while grocery options are competitive among Rochester neighborhoods. By contrast, cafes and pharmacies rank at the bottom of the metro distribution, so day-to-day convenience is serviceable but limited in certain categories. These local dynamics typically favor workforce housing with longer stays, which can support retention.
Tenure patterns indicate depth for multifamily. The neighborhood’s renter-occupied share is high (ranked 17 of 359; top quartile in the metro and high nationally), which points to a broad tenant base and demand resiliency across cycles. Median contract rents in the neighborhood sit around the middle of national distributions and have grown over the last five years, suggesting room for continued, measured rent management rather than outsized growth.
Within a 3-mile radius, demographics show a mixed but investable setup: recent population is modestly lower than five years ago, yet household counts have increased and are projected to rise further, implying smaller household sizes and a larger pool of renting households over time. Median household income has trended higher and is projected to continue rising, which supports rent collections and reduces lease-downside risk. In a high-level comparison, home values in the neighborhood are low relative to many U.S. markets; this can create some competition from ownership, but rent-to-income metrics remain manageable for renters, supporting occupancy stability.
Vintage matters: built in 1998, the asset is newer than much of the area’s housing stock (neighborhood average year is older). That positioning can provide an edge versus prewar product, while still warranting capital planning for systems modernization and selective interior refresh to remain competitive.
Safety context
Comparable crime statistics at the neighborhood level were not available in the current release. As a result, we avoid precise claims and rely on broader investment fundamentals — occupancy, renter depth, and income trends — to frame risk. We recommend standard diligence using local law enforcement resources and time-of-day site visits to understand safety trends over multiple periods.
Employment anchors and commute access
Regional employment is supported by distribution, consumer brands, telecom, office technology, and life sciences. Proximity to Wesco Distribution, Constellation Brands, Dish Network, Xerox, and Thermo Fisher can help sustain renter demand through diversified job sources and reasonable commute times.
- Wesco Distribution — distribution (14.2 miles)
- Constellation Brands, Inc. — consumer brands offices (17.0 miles)
- Dish Network — telecom offices (18.1 miles)
- Xerox Corporation — office technology (26.7 miles)
- Constellation Brands — consumer brands (27.1 miles) — HQ
- Thermo Fisher Scientific — life sciences offices (29.1 miles)
Why invest here
This 28-unit, 1998-vintage asset benefits from a high neighborhood renter-occupied share and above-metro occupancy, supporting steady leasing and collections. Neighborhood NOI per unit ranks among the strongest locally, indicating attractive operating benchmarks to underwrite. Within a 3-mile radius, household counts are rising despite softer population totals, expanding the prospective renter pool and supporting occupancy stability. According to CRE market data from WDSuite, amenity access favors parks and restaurants over cafes and pharmacies, aligning the property with practical, workforce-oriented demand.
Relative to older local stock, the 1998 construction should remain competitive with targeted upgrades for systems and interiors. While low regional home values can introduce some competition from ownership, rent-to-income levels and rising median incomes suggest manageable affordability pressure and room for disciplined rent strategies rather than aggressive increases.
- High renter concentration and above-metro occupancy support durable leasing
- Strong neighborhood NOI per unit (top quartile locally) provides attractive operating comps
- 1998 vintage offers competitive positioning versus older stock with selective value-add
- 3-mile household growth and rising incomes expand the tenant base and support collections
- Risks: limited cafe/pharmacy access, modest population softness, and potential competition from ownership options