| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 46th | Good |
| Demographics | 73rd | Best |
| Amenities | 18th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 120 Jefferson Ave, Fairport, NY, 14450, US |
| Region / Metro | Fairport |
| Year of Construction | 2000 |
| Units | 70 |
| Transaction Date | 1999-04-30 |
| Transaction Price | $120,000 |
| Buyer | JEFFERSON PARK HOUSING DE V FU |
| Seller | PERINTON CHURCHES HOUSING IN |
120 Jefferson Ave Fairport NY Multifamily Investment
Suburban Rochester location with high neighborhood occupancy supports steady leasing, according to WDSuite’s CRE market data, positioning this 70‑unit, 2000‑vintage asset for stable operations.
Fairport is a suburban pocket within the Rochester, NY metro with a B+ neighborhood rating and occupancy near the high end locally. The area ranks competitive among Rochester neighborhoods (103 out of 359) and sits in the top quartile nationally for occupancy, indicating resilient renter demand at the neighborhood level rather than at the individual property.
Livability is driven by access to essentials more than destination amenities: grocery options are present while cafes, parks, and pharmacies are sparse. Average school ratings hover around the middle of the pack (about 3.0 out of 5), which can support retention for family‑oriented renters without commanding premium pricing. Median contract rents in the neighborhood align with middle‑market positioning, and the rent‑to‑income ratio trends lower (around the mid‑teens), suggesting manageable affordability and room for disciplined revenue management.
Within a 3‑mile radius, demographic data show households have inched higher even as population has modestly contracted, implying smaller household sizes and a renter pool that is steady to expanding—favorable for occupancy stability and turnover control. Forecasts point to additional household growth and rising incomes over the next five years, which should support effective rent levels and absorption without relying on outsized in‑migration.
The 2000 construction year is newer than the neighborhood’s older housing stock (average vintage mid‑20th century), giving this property relative competitiveness versus pre‑war/1950s assets. Investors should still plan for modernization of aging systems on a standard timeline, but the vintage provides a head start versus many nearby comparables. Based on commercial real estate analysis from WDSuite, renter‑occupied share in the neighborhood is lower than urban cores, which can mean a smaller but stable tenant base suited to workforce and family renters.
Comparable safety metrics at the specific neighborhood level are not available in the provided dataset. For underwriting, investors often benchmark against metro and national trends and then corroborate with third‑party sources and on‑the‑ground diligence. Use a comparative lens rather than block‑level assumptions and pair data checks with property management insights to gauge tenant retention risk.
Nearby corporate offices provide a diversified white‑collar employment base that supports leasing, commute convenience, and retention for multifamily renters, including roles in life sciences, consumer brands, technology, and telecom that are commonly drawn to Fairport and the east‑side Rochester suburbs.
- Thermo Fisher Scientific — life sciences instruments (3.7 miles)
- Constellation Brands — beverage alcohol (4.0 miles) — HQ
- Xerox Corporation — technology & business services (9.0 miles)
- Dish Network — telecom services (10.1 miles)
This 70‑unit property, built in 2000, benefits from neighborhood occupancy that is strong by metro and national standards and a suburban location that attracts longer‑tenured renters. The vintage is competitive versus the area’s older stock, offering operational advantages with potential value‑add through targeted modernization of systems and finishes as the asset matures.
Households within 3 miles are trending upward despite flat population, pointing to smaller household sizes and a stable renter base. Income growth and moderate rent levels support affordability and lease retention, while proximity to established employers underpins daytime population and commute‑friendly demand. According to CRE market data from WDSuite, neighborhood occupancy trends support steady cash flow assumptions relative to many Rochester submarkets, with amenity‑light surroundings favoring residents prioritizing space and essentials.
- High neighborhood occupancy supports leasing stability and underwriting confidence
- 2000 vintage competes well versus older local stock, with clear modernization pathways
- 3‑mile household growth and rising incomes expand the renter pool and support rent levels
- Proximity to life sciences, consumer brands, and tech offices reinforces tenant demand
- Risks: amenity‑light area and a lower renter concentration may modestly limit demand depth; plan for ongoing system upgrades typical for 2000‑era assets