| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Best |
| Demographics | 61st | Good |
| Amenities | 62nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 49 Union Square Blvd, North Chili, NY, 14514, US |
| Region / Metro | North Chili |
| Year of Construction | 2004 |
| Units | 50 |
| Transaction Date | 2004-01-20 |
| Transaction Price | $250,750 |
| Buyer | PROVIDENCE UNION PARK HOU |
| Seller | ROCHESTERS CORNERSTONE G |
49 Union Square Blvd North Chili Multifamily Investment
Stabilized renter demand and high neighborhood occupancy support consistent leasing performance, according to WDSuite’s CRE market data. Newer-vintage stock for the area provides competitive positioning versus older properties across the Rochester metro.
North Chili functions as an inner-suburban location within the Rochester, NY metro with a strong livability mix and an A+ neighborhood rating. Neighborhood occupancy is in the top quartile among 359 Rochester neighborhoods, signaling resilient demand that can support lease stability for multifamily owners.
Amenity access is competitive for the metro, with cafes, childcare, and pharmacies performing above national norms, while parks are limited nearby. For investors, this combination favors daily convenience and service access that underpins retention, with the caveat that green space is not a local differentiator.
Within a 3-mile radius, demographics indicate a modest decline in recent population but growth in household counts, pointing to smaller household sizes and a gradually expanding renter pool. Projections over the next five years show increases in both population and households, which can broaden the tenant base and support occupancy continuity.
The neighborhood’s renter-occupied share is meaningful (renter concentration near half of housing units), highlighting depth in the tenant base for multifamily. Median contract rents sit below many coastal markets and the rent-to-income profile is comparatively manageable, which can aid retention and reduce turnover pressure. Ownership is more accessible than in high-cost markets, so pricing power should be balanced against potential competition from for-sale options.
Safety signals are mixed in ways investors should evaluate thoughtfully. Neighborhood crime trends compare favorably to many U.S. areas (upper-quartile performance nationally), while within the Rochester metro the area ranks toward the higher-crime end (10th out of 359 indicates more reported crime versus peers). Recent data also indicates a notable decline in property offenses and generally favorable standing for violent-offense rates nationally, suggesting improving conditions.
Practical takeaways: underwrite property-level security measures, monitor local trendlines, and compare incident data to nearby Rochester submarkets to calibrate retention and operating assumptions.
Nearby corporate nodes provide a diversified employment base that supports renter demand and commute convenience, including telecom, distribution, beverage, life science, and technology offices listed below.
- Dish Network — telecom operations (9.0 miles)
- Wesco Distribution — distribution (9.1 miles)
- Constellation Brands, Inc. — beverage corporate offices (10.6 miles)
- Constellation Brands — beverage corporate offices (18.6 miles) — HQ
- Thermo Fisher Scientific In Fairport Ny — life sciences offices (21.5 miles)
Built in 2004, this 50-unit asset is newer than the neighborhood’s average vintage and should compete well against older stock, while still benefiting from targeted modernization to sustain positioning over the hold. Neighborhood occupancy sits in the top cohort of the Rochester metro, and within a 3-mile radius, household growth alongside smaller average household sizes points to a broader tenant base and supports occupancy stability. According to CRE market data from WDSuite, rent levels align with manageable rent-to-income dynamics, which can aid renewal rates and reduce turnover risk.
Balanced underwriting should acknowledge that ownership costs in this market are comparatively accessible, which may temper near-term pricing power, and that safety ranks less favorably within the metro even as national comparisons are stronger. Overall, the combination of durable demand drivers, commute access to diversified employers, and value-add potential through selective renovations underpin a pragmatic long-term thesis.
- Newer 2004 vintage relative to local stock supports competitive positioning with selective capex for modernization.
- High neighborhood occupancy and expanding household counts within 3 miles support leasing stability.
- Manageable rent-to-income dynamics, per WDSuite data, aid retention and reduce turnover risk.
- Access to diversified employers underpins steady renter demand and commute convenience.
- Risks: relatively accessible ownership options may temper pricing power; metro-relative safety ranking warrants property-level mitigation.