| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 40th | Good |
| Demographics | 16th | Poor |
| Amenities | 53rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1075 Lake Ave, Rochester, NY, 14613, US |
| Region / Metro | Rochester |
| Year of Construction | 1975 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1075 Lake Ave Rochester Multifamily Investment
Renter concentration is high in the immediate neighborhood and amenities are competitive for the metro, supporting a stable tenant base, according to WDSuite’s CRE market data. The asset’s 1975 vintage is newer than most nearby stock, offering a positioning edge versus older buildings.
Amenities are a relative strength: cafes, groceries, and parks are competitive among Rochester neighborhoods (e.g., grocery and cafe density ranks within stronger tiers out of 359 metro neighborhoods), while pharmacies and childcare are limited. For residents, this mix supports daily needs and leisure close by, which can aid retention despite some service gaps.
Neighborhood occupancy trends sit below the metro median, but the share of renter-occupied housing is high (over half of units), indicating depth in the tenant pool for a 24-unit asset. Rent levels in the neighborhood are modest and have risen over the last five years; the rent-to-income profile suggests some affordability pressure, so operators should emphasize renewal management and value-focused amenities.
Within a 3-mile radius, demographic data show population and household growth over the last five years with forecasts pointing to further gains through 2028. Household size is edging lower, implying more, smaller households and a broader renter pool over time—favorable for occupancy stability and lease-up velocity for mid-size properties.
Home values in the neighborhood are on the lower side for the region, which can introduce some competition from ownership options. That said, elevated renter concentration and steady in-migration within 3 miles underpin demand for well-managed apartments. The property’s 1975 construction is newer than the neighborhood’s early-century average, suggesting relative competitiveness versus older stock; investors should still plan for system updates and selective modernization to capture renovation upside.
Safety metrics indicate the neighborhood rates below the national median for safety, reflecting a higher crime concentration than many U.S. neighborhoods. Within the Rochester metro (359 neighborhoods), this area trends on the higher side for reported incidents. Recent momentum is constructive: both property and violent offense rates have declined year over year, according to WDSuite’s CRE market data, which is a positive directional signal but warrants continued monitoring.
For underwriting, investors often account for security line items, lighting, and resident engagement to support retention and mitigate risk. Comparing trends to submarket and citywide averages during diligence can help validate assumptions about leasing velocity and achievable pricing.
Nearby corporate offices offer a diversified employment base that supports renter demand and commute convenience, particularly from Wesco Distribution, Constellation Brands, Dish Network, Xerox, and Constellation Brands’ headquarters.
- Wesco Distribution — corporate offices (1.5 miles)
- Constellation Brands, Inc. — corporate offices (2.4 miles)
- Dish Network — corporate offices (9.0 miles)
- Xerox Corporation — corporate offices (11.5 miles)
- Constellation Brands — corporate offices (13.4 miles) — HQ
This 24-unit asset benefits from strong renter concentration in the immediate neighborhood and an amenities mix that is competitive among Rochester submarkets, supporting steady demand. According to CRE market data from WDSuite, neighborhood occupancy runs below the metro median, but the depth of renter-occupied housing and growing 3-mile population and household counts point to a stable tenant base. The 1975 vintage is newer than most nearby early-century stock, creating an edge versus older competitors while leaving room for targeted renovations and building system updates.
Home values locally are more accessible than many metros, which can introduce some competition from ownership; however, modest rents and continued 3-mile household growth should sustain leasing. Affordability pressures implied by rent-to-income ratios suggest an emphasis on retention strategy and value-oriented improvements to support pricing power without elevating turnover risk.
- High renter-occupied share indicates a deep tenant base supporting demand and leasing stability.
- Competitive amenity access (cafes, groceries, parks) enhances livability and renewal potential.
- 1975 vintage is newer than neighborhood average, with value-add potential via targeted upgrades.
- 3-mile population and household growth expand the renter pool and support occupancy.
- Risk: Below-metro occupancy and safety considerations call for prudent underwriting, security measures, and disciplined renewal management.