| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Best |
| Demographics | 45th | Fair |
| Amenities | 55th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1230 Latta Rd, Rochester, NY, 14612, US |
| Region / Metro | Rochester |
| Year of Construction | 1972 |
| Units | 50 |
| Transaction Date | 2008-05-13 |
| Transaction Price | $1,500,000 |
| Buyer | LATTA NORTHTOWNE LLC |
| Seller | NORTHTOWNE ASSOCIATES |
1230 Latta Rd Rochester Multifamily Investment
Neighborhood fundamentals indicate durable renter demand and strong operating performance, according to WDSuite’s CRE market data, with occupancy and NOI per unit trends supportive for long-hold multifamily.
Located in Rochester’s inner suburb near 1230 Latta Rd, the neighborhood scores competitively on day-to-day convenience with groceries, pharmacies, and dining density that ranks in the top quartile among 359 metro neighborhoods. Cafés and restaurants are a relative strength, while parks and childcare access are thinner, which may influence resident mix and amenity programming.
Operating metrics are a core appeal: neighborhood occupancy has trended high versus the metro, and NOI per unit benchmarks sit in the top quartile nationally, based on CRE market data from WDSuite. For investors, this points to supportive leasing conditions and pricing power when paired with disciplined renewals.
Tenure and cost context are balanced. The area shows a moderate share of renter-occupied housing units, suggesting a stable tenant base, while a high-cost-to-rent ratio is not the driver here. Elevated rent-to-income positioning for the neighborhood implies manageable affordability pressure that can aid retention, yet relatively accessible home values by national standards can introduce some competition from ownership. Effective leasing and resident experience become important to maintain occupancy stability.
Within a 3-mile radius, demographic statistics show recent softness in population and household counts but a forward look toward growth through the next cycle, with projections indicating more households and higher incomes by 2028. This points to a potential expansion of the renter pool and supports longer-term occupancy and revenue stability, assuming supply additions remain measured.
Vintage considerations matter. The property’s 1972 construction is older than the neighborhood’s average stock, which suggests planning for capital expenditures and positions the asset for targeted value-add upgrades to remain competitive against newer product.
Schools in the broader area trend below national averages, which is a consideration for family-oriented renters; however, proximity to daily-needs retail and employment access can help sustain demand across workforce and lifestyle segments.
Comparable crime metrics for this neighborhood were not available in WDSuite’s dataset at the time of analysis. Investors typically benchmark neighborhood safety against Rochester metro trends and pair that with property-level measures (lighting, access control, and management presence) to support resident retention and leasing.
Given the lack of a ranked crime score, a prudent approach is to review recent trend data at the metro level, consult local reports, and underwrite to management practices that align with nearby communities showing stable occupancy.
Nearby employers provide a diverse employment base that supports renter demand and commute convenience, including Wesco Distribution, Constellation Brands, Xerox, Dish Network, and Thermo Fisher Scientific.
- Wesco Distribution — electrical distribution (5.0 miles)
- Constellation Brands, Inc. — beverage alcohol (7.0 miles)
- Xerox Corporation — printing & imaging (12.0 miles)
- Dish Network — telecommunications (13.7 miles)
- Thermo Fisher Scientific — life sciences (17.3 miles)
This 50-unit, 1972-vintage asset benefits from strong neighborhood operating fundamentals and everyday retail connectivity. Occupancy in the surrounding area has held at the high end of Rochester’s range, and NOI per unit benchmarks compare favorably at a national level, indicating supportive leasing and renewal dynamics, based on commercial real estate analysis from WDSuite. The older vintage suggests clear value-add pathways via unit and systems modernization to sustain competitiveness versus newer supply.
Demand drivers are diversified: a moderate renter-occupied housing share indicates depth in the tenant base, amenity access is solid for daily needs, and the 3-mile demographic outlook points to growth in households and incomes by 2028—factors that can reinforce occupancy stability and measured rent optimization. Risks include competition from more accessible ownership options and below-average school ratings, warranting a focus on resident experience and targeted capex.
- High neighborhood occupancy and strong NOI-per-unit benchmarks support income stability
- 1972 vintage creates value-add opportunity through unit/interior and system upgrades
- Everyday retail access and proximity to diversified employers aid leasing and retention
- 3-mile projections indicate rising households and incomes by 2028, expanding the renter pool
- Risks: more accessible ownership options and lower school ratings require stronger resident programming and lease management