| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Good |
| Demographics | 49th | Fair |
| Amenities | 39th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 149 Alden Rd, Rochester, NY, 14626, US |
| Region / Metro | Rochester |
| Year of Construction | 1972 |
| Units | 120 |
| Transaction Date | 1997-01-02 |
| Transaction Price | $2,410,000 |
| Buyer | RESIDENTIAL REALTY ASSOCI ATES |
| Seller | DIMINO FRANK |
149 Alden Rd Rochester Multifamily Investment
Neighborhood occupancy has been resilient and competitive among Rochester submarkets, supporting stable cash flow potential according to WDSuite’s CRE market data. Renter demand is reinforced by a moderate renter-occupied share and everyday amenities nearby.
Located in an Inner Suburb of Rochester, the neighborhood posts a high occupancy level at the neighborhood scale, landing in the top quartile nationally and competitive among Rochester neighborhoods (127 of 359). That backdrop supports leasing stability for multifamily assets when managed with disciplined renewal strategies.
Renter-occupied housing accounts for an above‑average share of units for the area (77th percentile nationally), indicating a meaningful tenant base for workforce and market‑rate properties. Median contract rents in the neighborhood sit near the U.S. midpoint, which can aid retention and reduce down‑lease risk during softer periods.
Everyday conveniences are adequate: grocery access trends above the national median (71st percentile) and restaurants are comparatively dense for the metro (78th percentile). However, parks and pharmacies are limited within the neighborhood footprint, so on‑site amenities and service coordination can help bolster resident satisfaction.
Within a 3‑mile radius, population has grown modestly in recent years while household counts have increased, expanding the local renter pool. Forward‑looking projections point to additional household growth and smaller average household sizes by 2028, which typically supports demand for rental units and sustained occupancy.
Home values in the neighborhood are lower than national norms, a high‑cost ownership market is not the defining feature here. For investors, this can introduce some competition from ownership options, but a moderate rent‑to‑income profile helps maintain lease retention and pricing flexibility.
Safety indicators are mixed and warrant monitoring. Nationally, the neighborhood reads as safer than average on key measures, with property‑crime levels in a strong position (top decile nationwide) and violent‑crime levels above the national median (around the 70th percentile). Within the Rochester metro, however, the neighborhood ranks 44 out of 359 for crime, indicating higher reported incidents relative to many local peers.
Recent trend data shows a one‑year uptick in violent‑offense rates, even as property‑offense rates have eased. For underwriting, this calls for prudent security planning and resident engagement while recognizing that broader national comparisons remain favorable.
The area’s employment base blends industrial distribution, consumer brands, telecom, and advanced manufacturing—supporting commute convenience and diversified renter demand for nearby multifamily. Employers highlighted below reflect the primary drivers of local leasing stability discussed here.
- Wesco Distribution — distribution (2.6 miles)
- Constellation Brands, Inc. — consumer goods offices (5.6 miles)
- Dish Network — telecommunications (11.0 miles)
- Xerox Corporation — technology & business services (14.1 miles)
- Constellation Brands — consumer goods (16.8 miles) — HQ
- Thermo Fisher Scientific — life sciences offices (17.5 miles)
This 120‑unit property at 149 Alden Rd was built in 1972, making it older than the area’s average vintage and a candidate for targeted value‑add items (exteriors, common areas, energy systems) to strengthen competitive positioning against newer stock. Neighborhood occupancy trends sit in the top quartile nationally and are competitive within the Rochester metro, supporting steady leasing and renewal potential, according to CRE market data from WDSuite.
Within a 3‑mile radius, household counts have been rising and are projected to increase further through 2028, indicating a larger tenant base. The neighborhood’s renter concentration is above the national median, restaurant and grocery access are favorable, and national property‑crime comparisons are strong—factors that can aid retention and day‑to‑day operations. Balanced against these positives are lower local school ratings and signs of a recent uptick in violent‑offense activity, plus relatively accessible ownership costs that can compete with rentals; all are manageable with appropriate unit finishes, amenity programming, and leasing strategy.
- Occupancy backdrop: competitive in metro and top quartile nationally supports revenue stability.
- 1972 vintage: clear value‑add and systems‑upgrade pathway to enhance rent readiness.
- Demand drivers: growing 3‑mile household base and above‑median renter concentration.
- Operations: strong national positioning on property‑crime and solid access to groceries/restaurants.
- Risks to underwrite: recent violent‑crime uptick, lower school ratings, and ownership alternatives competing for some households.