| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Good |
| Demographics | 32nd | Poor |
| Amenities | 42nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1630 Dewey Ave, Rochester, NY, 14615, US |
| Region / Metro | Rochester |
| Year of Construction | 2011 |
| Units | 96 |
| Transaction Date | 2010-08-17 |
| Transaction Price | $75,000 |
| Buyer | 1630 DEWEY AVENUE HOUSING DEVELOPMENT FU |
| Seller | 1630 DEWEY LLC |
1630 Dewey Ave Rochester NY Multifamily Investment
Neighborhood occupancy is strong and supportive of stable leasing in this inner-suburban pocket of Rochester, according to WDSuite’s CRE market data. The property’s 2011 vintage positions it competitively versus older local stock while serving a renter-heavy area.
Located in an Inner Suburb of Rochester, the neighborhood carries a B- rating and posts an occupancy rate that is competitive among Rochester neighborhoods (ranked 114 of 359) and in the upper tier nationally (82nd percentile), based on CRE market data from WDSuite. This level of neighborhood occupancy supports tenant retention and revenue stability for multifamily assets.
Amenity access is mixed: cafes are a local strength (among the strongest concentrations in the metro, 97th percentile nationally) with restaurant density also outperforming typical U.S. neighborhoods (78th percentile). Grocery access is solid for day-to-day needs (ranked 59 of 359 in the metro). By contrast, nearby parks, pharmacies, and childcare options are limited within the immediate area, which may modestly affect lifestyle convenience for some residents.
Renter concentration is high for the neighborhood (about half of housing units are renter-occupied, ranked 37 of 359 in the metro), indicating a deep tenant base and consistent demand for multifamily housing. Median contract rents in the neighborhood remain relatively accessible versus many U.S. areas, which can aid leasing velocity, while a rent-to-income profile around the high-20s suggests manageable affordability pressure and supports lease management strategies.
Within a 3-mile radius, population and households have been growing and are projected to expand further by 2028, pointing to renter pool expansion and support for occupancy. The neighborhood’s housing stock is generally older (average 1923), so a 2011-built asset stands out versus nearby inventory—often reducing near-term capital needs while offering a more modern living experience. School ratings trend at the lower end nationally, which may be less relevant for studios and smaller formats but is a consideration for family-oriented renters.
Safety conditions track around the national midpoint overall (53rd percentile nationally). Within the Rochester metro context, the neighborhood’s crime rank sits on the higher-incident side (ranked 52 out of 359), so prudent security measures and tenant screening remain relevant for asset operations. That said, recent year-over-year trends show notable improvement: both property and violent offense rates have declined faster than most U.S. neighborhoods (improvement ranks in the better tercile nationally), which is a constructive directional signal to monitor.
Proximity to diversified employers supports workforce housing demand and commute convenience, including Wesco Distribution, Constellation Brands, Inc., Dish Network, Xerox Corporation, and Constellation Brands’ headquarters. These nodes help underpin leasing depth and retention for nearby multifamily assets.
- Wesco Distribution — distribution (1.5 miles)
- Constellation Brands, Inc. — beverage/alcohol offices (3.2 miles)
- Dish Network — telecommunications (9.8 miles)
- Xerox Corporation — technology & business services (11.7 miles)
- Constellation Brands — beverage/alcohol — HQ (14.2 miles)
This 96-unit, 2011-built asset benefits from a renter-heavy neighborhood with high occupancy relative to both the metro and nation. The newer vintage compares favorably to a predominantly early-20th-century housing stock nearby, which can enhance competitiveness and reduce near-term capital planning, while still allowing targeted renovations or amenity updates as part of a value strategy. According to CRE market data from WDSuite, neighborhood occupancy sits in the top quintile nationally, reinforcing an income stability thesis when paired with accessible median rents.
Within a 3-mile radius, the area shows population growth today and forecast expansion in both households and incomes by 2028, indicating a larger tenant base and support for pricing power over time. Home values in the immediate neighborhood are comparatively low versus many U.S. markets, which helps sustain reliance on rental housing and can aid retention. Operationally, investors should balance these strengths against uneven amenity coverage and safety considerations by applying disciplined management and resident experience upgrades.
- 2011 vintage stands out versus older local stock, supporting competitive positioning and moderated near-term capex
- High neighborhood occupancy and deep renter concentration support leasing stability and retention
- Growing 3-mile population and households point to a larger tenant base and demand durability
- Accessible rent context relative to income reinforces lease-up velocity with thoughtful revenue management
- Risks: variable safety metrics and limited nearby parks/childcare; address via security, amenity, and service enhancements