| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 27th | Poor |
| Demographics | 11th | Poor |
| Amenities | 26th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 399 Colvin St, Rochester, NY, 14611, US |
| Region / Metro | Rochester |
| Year of Construction | 1980 |
| Units | 33 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
399 Colvin St Rochester Multifamily Investment Opportunity
Positioned in a renter-heavy pocket of Rochester, this 33-unit asset offers workforce housing exposure with operational upside validated by WDSuite’s CRE market data.
The property sits in an Inner Suburb neighborhood of Rochester with a renter-occupied share near the top of the metro, indicating a deep tenant base for multifamily operators. Neighborhood occupancy has trailed metro and national norms in recent years, so underwriting should prioritize leasing execution and renewal strategy to sustain stability.
Daily needs are supported by a strong concentration of grocery options (competitive among Rochester neighborhoods and in a high national percentile), while restaurants are reasonably accessible for this submarket. Parks, pharmacies, and cafes are limited nearby, which suggests fewer lifestyle amenities than denser cores and may concentrate demand around value- and convenience-oriented product.
Within a 3-mile radius, population and household counts have risen over the last five years, with forecasts calling for further population growth and a sizable increase in households by the mid-term outlook. A gradual decrease in average household size points to more households forming, which typically expands the renter pool and supports occupancy stability for well-managed assets, according to WDSuite’s commercial real estate analysis.
Home values in the immediate neighborhood are materially lower than national averages, which can introduce some competition from entry-level ownership. Even so, modest rent levels relative to many U.S. markets and the high renter concentration point to durable workforce housing demand. For investors, this translates to emphasis on tenant retention and prudent rent growth aligned with local income trends.
The asset’s 1980 vintage is newer than much of the surrounding housing stock, which skews early 20th century. That positioning can be competitively favorable versus older comparables, though planning for systems updates and targeted renovations remains prudent to sustain leasing velocity and reduce near-term capex surprises.
Safety indicators for this neighborhood trend weaker than national averages and are also below the metro median. Relative to 359 Rochester neighborhoods, the area ranks 89th for crime, placing it in a higher-crime segment locally rather than among the safer communities. Nationally, it tracks in a lower percentile for safety. Investors should factor this into security, lighting, and access-control planning, as well as marketing that emphasizes unit quality and on-site management presence.
Recent data also reflect year-over-year increases in both property and violent offenses at the neighborhood level. While conditions can vary block to block, conservative assumptions around insurance, security enhancements, and potential turnover are appropriate until sustained improvements are evident.
Nearby employment anchors include Constellation Brands, Wesco Distribution, Dish Network, Xerox, and Thermo Fisher Scientific. Their proximity supports commuter convenience and can help broaden the renter pipeline across operations, distribution, media, technology, and life sciences.
- Constellation Brands, Inc. — beverage alcohol offices (1.6 miles)
- Wesco Distribution — electrical distribution (1.9 miles)
- Dish Network — media & telecom offices (7.1 miles)
- Constellation Brands — beverage alcohol (12.5 miles) — HQ
- Xerox Corporation — technology & services (12.5 miles)
- Thermo Fisher Scientific — life sciences offices (13.7 miles)
This 33-unit, 1980-vintage asset in Rochester offers exposure to a renter-dense submarket with steady demand drivers and value-oriented positioning. The neighborhood shows a high share of renter-occupied units, which supports a larger tenant base, while recent neighborhood occupancy softness argues for hands-on leasing, unit turns, and resident services to drive retention. According to CRE market data from WDSuite, nearby amenities are strongest for groceries and everyday necessities, aligning the property with workforce demand rather than lifestyle-driven rent premiums.
Within a 3-mile radius, recent increases in population and households—and forecasts for further growth alongside smaller average household sizes—point to renter pool expansion over the medium term. Low local home values can create some competition with ownership, but also underscore the role of well-managed rental housing. Investors should plan for selective renovations consistent with a 1980 build to sharpen competitive positioning and enhance leasing velocity.
- Renter-heavy neighborhood supports a deep tenant base and consistent leasing prospects.
- 1980 vintage offers a competitive edge versus older local stock, with targeted value-add potential.
- Everyday amenities, especially groceries, align with workforce demand and day-to-day convenience.
- 3-mile radius shows population and household growth, supporting medium-term renter pool expansion.
- Risks: below-median neighborhood safety and softer occupancy require conservative underwriting and proactive management.