| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Best |
| Demographics | 45th | Fair |
| Amenities | 55th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4500 Dewey Ave, Rochester, NY, 14612, US |
| Region / Metro | Rochester |
| Year of Construction | 1975 |
| Units | 20 |
| Transaction Date | 2014-06-23 |
| Transaction Price | $400,000 |
| Buyer | 4500 DEWEY LLC |
| Seller | HARIM EQUITIES LLC |
4500 Dewey Ave Rochester Multifamily Investment
Neighborhood occupancy remains resilient and renter demand is supported by nearby retail and employment nodes, according to WDSuite’s CRE market data. The area’s fundamentals point to stable leasing with room for value-add upside at the property level.
Located in Rochester’s inner suburbs, the neighborhood scores well on day-to-day convenience with groceries, pharmacies, and dining options close by. Amenity access ranks in the top quartile among 359 metro neighborhoods, and cafes and restaurants are relatively dense for this part of the metro, helping support renter retention and everyday livability.
The property s 1975 vintage is older than the neighborhood s average construction year. For investors, that typically implies planning for exterior and systems upgrades, alongside potential interior renovations to enhance competitiveness against newer stock while targeting rent bumps through modernization.
Renter-occupied share within a 3-mile radius sits near one-third, indicating a meaningful tenant base that supports multifamily demand. At the neighborhood scale, the renter concentration is lower, which can translate into steadier tenancy for well-managed workforce housing and less turnover-sensitive demand.
Within a 3-mile radius, recent demographic patterns show flat-to-mild population movement with income gains and projected growth in households over the next five years. That combination suggests a larger tenant base and supports occupancy stability and leasing velocity as new households seek professionally managed rentals. Home values are comparatively low for the region, which can create some competition from ownership, but also allows well-positioned properties to emphasize value and drive retention through prudent lease management.
Neighborhood-level metrics show occupancy above the metro median and NOI per unit that is competitive among Rochester neighborhoods, based on CRE market data from WDSuite. Average school ratings in the immediate area are weak, which can affect family-oriented demand, but proximity to everyday amenities and employment helps offset this for a broad renter cohort.
Comparable neighborhood crime data is not available in WDSuite for this location. Investors typically benchmark safety by reviewing city and county trend reports and touring at multiple times of day to assess on-the-ground conditions. Positioning and tenant screening policies should be calibrated to broader Rochester trends rather than block-level assumptions.
Nearby corporate offices provide a diversified employment base that supports renter demand and commute convenience for workforce housing, including distribution, consumer brands, technology, and communications employers listed below.
- Wesco Distribution — distribution (5.1 miles)
- Constellation Brands, Inc. — consumer brands offices (7.1 miles)
- Xerox Corporation — technology & services (12.1 miles)
- Dish Network — communications (13.7 miles)
- Constellation Brands — consumer brands (17.7 miles) — HQ
This 20-unit asset benefits from an inner-suburban location with strong everyday convenience and a renter base supported by nearby employers. Neighborhood occupancy trends are solid and NOI per unit performance is strong relative to the metro, according to CRE market data from WDSuite, indicating healthy demand drivers for stabilized operations.
Built in 1975, the property offers value-add potential through targeted system upgrades and interior modernization to compete with newer stock. Within a 3-mile radius, household counts are projected to grow alongside rising incomes, which supports a larger tenant base, steady absorption, and lease retention. While ownership costs in the area are comparatively accessible, professional management and a compelling renter value proposition can sustain pricing power without overextending affordability.
- Inner-suburban location with amenity density that supports renter retention and day-to-day convenience.
- Neighborhood occupancy and NOI per unit trends compare favorably to the metro, supporting stable cash flows.
- 1975 vintage positions the asset for value-add through systems and interior upgrades to enhance competitiveness.
- 3-mile demographics indicate expanding household counts and rising incomes, bolstering the renter pool and leasing velocity.
- Risks: comparatively low school ratings and accessible ownership options may temper family demand and limit aggressive rent pushes.