| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Best |
| Demographics | 48th | Fair |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 550 Clarissa St, Rochester, NY, 14608, US |
| Region / Metro | Rochester |
| Year of Construction | 2005 |
| Units | 21 |
| Transaction Date | 2005-06-08 |
| Transaction Price | $60,000 |
| Buyer | DAISY HOUSING DEV FUND C |
| Seller | FREDERICK DOUGLAS COMM DE |
550 Clarissa St Rochester Multifamily Opportunity
Positioned in an inner-suburb pocket with steady renter demand, this 21-unit asset benefits from neighborhood amenities and a high share of renter-occupied housing; based on CRE market data from WDSuite, local fundamentals point to durable leasing with selective operational focus.
The property’s 2005 construction is meaningfully newer than much of the surrounding neighborhood stock (average vintage skews early 1900s). For investors, that typically means stronger competitive positioning versus older assets, while planning for mid-life system updates can preserve rentability and reduce unexpected capital items.
Neighborhood livability supports workforce housing. Grocery and park access rank among the strongest in the Rochester metro (both near the top when measured against 359 neighborhoods), and restaurant density is competitive among Rochester neighborhoods. Café options and pharmacies are thinner locally, which is a manageable trade-off for most renters given the nearby amenity base.
Renter concentration in the neighborhood is higher than most of the metro (rank 32 of 359 for renter-occupied share), indicating a deeper tenant base for multifamily operators. By contrast, neighborhood occupancy is below the metro median (rank 246 of 359), suggesting that proactive leasing and resident retention programs will matter for performance.
Within a 3-mile radius, WDSuite’s CRE market data shows modest recent population growth with a notable increase in households and a trend toward smaller household sizes. This combination typically expands the renter pool and supports occupancy stability. Median home values are mid-range locally, while value-to-income metrics indicate a relatively high-cost ownership market for many households, which can sustain reliance on rental housing and support pricing power when managed carefully.
Safety indicators are mixed when viewed against both the Rochester metro and national benchmarks. The neighborhood’s overall crime standing sits below national midline (around the 41st percentile nationwide), and its metro rank (69 out of 359) indicates higher crime levels than many Rochester neighborhoods. For investors, this calls for emphasis on professional management, lighting, access control, and resident engagement to support retention.
Recent trends are nuanced: property offenses have declined significantly year over year, while violent-offense metrics moved higher. Monitoring trajectory and aligning security measures to resident expectations can help stabilize operations as conditions evolve.
Nearby employers provide a diversified employment base that supports renter demand and commute convenience, including Constellation Brands, Wesco Distribution, Dish Network, the Constellation Brands headquarters, and Xerox.
- Constellation Brands, Inc. — beverage/alcohol (0.7 miles)
- Wesco Distribution — electrical distribution (3.3 miles)
- Dish Network — telecommunications (6.4 miles)
- Constellation Brands — beverage/alcohol (10.9 miles) — HQ
- Xerox Corporation — technology/printing (11.8 miles)
550 Clarissa St offers investors a newer-vintage asset in an inner-suburb location with a high share of renter-occupied housing and strong everyday amenities. According to CRE market data from WDSuite, household counts within 3 miles are expanding as average household size trends lower, which generally enlarges the renter pool and supports occupancy stability. Neighborhood occupancy trails the metro median, so operational execution—marketing, renewals, and turn management—will be key to realizing income consistency.
Built in 2005, the property should compete well against older local stock while benefitting from targeted modernization to enhance renter appeal and support rent growth. Ownership costs relative to income in the area are elevated enough to reinforce demand for multifamily housing, a tailwind for lease retention when paired with reliable management.
- Newer 2005 vintage versus older neighborhood stock supports competitive positioning
- High renter-occupied share indicates depth of tenant base and demand resilience
- Strong nearby amenities (grocery, parks, restaurants) align with workforce housing needs
- 3-mile household growth and smaller household sizes expand the renter pool
- Risks: below-metro occupancy and mixed safety trends require active leasing and security measures