| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Best |
| Demographics | 48th | Fair |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 615 Clarissa St, Rochester, NY, 14608, US |
| Region / Metro | Rochester |
| Year of Construction | 1999 |
| Units | 81 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
615 Clarissa St Rochester Multifamily Investment
Located in an Inner Suburb pocket with a renter-occupied majority at the neighborhood level, this 81-unit asset benefits from durable tenant depth and everyday convenience, according to WDSuite’s CRE market data.
This Inner Suburb neighborhood is rated A and ranks 51 out of 359 metro neighborhoods, placing it in the top quartile locally and signaling competitive fundamentals for multifamily. Neighborhood occupancy trends sit below the metro median, but renter-occupied housing accounts for a majority of units, which supports a deeper leasing pool and contributes to steadier absorption during typical turnover cycles.
Daily-needs access is a relative strength: grocery and park density both rank near the top of the metro (each 5th of 359), and restaurants are also competitive (25th of 359). Cafes and pharmacies are less concentrated in the immediate area, so residents rely more on nearby submarkets for those services. Compared with neighborhoods nationwide, amenities score above average, reinforcing location convenience rather than destination retail.
Home values in this neighborhood are elevated relative to local incomes (above the metro median by rank), which tends to reinforce reliance on rental options and can aid pricing power and retention for well-managed properties. Rent-to-income levels are moderate by national standards, suggesting scope for disciplined revenue management without overreliance on aggressive rent lifts.
Within a 3-mile radius, recent population was broadly stable with modest growth in households and families, and WDSuite’s CRE market data points to further household expansion over the next five years. A high neighborhood renter concentration (above metro median by rank) and projected household growth indicate a larger tenant base over time, which can support occupancy stability even as new supply competes for lease-up.
Safety indicators are mixed. The neighborhood’s crime rank is 69 out of 359 metro neighborhoods, which is below average for the metro and roughly below the national midpoint by percentile. For investors, this places the area in a more active public-safety environment than many Rochester neighborhoods, warranting routine operational measures such as lighting, access control, and resident engagement.
Recent trends show divergence: estimated property offenses have declined meaningfully year over year (top quintile improvement nationally), while violent offense benchmarks remain below national safety percentiles. Framing safety in comparative terms rather than block-level claims, operators who maintain visible on-site protocols typically see steadier retention and fewer avoidable non-renewals in submarkets with similar profiles.
Nearby employers span beverages/CPG, industrial distribution, telecom, document technology, and life sciences, supporting workforce housing demand and commute convenience for a broad renter base. Listed below are representative employers by proximity.
- Constellation Brands, Inc. — beverages/CPG (0.8 miles)
- Wesco Distribution — industrial distribution (3.4 miles)
- Dish Network — telecom/pay TV (6.4 miles)
- Constellation Brands — beverages/CPG (10.9 miles) — HQ
- Xerox Corporation — document technology (11.8 miles)
Built in 1999, the property is newer than much of the surrounding housing stock, which skews early-1900s. That relative vintage positions the asset competitively versus older neighborhood inventory while leaving room for targeted modernization of building systems and common areas to enhance leasing velocity and retention. Based on CRE market data from WDSuite, the neighborhood offers a high renter concentration and strong access to daily-needs amenities, both supportive of tenant demand even where metro-level occupancy is mixed.
Investor considerations include balancing rent-to-income headroom with prudent renewals, leveraging the area’s grocery and park proximity in marketing, and budgeting for mid-life system upgrades typical for late-1990s construction. Forward household growth within a 3-mile radius points to a gradually expanding renter pool, which can underpin occupancy stability if operations are proactive.
- 1999 vintage offers competitive positioning versus older stock, with value-add potential through targeted upgrades.
- High neighborhood renter concentration supports tenant depth and leasing resilience.
- Strong grocery/park access enhances livability and retention relative to nearby areas.
- Household growth within 3 miles expands the renter base and supports occupancy stability over time.
- Risks: below-metro-median occupancy and mixed safety benchmarks call for disciplined operations and resident services.