| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 38th | Fair |
| Demographics | 28th | Poor |
| Amenities | 31st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 895 Fernwood Park, Rochester, NY, 14609, US |
| Region / Metro | Rochester |
| Year of Construction | 1993 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
895 Fernwood Park Rochester NY Multifamily Investment
Neighborhood fundamentals point to steady renter demand, with occupancy measured at the neighborhood level holding near the metro middle and a renter-occupied share that supports a stable tenant base, according to WDSuite’s CRE market data.
Situated in Rochester’s Inner Suburb (neighborhood rating: C+ among 359 metro neighborhoods), the area surrounding 895 Fernwood Park offers workable access to daily needs. Grocery availability ranks 29th of 359 in the metro—above the metro median and roughly top quartile nationally—while childcare access is also comparatively strong. By contrast, cafes, parks, and pharmacies are limited within the immediate neighborhood, which may modestly affect walkable lifestyle appeal but can be offset by short drives to nearby corridors.
Rents and occupancy at the neighborhood level suggest balanced performance. Neighborhood occupancy is around the metro middle, and the share of renter-occupied housing units is elevated versus many suburbs, indicating a meaningful tenant pool for multifamily leasing. Median contract rents track below national levels, which can aid retention while requiring disciplined revenue management. Home values are lower than national norms, which can introduce some competition from ownership options but also broaden the pool of households for whom professionally managed rentals remain practical.
Three-mile demographics (aggregated within a 3-mile radius) signal a steady renter pipeline: households have increased in recent years and are projected to expand further, even as average household sizes trend lower. This dynamic typically enlarges the renter pool and supports occupancy stability for well-managed assets. Income measures in the 3-mile area have risen meaningfully, and forecasts point to continued growth, supporting gradual rent absorption. These trends align with commercial real estate analysis that emphasizes renter pool expansion and leasing durability in workforce-oriented submarkets.
Relative to metro peers, the neighborhood’s amenity rank sits below the midpoint overall, yet its strong grocery and childcare access combine with practical commute options in the Rochester region to underpin day-to-day livability. Investors should underwrite with an eye toward value positioning and durable tenant services to capture demand depth implied by neighborhood renter concentration and 3-mile household growth.
Safety indicators are mixed in a metro and national context. The neighborhood’s crime rank trends on the higher side within the Rochester metro (66th of 359), placing it below average locally, while national positioning sits below the midpoint. However, recent trends show improvement in violent incidents, with a one-year decline that benchmarks favorably versus national trends. Investors typically mitigate this profile through professional management, lighting and access controls, and resident engagement, aiming to sustain retention and occupancy.
Nearby employers provide a diversified white-collar employment base that supports workforce housing demand and leasing stability, including corporate offices in consumer brands, distribution, technology, and life sciences referenced below.
- Constellation Brands, Inc. — consumer brands corporate offices (2.8 miles)
- Wesco Distribution — industrial supplies distribution offices (4.8 miles)
- Xerox Corporation — technology & business services offices (8.4 miles)
- Thermo Fisher Scientific — life sciences offices (10.9 miles)
- Constellation Brands — consumer brands corporate offices (11.0 miles) — HQ
Built in 1993, this 24-unit asset is newer than much of the surrounding housing stock, positioning it competitively against older product while still warranting targeted modernization of aging systems for rent optimization. At the neighborhood level, occupancy trends hold near the metro middle and the share of renter-occupied units is elevated, supporting tenant depth. Within a 3-mile radius, households have grown and are projected to expand further, implying a larger renter base and support for lease-up and retention; these factors, combined with below-national rent levels locally, point to steady absorption potential when paired with sound operations.
According to CRE market data from WDSuite, grocery and childcare access rank favorably versus metro peers, while limited nearby parks, cafes, and pharmacies call for competitive on-site amenities and service. Ownership costs in this area are relatively accessible compared with national norms, which can introduce competition from for-sale options; however, the neighborhood’s renter concentration and three-mile household growth outlook suggest ongoing demand for well-managed multifamily.
- 1993 vintage offers a competitive edge versus older neighborhood stock, with selective value-add potential.
- Neighborhood occupancy near metro levels and elevated renter-occupied share support demand depth and leasing stability.
- Three-mile household growth and rising incomes expand the renter pool and underpin retention.
- Strong grocery and childcare access offset thinner cafe/park/pharmacy options, aiding day-to-day livability.
- Key risks: crime levels below metro average and competitive for-sale housing; mitigate via professional management and value positioning.