| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Best |
| Demographics | 62nd | Good |
| Amenities | 7th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2050 N Union St, Spencerport, NY, 14559, US |
| Region / Metro | Spencerport |
| Year of Construction | 2002 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2050 N Union St Spencerport Multifamily Investment
Neighborhood-level occupancy is exceptionally tight and has trended higher in recent years, supporting stable renter demand, according to WDSuite’s CRE market data. In a car-oriented pocket of Spencerport, investors should expect steady leasing but moderate pricing power given local income and ownership dynamics.
This Spencerport address sits in a rural, car-oriented neighborhood within the Rochester metro where on-site parking and access to daily needs by vehicle matter more than walkable amenities. Cafes, restaurants, parks, and pharmacies are sparse nearby, so properties that deliver convenience on-site tend to compete better for renewals.
Among 359 metro neighborhoods, the area ranks first for occupied housing share, signaling very tight neighborhood occupancy and comparatively limited vacant stock. For investors, that backdrop typically supports lease stability and reduces downtime, even as concessions remain a lever for lease-up management.
Construction vintage averages 1990 locally; this property was built in 2002, giving it a newer-than-average profile versus surrounding stock. That positioning can help competitiveness against older assets, while still warranting selective system updates or light modernization to meet current renter expectations.
Within a 3-mile radius, recent commercial real estate analysis shows modest population growth alongside a larger increase in household counts and shrinking average household size. That pattern expands the pool of households and can support demand for smaller units, benefiting a 20-unit asset with efficient floor plans. Looking forward, forecasts indicate households continue to rise even as population tapers, which points to more, smaller households entering the renter pool and supports occupancy stability.
Ownership remains relatively accessible in this submarket compared with high-cost coastal metros. Elevated homeownership accessibility can create some competition for renters at renewal, but a low rent-to-income profile in the neighborhood suggests manageable affordability pressure that may aid retention. Average school ratings in the area are on the lower side for the metro, which is a leasing consideration for family renters but less impactful for studios and smaller formats.
Safety signals are mixed but generally favorable in comparative terms. Neighborhood crime metrics sit above national safety averages (higher national percentiles indicate comparatively safer conditions), with property and violent offense rates benchmarking well versus many U.S. neighborhoods. However, recent year-over-year trends show volatility, including an uptick in violent incidents that warrants ongoing monitoring by operators.
At the metro scale of 359 neighborhoods, conditions are not the lowest-risk cohort, yet recent data shows meaningful improvement in property offenses alongside that short-term rise in violent incidents. Investors should underwrite with standard precautions—lighting, access control, and resident engagement—while tracking trendlines as part of routine risk management.
Nearby employment is diversified across distribution, consumer brands, telecommunications, and technology services, supporting a steady commuter renter base. Key employers include Wesco Distribution, Constellation Brands, Dish Network, and Xerox, with a regional headquarters presence for Constellation Brands within driving range.
- Wesco Distribution — distribution (7.1 miles)
- Constellation Brands, Inc. — consumer beverages (10.0 miles)
- Dish Network — telecommunications services (12.6 miles)
- Xerox Corporation — technology & business services (19.6 miles)
- Constellation Brands — consumer beverages (20.6 miles) — HQ
Built in 2002 with 20 units, the property offers a newer-than-neighborhood vintage that competes well against older Rochester-area stock. Tight neighborhood occupancy—ranking at the top of the metro—supports steady leasing and limited downtime, while a low rent-to-income profile suggests manageable affordability pressure and potential for durable retention, according to CRE market data from WDSuite. Investor focus should be on light modernization and amenity programming that offsets the car-oriented setting.
Within a 3-mile radius, households have grown even as average household size trends smaller, and forecasts point to additional household growth ahead. That shift typically expands the renter base for efficiently sized units and supports occupancy stability. Counterbalancing factors include relatively accessible ownership costs in the submarket, limited nearby amenities, and mixed but generally favorable safety metrics with some recent volatility—considerations that argue for disciplined underwriting and active asset management.
- Newer-than-local vintage (2002) supports competitive positioning versus older stock
- Tight neighborhood occupancy and rising household counts support leasing stability
- Low rent-to-income profile aids retention; focus on service and light upgrades for value capture
- Employment access to regional brands supports commuter demand
- Risks: amenity-light location, relatively accessible ownership competition, and recent safety trend volatility