| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Best |
| Demographics | 55th | Fair |
| Amenities | 25th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 145 Buffalo St, Canandaigua, NY, 14424, US |
| Region / Metro | Canandaigua |
| Year of Construction | 1986 |
| Units | 32 |
| Transaction Date | 2009-11-06 |
| Transaction Price | $1,121,461 |
| Buyer | DEVELOPMENT LLC CLK REAL ESTATE |
| Seller | CHAPMAN DANIEL E |
145 Buffalo St, Canandaigua NY Multifamily Investment
Neighborhood occupancy is steady and renter demand is durable, according to WDSuite’s CRE market data, positioning this 32-unit asset to serve a broad tenant base in Canandaigua. Built in 1986, the property competes well against older local stock while leaving room for targeted upgrades.
The surrounding neighborhood is rated B+ and functions as an Inner Suburb within the Rochester, NY metro, offering a balance of small-city convenience and access to regional employment. Neighborhood occupancy is 95.2% (neighborhood measure, not the property), signaling above-median stability nationally and supporting lease retention for well-maintained units.
Renter concentration is high at 55.2% of housing units (neighborhood tenure), placing the area in the top quartile nationally for renter-occupied housing. For investors, this indicates a deep tenant pool and consistent demand for multifamily product. Within a 3-mile radius, households grew over the past five years and are projected to expand further by 2028, pointing to a larger tenant base and potential absorption support. These dynamics align with findings from WDSuite’s multifamily property research.
Local amenity density is mixed: restaurants are roughly mid-pack for the region, while cafes, parks, groceries, and pharmacies are comparatively sparse. Average school ratings land above the national median, which can help with resident retention among households prioritizing education.
On cost context, neighborhood home values and a higher value-to-income ratio relative to many U.S. areas indicate a higher-cost ownership market, which tends to reinforce reliance on rental housing and can support pricing power for well-located, well-managed apartments. At the same time, neighborhood rent-to-income levels suggest manageable affordability pressure, a positive for lease stability.
Safety indicators present a mixed picture. Compared with neighborhoods nationwide, the area trends modestly above the midpoint on several measures, suggesting generally competitive positioning. However, within the Rochester metro, rankings indicate higher reported crime relative to many peer neighborhoods, so investors should underwrite with prudent operating assumptions and focus on on-site controls and resident experience.
Year-over-year movements in reported offense categories are also mixed. A practical approach is to assess recent property-level security investments, lighting, and visibility, and to benchmark incident trends against comparable Inner Suburb locations in the metro rather than relying on a single metric.
Proximity to regional employers supports renter demand and commute convenience, with a base that includes Constellation Brands (HQ), Thermo Fisher Scientific, Dish Network, and Xerox. These nodes help diversify employment and can aid retention for workforce-oriented units.
- Constellation Brands — beverage alcohol (12.9 miles) — HQ
- Thermo Fisher Scientific In Fairport Ny — life sciences (14.1 miles)
- Dish Network — telecom services (21.1 miles)
- Xerox Corporation — technology & services (23.3 miles)
- Constellation Brands, Inc. — beverage alcohol (24.0 miles)
145 Buffalo St offers 32 units built in 1986, a vintage that is newer than much of the surrounding housing stock. This positioning can reduce immediate capital exposure versus older assets while still presenting value-add potential through selective interior and system upgrades. Neighborhood occupancy is strong, renter concentration is high, and within a 3-mile radius both historical and projected household growth point to a larger renter pool and support for occupancy stability.
According to CRE market data from WDSuite, the neighborhood’s ownership costs are elevated relative to local incomes, which tends to sustain rental demand, while rent-to-income indicators suggest manageable affordability pressure that can aid retention. The main considerations are mixed safety readings within the metro and thinner amenity density, both of which warrant active asset management and careful underwriting.
- 1986 vintage positioned competitively versus older neighborhood stock, with clear modernization/value-add levers
- High neighborhood renter-occupied share supports a deep tenant base and steady leasing
- Household growth within 3 miles and solid neighborhood occupancy support demand and retention
- Elevated ownership costs bolster reliance on rentals, while rent-to-income levels support lease stability
- Risk: Mixed safety signals in the metro and lighter amenity density require prudent operations and resident-focused management