| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Good |
| Demographics | 75th | Best |
| Amenities | 41st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 427 N Main St, Canandaigua, NY, 14424, US |
| Region / Metro | Canandaigua |
| Year of Construction | 1972 |
| Units | 36 |
| Transaction Date | 1994-11-01 |
| Transaction Price | $488,978 |
| Buyer | MINK MILTON |
| Seller | VANDUSSEN WM J |
427 N Main St Canandaigua Multifamily Investment
Neighborhood occupancy remains competitive versus the Rochester metro, supporting stable tenancy according to WDSuite’s CRE market data. Position in an A-rated suburban area offers durable renter demand without relying on premium, cycle-sensitive pricing.
The property sits in an A-rated suburban neighborhood that ranks 46 out of 359 across the Rochester metro—top quartile performance that signals balanced livability and investment fundamentals based on CRE market data from WDSuite. Neighborhood occupancy is strong and competitive among Rochester neighborhoods, supporting income stability for multifamily operators rather than lease-up risk.
Amenity access skews toward daily convenience: cafés, restaurants, and pharmacies track in the top quartile locally and compare favorably to national peers. However, immediate grocery, childcare, and park options are limited within the neighborhood footprint, so residents may rely on short drives for those needs—an operational consideration for targeting tenant profiles and marketing.
Schools average around mid-to-high performance for the metro, with the neighborhood’s average school rating in the top quartile among 359 Rochester neighborhoods. That positioning can support retention for family-oriented renters seeking stability without premium school-district pricing.
Tenure patterns differ by scale. Within the neighborhood, renter-occupied housing units account for roughly 28.8%, indicating a more owner-leaning block that can help limit turnover pressure. Within a 3-mile radius, renter concentration is near parity with ownership (about half of units renter-occupied), which broadens the tenant base and supports leasing depth for a 36-unit asset.
Demographics aggregated within a 3-mile radius point to gradual population growth alongside a meaningful increase in households and a shift toward smaller average household sizes. This combination typically expands the renter pool and supports occupancy stability, while rising median incomes enhance renewal prospects and measured pricing power for well-managed assets.
Home values in the area are elevated versus many secondary markets but remain moderate in a national context. With neighborhood rent-to-income levels tracking favorably, investors can target steady rent growth while maintaining retention through thoughtful lease management rather than aggressive step-ups.
Comparable, neighborhood-level crime metrics are limited in the available WDSuite dataset for this location. Investors typically benchmark property performance against Rochester metro trends and consult local law enforcement resources for the latest patterns.
Given the suburban context and strong neighborhood ranking within the metro, many owners underwrite with conservative assumptions, emphasize lighting and access controls, and monitor incident trends over time to support resident satisfaction and retention.
The broader employment base features corporate offices within commuting distance that reinforce renter demand and retention through diverse white-collar roles, including consumer products, life sciences, telecom, and technology services. Notable nearby employers include Constellation Brands, Thermo Fisher Scientific, Dish Network, Xerox, and Constellation Brands, Inc.
- Constellation Brands — consumer products (12.7 miles) — HQ
- Thermo Fisher Scientific In Fairport Ny — life sciences (13.8 miles)
- Dish Network — telecom (21.1 miles)
- Xerox Corporation — technology & business services (23.0 miles)
- Constellation Brands, Inc. — consumer products (23.9 miles)
427 N Main St was built in 1972, making it newer than much of the surrounding housing stock and a candidate for selective modernization. Neighborhood occupancy trends are competitive versus the Rochester metro, and within a 3-mile radius the growing household base and rising incomes point to a larger tenant pool and durable leasing. According to CRE market data from WDSuite, rent levels track in a manageable range relative to incomes, supporting retention while leaving room for incremental rent growth through targeted upgrades and strong operations.
Operating upside is grounded in fundamentals: an A-rated suburban location, top-quartile amenity access for cafés/restaurants/pharmacies, and household growth that supports steady absorption. Key watch items include limited immediate grocery/park options, typical capex needs for a 1970s asset, and the need to monitor safety using local sources given incomplete crime reporting at the micro level.
- Competitive neighborhood occupancy supports income stability versus the metro
- 1972 vintage enables value-add through targeted unit and system upgrades
- 3-mile household growth and rising incomes expand the renter pool and renewal prospects
- Amenity strength in cafés, restaurants, and pharmacies aids leasing and retention
- Risks: limited immediate grocery/park access, typical capex for 1970s assets, and incomplete micro-level safety data