| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Best |
| Demographics | 52nd | Fair |
| Amenities | 13th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1190 Clyde Dr, Farmington, NY, 14425, US |
| Region / Metro | Farmington |
| Year of Construction | 2007 |
| Units | 26 |
| Transaction Date | 2006-08-14 |
| Transaction Price | $152,000 |
| Buyer | ALLOWAY HOUSING DEV FUND |
| Seller | HOUSING OPPORTUNITIES HOU |
1190 Clyde Dr Farmington 26-Unit Multifamily Investment
Neighborhood occupancy is among the strongest in the Rochester metro, supporting income stability for well-managed assets, according to WDSuite’s CRE market data. The immediate area functions as an inner-suburban renter hub within a largely owner-occupied 3-mile radius, offering a balanced demand backdrop.
Located in Farmington’s Inner Suburb of the Rochester, NY metro, the property benefits from a renter-centric pocket within a broader owner-occupied catchment. Neighborhood renter concentration is high (share of housing units that are renter-occupied), which points to a deeper tenant base at the immediate block-group level, while the surrounding 3-mile radius skews more toward ownership—useful context for both lease-up and renewal strategies.
Occupancy in the neighborhood ranks first among 359 metro neighborhoods and is top percentile nationally, a signal of durable renter demand that can support consistent collections and lower downtime. At the same time, neighborhood NOI per unit trends below national norms, so underwriting should emphasize expense discipline and realistic rent growth pacing relative to metro comps.
Daily-needs access is a relative strength: grocery density benchmarks in the upper national percentiles, while cafés, restaurants, parks, and pharmacies are limited locally. For workforce tenants, this mix suggests convenience for essentials with fewer discretionary amenities nearby—conditions that can still support retention if on-site services and unit finishes are competitive.
Within a 3-mile radius, demographics indicate population and household growth with rising incomes, expanding the prospective renter pool over the medium term. Median contract rents in the area have been advancing and are projected to continue, aligning with broader metro fundamentals; investors should calibrate pricing to maintain affordability tiers that sustain occupancy.
Comparable neighborhood-level crime benchmarks were not available in the dataset provided for this location. Investors typically evaluate safety by comparing multi-year neighborhood trends to metro averages and by assessing property-level measures such as lighting, access control, and on-site management practices. Given the inner-suburban context, pairing third-party crime analytics with local leasing feedback can help validate resident sentiment and inform operating plans.
Proximity to established employers supports leasing stability and commute convenience for workforce tenants. Notable nearby corporate offices include Constellation Brands, Thermo Fisher Scientific, Dish Network, and Xerox.
- Constellation Brands — beverage alcohol HQ and corporate offices (6.3 miles) — HQ
- Thermo Fisher Scientific In Fairport Ny — life sciences offices (7.7 miles)
- Dish Network — telecommunications offices (15.4 miles)
- Xerox Corporation — technology and business services offices (17.1 miles)
- Constellation Brands, Inc. — corporate offices (17.4 miles)
Built in 2007, the 26-unit asset competes well against an area average vintage from the 1990s, offering a relative quality edge versus older stock while still leaving room for targeted modernization to support rent positioning. Neighborhood occupancy is exceptionally strong—first among 359 metro neighborhoods and top percentile nationally—suggesting resilience for stabilized operations, according to CRE market data from WDSuite.
The immediate neighborhood shows a high share of renter-occupied units, while the broader 3-mile area is predominantly owner-occupied. This mix creates a concentrated tenant pool close-in with additional demand fed by population and household growth in the wider radius. Rising local rents and incomes point to sustained demand, though elevated rent-to-income levels indicate affordability pressure that calls for careful lease management and prudent renewal strategies.
- 2007 construction provides competitive positioning versus older area stock, with selective value-add potential
- Top-ranked neighborhood occupancy supports income stability and lower turnover risk
- Expanding 3-mile tenant base and rising incomes underpin ongoing renter demand
- Daily-needs access (strong grocery presence) aids retention despite limited discretionary amenities nearby
- Risks: lower neighborhood NOI per unit vs. national norms and affordability pressure require disciplined expense control and pricing