| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 33rd | Fair |
| Demographics | 66th | Good |
| Amenities | 46th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 529 Exchange St, Geneva, NY, 14456, US |
| Region / Metro | Geneva |
| Year of Construction | 1983 |
| Units | 53 |
| Transaction Date | 1998-07-30 |
| Transaction Price | $2,385,207 |
| Buyer | LAKE AREA DEVELOPMENT COR |
| Seller | SENECA ASSOCIATES |
529 Exchange St, Geneva NY Multifamily Investment Thesis
Positioned in an inner-suburb pocket of the Rochester, NY metro, this asset benefits from stable renter demand and accessible pricing dynamics, according to WDSuite’s CRE market data. This commercial real estate analysis points to a durable tenant base supported by neighborhood amenities and steady population fundamentals.
The property sits in Geneva, an inner-suburb location within the Rochester metro that rates A- at the neighborhood level, indicating competitive livability for renters relative to many area peers. Dining density is a local strength, competitive among 359 Rochester neighborhoods and in the top quartile nationally, while grocery access also ranks competitively in the metro and high nationally — factors that can aid leasing and retention.
Amenity coverage is mixed: restaurants and parks index well (both competitive within the metro and top quartile nationally), but cafes and pharmacies are limited locally. For investors, this mix suggests convenience for daily needs and leisure, with some gaps that may shift trips to nearby nodes without materially undermining renter appeal.
Renter concentration is meaningful at the neighborhood level, with more than half of housing units renter-occupied. That depth typically supports multifamily demand and reduces volatility through a broader tenant pool. By contrast, the neighborhood’s occupancy level trends below national medians, implying slightly more leasing competition — a manageable consideration when underwriting concessions and lease-up timelines.
The property’s 1983 vintage is newer than much of the surrounding housing stock, which skews older. This relative positioning can help competitiveness against legacy units, while still warranting thoughtful capital planning for systems and modernization to meet current renter preferences.
Within a 3-mile radius, WDSuite data indicates modest population growth to date and a projected increase in households through the next five years, pointing to a larger tenant base and support for occupancy stability. Median home values in the area are comparatively lower in national context, which can increase competition from ownership options; however, rent-to-income levels remain moderate, helping sustain multifamily demand and lease retention.
Neighborhood-level crime metrics are not published in WDSuite for this location, so direct comparisons to Rochester-area peers or national percentiles are unavailable here. Investors typically contextualize safety using broader city and county trends alongside property-level operations when data is limited.
Given the absence of neighborhood-specific rankings, a prudent approach is to monitor local trend reports and consider how on-site management practices can support resident comfort and leasing performance over time.
The employment base within commuting range includes life sciences, beverage, technology, and communications firms, supporting workforce housing demand and helping drive leasing stability for nearby rentals. The list below highlights notable corporate offices by proximity.
- Thermo Fisher Scientific — life sciences offices (25.6 miles)
- Constellation Brands — beverage & consumer goods (26.9 miles) — HQ
- Xerox Corporation — document technology & services (32.8 miles)
- Dish Network — communications & satellite TV (36.3 miles)
This 53-unit, 1983-vintage property positions as a relatively newer asset versus the neighborhood’s predominantly older housing stock, offering competitive appeal with potential upside from targeted renovations and systems upgrades. Based on CRE market data from WDSuite, the surrounding area shows a meaningful renter-occupied share and strong access to restaurants, groceries, and parks — elements that can support tenant retention even as the broader neighborhood exhibits slightly softer occupancy.
Within a 3-mile radius, population growth to date and projected household expansion suggest a larger tenant base over the next five years, which can support leasing and rent durability. Lower home values in national context imply some competition from ownership; underwriting should balance this with the property’s relative vintage advantage and access to diversified employment centers within commuting distance.
- Newer 1983 vintage versus older neighborhood stock supports competitiveness; targeted value-add can enhance positioning.
- Strong local access to restaurants, groceries, and parks aids leasing and tenant retention.
- Renter-occupied share indicates depth of tenant base, supporting multifamily demand and occupancy stability.
- Projected household growth within 3 miles expands the renter pool, supporting long-term fundamentals.
- Risk: Neighborhood occupancy trends below national medians and relatively accessible ownership options may increase leasing competition.