| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 34th | Fair |
| Demographics | 46th | Fair |
| Amenities | 50th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 69 State St, Manchester, NY, 14504, US |
| Region / Metro | Manchester |
| Year of Construction | 2008 |
| Units | 72 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
69 State St Manchester NY — 72-Unit Multifamily
Built in 2008, this newer asset competes well against older local stock and benefits from neighborhood occupancy trending in the low-to-mid 90s, according to WDSuite’s CRE market data.
The property sits in a Rural pocket of the Rochester, NY metro that carries a B+ neighborhood rating and is competitive among 359 Rochester neighborhoods. Amenity access is mixed: grocery, pharmacy, parks, and childcare availability track around the national middle, while café density is limited, which matters for resident convenience rather than core leasing fundamentals.
Neighborhood occupancy is above the national median (64th percentile), suggesting steady demand for existing rentals. However, renter-occupied share in the immediate area is relatively low, indicating a smaller renter base; for investors, that can support stability but may cap rapid lease-up without targeted marketing. Typical contract rents benchmark near national midpoints, and rent-to-income levels around the neighborhood point to manageable affordability, which can aid retention and reduce turnover risk.
Within a 3-mile radius, demographics indicate households have inched higher even as population edged down, with forecasts showing more households and smaller average household sizes. For multifamily operators, that pattern can translate into a larger tenant base per capita and demand for well-managed units, especially as incomes trend higher in the area.
The broader housing context shows elevated ownership orientation and relatively accessible home values for the region. That can create competition from entry-level ownership options, but it also means professionally managed rentals with convenient amenities and modern finishes can differentiate on ease-of-living and maintenance certainty rather than price alone.
Neighborhood-level crime metrics were not available in WDSuite’s current release for this location. Investors typically compare neighborhood trends to metro and county sources when underwriting; consider supplementing with recent municipal reports and insurer/lender guidance to gauge relative safety and potential operating implications.
- Thermo Fisher Scientific — life sciences manufacturing/offices (11.3 miles)
- Constellation Brands — beverage/CPG corporate (12.3 miles) — HQ
- Xerox Corporation — technology & business services (19.7 miles)
- Dish Network — telecommunications offices (21.9 miles)
- Wesco Distribution — industrial distribution (26.1 miles)
Constructed in 2008, this 72-unit asset is materially newer than much of the surrounding housing stock, supporting competitive positioning versus older rentals while allowing investors to plan for targeted modernization rather than full-scale rehabilitation. Neighborhood occupancy trends sit above national medians and rent-to-income levels indicate manageable affordability, which can help sustain retention and pricing discipline, according to CRE market data from WDSuite.
The 3-mile radius shows a shift toward more households and smaller household sizes even as total population softens, a setup that can expand the renter pool over time. The area’s ownership orientation implies some competition from lower-cost ownership, but professionally managed, well-maintained units can capture demand from residents prioritizing convenience and maintenance certainty.
- 2008 vintage provides competitive edge versus older local stock with measured capital needs
- Neighborhood occupancy above national medians supports leasing stability and cash flow consistency
- Household growth and smaller household sizes within 3 miles suggest a gradually expanding renter base
- Manageable rent-to-income dynamics can aid retention and reduce turnover risk
- Risk: ownership-heavy area may limit rapid lease-up and requires differentiation on operations and convenience