| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Best |
| Demographics | 73rd | Best |
| Amenities | 81st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2 Framark Dr, Victor, NY, 14564, US |
| Region / Metro | Victor |
| Year of Construction | 1998 |
| Units | 24 |
| Transaction Date | 2025-06-03 |
| Transaction Price | $625,000 |
| Buyer | PROVIDENCE VLG HSNG D INC |
| Seller | VICTOR SENIOR APT LP |
2 Framark Dr Victor 24-Unit Multifamily Investment
Neighborhood occupancy is strong and renter demand is supported by a predominantly owner-occupied area that makes professionally managed rentals relatively scarce, according to WDSuite’s CRE market data.
Located in Victor within the Rochester, NY metro, the neighborhood scores A+ overall and ranks 6 out of 359 metro neighborhoods — placing it firmly in the top quartile locally and signaling healthy fundamentals for multifamily. Neighborhood occupancy measures in the top quartile nationally, supporting stable leasing conditions at the submarket level rather than at the property itself.
Daily convenience is a clear strength: restaurants, groceries, pharmacies, parks, and childcare all sit at or above the upper-national percentiles, helping bolster resident satisfaction and retention. Average school ratings are also top quartile nationally, a factor that can support longer tenancy among family households.
The housing stock skews older in this neighborhood (average vintage 1931), which positions a 1998 asset as comparatively newer inventory. That relative youth can be an advantage versus older product while still warranting selective modernization and systems updates to remain competitive.
Renter-occupied share is around one-fifth of housing units in the immediate neighborhood, indicating a largely owner-occupied area. For investors, this often points to steady but thinner renter pipelines and less direct competition from nearby rentals — dynamics that can aid lease retention and pricing discipline when paired with solid property management.
Within a 3-mile radius, population and households have expanded and are projected to continue growing, with household counts rising meaningfully and average household size trending smaller. This combination typically broadens the tenant base and supports occupancy stability for well-run assets.
Home values sit above national midpoints, and rent-to-income levels are favorable by national comparison. For investors, a high-cost ownership landscape can reinforce renter reliance on multifamily housing, while relatively low rent-to-income ratios support lease retention and reduce turnover pressure.
Neighborhood-level crime data suitable for rank or percentile comparison is not available in this dataset. Investors commonly benchmark local safety conditions against Rochester metro and municipal resources, and underwrite with standard reserves and screening practices to manage potential volatility.
Proximity to established corporate employers helps support a stable renter base and commute convenience for residents. The nearby employment mix spans beverage headquarters, life sciences, telecom, and technology offices.
- Constellation Brands — beverage company HQ (4.6 miles) — HQ
- Thermo Fisher Scientific — life sciences offices (7.7 miles)
- Dish Network — telecom operations (12.9 miles)
- Constellation Brands, Inc. — beverage company offices (15.6 miles)
- Xerox Corporation — document technology offices (16.9 miles)
Built in 1998, this 24-unit asset is newer than much of the surrounding neighborhood stock, positioning it well against older comparables while still benefiting from targeted value-add or systems modernization. Neighborhood performance indicators — including top-quartile occupancy and strong amenity access — point to steady leasing conditions at the neighborhood level. In the 3-mile radius, population growth and a notable increase in households expand the renter pool, while a favorable rent-to-income profile supports retention and cash flow durability.
The area’s largely owner-occupied housing mix can limit direct rental competition, creating a scarcity dynamic for professionally managed apartments. At the same time, investors should underwrite thoughtfully for the smaller renter base and standard capital needs tied to a late-1990s vintage. According to CRE market data from WDSuite, these location fundamentals compare well against national benchmarks, reinforcing a long-term, operations-focused hold or measured value-add plan.
- Newer 1998 vintage versus older neighborhood stock supports competitive positioning with targeted modernization upside
- Top-quartile neighborhood occupancy and strong amenities underpin leasing stability at the submarket level
- 3-mile population and household growth expand the tenant base, aiding demand and retention
- Favorable rent-to-income dynamics support pricing power and lower turnover risk
- Risks: predominantly owner-occupied area can thin renter pipelines; 1998 vintage may require systems updates