| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 14th | Poor |
| Demographics | 80th | Best |
| Amenities | 18th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 14776 Baker Rd, Kent, NY, 14477, US |
| Region / Metro | Kent |
| Year of Construction | 1972 |
| Units | 35 |
| Transaction Date | 2021-10-21 |
| Transaction Price | $350,000 |
| Buyer | LIVMOOR PORFOLIO HSN CORP |
| Seller | HERITAGE MDWS HSNG D CORP |
14776 Baker Rd Kent NY 35-Unit Multifamily
Investor positioning centers on affordability and a smaller renter pool in a rural submarket; based on CRE market data from WDSuite, neighborhood housing occupancy runs low while rent burdens are modest, suggesting careful lease management rather than aggressive pricing.
Kent is a rural neighborhood within the Rochester, NY metro, characterized by limited retail and service density but good access to open space and basic amenities. Neighborhood demographics score competitively, ranking 19th of 359 metro neighborhoods and in the top quartile nationally, according to WDSuite’s CRE market data. This indicates a relatively stable household profile compared with many rural peers.
Renter concentration is low in the immediate area, with most housing being owner-occupied. For multifamily investors, a smaller renter-occupied base means a thinner funnel of prospects and the need to emphasize retention and targeted marketing to sustain occupancy. Neighborhood housing occupancy is ranked 342 of 359 in the metro and sits in a low national percentile, reinforcing the importance of conservative underwriting on lease-up timing and renewal assumptions.
Within a 3-mile radius, population contracted over the last five years but is projected to edge higher over the next cycle, with households also expected to increase — factors that can gradually expand the local renter pool and support occupancy stability if supply remains limited. Median household incomes in the 3-mile radius have trended higher, which, paired with modest contract rents locally, points to low affordability pressure and potentially steadier collections rather than outsized rent growth.
Ownership costs are comparatively accessible in this part of the metro, and home value-to-income metrics sit well below national norms. For multifamily, this implies potential competition from entry-level ownership options, which can cap pricing power but also encourages operators to compete on convenience, flexible lease terms, and well-maintained units to retain tenants. Overall, the setting favors durable, value-oriented rentals over luxury positioning, aligning with a practical commercial real estate analysis framework.
Comparable safety data for this neighborhood are not reported in the current WDSuite release. Without ranked or percentile crime metrics for the Rochester metro comparison set, investors should benchmark property performance against county and metro trends when data become available and rely on standard diligence practices such as reviewing recent police blotters and speaking with local stakeholders.
Regional employment is diversified across distribution, consumer goods, media, and technology, with several sizable employers within commutable distance that can bolster renter demand and renewal stability for residents working beyond the immediate rural area.
- Wesco Distribution — distribution (27.2 miles)
- Constellation Brands, Inc. — consumer goods offices (30.2 miles)
- Dish Network — media & telecom offices (31.7 miles)
- Xerox Corporation — technology & business services (38.7 miles)
- Constellation Brands — consumer goods (40.7 miles) — HQ
Built in 1972, this 35-unit property offers smaller average unit sizes that position it toward value-oriented renters. Relative to an older local housing base, the vintage can be competitive on functionality, though investors should plan for ongoing system upgrades and targeted renovations to sustain leasing and reduce turnover. According to CRE market data from WDSuite, the surrounding neighborhood has a low renter-occupied share and below-median housing occupancy, so performance hinges on focused retention and measured rent strategies rather than rapid escalations.
The broader context supports an income-resilient but price-sensitive renter segment: local incomes have strengthened, rent burdens are modest, and ownership remains accessible, which can constrain top-line growth but favor stable collections when properties are well-operated. With modest near-term household growth expected within 3 miles, the thesis leans on disciplined operations, curb appeal, and value-add improvements that differentiate the asset from older stock.
- Value-focused positioning with smaller floorplans supports attainable rents and steady collections.
- 1972 vintage offers competitive footing versus older local stock, with targeted capex to modernize systems.
- Income trends and low rent-to-income ratios indicate manageable affordability pressure and retention potential.
- Risk: thin renter base and below-median neighborhood housing occupancy require conservative lease-up and renewal assumptions.
- Risk: accessible ownership options can limit pricing power, making operational execution and tenant experience key.