| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 20th | Poor |
| Demographics | 34th | Poor |
| Amenities | 33rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 31 Pearl St, Lyons, NY, 14489, US |
| Region / Metro | Lyons |
| Year of Construction | 1987 |
| Units | 42 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
31 Pearl St Lyons NY Multifamily Opportunity
Workforce housing fundamentals appear durable, with a modest renter base and relatively accessible rents in the surrounding neighborhood, according to WDSuite’s CRE market data. The property’s position in a smaller upstate New York market suggests steady tenant demand rather than rapid growth.
The property sits within a rural neighborhood of the Rochester, NY metro that rates a C overall and ranks 282 out of 359 neighborhoods. That places it below the metro median, but amenity access is mixed rather than absent: restaurants and grocery options test above national midpoints, while parks, cafes, and childcare are sparse. In short, day-to-day necessities are present, but lifestyle amenities are limited compared with denser Rochester submarkets.
On livability and renter dynamics, the neighborhood’s renter-occupied share is competitive among Rochester neighborhoods (ranked 116 of 359), indicating a meaningful—though not dominant—renter base that supports multifamily demand. Neighborhood occupancy runs below the metro median (24th percentile nationally), so underwriting should prioritize retention and conservative lease-up timelines at the asset level rather than assuming outsized pricing power.
Home values in the neighborhood sit in a high-accessibility range compared with national norms (around the 5th percentile), which can create some competition from homeownership. For multifamily investors, that backdrop typically supports tenant retention but may temper outsized rent growth expectations. Rent-to-income metrics track favorably (mid-70s percentile nationally), suggesting lower affordability pressure and potential for stable collections with prudent lease management.
Within a 3-mile radius, recent demographic patterns show slight population growth over the past five years alongside a smaller average household size. Looking ahead, forecasts indicate households may continue to increase even as population trends are flat to slightly negative—consistent with smaller household sizes and a gradual expansion of the renter pool. For a 1987-vintage asset, that implies steady demand for practical, well-managed units rather than reliance on premium amenity packages.
Relative vintage also matters: the neighborhood’s housing stock skews older on average, so a 1987 property is newer than much of the surrounding inventory. That positioning can be competitive versus century-old stock while still warranting targeted capital planning for building systems, interiors, and curb appeal to capture value-add upside.
Comparable crime metrics at the neighborhood level are not available in this dataset. Investors typically benchmark safety using multiple public sources and metro-wide reports for Rochester, NY to understand how this area compares to nearby neighborhoods and to evaluate trends over time rather than block-level snapshots.
Regional employers within commuting range support workforce housing demand and day-shift stability, led by manufacturing, beverages, and technology services reflected below.
- Thermo Fisher Scientific — life sciences manufacturing (20.0 miles)
- Constellation Brands — beverages & corporate functions (23.4 miles) — HQ
- Xerox Corporation — technology & services (23.7 miles)
- Dish Network — telecommunications offices (33.2 miles)
- Wesco Distribution — industrial distribution (34.6 miles)
31 Pearl St offers a 42-unit, 1987-vintage footprint with larger-than-typical layouts for the market, aligning with workforce housing demand in a neighborhood where renters represent a meaningful share of occupied units. Based on CRE market data from WDSuite, the surrounding area shows accessible rent levels and a renter pool supported by essential amenities, which favors stable occupancy when paired with disciplined operations.
Compared with the older local housing stock, this vintage can compete effectively with targeted upgrades to interiors and building systems. Demographic patterns within a 3-mile radius point to a gradual shift toward more households and smaller household sizes, which can expand the tenant base even if population growth remains modest. Underwriting should acknowledge softer neighborhood-level occupancy and limited lifestyle amenities, but the asset’s practical unit mix and value-add levers present a straightforward path to durable income.
- Workforce housing positioning with accessible rents supports tenant retention and stable collections.
- 1987 vintage is newer than much of the surrounding stock, enabling value-add through targeted renovations.
- Essential amenities and proximity to regional employers underpin steady day-to-day demand.
- 3-mile demographics indicate more households and smaller sizes, broadening the renter pool over time.
- Risks: below-metro neighborhood occupancy and limited lifestyle amenities may constrain near-term pricing power.