| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Fair |
| Demographics | 33rd | Poor |
| Amenities | 45th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 100 Hope Ave, Newark, NY, 14513, US |
| Region / Metro | Newark |
| Year of Construction | 1980 |
| Units | 20 |
| Transaction Date | 2023-05-10 |
| Transaction Price | $600,000 |
| Buyer | MODERN RISE PROP LLC |
| Seller | WOHLRAB PETER J |
100 Hope Ave Newark NY Multifamily Investment
Neighborhood occupancy near 92.8% and a renter-occupied share around two-fifths suggest a steady tenant base for a 20-unit asset, according to WDSuite’s CRE market data.
Located in Newark within the Rochester metro, the neighborhood rates B- and sits above the metro median in amenity access, competitive among Rochester neighborhoods (72 of 359), while ranking mid-pack nationally. Cafes are a relative strength (top quartile nationally), groceries are competitive for the metro, and parks and formal childcare options are limited nearby — considerations for family-oriented renters.
Occupancy in the neighborhood measures 92.8% (58th percentile nationally), aligning with stable leasing conditions for comparable assets. Median contract rents are lower than many U.S. neighborhoods, helping widen the renter pool and support retention, with forward-looking data indicating additional rent growth potential over the next five years.
Tenure patterns indicate about 38–39% of housing units are renter-occupied, pointing to a modest but reliable base of multifamily demand. The 1980 vintage of this 20-unit property is newer than the neighborhood’s older housing stock (average year 1927), which can offer competitive positioning versus prewar buildings; investors should still plan for system updates or light renovations to sustain performance.
Within a 3-mile radius, recent population trends show measured growth with forecasts calling for a larger household count and smaller average household size. That dynamic can expand the renter pool and support occupancy stability. Home values in the area are on the lower side relative to national norms, which may create some competition from entry-level ownership, but relatively manageable rent-to-income levels support lease retention and consistent demand.
Comparable neighborhood-level crime metrics are not available in WDSuite for this location. Investors typically contextualize safety using multi-year city and county trend data and on-the-ground diligence to understand how the area compares within the Rochester metro. Use prudent assumptions and evaluate property-level security and lighting when underwriting.
- Thermo Fisher Scientific — life sciences operations (14.5 miles)
- Constellation Brands — beverage alcohol HQ and offices (17.6 miles) — HQ
- Xerox Corporation — technology and document services (19.7 miles)
- Constellation Brands, Inc. — beverage alcohol offices (26.5 miles)
- Dish Network — telecommunications offices (27.4 miles)
Regional employers within commuting distance underpin local renter demand and support retention, including life sciences, consumer beverages, and technology offices noted below.
This 20-unit, 1980-vintage property in Newark benefits from a renter-occupied share near two-fifths in the surrounding neighborhood and occupancy near the low-90s, supporting steady leasing and cash flow visibility. Rents track below national medians yet show forward momentum, creating potential room to capture loss-to-lease as renewals cycle, while the asset’s newer vintage versus the area’s older housing stock can enhance competitiveness with targeted updates. Based on commercial real estate analysis from WDSuite, these fundamentals compare favorably to mid-tier suburban submarkets, with manageable rent-to-income levels that can aid retention.
Within a 3-mile radius, population has risen modestly and forecasts indicate further growth in households alongside smaller average household size — trends that typically expand the renter pool and support occupancy stability. Lower home values compared with national norms may present some competition from entry-level ownership, but they also help anchor a value-oriented renter segment, especially as projected rent growth remains reasonable for workforce tenants.
- Stable neighborhood occupancy and modest renter concentration support consistent leasing
- 1980 vintage offers competitive edge versus older local stock; scope for targeted value-add
- Accessible rents with projected growth create potential to capture loss-to-lease
- 3-mile forecasts point to more households and a larger renter pool over time
- Risk: lower home values can compete with rentals; underwrite renewals and pricing discipline