| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Fair |
| Demographics | 33rd | Poor |
| Amenities | 45th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1111 S Main St, Newark, NY, 14513, US |
| Region / Metro | Newark |
| Year of Construction | 1980 |
| Units | 84 |
| Transaction Date | 2024-04-23 |
| Transaction Price | $2,329,000 |
| Buyer | NEWARK ROSE GDN HSNG CORP |
| Seller | NEWARK R ASSOCIATES LP |
1111 S Main St Newark NY Multifamily Investment
Neighborhood occupancy sits around 92.8% (neighborhood metric, not the property), pointing to stable renter demand in Newark’s inner-suburban context, according to WDSuite’s CRE market data. Forward population and household expansion within a 3-mile radius suggest a larger tenant base to support steady leasing over a multi-year hold.
The property is in Newark, within the Rochester, NY metro, where the neighborhood holds a B- rating and ranks 198 out of 359 metro neighborhoods—roughly mid-pack among local peers based on WDSuite’s CRE market data. Neighborhood occupancy trends land above the national median, indicating durable renter activity and supporting day-to-day leasing consistency for multifamily operators.
Livability signals are mixed but serviceable for workforce housing. Cafes rank strong relative to peers (nationally higher than many neighborhoods), and grocery and restaurant access is competitive for a smaller inner-suburb. However, parks and childcare options are limited, which may matter for family-oriented product. Average school ratings in the area are lower than most neighborhoods nationwide, a factor to weigh in resident profile and marketing strategy rather than a determinant of overall demand.
Tenure patterns show about 38.6% of housing units are renter-occupied at the neighborhood level, indicating a moderate renter concentration and a dependable pool of prospective tenants. Within a 3-mile radius, recent population growth has been modest, while projections indicate a meaningful increase in households alongside smaller average household sizes—dynamics that typically expand the renter pool and support occupancy stability.
Home values in the neighborhood sit well below national medians, placing the area in a lower-cost ownership market. For investors, that can introduce some competition from entry-level ownership but also helps sustain rent-to-income levels near the national midpoint, aiding retention and lease management. With a neighborhood average construction year near 1927, a 1980-vintage asset can compete well against older local stock, though investors should still underwrite ongoing system upgrades and targeted renovations to optimize positioning.
Comparable crime data for this specific neighborhood is not available in WDSuite’s dataset. Investors typically benchmark conditions against Rochester metro and county trendlines and review multi-year movements rather than single-period readings. As always, pair neighborhood-level trend analysis with on-the-ground diligence and municipal reporting to understand how conditions may influence leasing and retention.
Nearby employers provide a diversified regional base that supports commute convenience and renter retention, including life sciences, beverage, technology, telecom, and industrial distribution—each reflected below.
- Thermo Fisher Scientific — life sciences (15.2 miles)
- Constellation Brands — beverage (18.2 miles) — HQ
- Xerox Corporation — technology/printing (20.5 miles)
- Constellation Brands, Inc. — beverage (27.3 miles)
- Dish Network — telecom (28.1 miles)
- Wesco Distribution — industrial distribution (30.3 miles)
1111 S Main St offers an 1980-vintage multifamily profile in a neighborhood that performs around the metro middle yet maintains occupancy above national medians. The asset’s vintage is newer than much of the local housing stock, which helps competitive positioning, while still warranting capital planning for building systems and targeted value-add to capture leasing velocity.
Within a 3-mile radius, steady population trends and a projected increase in households point to a larger tenant base and support sustained occupancy. Lower relative home values suggest some competition from ownership, but also tend to keep rent-to-income manageable—supporting retention and measured pricing power. According to CRE market data from WDSuite, the neighborhood’s renter concentration and amenity mix align with workforce housing demand, though limited parks/childcare and lower school ratings should be factored into unit mix and marketing assumptions.
- Neighborhood occupancy above national median supports leasing stability
- 1980 vintage competes against older local stock; scope for targeted renovations
- Projected household growth within 3 miles expands the renter pool
- Workforce-oriented location with everyday amenities (cafes, grocery, restaurants)
- Risks: lower school ratings, limited parks/childcare, and potential competition from entry-level ownership