| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Fair |
| Demographics | 33rd | Poor |
| Amenities | 45th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 309 Washington St, Newark, NY, 14513, US |
| Region / Metro | Newark |
| Year of Construction | 1986 |
| Units | 24 |
| Transaction Date | 2020-11-30 |
| Transaction Price | $1,040,000 |
| Buyer | NEWARK ANTILLIE DEGEO LLC |
| Seller | ANTILLIE PROPERTIES INC |
309 Washington St Newark NY Multifamily Investment
Neighborhood renter-occupied share sits in the top quartile of the Rochester metro, supporting a deeper tenant base and steady leasing, according to WDSuite’s CRE market data. Occupancy in the surrounding area trends modestly above national norms, pointing to stable operations for well-managed assets.
This Inner Suburb neighborhood of the Rochester, NY metro is rated B- (ranked 198 out of 359 neighborhoods), indicating balanced fundamentals for small to mid-sized multifamily assets. The renter-occupied share is competitive at the metro level—top quartile among 359 neighborhoods—reinforcing depth in the tenant pool and supporting demand stability for studios and smaller formats as well as conventional units.
Amenity access is mixed: cafes and pharmacies score above national midpoints (cafe density is strong by national standards), while parks and formal childcare options are limited nearby. For investors, that mix suggests everyday convenience but fewer lifestyle anchors; properties with on-site amenities or nearby private services can differentiate in leasing.
Home values in the neighborhood sit well below national medians, which historically makes ownership more accessible and can introduce competition with for-sale options. Even so, the local rent-to-income ratio is moderate, which supports resident retention and reduces affordability pressure relative to higher-cost metros. Average public school ratings are lower than national norms, a consideration for family-focused demand but less impactful for workforce and adult household segments.
Demographic statistics are aggregated within a 3-mile radius. Recent trends indicate a modest increase in population with relatively stable household sizes, and projections call for population growth with a notable increase in households over the next five years. A shift toward smaller household sizes points to more one- and two-person households—an expansion that typically supports multifamily absorption and occupancy stability when supply additions are measured, based on commercial real estate analysis from WDSuite.
Comparable neighborhood-level crime metrics are not available in WDSuite for this area, so investors should rely on broader city and county trend reviews and on-site diligence to contextualize safety. When crime data is unavailable, assessing visibility, lighting, and property management practices can help gauge risk relative to other Rochester metro neighborhoods.
Nearby employers provide a diversified employment base that supports local renter demand and commute convenience, led by life sciences, beverage, technology/print, telecommunications, and distribution.
- Thermo Fisher Scientific — life sciences (14.9 miles)
- Constellation Brands — beverage & consumer goods (18.0 miles) — HQ
- Xerox Corporation — technology & print (20.1 miles)
- Dish Network — telecommunications (27.9 miles)
- Wesco Distribution — electrical distribution (29.9 miles)
Built in 1986, this 24-unit property is newer than much of the area’s housing stock, which skews to earlier vintages. That positioning can provide a competitive edge versus older inventory, while still warranting capital planning for systems modernization or value-add finishes to enhance leasing velocity and rent resilience. According to CRE market data from WDSuite, the neighborhood’s renter concentration ranks in the top quartile within the Rochester metro, supporting a solid tenant base; occupancy trends in the area run modestly above national averages, favoring stable operations for well-managed assets.
Within a 3-mile radius, projections indicate population growth and a meaningful increase in households over the next five years, implying a larger tenant pool and support for occupancy stability, especially as household sizes trend smaller. Low relative home values can create some competition from ownership options, but moderate rent-to-income dynamics and proximity to diversified employers underpin steady renter demand over a full cycle.
- 1986 vintage offers competitive positioning versus older stock, with clear modernization/value-add pathways
- Top-quartile renter-occupied share in the Rochester metro supports a deeper tenant base
- 3-mile projections show population and household growth, aiding leasing stability
- Moderate rent-to-income conditions support retention and pricing discipline
- Risks: lower average school ratings, limited parks/childcare amenities, and potential competition from ownership options