| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Fair |
| Demographics | 52nd | Fair |
| Amenities | 31st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1000 Laurentian Dr, Palmyra, NY, 14522, US |
| Region / Metro | Palmyra |
| Year of Construction | 1972 |
| Units | 102 |
| Transaction Date | 2012-05-16 |
| Transaction Price | $1,600,000 |
| Buyer | NINE WAY PROPERTIES LLC |
| Seller | VALLEY FORGE MANOR INC |
1000 Laurentian Dr Palmyra Multifamily Investment
Neighborhood occupancy is holding near the low-90s with a renter-occupied share that is competitive for the Rochester metro, according to WDSuite’s CRE market data. Relative affordability supports tenant retention while proximity to established employers underpins steady leasing.
Situated in an inner-suburban pocket of the Rochester, NY metro, the neighborhood rates B- and sits around the metro median overall (ranked 180 of 359 neighborhoods). For investors, this points to stable, workaday fundamentals rather than a momentum-driven submarket.
Rental dynamics are balanced: neighborhood occupancy is around 93% (above the national midline) and the renter-occupied share is high enough to support depth of tenant demand while still drawing from nearby owners who may prefer rentals over time. Rents are relatively accessible locally, and the rent-to-income relationship suggests manageable affordability pressure—factors that can aid retention and steady lease-ups.
Livability signals are mixed. Grocery and restaurant access trend modestly above national midpoints, while cafes and parks are limited. Average school ratings are near national midline. These characteristics align with workforce housing appeal more than lifestyle-driven demand.
Within a 3-mile radius, demographics indicate a smaller average household size and a projected increase in total households over the next five years, expanding the local renter pool despite flat to slightly fluctuating population counts. This supports occupancy stability and provides incremental leasing tailwinds for conventional multifamily, informed by multifamily property research from WDSuite.
Vintage context matters: the neighborhood’s housing stock skews older, while the subject asset’s 1972 construction positions it newer than much of the surrounding inventory. Investors should still plan for ongoing systems upkeep and targeted renovations to maintain competitiveness versus both older legacy properties and newer regional supply.
Comparable, neighborhood-level crime metrics were not available in WDSuite’s current release for this location. Investors typically benchmark property-level controls (lighting, access management, resident screening) and review broader Rochester-area trends to contextualize risk and align insurance and security planning. Absent standardized rank or percentile data, it’s prudent to underwrite conservatively and monitor local trend sources over time.
Employment anchors within commuting distance include life sciences, beverage manufacturing, and technology offices, which help support renter demand and retention for workforce-oriented units. Nearby employers include Thermo Fisher Scientific, Constellation Brands, Xerox Corporation, Constellation Brands, Inc., and Dish Network.
- Thermo Fisher Scientific — life sciences (7.9 miles)
- Constellation Brands — beverage alcohol (11.1 miles) — HQ
- Xerox Corporation — technology & imaging (14.4 miles)
- Constellation Brands, Inc. — beverage alcohol (20.1 miles)
- Dish Network — telecommunications (20.9 miles)
This 102-unit asset, built in 1972, serves a renter base that values relative affordability and access to established employers. Neighborhood occupancy trends near the low-90s and a solid renter-occupied share point to demand depth and steady lease-up potential. The vintage suggests planning for building systems and common-area upgrades, with potential to capture value through modernization versus older local stock.
According to CRE market data from WDSuite, the neighborhood sits around the metro median with livability that skews practical—grocery and restaurant access are adequate, while lifestyle amenities are limited. Within a 3-mile radius, smaller average household size alongside projected household growth supports a larger tenant base over time, reinforcing occupancy stability for conventional multifamily.
- Occupancy stability signaled by neighborhood trends and a renter base supportive of ongoing leasing
- Relative affordability and manageable rent-to-income dynamics that can aid retention and pricing discipline
- 1972 vintage presents value-add potential via systems, interiors, and curb-appeal upgrades versus older local stock
- Proximity to regional employers (life sciences, beverage, technology) supporting workforce housing demand
- Risks: limited lifestyle amenities in the immediate area and capex needs typical of 1970s construction; underwrite conservatively