| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Fair |
| Demographics | 52nd | Fair |
| Amenities | 31st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 201 Canal St, Palmyra, NY, 14522, US |
| Region / Metro | Palmyra |
| Year of Construction | 1979 |
| Units | 61 |
| Transaction Date | 2011-11-17 |
| Transaction Price | $1,190,000 |
| Buyer | TOWPATH HOUSING DEVELOPME FUND CORPORATION |
| Seller | TOWPATH II ASSOCIATES LP |
201 Canal St, Palmyra NY Multifamily Investment
Neighborhood occupancy trends are steady and renter demand is supported by a sizable renter-occupied share, according to WDSuite s CRE market data. For investors, the submarket s affordability profile points to stable leasing with room for thoughtful value-add.
Located in Palmyra within the Rochester, NY metro, the surrounding neighborhood is characterized as an Inner Suburb with a B- rating. Local livability leans practical: grocery access is present while cafes, parks, and pharmacies are limited, suggesting residents rely on nearby corridors for daily needs. Average school ratings sit around the middle of the pack, a neutral factor for leasing velocity.
From a rental perspective, neighborhood occupancy is solid (measured for the neighborhood, not this property) and sits modestly above the national midpoint, per commercial real estate analysis from WDSuite. The area shows a meaningful share of renter-occupied housing units, indicating a durable tenant base and consistent renewal potential.
Vintage and competitive positioning: With a 1979 construction year, the asset is materially newer than much of the area s older housing stock (average neighborhood construction year skews early 1900s). That relative youth can aid competitive positioning versus legacy inventory, though investors should still plan for ongoing system updates and modernization to meet current renter expectations.
Affordability and demand drivers: Neighborhood home values are comparatively low on a national basis. While that can introduce some competition from ownership options, rent-to-income levels are favorable for multifamily operators, supporting retention and measured pricing power. Within a 3-mile radius, recent population trends have been soft, but forecasts point to incremental population growth and a notable increase in household counts alongside smaller average household sizes ynamics that typically expand the renter pool and support occupancy stability.
Comparable neighborhood crime statistics were not available in this data release for the Rochester metro cut. Investors typically contextualize safety by comparing neighborhood-level trends to metro and national baselines when reported. Given the absence of rank and percentile indicators here, underwriting should rely on supplemental sources and observed leasing performance rather than block-level assumptions.
Nearby employers across life sciences, consumer brands, and technology provide a diversified employment base that can support renter demand and retention for workforce-oriented units. The list below highlights key names within commuting distance: Thermo Fisher Scientific, Constellation Brands, Xerox, Dish Network, and Wesco.
- Thermo Fisher Scientific life sciences (8.1 miles)
- Constellation Brands consumer beverages (11.6 miles) HQ
- Xerox Corporation technology & business services (14.2 miles)
- Dish Network telecommunications (21.3 miles)
- Wesco Distribution industrial distribution (23.2 miles)
201 Canal St offers scale for a smaller market (61 units) with a 1979 vintage that is newer than much of the surrounding housing stock. Based on CRE market data from WDSuite, the neighborhood demonstrates steady occupancy and an above-mid national positioning, with a meaningful share of renter-occupied units that supports a consistent tenant base. Affordability metrics indicate manageable rent-to-income levels, which can aid lease retention and provide room for calibrated renovations to capture incremental rent.
Within a 3-mile radius, recent softness in population contrasts with forecasts calling for modest population growth and a sizeable increase in household counts as household sizes trend lower. That pattern typically broadens the renter pool and supports occupancy stability. Key risks include limited neighborhood amenities and relatively accessible homeownership costs, which can introduce competition for some renter cohorts; disciplined capex and value positioning remain important.
- 61-unit scale with 1979 vintage offers value-add and modernization potential versus older local stock
- Steady neighborhood occupancy and sizable renter-occupied share support leasing durability
- Favorable rent-to-income dynamics underpin retention and measured pricing power
- 3-mile outlook shows household growth with smaller sizes, expanding the renter pool
- Risks: amenity-light location and accessible ownership options require disciplined positioning