| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Fair |
| Demographics | 52nd | Fair |
| Amenities | 31st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3510 Vienna St, Palmyra, NY, 14522, US |
| Region / Metro | Palmyra |
| Year of Construction | 2001 |
| Units | 24 |
| Transaction Date | 2025-03-28 |
| Transaction Price | $800,000 |
| Buyer | PROVIDENCE VIENNA HSN INC |
| Seller | PALMYRA VLG APT LP |
3510 Vienna St, Palmyra NY — 24-Unit Multifamily
2001-vintage asset in an Inner Suburb location where neighborhood occupancy trends sit above the national median and renter-occupied share is in the top quartile nationally, according to WDSuite’s CRE market data.
Neighborhood dynamics and livability
Situated within the Rochester, NY metro, the neighborhood carries a B- rating and places around the metro median overall. Renter-occupied housing represents a comparatively deep tenant base, with the neighborhood’s renter concentration ranking in the top quartile nationally — a favorable backdrop for multifamily demand and leasing stability.
Occupancy at the neighborhood level trends above the national median, supporting income durability for stabilized assets. Median contract rents have been rising in recent years, while the rent-to-income ratio sits above the national median for affordability, indicating manageable rent burdens that can aid retention and reduce turnover risk for operators.
Amenity access is competitive among Rochester neighborhoods but modest in national terms: restaurants and groceries are present at practical levels, while cafes, parks, and pharmacies are limited. Average school ratings are near the national midpoint. These factors suggest day-to-day convenience for residents, though operators should not rely on lifestyle differentiators to drive premium pricing.
Within a 3-mile radius, demographics show slight population softness over the past five years with households edging up and average household size declining — a pattern that can expand the renter pool over time. Forward-looking estimates point to additional household growth, which, if realized, would support occupancy stability and steady demand for rental units.
Context on safety
Comparable crime metrics are not available for this specific neighborhood in WDSuite at this time. Investors commonly view safety in relative, trend terms — benchmarking property performance and resident feedback against broader Rochester, NY metro patterns and municipal reports — rather than relying on block-level precision.
Prudent underwriting typically incorporates local management insights, historical occupancy and retention trends, and insurance quotes as practical signals of on-the-ground conditions.
Nearby employment is anchored by life sciences, beverages, and technology offices, which support a steady commuter renter base and can aid leasing retention for workforce-oriented units. The list below reflects major employers in practical commuting range.
- Thermo Fisher Scientific — life sciences (9.1 miles)
- Constellation Brands — beverages (12.4 miles) — HQ
- Xerox Corporation — technology & business services (15.1 miles)
- Dish Network — telecommunications (22.2 miles)
- Wesco Distribution — industrial distribution (24.2 miles)
3510 Vienna St offers 24 units built in 2001, notably newer than the surrounding housing stock. That vintage positions the property competitively versus older neighborhood inventory while still allowing for targeted systems upgrades or light renovations to enhance yield. Neighborhood fundamentals — above-median occupancy and a top-quartile renter-occupied share — point to a durable tenant base and support for stable collections, based on CRE market data from WDSuite.
Within a 3-mile radius, households are trending upward as average household size declines, a dynamic that can expand the renter pool even as population levels remain roughly flat. Ownership costs in the area are relatively accessible by national standards, which may introduce some competition with entry-level ownership; however, manageable rent burdens and proximity to a diversified employer base help sustain demand for multifamily units.
- 2001 construction offers competitive positioning versus older neighborhood stock with targeted value-add potential
- Above-median neighborhood occupancy supports income stability and leasing visibility
- Top-quartile renter-occupied share indicates depth of tenant demand
- 3-mile household growth and smaller household sizes expand the renter pool over time
- Risks: modest amenity depth and relatively accessible homeownership may temper pricing power; plan renovations and marketing accordingly