| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 18th | Poor |
| Demographics | 46th | Fair |
| Amenities | 5th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1662 Lopez Ln, Savannah, NY, 13146, US |
| Region / Metro | Savannah |
| Year of Construction | 1995 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1662 Lopez Ln, Savannah NY — 24-Unit Rural Multifamily
Newer 1995 vintage relative to local housing stock positions the asset competitively while the area s low rent-to-income ratios, according to CRE market data from WDSuite, can support tenant retention even as amenities are limited.
The property sits in a rural pocket of the Rochester, NY metro where neighborhood performance is below the metro median (ranked 331 among 359 neighborhoods; rating C-). Amenities are sparse (amenity rank 280 of 359), and food/retail options are limited nearby, so the appeal skews toward residents prioritizing space, quiet, and value over walkable convenience.
Rents in the neighborhood track on the lower end of the metro and have softened over the last five years, while the neighborhood occupancy rate is below the metro median (rank 261 of 359). For investors, this points to cautious revenue assumptions and a focus on operational efficiency to protect NOI in lease-up and renewals.
Vintage is a relative advantage: the asset s 1995 construction is materially newer than the neighborhood s older average housing stock (around mid-20th century). This can support competitiveness versus older properties, though capital plans should still account for aging systems and selective modernization to meet renter expectations.
The neighborhood shows a low renter concentration (renter-occupied share ranks 238 of 359), indicating a thinner multifamily tenant base. However, national affordability positioning is favorable: the rent-to-income ratio sits in a high national percentile, which can help support lease retention. By contrast, low home values relative to incomes (low national value-to-income percentile) suggest ownership is comparatively accessible, which can compete with rentals and may moderate pricing power.
Demographic statistics are aggregated within a 3-mile radius. Over the past five years, population contracted and households declined modestly, with smaller average household sizes emerging. Forward-looking estimates anticipate further population contraction but a potential increase in total households alongside smaller household sizes, which can sustain demand for smaller units while keeping the overall renter pool thin. Income trends in the neighborhood are near the metro median, with household income rank modestly above the metro midpoint (170 of 359), supporting the case for stable workforce housing demand at the right price point.
Comparable neighborhood crime metrics are not available in WDSuite for this location. Investors typically benchmark safety using county and metro sources and track multi-year trends to understand relative positioning versus nearby Rochester-area neighborhoods. Because rural areas can vary widely by corridor, property- and block-level diligence (e.g., local law enforcement briefings and insurance loss runs) is recommended before underwriting security-related operating costs.
The employment base is regional, with tenants often commuting to corporate offices within roughly 30 7 miles. Nearby anchors include WestRock, ADP Syracuse, Thermo Fisher Scientific, Xerox, and Constellation Brands, supporting workforce housing demand tied to stable office and industrial-adjacent roles.
- WestRock packaging & paper (28.2 miles)
- ADP Syracuse payroll & HR services (29.1 miles)
- Thermo Fisher Scientific In Fairport Ny life sciences offices (31.7 miles)
- Xerox Corporation technology & business services (34.4 miles)
- Constellation Brands beverage alcohol (35.2 miles) HQ
This 24-unit asset provides exposure to a rural Rochester submarket where operating strategy matters more than momentum. The 1995 vintage is newer than much of the area s housing stock, offering a competitive edge versus older properties while still warranting targeted system updates and cosmetic refreshes. According to CRE market data from WDSuite, neighborhood occupancy sits below the metro median and renter concentration is modest, so underwriting should emphasize conservative rent growth, steady renewals, and expense control.
Affordability is the primary support for demand: low rents relative to incomes and a workforce drawn to regional employers can help stabilize tenancy. At the same time, relatively accessible homeownership in the area implies competition with entry-level ownership, and limited local amenities may require sharper pricing and value-add execution to sustain leasing velocity.
- Newer 1995 construction versus older neighborhood stock supports competitive positioning with modest capex for modernization.
- Affordability tailwind: low rent-to-income dynamics can aid retention and occupancy stability.
- Regional employers within commuting range provide a practical tenant base for workforce housing.
- Risk: thin renter base and below-median neighborhood occupancy require conservative underwriting and disciplined lease management.
- Risk: accessible ownership and limited amenities may temper pricing power and slow lease-up without value-oriented positioning.