| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 24th | Poor |
| Demographics | 53rd | Fair |
| Amenities | 24th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7 Newark St, Sodus, NY, 14551, US |
| Region / Metro | Sodus |
| Year of Construction | 1985 |
| Units | 48 |
| Transaction Date | 2015-12-17 |
| Transaction Price | $1,250,000 |
| Buyer | SWIIRD PRESERVATION LLC |
| Seller | SODUS BENTON PLACE ESTATES LP |
7 Newark St, Sodus NY Multifamily Investment
Household growth within three miles points to a larger tenant base and supports neighborhood occupancy stability, according to WDSuite’s CRE market data.
Sodus is a rural neighborhood within the Rochester, NY metro, offering small-town fundamentals with car-oriented access to daily needs. Amenity availability is modest overall, though pharmacy access trends above national average. Restaurants are competitive versus many Rochester neighborhoods, but cafes, parks, and childcare options are limited, which can influence lifestyle appeal and leasing velocity at the margin.
Neighborhood occupancy is measured at the neighborhood level — not the property — and has trailed metro averages, though it has improved over the last five years based on CRE market data from WDSuite. Rents in the area are relatively low versus incomes (high national standing for rent-to-income), which can aid retention and reduce turnover risk, while also tempering near-term rent growth.
Within a 3-mile radius, recent population growth has been modest and households have expanded meaningfully, indicating smaller household sizes and a broader renter pool. Forward-looking estimates point to continued increases in both population and households by 2028, which supports demand for rental units and occupancy stability. Median household incomes in the neighborhood test above national midpoints, providing income headroom to support collections and pricing decisions.
Home values in the neighborhood are lower versus national norms, an ownership landscape that can create some competition with rentals; however, comparatively accessible ownership costs coexist with growing households, suggesting stable workforce housing demand. The average school rating in the area trends on the lower side nationally, which may affect family renter preferences, though relative positioning is more competitive within the Rochester metro. For investors prioritizing durable cash flow in a low-rent environment, this setting supports conservative underwriting and measured upside through operational execution and commercial real estate analysis.
Safety metrics are tracked at the neighborhood scale. For this location, WDSuite does not report a scored crime rank at the metro level, so comparative positioning versus Rochester neighborhoods is not available in this release. Investors can supplement on-the-ground diligence with regional benchmarking as new data becomes available from WDSuite to understand trend direction rather than block-level conditions.
The area draws from a regional employment base with commutable access to manufacturing, life sciences, and consumer goods employers, supporting workforce renter demand and lease retention. The employers below represent nearby demand drivers relevant to this property and the commute sheds that matter for tenants.
- Xerox Corporation document solutions (17.1 miles)
- Thermo Fisher Scientific life sciences (19.0 miles)
- Constellation Brands beverage producer (23.7 miles) HQ
- Wesco Distribution industrial distribution (30.0 miles)
Built in 1985, this 48-unit property is newer than much of the surrounding housing stock, positioning it competitively against older inventory while still leaving room for targeted modernization of systems and interiors. Neighborhood-level occupancy has improved over five years but trails metro norms; paired with a high national standing for rent-to-income, the submarket supports retention and steady collections. According to CRE market data from WDSuite, household expansion within a 3-mile radius and a forecast increase in both population and households through 2028 point to a larger tenant base and support for stable leasing.
Lower home values locally can introduce some competition from ownership alternatives, but they coexist with rising household counts and a workforce income profile that supports multifamily demand. Investors can underwrite to durable, needs-based housing dynamics with value-add potential tied to 1980s vintage updates and disciplined operations.
- 1985 vintage offers value-add potential while competing well against older neighborhood stock
- Neighborhood occupancy improving over five years supports stable cash flow expectations
- Expanding households within 3 miles indicate a growing renter pool and demand depth
- Low rent-to-income dynamics aid retention and collections management
- Risk: relatively low home values can compete with rentals; underwriting should assume measured rent growth