| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 26th | Poor |
| Demographics | 51st | Fair |
| Amenities | 58th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3462 Conifer Dr, Canastota, NY, 13032, US |
| Region / Metro | Canastota |
| Year of Construction | 1999 |
| Units | 32 |
| Transaction Date | 1998-06-30 |
| Transaction Price | $54,000 |
| Buyer | BASELINE INC |
| Seller | ROMAGNOLI ALBANESE ALTA MURO |
3462 Conifer Dr, Canastota — 32-Unit 1999 Multifamily
In a primarily owner-occupied neighborhood, local occupancy and a moderate renter-occupied share point to steady workforce housing demand, according to WDSuite’s CRE market data.
The property sits in a rural pocket of the Syracuse, NY metro that ranks 53 out of 247 neighborhoods, placing it in the top quartile locally with an A- neighborhood rating (per WDSuite). That standing reflects balanced livability indicators rather than rapid growth, with investor takeaways oriented toward stable operations over outsized appreciation.
Daily-needs access is relatively strong for a rural area: grocery and restaurant density trends above national midpoints, and cafes and parks also track above average. School quality is above the national midpoint as well. However, pharmacy access is thin, which may modestly affect some renter preferences and errand convenience.
Neighborhood housing dynamics indicate a smaller renter base: renter-occupied units account for roughly a quarter to a third of housing, supporting demand for well-managed workforce housing but requiring targeted leasing. Neighborhood occupancy trends trail national leaders, so investors should underwrite to prudent lease-up and renewal assumptions rather than aggressive absorption.
Within a 3-mile radius, demographics suggest a shifting composition: population is projected to soften while total households rise and average household size declines. That pattern often supports demand for 1–2 bedroom layouts and can aid occupancy stability by expanding the pool of smaller households, even as overall headcount trends lower. Median rents benchmark as relatively affordable versus incomes locally, which can support retention and limit turnover pressure.
Ownership costs are comparatively accessible versus many U.S. markets, which can introduce competition from for-sale options. For multifamily operators, this typically emphasizes the importance of value, convenience, and professional management to sustain pricing power and retention in an ownership-leaning context.
Neighborhood-level public safety benchmarks are not available for this area in WDSuite at this time. Investors should supplement this commercial real estate analysis with municipal reports and time-of-day site visits to gauge conditions, focusing on trends across the broader Syracuse, NY metro rather than block-level conclusions.
Regional employment anchors within commuting range include corporate offices in payroll/HR services, packaging, and telecommunications. These employers support renter demand through steady white- and blue-collar jobs and reasonable drive-time access.
- ADP Syracuse — payroll/HR services (22.5 miles)
- WestRock — packaging (23.2 miles)
- Frontier Communications — telecommunications offices (29.5 miles)
Built in 1999, this 32-unit asset is materially newer than much of the surrounding housing stock, offering competitive positioning versus older properties while leaving room for selective modernization to support rent and retention. The neighborhood ranks in the top quartile among 247 Syracuse metro neighborhoods, with daily-needs amenities and schools trending above national midpoints, according to CRE market data from WDSuite.
Investor underwriting should balance several dynamics: a smaller renter-occupied share implies a narrower tenant pool, but relatively affordable rent-to-income levels can support renewal rates and stable collections. Demographic patterns within 3 miles point to fewer residents but more households and smaller household sizes, which can underpin demand for 1–2 bedroom units. Neighborhood occupancy trends are not market-leading, so conservative lease-up assumptions and strong management execution remain key.
- 1999 vintage positions the asset competitively versus older neighborhood stock, with selective value-add potential
- Top-quartile neighborhood standing in the Syracuse metro with above-median amenity and school indicators
- Affordable rent-to-income dynamics support tenant retention and collections
- 3-mile demographics show rising household counts and smaller sizes, favoring 1–2 bedroom demand
- Risk: owner-leaning tenure and non-leading neighborhood occupancy require focused leasing and service quality