| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Best |
| Demographics | 58th | Good |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 500 W Genesee St, Chittenango, NY, 13037, US |
| Region / Metro | Chittenango |
| Year of Construction | 1995 |
| Units | 62 |
| Transaction Date | 1993-11-30 |
| Transaction Price | $60,000 |
| Buyer | HICKORY HILLS APTS INC |
| Seller | HOOTER DEV INC |
500 W Genesee St Chittenango Multifamily Investment
The surrounding neighborhood shows above-median occupancy and a balanced renter base that supports steady leasing, according to WDSuite’s CRE market data. This positioning can help underpin income stability while leaving room for selective value-add plays.
Chittenango’s inner-suburban setting ranks 21 out of 247 Syracuse neighborhoods (A rating), placing it in the top quartile locally for overall livability and investment fundamentals. Schools average about 4.0 out of 5 (7th of 247; top quartile nationally), which tends to support family-oriented renter demand and longer tenancy.
Amenity access is competitive for a smaller suburb: groceries and pharmacies track above national medians, parks access is also above average, while cafés are limited and restaurants are moderate. This mix suggests everyday convenience for residents without the premium pricing seen in denser urban nodes, a combination that can aid retention. The neighborhood’s COVID resilience indicators also score above national medians, pointing to relative stability through cycles.
Occupancy in the neighborhood is above the metro median and has trended higher over the last five years, while the share of renter-occupied housing (~one-third) indicates a meaningful yet not saturated tenant base. With a rent-to-income ratio near 0.11, the area exhibits low affordability pressure by national standards, which can support lease renewal rates though it may temper outsized rent growth. Median home values are moderate for the region, implying that ownership is relatively accessible and that multifamily operators should emphasize product quality, convenience, and professional management to compete effectively.
Within a 3-mile radius, WDSuite shows strong recent population and household growth with additional household gains forecast alongside smaller average household sizes. That pattern typically expands the renter pool and supports occupancy stability. These dynamics, paired with above-median neighborhood ratings and family-oriented amenities, provide a constructive backdrop for multifamily property research.
Neighborhood-level crime metrics were not available in WDSuite for this location. Investors typically benchmark conditions against the broader Syracuse metro and review municipal sources for recent trends before underwriting security provisions and operating expenses.
Regional employers provide a commuting base that supports renter demand and retention, led by corporate offices within 16–32 miles that draw a stable workforce to the Syracuse area.
- ADP Syracuse — corporate offices (15.7 miles)
- WestRock — corporate offices (16.0 miles)
- Frontier Communications — corporate offices (32.1 miles)
Built in 1995, the property is newer than much of the area’s housing stock, offering competitive positioning versus older inventory while still warranting mid-life system updates and cosmetic upgrades as part of capital planning. Neighborhood occupancy sits above the metro median with an upward multi-year trend, and the renter-occupied share indicates a sufficiently deep tenant base for a 62-unit asset.
Within a 3-mile radius, recent population and household gains—alongside forecasts for additional household growth and smaller household sizes—point to a larger renter pool and durable leasing. Affordability indicators (including a low rent-to-income ratio) support retention and steady absorption, according to CRE market data from WDSuite, though moderate home values suggest some competition from ownership, placing a premium on management quality and product differentiation.
- 1995 vintage offers competitive positioning with targeted value-add and mid-life system upgrades
- Above-metro occupancy and upward trend support income stability
- 3-mile radius shows household growth and smaller sizes, expanding the renter pool
- Favorable rent-to-income dynamics support retention and leasing velocity
- Risk: relatively accessible ownership options require competitive amenities and management to sustain pricing power