| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Best |
| Demographics | 58th | Good |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6860 Bolivar Rd, Chittenango, NY, 13037, US |
| Region / Metro | Chittenango |
| Year of Construction | 2007 |
| Units | 24 |
| Transaction Date | 2007-02-01 |
| Transaction Price | $80,000 |
| Buyer | HOUSING DEVELOPMENT CORP. CHITTENANGO |
| Seller | SULLIVAN FREE LIBRARY |
6860 Bolivar Rd, Chittenango NY — 24-Unit Multifamily Opportunity
2007-vintage asset in a competitive Syracuse-area suburb where neighborhood occupancy is around 93%, according to WDSuite’s CRE market data.
Located in an inner-suburb setting of the Syracuse, NY metro, the neighborhood is rated A and ranks 21 out of 247 metro neighborhoods — top quartile locally, per WDSuite. Everyday convenience is solid rather than destination-driven: grocery and pharmacies index above typical suburbs, parks and childcare sit in the 70s percentiles nationally, and the average school rating is 4.0 (7th of 247 in the metro and top quartile nationally). This mix supports day-to-day livability that helps retention without relying on premium, lifestyle amenities.
For investors, the rent and occupancy profile signals stability more than volatility. Neighborhood occupancy is in the low 90s and has trended higher over the past five years, while rent-to-income is near 0.11 — an indicator of manageable affordability pressure that can aid lease renewal and reduce turnover risk. Home values around the neighborhood sit near the lower half of national comparisons, suggesting a more accessible ownership market than coastal metros; that context can temper pricing power, so asset strategy should prioritize operational execution and targeted upgrades.
Tenure data points to a meaningful, if not dominant, renter base: the neighborhood s share of renter-occupied housing is roughly one-third, and within a 3-mile radius the renter-occupied share is just under one-third. This supports a steady multifamily demand pool without overreliance on transient renters. Demographic statistics aggregated within a 3-mile radius show the area has expanded in recent years; looking ahead, projections indicate continued growth in households alongside smaller average household sizes, which generally expands the renter pool and supports occupancy stability.
Vintage matters here: the submarket s average construction year skews older (1960s), so a 2007 asset offers competitive positioning versus legacy stock. That newer vintage can help on capex and leasing versus older comparables, while still leaving room for selective modernization to capture rent premiums where supported by the submarket.
Comparable, neighborhood-level crime metrics are not available in this data release. Investors typically benchmark safety using Syracuse metro indices alongside recent municipal reports and property-level history to understand trend direction and relative standing.
Given the family-oriented amenities and school strength in the immediate area, many owners frame safety diligence around tenant profile, lighting and access controls, and local policing engagement, rather than block-specific claims. Use consistent, apples-to-apples metro comparisons when underwriting.
Regional employers within commuting distance help underpin renter demand for workforce and professional households, notably ADP (payroll and HR services), WestRock (packaging), and Frontier Communications (telecommunications).
- ADP Syracuse — payroll & HR services (16.0 miles)
- WestRock — packaging (16.5 miles)
- Frontier Communications — telecommunications (32.3 miles)
6860 Bolivar Rd offers a 2007 construction profile in a Syracuse-area neighborhood that ranks in the metro s top quartile, with schools also ranking near the top locally. Occupancy in the surrounding neighborhood sits in the low 90s and has improved over five years, supporting a case for steady cash flow. The rent-to-income relationship suggests limited affordability pressure relative to many metros, which can aid retention; at the same time, more accessible ownership costs mean pricing should be earned through quality, convenience, and targeted upgrades rather than aggressive markups.
Based on multifamily property research from WDSuite, a 3-mile view shows household growth ahead and smaller household sizes, both of which tend to expand the renter base and support leasing stability. Given the neighborhood s older housing stock on average, a 2007 asset is relatively competitive versus legacy inventory, with scope for selective modernization to capture incremental rent where demand supports it.
- Occupancy around the low-90s with upward five-year trend supports stability
- 2007 vintage stands out versus 1960s-average stock, aiding leasing and capex planning
- 3-mile outlook points to household growth and a larger renter pool, reinforcing demand
- Risk: accessible homeownership can cap pricing power—execution and targeted upgrades are key