| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Best |
| Demographics | 42nd | Fair |
| Amenities | 25th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 433 W Railroad St, Oneida, NY, 13421, US |
| Region / Metro | Oneida |
| Year of Construction | 1975 |
| Units | 30 |
| Transaction Date | 2014-09-25 |
| Transaction Price | $210,000 |
| Buyer | MYFUN PROPERTIES LLC |
| Seller | HARDEN FURNITURE INC |
433 W Railroad St Oneida Multifamily Investment
Neighborhood occupancy is elevated and renter demand appears durable for workforce housing, according to WDSuite’s CRE market data. The investment case centers on stable tenancy in an inner-suburban location within the Syracuse metro.
The property sits in Oneida’s inner-suburban fabric within the Syracuse, NY metro and scores above the metro median among 247 neighborhoods (B- neighborhood rating). At the neighborhood level (not the property), occupancy trends are strong and sit in the top decile nationally, based on CRE market data from WDSuite, indicating steady leasing conditions that can support income stability.
Renter-occupied share in the neighborhood is high, providing a deeper tenant base for a 30-unit asset and helping underpin leasing velocity. Median rent levels are modest relative to incomes (rent-to-income near the national mid-point), suggesting manageable affordability pressure that can aid retention while moderating near-term pricing power.
Livability and amenities: local amenities score below national averages, with limited cafes, groceries, parks, and pharmacies nearby, though restaurant density is comparatively better. Average public school ratings track around the national mid-point. These dynamics point to a largely car-oriented setting, which may appeal to value-conscious renters more than lifestyle-seeking cohorts.
3-mile demographics: data aggregated within a 3-mile radius indicate population is broadly stable with a projected increase in households through the forecast period and a trend toward smaller household sizes. For multifamily owners, this typically means a larger tenant base over time and support for occupancy stability, even if per-household space needs shift modestly.
Ownership landscape: home values in the neighborhood sit on the lower end versus national benchmarks. In practice, a more accessible ownership market can introduce competition for some renter segments, but it also supports value-oriented rental positioning and can improve lease retention where renting remains the more flexible option.
Neighborhood-level crime metrics are not available in WDSuite for this area at this time. Investors often benchmark safety perceptions against city and county patterns and monitor trend lines rather than single-year snapshots to understand operational risk. Where data are limited, prudent underwriting typically emphasizes resident screening, lighting and visibility, and coordination with local public-safety programs.
Regional employment access is driven by Syracuse-area corporate offices that are within commuting distance and support workforce housing demand. Notable employers include ADP (payroll/HR services), WestRock (packaging), and Frontier Communications (telecom).
- ADP Syracuse — payroll & HR services (26.8 miles)
- WestRock — packaging (27.7 miles)
- Frontier Communications — telecommunications (29.5 miles)
Built in 1975, the asset is newer than much of the surrounding housing stock, which can offer a competitive edge versus older properties while still warranting attention to aging systems and selective modernization. At the neighborhood level (not the property), occupancy trends are strong and nationally competitive, supporting a thesis centered on durable cash flow. Rents remain modest relative to incomes, which can aid retention and reduce payment risk, per commercial real estate analysis from WDSuite.
3-mile data indicate steady population with an increase in households and smaller average household sizes over the next few years, expanding the renter pool and supporting occupancy stability. Balanced against these positives are modest amenity depth and a more accessible ownership market, which can temper rent growth and necessitate value-focused positioning.
- Neighborhood occupancy is strong and competitive nationally, supporting income stability.
- 1975 vintage offers relative competitiveness versus older local stock with targeted upgrades.
- Rents modest relative to incomes support retention and consistent collections.
- 3-mile household growth and smaller household sizes expand the tenant base.
- Risks: limited nearby amenities and a more accessible ownership market can constrain pricing power.