| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Best |
| Demographics | 42nd | Fair |
| Amenities | 25th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 580 Seneca St, Oneida, NY, 13421, US |
| Region / Metro | Oneida |
| Year of Construction | 1975 |
| Units | 48 |
| Transaction Date | 2018-02-28 |
| Transaction Price | $3,759,000 |
| Buyer | 48 ONEIDA PROPERTIES LLC |
| Seller | ONEIDA GARDENS LLC |
580 Seneca St, Oneida NY Multifamily Investment
Neighborhood fundamentals point to stable renter demand, with occupancy measured at the neighborhood level performing in the top quartile nationally according to WDSuite’s CRE market data. The area’s renter-occupied share indicates a deep tenant base, supporting day-to-day leasing and retention.
Positioned in Oneida’s Inner Suburb, this B- rated neighborhood ranks 123 out of 247 within the Syracuse metro, placing it around the metro median. Occupancy is a relative strength: the neighborhood sits in the top quartile nationally and ranks 34 of 247 locally, a favorable backdrop for maintaining stable collections and lower downtime between turns.
Tenant demand is supported by a high renter-occupied share (52.9%), which ranks 19 out of 247 metro neighborhoods. For investors, this indicates depth in the local renter pool and potential resilience in day-to-day leasing even as cycles turn. Rent-to-income sits near the national middle, which can help manage affordability pressure and support lease retention.
Livability signals are mixed. Restaurants per square mile rank above the metro median (62 of 247), while cafes, grocery, parks, and pharmacies are thinner locally, which may modestly affect walkable convenience. Average school ratings are above the metro median (34 of 247) and roughly middle-of-the-pack nationally, aligning with a broad workforce tenant profile.
Home values in the neighborhood are lower relative to many markets, which can introduce some competition from ownership. Even so, the strong renter concentration and high neighborhood occupancy suggest multifamily remains a relied-upon housing option. The property’s 1975 vintage is newer than much of the surrounding housing stock (average year built skews older), offering relative competitiveness versus older buildings, though investors should still plan for system updates and modernization typical of assets of this age.
Within a 3-mile radius, demographics indicate stable population and a projected increase in households through the forecast period, pointing to smaller average household sizes. For multifamily owners, more households on a stable population base can translate to a larger tenant base and support for occupancy over time, though the renter share could moderate as ownership remains accessible.
Neighborhood-level crime data for this area is not available in WDSuite for the current period. Without verified figures, investors typically benchmark safety using broader regional trends and on-the-ground diligence, comparing observed conditions to nearby Syracuse-metro neighborhoods.
Given the absence of a current rank or percentile, prudent underwriting would incorporate standard measures such as reviewing recent public reports, assessing property-level security features, and confirming tenant feedback to contextualize operating risk.
The employment base within commuting distance includes several corporate offices that help anchor regional white- and blue-collar demand. These employers contribute to a broader workforce housing pool and support leasing stability for assets serving commuters.
- ADP Syracuse — corporate offices (27.2 miles)
- WestRock — corporate offices (28.0 miles)
- Frontier Communications — corporate offices (28.5 miles)
This 48-unit, 1975-vintage asset benefits from a neighborhood with top-quartile occupancy and a high renter-occupied share, supporting day-to-day leasing stability. The building’s vintage is newer than much of the surrounding stock, which can offer a competitive edge versus older properties while still leaving room for targeted system upgrades and value-add modernization. Based on commercial real estate analysis using WDSuite as the data source, the area’s rent-to-income sits near the national middle, a constructive setup for retention and steady collections.
Livability signals are mixed—restaurants are reasonably accessible while other conveniences are thinner—but a stable 3-mile population base with households projected to increase suggests a larger tenant base over time, even as renter concentration may gradually moderate. Home values are relatively accessible by national standards, which introduces some competition from ownership; however, current renter depth and strong neighborhood occupancy continue to underpin multifamily demand.
- Top-quartile neighborhood occupancy supports leasing stability and collections.
- High renter-occupied share indicates depth in the local tenant base.
- 1975 vintage is newer than much of the area’s stock, with value-add potential via modernization.
- Household growth within 3 miles can expand the renter pool and support occupancy.
- Risks: thinner nearby amenities and more accessible ownership may create competition for some renter cohorts.