| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 41st | Best |
| Demographics | 64th | Good |
| Amenities | 40th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9458 Chalkstone Crse, Brewerton, NY, 13029, US |
| Region / Metro | Brewerton |
| Year of Construction | 1990 |
| Units | 36 |
| Transaction Date | 2010-08-18 |
| Transaction Price | $1,459,684 |
| Buyer | BAYSHORE HOUSING DEVELOPM UND CORP AS NOMINEE |
| Seller | BAYSHORE NORTH APARTMENTS E IV |
9458 Chalkstone Crse Brewerton Multifamily Investment
Positioned in an A‑rated neighborhood of the Syracuse metro, this 36‑unit asset targets durable occupancy and steady renter demand, according to WDSuite’s CRE market data. The submarket’s ownership tilt and manageable rent burden point to retention potential with disciplined lease management.
Neighborhood standing is competitive within the Syracuse region: the area ranks 35th among 247 metro neighborhoods (top quartile) with an A rating. For investors, that signals balanced livability and demand drivers relative to the broader metro rather than outsized volatility.
Daily‑needs access is serviceable for a rural profile, with pharmacies comparatively strong versus national peers (upper‑quartile percentile) and grocery and restaurant access near national midpoints. Cafés and childcare density are thinner, which is typical for low‑density areas and should be considered in positioning and amenity programming.
Schools in the neighborhood score well (average rating near the top quartile nationally), a factor that can support family‑oriented renter demand and longer tenure. Neighborhood occupancy is around the national midpoint; investors should view it as supportive of leasing stability rather than a lease‑up catalyst, with performance calibrated to local fundamentals rather than metro outperformance. All occupancy metrics referenced here describe the neighborhood, not the property.
Tenure patterns skew ownership‑heavy with roughly 30% of housing units renter‑occupied in the neighborhood. That indicates a defined but not oversupplied renter pool, favoring steady absorption for well‑maintained product and reducing turnover risk in stabilized operations.
Within a 3‑mile radius, population and household counts have expanded in recent years with forecasts indicating continued household growth and slightly smaller household sizes. This points to a gradually expanding tenant base, which, together with income gains, supports occupancy stability and measured rent growth potential. Elevated home values for the area are moderate in a national context, which can create some competition from ownership, yet the local rent‑to‑income profile suggests manageable affordability pressure for renters.
Safety metrics are mixed in comparative terms. The neighborhood sits slightly below the metro median on crime (ranked 128 out of 247 Syracuse‑area neighborhoods) and trends closer to the national midpoint by percentile. Recent data indicate a year‑over‑year easing in property offenses, which is constructive for operational risk management, while violent‑crime measures remain near national midrange levels. As always, investors should underwrite to submarket norms and property‑level mitigation.
Nearby employers provide regional stability and commuting convenience that can support renter retention, notably business services and packaging operations reflected below.
- ADP Syracuse — payroll & HR services (9.1 miles)
- WestRock — paper & packaging (12.0 miles)
Built in 1990, the property is newer than much of the surrounding housing stock, offering competitive positioning versus older inventory while leaving room for targeted modernization of systems and finishes over time. The neighborhood’s A rating (top quartile among 247 metro neighborhoods) and ownership‑leaning tenure support a durable renter pool rather than transitory demand. According to CRE market data from WDSuite, neighborhood occupancy trends sit near national midrange, and local rent burdens appear manageable—factors that favor retention and cash‑flow stability with disciplined lease management.
Within a 3‑mile radius, recent growth in population and households, alongside projections for further household expansion and smaller household sizes, indicates a gradually enlarging tenant base. Homeownership remains attainable relative to incomes, so underwriting should account for some competition from ownership alternatives, yet the area’s income trajectory and established schools help sustain steady demand for well‑located multifamily.
- 1990 vintage offers competitive positioning versus older stock with selective value‑add potential
- A‑rated neighborhood (top quartile in the Syracuse metro) supports stable occupancy
- 3‑mile growth and smaller household sizes expand the renter pool and support retention
- Manageable renter affordability supports lease stability and prudent rent management
- Risks: below‑median metro safety metrics and moderate competition from ownership options