| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 41st | Best |
| Demographics | 64th | Good |
| Amenities | 40th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9462 Chalkstone Crse, Brewerton, NY, 13029, US |
| Region / Metro | Brewerton |
| Year of Construction | 1987 |
| Units | 36 |
| Transaction Date | 2010-08-18 |
| Transaction Price | $1,423,190 |
| Buyer | BAYSHORE HOUSING DEVELOPM FUND CORP AS NOMINE |
| Seller | BAYSHORE NORTH APARTMENTS E III |
9462 Chalkstone Crse Brewerton Multifamily Opportunity
Renter-occupied housing makes up roughly a third of nearby units, supporting a steady tenant base at the neighborhood level, according to WDSuite’s CRE market data. Occupancy trends are around the metro middle, pointing to stable operations with disciplined leasing and renewals.
The property sits in an A-rated neighborhood in the Syracuse metro, ranking 35 out of 247 neighborhoods—top quartile among the metro’s sub-areas—based on WDSuite’s CRE market data. Local essentials are accessible, with grocery and restaurant density roughly around national midpoints, while pharmacies score stronger (upper-half nationally). Cafes and childcare are thinner, typical of a rural setting.
Schools average around 4.0 out of 5 (ranked 7 of 247), placing the area among the stronger school clusters in the Syracuse region. For investors, this can support family-oriented renter demand and lease retention.
Construction vintage skews newer than the neighborhood average: the asset was built in 1987 versus a local mean around the early 1970s. Newer stock can compete well against older comparables, though investors should still underwrite for ongoing system upkeep and selective modernization.
Tenure data indicates a renter-occupied share near 30% at the neighborhood level, signaling a meaningful, albeit not dominant, rental pool. Within a 3-mile radius, population and household counts have been growing, with projections pointing to further household expansion alongside slightly smaller average household size—factors that can enlarge the tenant base and support occupancy stability. Home values sit in a moderate range for the region, which may create some competition from ownership; however, relatively low rent-to-income ratios suggest room for measured rent growth with thoughtful lease management.
Safety indicators for the neighborhood are broadly around the metro middle (crime rank 128 out of 247 Syracuse neighborhoods). Compared with neighborhoods nationwide, the area sits below the safety median, but recent trends show improvement: estimated property offenses declined year over year, placing that improvement in the upper half of national neighborhoods. Investors should frame underwriting around average regional conditions while noting the recent downward momentum in property-related incidents.
Nearby corporate offices provide employment breadth that supports renter demand and commute convenience, notably in business services and manufacturing. The list below highlights key employers within a practical drive of the property.
- ADP Syracuse — payroll & HR services (9.1 miles)
- WestRock — packaging & paper products (12.0 miles)
This 36-unit property, built in 1987, benefits from a neighborhood that ranks in the metro’s top quartile and from a renter base that comprises roughly a third of local housing units. According to CRE market data from WDSuite, occupancy at the neighborhood level is near the metro midpoint, suggesting a foundation for stable operations with attention to renewals and leasing. The asset’s newer-than-average vintage provides competitive positioning versus older local stock, with selective upgrades offering potential to enhance rents and retention.
Within a 3-mile radius, population and households have grown and are projected to continue rising, expanding the renter pool even as household sizes trend slightly smaller. Affordability indicators, including a low rent-to-income profile, support retention and measured pricing power, though moderate home values imply some competition from ownership options. Investors should balance value-add plans with conservative assumptions around amenity-light, rural dynamics and an ownership-leaning tenure mix.
- A-rated neighborhood in top quartile of 247 metro areas supports leasing stability
- 1987 vintage offers competitive position versus older local stock with targeted upgrade upside
- Growing 3-mile population and households point to a larger tenant base and occupancy support
- Favorable rent-to-income dynamics aid retention and disciplined rent growth management
- Risk: rural amenity depth and accessible ownership options may temper premium rent potential