| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 41st | Best |
| Demographics | 64th | Good |
| Amenities | 40th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9467 Chalkstone Crse, Brewerton, NY, 13029, US |
| Region / Metro | Brewerton |
| Year of Construction | 1978 |
| Units | 48 |
| Transaction Date | 2010-08-18 |
| Transaction Price | $1,996,073 |
| Buyer | BAYSHORE HOUSING DEVELOPM UND CORP. AS NOMINE |
| Seller | BAYSHORE NORTH APARTMENTS |
9467 Chalkstone Crse Brewerton Multifamily Opportunity
Steady renter demand and relatively low rent-to-income levels suggest room for durable occupancy and disciplined pricing, according to WDSuite’s CRE market data. Neighborhood fundamentals are balanced rather than flashy, which can suit investors seeking predictable performance over outsized volatility.
Neighborhood
Situated in the Syracuse metro’s Brewerton area (rural neighborhood type), the property benefits from a tenant base supported by solid household incomes and above-median neighborhood quality. The location is competitive among Syracuse neighborhoods (rank 35 of 247; rating A), indicating locally attractive livability for workforce renters without the premiums seen in core urban submarkets.
Schools in the area are a relative strength, with average ratings placing the neighborhood in the top quartile nationally, which can aid leasing and retention for family-oriented renters. Daily needs are reasonably served by groceries and pharmacies near the metro median, while cafes and childcare options are thinner; investors should plan marketing and amenity strategies accordingly rather than rely on walk-up demand.
The property’s 1978 construction is slightly newer than the neighborhood’s average vintage. That positioning can be competitive versus older stock, while still warranting targeted modernization and system upgrades to sustain rentability over the hold. Neighborhood occupancy trends sit around the national midpoint, supporting a stable, rather than overheated, leasing environment.
Within a 3-mile radius, recent population and household growth, along with forecasts pointing to further household gains, signal a gradually expanding renter pool. Coupled with elevated home values for the region and a low rent-to-income burden, the market context supports retention and measured rent growth. This setting aligns with pragmatic commercial real estate analysis focused on durable cash flow rather than speculative appreciation.
Safety
Safety indicators for the neighborhood are mixed but broadly in the metro middle. The neighborhood’s crime ranking sits near the midpoint among 247 Syracuse neighborhoods, and national comparisons place it below the median for safety.
Trend-wise, property offenses have been moving lower year over year, which is a constructive signal. At the same time, recent violent offense readings showed some upward movement. For underwriting, investors may assume metro-average security posture, monitor trends each quarter, and calibrate on-site measures to support resident retention.
Employers
Proximity to established employers supports commuter convenience and helps anchor renter demand, particularly for workforce households. Nearby corporate offices include ADP Syracuse and WestRock.
- ADP Syracuse — payroll & HR services (9.1 miles)
- WestRock — paper & packaging (12.0 miles)
Why Invest
This 48-unit 1978 asset offers balanced exposure to a metro-competitive neighborhood with solid schools, mid-pack occupancy, and an expanding 3-mile household base that supports a larger tenant pool over time. The ownership landscape shows elevated home values for the region and low rent-to-income levels, reinforcing renter reliance on multifamily housing and aiding lease retention.
According to CRE market data from WDSuite, neighborhood quality ranks above the metro median while amenities are serviceable rather than dense—conditions that favor well-managed assets with practical upgrades. The vintage suggests defensible positioning versus older comparables, with value-add via unit refreshes and building systems planning to sustain competitiveness.
- Neighborhood quality competitive within Syracuse, aiding leasing stability
- Low rent-to-income burden supports retention and disciplined rent management
- 1978 vintage offers modernization and value-add upside versus older stock
- Expanding 3-mile household base points to a gradually larger renter pool
- Risk: thinner amenity density and mid-pack safety require attentive asset management