| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 46th | Best |
| Demographics | 71st | Best |
| Amenities | 73rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8365 Factory St, Cicero, NY, 13039, US |
| Region / Metro | Cicero |
| Year of Construction | 1990 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
8365 Factory St, Cicero NY — 40-Unit 1990 Vintage Multifamily
Stabilized renter demand in a suburban Syracuse submarket with top-quartile neighborhood occupancy, according to WDSuite’s CRE market data, supports durable cash flow with measured upside from strategic upgrades.
Cicero’s suburban profile combines everyday convenience and steady renter appeal. Neighborhood occupancy is in the top quartile among 247 Syracuse metro neighborhoods, indicating tight leasing conditions at the neighborhood level rather than at this specific property. Restaurants, parks, pharmacies, and grocery options benchmark in the 70–76th national percentiles, reinforcing livability for tenants and supporting leasing velocity.
Within a 3-mile radius, households have increased over the last five years while average household size has trended lower, pointing to more housing demand even with modest population movement. Forward-looking projections indicate additional household growth through 2028, which can translate into a larger tenant base and supports occupancy stability.
Home values sit below many coastal markets and a low value-to-income ratio reflects a relatively accessible ownership market for the region. For multifamily investors, this can mean selective competition from entry-level ownership; however, low rent-to-income ratios at the neighborhood level suggest limited affordability pressure for renters, aiding retention and giving operators room to manage rents through renewals rather than heavy turnover. School ratings trend above national norms and amenity access is competitive among Syracuse neighborhoods.
Constructed in 1990, the asset is newer than the neighborhood’s average vintage from the early 1970s. That relative youth typically improves competitive positioning versus older stock while still leaving room for modernizations (systems, interiors, and curb appeal) that can underpin a targeted value-add strategy grounded in commercial real estate analysis.
Safety indicators for the neighborhood track slightly below national norms overall, with results that are closer to the metro median when compared across Syracuse. Neighborhood-level property and violent offense rates have moved lower year over year, which is a constructive trend for investor risk management, but conditions can vary by micro-area and time of day.
Interpreting the local rank: the neighborhood’s crime rank sits near the middle among 247 Syracuse metro neighborhoods, not in the top (safest) quartile or the bottom (least safe) quartile. Nationally, the neighborhood compares below average for safety today, with recent declines in estimated incident rates offering a modest positive direction. Investors should underwrite with routine operating safeguards and monitor ongoing trend data.
- ADP Syracuse — payroll & HR services (5.9 miles)
- WestRock — packaging & paper products (8.7 miles)
Regional employment is diversified, with nearby corporate offices that help support renter demand through commute convenience and workforce stability. The list below highlights major employers within driving distance that align with the area’s tenant base.
This 40-unit property pairs a 1990 vintage with a suburban location where neighborhood occupancy ranks in the top quartile metro-wide, supporting stable leasing and renewal-driven performance. Based on CRE market data from WDSuite, the surrounding area shows strong amenity access, school ratings above national norms, and a low rent-to-income profile that can bolster retention. Newer-than-average vintage versus local stock suggests competitive positioning, with sensible capital plans around interiors and systems to capture incremental rent.
Within a 3-mile radius, households have grown and are projected to expand further while average household size declines, implying a larger tenant pool even as population trends are mixed. A relatively accessible ownership market may create some competition for renters, but steady incomes and tight neighborhood occupancy support demand for well-managed units.
- Tight neighborhood occupancy supports leasing stability and renewal-driven growth
- 1990 vintage out-positions older area stock with targeted value-add potential
- 3-mile household growth and smaller household sizes expand the renter base
- Low rent-to-income profile aids retention and operational flexibility
- Risk: Accessible ownership can compete with rentals; underwrite to conservative rent premiums