| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 46th | Best |
| Demographics | 71st | Best |
| Amenities | 73rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8821 New Country Dr, Cicero, NY, 13039, US |
| Region / Metro | Cicero |
| Year of Construction | 1992 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
8821 New Country Dr, Cicero NY Multifamily Investment
Stabilized suburban location with high neighborhood occupancy supports income durability, according to WDSuite’s CRE market data. Investor focus is on steady renter demand in an owner-leaning area where pricing power ties to value and convenience rather than concessions.
Cicero’s suburban setting combines everyday conveniences with family-oriented services. Neighborhood amenities—including parks, pharmacies, groceries, and dining—score above national medians, with restaurants, cafes, and childcare density indicating day-to-day livability without urban congestion. Schools test above the national median as well, which helps sustain long-term neighborhood stability for workforce households.
From an investment lens, the neighborhood’s reported occupancy rate of 98.4% points to strong leasing velocity and limited downtime, based on CRE market data from WDSuite. Median contract rents are moderate for the metro, and the rent-to-income ratio near 0.09 suggests limited affordability pressure, which can aid retention and reduce turnover management intensity.
Tenure patterns signal an owner-leaning market: renter-occupied housing accounts for about one-fifth of neighborhood units and approximately one-sixth within a 3-mile radius. For multifamily owners, that implies a shallower—but often durable—tenant base concentrated among households that prefer rental flexibility or value convenience, with demand supported by nearby services and commuting access.
Demographic statistics aggregated within a 3-mile radius show a modest population dip in recent years alongside a small increase in households and a declining average household size. Forward-looking projections anticipate a return to population growth and a more noticeable increase in households, which expands the local renter pool and supports occupancy stability over a multi-year hold.
Safety indicators are mixed relative to national benchmarks. Property offenses sit in a low national percentile, indicating higher reported incidents compared with many U.S. neighborhoods, while violent offense measures fall closer to the national middle. Notably, both categories show recent year-over-year declines, suggesting improving momentum rather than deterioration.
Investors should underwrite to current conditions while recognizing the downward trend in estimated offense rates, and consider standard measures—lighting, access control, and resident engagement—that support retention and perception without relying on block-level assumptions.
Area employment is diversified across corporate services and packaging, supporting commuter-friendly renter demand. The employers below reflect nearby drivers that can underpin leasing and retention.
- ADP Syracuse — payroll & HR services (6.3 miles)
- WestRock — paper & packaging (9.0 miles)
Built in 1992, this 32-unit property is newer than much of the local housing stock, offering competitive positioning versus older inventory while leaving room for targeted modernization as systems age. Neighborhood occupancy is high and rents are moderate, and, according to WDSuite’s commercial real estate analysis, the low rent-to-income ratio points to manageable affordability pressure that can support renewal rates.
The area is owner-leaning today, but 3-mile projections call for household growth and smaller household sizes—both supportive of a gradually expanding renter pool. Balanced underwriting should also consider that accessible ownership costs can compete with rentals, making value, convenience, and upkeep central to pricing power.
- 1992 vintage offers relative competitiveness versus older stock with selective value-add upside
- High neighborhood occupancy and moderate rents support income stability and renewal potential
- 3-mile outlook projects household growth and a larger renter pool, supporting leasing over time
- Risk: owner-leaning tenure and relatively accessible ownership costs can constrain rent growth without strong property-level value