| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Best |
| Demographics | 51st | Fair |
| Amenities | 13th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2984 US Route 11, La Fayette, NY, 13084, US |
| Region / Metro | La Fayette |
| Year of Construction | 2004 |
| Units | 80 |
| Transaction Date | 2005-09-19 |
| Transaction Price | $4,000,000 |
| Buyer | WILLOW WOOD APT LLC |
| Seller | SEDGEWICK PROP ASSOC LL C |
2984 US Route 11, La Fayette NY Multifamily Investment
Neighborhood occupancy is fully stabilized according to WDSuite’s CRE market data, suggesting resilient renter demand and steady leasing dynamics in this Syracuse metro rural submarket.
Set in a rural pocket of the Syracuse, NY metro, the neighborhood scores a B rating and trends near the metro median (103 of 247 neighborhoods), with a living environment defined by open space and limited retail clustering. Amenities are thinner than urban cores, so residents typically rely on nearby corridors and Syracuse employment nodes for shopping and services. Average school ratings sit around the national midpoint, signaling stable but not destination-oriented education options for family renters.
For investors, the neighborhood’s housing stock shows full neighborhood occupancy, which supports lease retention and minimizes downtime. Median contract rents sit in a range consistent with household incomes, and the rent-to-income ratio indicates manageable affordability pressure that can help sustain occupancy while allowing for disciplined revenue management.
Tenure skews owner-occupied locally, with a modest share of renter-occupied housing units. Within a 3-mile radius, recent population and household growth, along with forecasts calling for additional household expansion by 2028, point to a larger tenant base over time. That trajectory, paired with rising household incomes in the 3-mile area, suggests renter pool expansion that can support occupancy stability. These dynamics align with investor takeaways highlighted by WDSuite’s multifamily property research.
Home values in the area are lower than many coastal markets, creating a high-cost ownership market relative to incomes only in select subareas; in practical terms, this sustains steady rental reliance without undue affordability pressure. Given the rural setting and thinner amenity density, leasing strength is more closely tied to commute convenience, property quality, and on-site services than to walkable retail.
Safety indicators are mixed but broadly around metro and national midpoints. Overall crime trends place the neighborhood near the Syracuse metro median (117 of 247 neighborhoods), with national comparisons suggesting conditions around the middle of the pack. Violent-offense metrics benchmark stronger than many areas nationally (upper-half percentile), while property-offense indicators sit near national averages.
Year-over-year volatility can occur at small geographies, and recent shifts in violent-offense rates warrant routine monitoring as part of standard asset and operations planning. Investors generally consider property-level security measures, lighting, and resident engagement to help maintain stability relative to regional patterns.
Proximity to regional corporate offices supports renter demand from commuting professionals. The employment base includes packaging, payroll/HR services, and telecommunications operations within a practical drive of the property.
- WestRock — packaging (11.1 miles)
- ADP Syracuse — payroll & HR services (13.5 miles)
- Frontier Communications — telecommunications offices (35.4 miles)
Built in 2004, the 80-unit asset is newer than much of the surrounding housing stock, providing a competitive edge versus older inventory and potentially lower near-term capital needs, while still benefiting from targeted modernization to enhance positioning. Based on commercial real estate analysis from WDSuite, neighborhood occupancy remains fully stabilized and rent levels align with incomes, supporting cash flow durability in a rural setting where leasing performance hinges on property quality and commute access.
Demand fundamentals are reinforced by a 3-mile radius showing recent growth in population and households, with forecasts pointing to additional household gains and a larger renter pool through 2028. The area’s owner-leaning tenure limits immediate saturation risk from new rentals, while income growth and manageable rent-to-income levels support retention and measured pricing power.
- 2004 vintage offers competitive positioning versus older neighborhood stock, with selective value-add potential
- Full neighborhood occupancy supports steady leasing and cash flow stability
- 3-mile population and household growth signal a larger tenant base and renter pool expansion
- Income levels and manageable rent-to-income ratios aid retention and disciplined rent management
- Risks: thinner amenity density, owner-leaning tenure, and safety metric volatility require active asset and operations management