| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Good |
| Demographics | 58th | Good |
| Amenities | 32nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 500 Edgerton St, Minoa, NY, 13116, US |
| Region / Metro | Minoa |
| Year of Construction | 1977 |
| Units | 32 |
| Transaction Date | 2008-11-26 |
| Transaction Price | $832,000 |
| Buyer | VILLAGE SQUARE APTS LLC |
| Seller | SIBLINGS LLC |
500 Edgerton St, Minoa NY — 32-Unit Suburban Multifamily
Steady neighborhood occupancy and a suburban tenant base point to durable leasing, according to WDSuite’s CRE market data. Newer-than-area-average vintage offers competitive positioning with room for targeted upgrades.
Located in the Syracuse metro’s suburban fabric, the neighborhood carries a B+ rating and ranks 69th among 247 metro neighborhoods, positioning it above the metro median for overall performance. Occupancy in the surrounding neighborhood has remained high and trending upward, supporting lease stability for professionally managed multifamily.
The area skews more owner-occupied with a relatively low share of renter-occupied housing units, which can temper depth of the tenant base but often supports stable tenancy for workforce-oriented communities. Median contract rents sit around the metro middle and have risen over the past five years, while rent-to-income metrics indicate relatively modest affordability pressure—conditions that can aid retention and measured rent growth management.
Daily conveniences are present but not dense. Restaurants index around the metro middle, while pharmacies and childcare access rank above many neighborhoods nationally. Cafes, parks, and grocery options are sparser within the immediate neighborhood, so residents often rely on nearby corridors for broader retail—an acceptable tradeoff for investors prioritizing suburban stability over amenity saturation.
Within a 3-mile radius, population and households have grown in recent years, with projections pointing to additional household gains over the next five years—an indicator of a gradually expanding renter pool. Based on multifamily property research from WDSuite, the property’s 1977 construction is newer than the neighborhood’s older housing stock, strengthening competitive positioning versus legacy assets while still warranting capital planning for systems modernization and selective unit renovations.
Safety indicators compare favorably to many areas nationally, with the neighborhood landing above the U.S. median for overall safety. Within the Syracuse metro (247 neighborhoods), it performs competitively, reflecting a suburban context that tends to support resident retention and leasing consistency.
Recent trends show year-over-year declines in both violent and property offenses in the neighborhood, a positive direction for long-term operations. As always, investors should evaluate property-level security measures and monitor submarket trends as part of underwriting.
Proximity to regional employers supports commute convenience and leasing stability, with payroll and packaging operations anchoring nearby demand. The following organizations represent accessible employment nodes for residents.
- ADP Syracuse — payroll & HR services (9.4 miles)
- WestRock — packaging & paper products (10.1 miles)
- Frontier Communications — telecommunications (37.6 miles)
The investment case centers on high neighborhood occupancy, a suburban location with steady household growth within a 3-mile radius, and a 1977 vintage that is newer than much of the area’s housing stock. This combination supports predictable operations with potential to enhance yield through targeted interior and systems upgrades. Owner-tilted tenure suggests a thinner renter pool, but low rent-to-income readings indicate manageable affordability pressure that can aid retention and measured pricing power—particularly for well-managed, mid-market assets.
Home values in the area are comparatively accessible, which can create competition with entry-level ownership, yet the neighborhood’s stability and commuting access to Syracuse employment centers help sustain renter demand. According to commercial real estate analysis from WDSuite, neighborhood-level occupancy trends and improving safety indicators further reinforce prospects for consistent leasing, provided investors underwrite capital needs typical for late-1970s construction.
- High neighborhood occupancy supports stable cash flows
- 1977 vintage offers value-add via systems modernization and unit updates
- Suburban location near Syracuse employment nodes underpins demand
- Low rent-to-income signals manageable affordability pressure, aiding retention
- Risk: Owner-heavy tenure and limited nearby retail density can temper leasing velocity