| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Good |
| Demographics | 58th | Good |
| Amenities | 32nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 501 Edgerton St, Minoa, NY, 13116, US |
| Region / Metro | Minoa |
| Year of Construction | 1973 |
| Units | 100 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
501 Edgerton St Minoa 100-Unit Value-Add Multifamily
Neighborhood metrics point to high occupancy and manageable rent-to-income levels for the surrounding area, supporting stable leasing dynamics; according to WDSuite’s commercial real estate analysis, these signals reflect the broader neighborhood rather than the property itself.
Set within the Syracuse, NY metro, the surrounding neighborhood carries a B+ rating and ranks 69 out of 247 neighborhoods, making it competitive among Syracuse neighborhoods. Based on CRE market data from WDSuite, neighborhood occupancy trends are above the metro median and have strengthened over the last five years, which supports pricing discipline and lease retention for multifamily assets nearby.
Renter concentration in the neighborhood is relatively low (about 14% of housing units are renter-occupied), indicating an owner-occupied landscape. For investors, this often translates to a smaller but generally stable tenant base, with the 3-mile area showing household growth and rising incomes that can underpin steady demand for well-positioned rentals.
Within a 3-mile radius, population and household counts have increased in recent years, and projections point to further growth and higher incomes over the next five years. This expansion suggests a gradually larger tenant base and supports occupancy stability, even as the area remains primarily owner-occupied.
Local amenities are mixed: restaurant density is reasonable for a suburban setting, while cafes, grocery, and park access are thinner. Average school ratings hover around the national middle. For multifamily owners, this profile typically aligns with workforce housing demand, where commute convenience and in-unit quality can outweigh amenity scarcity.
Safety outcomes are mixed in a metro context but solid relative to national comparisons. The neighborhood’s crime rank places it below the metro median among 247 Syracuse neighborhoods, yet national percentiles indicate performance that is better than many areas across the country. Year over year, both property and violent offense estimates have declined, with improvement rates landing in the stronger tiers nationally, according to WDSuite’s CRE market data.
For investors, the recent downward trend in offense estimates points to improving conditions rather than a guarantee of low risk. Framing safety at the neighborhood level is appropriate for underwriting; block-level variation can be meaningful, so property-specific measures and lighting, access control, and ongoing monitoring remain prudent.
Nearby employment anchors include ADP, WestRock, and Frontier Communications, providing a diversified base in payroll/HR technology, packaging, and telecom. Their regional presence supports renter demand through steady white- and blue-collar employment and manageable commute times.
- ADP Syracuse — payroll & HR technology (9.4 miles)
- WestRock — packaging & paper (10.0 miles)
- Frontier Communications — telecommunications (37.6 miles)
Built in 1973 with approximately 100 units, the property offers scale for operational efficiency and a clear value-add path through targeted renovations and systems upgrades typical for this vintage. Neighborhood occupancy is strong and has improved over time, which supports leasing stability even as the area’s renter concentration remains low. According to CRE market data from WDSuite, rent-to-income levels in the surrounding neighborhood are manageable, aiding retention while suggesting measured rent growth strategies.
Within a 3-mile radius, recent population and household growth—and projections calling for further increases alongside higher incomes—point to a gradually expanding renter pool. Ownership remains comparatively accessible in the area, which can create competition with for-sale housing; in this context, differentiated unit finishes, parking, and professional management are key to capturing demand and sustaining occupancy.
- 1973 vintage supports value-add through interior upgrades and building systems planning
- Strong neighborhood occupancy and improving trends support leasing stability
- 3-mile radius shows growth and rising incomes, expanding the tenant base over time
- Scale of ~100 units enables operating efficiencies and professional management
- Risks: owner-heavy area and accessible homeownership may limit depth of renter demand; amenities are thinner and warrant emphasis on in-unit quality and convenience