| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Best |
| Demographics | 91st | Best |
| Amenities | 42nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 79 Fennell St, Skaneateles, NY, 13152, US |
| Region / Metro | Skaneateles |
| Year of Construction | 1987 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
79 Fennell St Skaneateles, NY Multifamily Investment
Owner-tilted housing and elevated home values in Skaneateles support durable renter demand at this 32-unit asset, according to WDSuite’s CRE market data. Income levels in the surrounding area indicate room for operational upside through thoughtful renovations and lease management.
Situated in the Syracuse metro, the property sits within a suburban neighborhood rated A+ and ranked 7th among 247 metro neighborhoods, signaling strong fundamentals. Neighborhood-level occupancy trends are steady with recent improvement, while the local renter-occupied share remains modest, indicating an owner-heavy area with a defined but selective tenant base that can support stable leasing.
Amenities skew toward daily convenience: cafes and pharmacies score in the higher national percentiles, while grocery and park access within the immediate neighborhood are limited. For investors, this mix points to lifestyle appeal near the village core but underscores the importance of on-site amenities and service-forward management to support retention.
Schools are a notable strength. Average school ratings rank 3rd among 247 metro neighborhoods and sit in the top decile nationally, an advantage for family-oriented renter segments and longer tenancy considerations. Demographic indicators are also favorable, with the neighborhood ranking 2nd in the metro and high national percentiles for education and income, aligning with steady demand for well-kept units.
Construction in the immediate area trends older (average 1916), while this asset’s 1987 vintage is comparatively newer. That positioning can be competitive versus older stock, though investors should still plan for targeted modernization or systems updates to support rent positioning and leasing velocity.
Neighborhood safety indicators are broadly in line with national norms, with overall crime near the national middle. Within the Syracuse metro, the area sits somewhat above the metro average for reported incidents (ranked 90 out of 247 metro neighborhoods), so prudent security measures and lighting policies remain relevant for operations.
Trend signals are mixed: property offenses have declined meaningfully year over year (an improvement reflected in high national-percentile change), while violent offense levels benchmark safer than many neighborhoods nationally but show a recent uptick. For investors, this suggests monitoring trends and maintaining standard risk-mitigation practices rather than assuming a static profile.
Regional employers provide a diversified white-collar base that supports commute-friendly renter demand, notably in packaging and payroll/HR services. The firms below are within a practical drive of the property and can underpin leasing stability among professional households.
- WestRock — packaging (14.1 miles)
- ADP Syracuse — payroll and HR services (16.4 miles)
This 32-unit, 1987-vintage asset benefits from an affluent, owner-tilted neighborhood where high home values and strong incomes reinforce multifamily demand and retention. Compared with the area’s older housing stock, the property’s relative vintage can compete well with local alternatives; targeted updates may further enhance positioning and support rent growth. Household and population growth within a 3-mile radius point to a larger tenant base ahead, aligning with continued leasing stability.
Based on commercial real estate analysis from WDSuite, neighborhood-level occupancy has trended steady with modest improvement, while the renter-occupied share remains lower than many urban submarkets—suggesting measured but resilient demand rather than volatile swings. The combination of strong schools, convenient village amenities, and higher-income demographics supports pricing discipline and retention with thoughtful asset management.
- 1987 vintage offers a competitive edge versus older local stock, with targeted modernization upside
- Affluent, owner-tilted neighborhood supports steady renter demand and potential pricing power
- 3-mile radius shows growth in population and households, expanding the tenant base and supporting occupancy
- Strong school ratings and village amenities bolster retention among family and professional renters
- Risk: neighborhood crime trends are mixed relative to the metro; maintain proactive security and monitoring