| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Good |
| Demographics | 30th | Poor |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1019 James St, Syracuse, NY, 13203, US |
| Region / Metro | Syracuse |
| Year of Construction | 1975 |
| Units | 42 |
| Transaction Date | 2025-03-26 |
| Transaction Price | $2,467,000 |
| Buyer | OIKIA SYRACUSE MGMT LLC |
| Seller | VIGLIOTTI ANGELA |
1019 James St, Syracuse NY Multifamily Investment
Renter concentration in the surrounding neighborhood supports a durable tenant base, according to WDSuite s CRE market data. Positioned in Syracuse s urban core, the asset benefits from strong daily-needs access that helps underpin leasing stability.
The property sits in Syracuse s Urban Core where daily conveniences are a differentiator for retention. The neighborhood ranks 3rd of 247 metro neighborhoods for grocery density and is in the 96th th national percentiles for restaurants and cafes, signaling walkable access to essentials and employment-adjacent services. Limited park space locally suggests less recreational open space, so on-site amenities or nearby private fitness options may matter for leasing.
Renter-occupied housing accounts for a substantial share of neighborhood units (71.3%), indicating a deep multifamily tenant pool. By contrast, the neighborhood s occupancy rate is below the metro median (ranked 195th of 247), so underwriting should assume competitive leasing and emphasize product differentiation and management execution. Median contract rents track toward the lower half of national markets, which can aid renewal capture when paired with effective operations.
Within a 3-mile radius, demographics are stable today with projections pointing to population growth and a notable increase in households by the middle of the decade. Forecasts also indicate smaller household sizes, which typically expand the renter pool and support occupancy stability for well-managed properties. These trends are based on multifamily property research from WDSuite and suggest steady demand rather than outsized near-term growth.
Home values in the neighborhood sit below national medians, creating a more accessible ownership market relative to high-cost metros. For investors, this means some competition from entry-level ownership, but it can also support lease retention when properties deliver convenience, value, and quality management. Rent-to-income levels point to manageable affordability pressure in this submarket, implying practical lease management considerations rather than aggressive pricing power.
Safety trends should be viewed in context. Relative to 247 Syracuse metro neighborhoods, this area ranks 150th for overall crime, indicating conditions weaker than the metro median and below national norms. However, recent direction is constructive: estimated violent and property offense rates have declined year over year, suggesting improving momentum that operators can reinforce with lighting, access control, and resident engagement.
Nationally, the neighborhood compares in the lower percentiles for safety today, so investors should incorporate security measures into capex and operations while monitoring trend persistence. Emphasizing visibility, partnerships with local stakeholders, and proven property management practices can help mitigate perception and support leasing.
Nearby employers provide a practical commute shed that supports workforce housing demand and day-shift retention. Key names within a short drive include WestRock and ADP Syracuse, with broader regional employment from Frontier Communications.
- WestRock packaging & paper products (3.6 miles)
- ADP Syracuse payroll & HR services (4.1 miles)
- Frontier Communications telecommunications operations (41.5 miles)
Constructed in 1975, the asset is newer than much of the surrounding Urban Core housing stock, offering relative competitiveness versus older buildings while still warranting selective modernization of systems and interiors. According to CRE market data from WDSuite, the immediate neighborhood shows a high share of renter-occupied units, supporting depth of demand even as neighborhood occupancy runs below the metro median. Strong access to groceries, pharmacies, and restaurants further supports daily convenience a practical factor in renewal decisions.
Within a 3-mile radius, projections indicate population growth, an increase in households, and smaller average household sizes over the next five years. For investors, that combination points to a larger tenant base and steadier leasing. Balanced against these positives are safety metrics that remain below national norms (despite recent improvement) and an ownership market that is relatively accessible, which can compete at the margin with entry-level renters. Focused asset management and targeted capex can help capture the area s rental demand while managing these risks.
- 1975 vintage offers competitive positioning versus older local stock, with value-add potential through modernization.
- High renter-occupied share in the neighborhood supports a deep tenant base and leasing durability.
- Strong daily-needs access (groceries, pharmacies, restaurants) aids renewal and reduces friction for residents.
- Demographic outlook within 3 miles indicates household growth and a larger renter pool.
- Risks: below-metro occupancy and safety metrics require proactive management and leasing strategy.