| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Good |
| Demographics | 30th | Poor |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1033 James St, Syracuse, NY, 13203, US |
| Region / Metro | Syracuse |
| Year of Construction | 1975 |
| Units | 80 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1033 James St, Syracuse NY Multifamily Investment
Renter demand is durable in this Urban Core location, while neighborhood occupancy trends leave room for operational upside, according to WDSuite’s CRE market data and commercial real estate analysis.
Positioned in Syracuse’s Urban Core, the neighborhood surrounding 1033 James St ranks 43 out of 247 metro neighborhoods — placing it in the top quartile locally. Amenity access is a clear strength: grocery options rank near the top of the metro with strong national standing, and dining and cafe density is competitive for daily convenience. Limited park access is a known trade-off that investors should factor into resident experience planning.
Neighborhood occupancy stands at 84.4% with recent improvement, suggesting some lease-up and retention opportunity relative to stronger national benchmarks. Importantly, renter-occupied housing comprises a high share of neighborhood units (renter concentration), which supports a deeper tenant base and multifamily leasing durability. Median contract rents are still modest for the area, helping maintain competitive positioning versus nearby product.
Within a 3-mile radius, population has been broadly stable, while households have increased and are projected to grow further as average household size trends lower. This combination typically expands the renter pool and can support occupancy stability and steady absorption. Median household incomes have risen over the last five years, and forecasts indicate additional gains, which can underpin measured rent growth. For context, home values in the immediate area are comparatively lower than many U.S. neighborhoods; that can introduce some competition from entry-level ownership, but it also supports resident retention where rental options remain more accessible.
The asset’s 1975 vintage is newer than much of the surrounding Urban Core stock, where many buildings predate mid-century. That positioning can be advantageous against older comparables, though investors should still underwrite selective system upgrades or common-area refreshes to sustain competitiveness. Based on multifamily property research from WDSuite, amenity access and renter concentration remain the core local strengths to leverage.
Safety metrics for the neighborhood are weaker than national norms, with rankings below the metro median and low national safety percentiles. However, recent trend data shows improvement: estimated violent incidents have declined year over year, and property-related offenses have seen a meaningful one-year reduction. For investors, this mix argues for prudent security planning and resident communication while acknowledging the positive directional trend.
Interpreting the ranks: the neighborhood sits in the lower half of Syracuse’s 247 neighborhoods on safety, while year-over-year declines in both violent and property offense estimates indicate momentum. Positioning security measures and partnerships with local stakeholders can help support leasing and retention strategies over the hold period.
Nearby employers provide a steady white-collar and operations-oriented workforce that supports renter demand and commute convenience, including WestRock (packaging), ADP Syracuse (payroll/HR services), and Frontier Communications (telecom).
- WestRock — packaging (3.6 miles)
- ADP Syracuse — payroll & HR services (4.2 miles)
- Frontier Communications — telecom (41.5 miles)
1033 James St is an 80-unit, 1975-vintage asset positioned in a renter-heavy Urban Core submarket. The neighborhood sits in the top quartile among Syracuse neighborhoods overall, with notable strengths in grocery, dining, and cafe density that bolster day-to-day livability. Occupancy in the surrounding neighborhood trails stronger national readings but has improved recently, suggesting potential upside via focused leasing and retention. The property’s vintage is newer than much of the local stock, offering relative competitiveness versus older buildings, while still leaving room for targeted modernization to enhance NOI.
Within a 3-mile radius, households have grown and are projected to expand further as household sizes trend smaller — dynamics that typically enlarge the renter pool and support occupancy stability. Renter-occupied housing is prevalent in the immediate area, reinforcing depth of demand, while comparatively lower ownership costs can create some competition with entry-level buying. According to CRE market data from WDSuite, the balance of strong amenity access, high renter concentration, and improving safety trends supports a pragmatic, operations-forward thesis with selective value-add.
- Renter-heavy neighborhood supports a larger tenant base and steady leasing
- 1975 vintage newer than much of local stock; targeted updates can sharpen competitiveness
- Amenity-rich Urban Core location (grocery, dining, cafes) aids retention
- Neighborhood occupancy improving, offering operational upside with disciplined management
- Risks: below-average safety metrics and potential competition from entry-level ownership options