| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Good |
| Demographics | 60th | Good |
| Amenities | 25th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 114 Elbow Rd, Syracuse, NY, 13212, US |
| Region / Metro | Syracuse |
| Year of Construction | 1980 |
| Units | 102 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
114 Elbow Rd, Syracuse NY Multifamily Opportunity
Neighborhood-level occupancy trends are steady and above the metro median, according to WDSuite’s CRE market data, suggesting stable renter demand around the asset. Metrics reference the surrounding neighborhood, not this specific property.
Located in a suburban pocket of the Syracuse metro, the neighborhood posts a B+ rating and sits competitive among 247 local neighborhoods on overall amenities. Restaurant density ranks in the top tier locally and is strong versus national peers, while everyday needs are supported by a solid presence of grocery options. Cafes, parks, and pharmacies are limited within the immediate area, so residents may rely on nearby corridors for some services.
For investors, the area’s occupancy rate is above the metro median and trending up over the last five years, which supports income stability at the neighborhood level. Median household income is near the national middle, and rent burdens remain comparatively manageable, a backdrop that can aid lease retention and reduce turnover risk.
Construction patterns nearby skew to the mid-1980s on average. With a 1980 vintage, this 102-unit asset is slightly older than surrounding stock, pointing to typical capital planning around building systems and common areas. That age profile can also create value-add potential through targeted renovations and operational improvements.
Demographic statistics aggregated within a 3-mile radius show a broadly stable population with a modest increase in total households and a gradual reduction in household size. This combination indicates a slowly expanding renter pool and supports ongoing demand for multifamily units relative to metro and national trends.
Within the same 3-mile view, roughly one-third of housing units are renter-occupied. That renter concentration indicates a meaningful tenant base while still leaving room for competitive positioning versus ownership alternatives. Elevated homeownership accessibility in parts of the metro may create some competition, so effective pricing and amenity programs remain important for lease-up and retention.
Safety conditions should be viewed in context. Within the Syracuse metro (247 neighborhoods), this area’s crime rank indicates higher exposure than many local peers, yet national comparisons are more favorable — WDSuite’s data places the neighborhood above the midpoint nationally for overall safety. Recent year-over-year trends point to meaningful declines in violent incidents and improvement in property crime, signaling directional progress rather than a guarantee.
For underwriting, a prudent approach is to account for block-to-block variability and focus on property-level measures (lighting, access control, resident engagement) that support tenant retention. Use regional benchmarks rather than isolated anecdotes to contextualize risk.
Nearby employment includes corporate offices that support steady commuter demand and practical commute times for residents. Key employers in the area include ADP, WestRock, and Frontier Communications.
- ADP — corporate offices (2.3 miles)
- WestRock — packaging & paper products offices (4.6 miles)
- Frontier Communications — telecommunications offices (44.6 miles)
This 102-unit, 1980-vintage asset benefits from a neighborhood with above-median metro occupancy and manageable rent-to-income dynamics, supporting durable renter demand. Based on CRE market data from WDSuite, local amenities are serviceable—with strong restaurant access and adequate groceries—while limited parks and cafes suggest a focus on on-site offerings to enhance resident experience and retention.
The building’s slightly older vintage relative to nearby stock points to sensible capital planning and potential value-add through unit and systems upgrades. Within a 3-mile radius, household counts have been rising and are expected to grow further, implying a slowly expanding tenant base and solid long-term fundamentals when paired with disciplined operations.
- Above-metro-median neighborhood occupancy supports income stability
- 1980 vintage offers value-add potential via targeted renovations
- Expanding household base within 3 miles enlarges the renter pool
- Amenities skew toward restaurants and groceries; on-site features can offset limited parks/cafes
- Risk: Local safety ranks weaker within the metro; property-level controls and tenant engagement remain important