| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Good |
| Demographics | 9th | Poor |
| Amenities | 41st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1700 W Onondaga St, Syracuse, NY, 13204, US |
| Region / Metro | Syracuse |
| Year of Construction | 1979 |
| Units | 112 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1700 W Onondaga St, Syracuse Multifamily Investment
High renter concentration and rising neighborhood occupancy suggest durable demand for a 112-unit asset, according to WDSuite’s CRE market data.
The property sits in an Inner Suburb of Syracuse where renter-occupied housing is prevalent. The neighborhood’s renter concentration is high, indicating a broad tenant base for multifamily leasing and potential depth for renewals and backfill. Neighborhood occupancy has trended upward over the last five years, supporting a more stable leasing backdrop even if levels remain below national averages.
Local amenities skew practical: grocery store density ranks in the top quartile nationally, while restaurants are competitive relative to many U.S. neighborhoods. Cafés, parks, and pharmacies are limited nearby, and average school scores are below national benchmarks, which may modestly influence family-oriented demand but typically has less impact on workforce housing.
For investors assessing rent positioning, neighborhood median contract rents track below national norms while the rent-to-income ratio signals elevated affordability pressure. This combination argues for careful lease management and thoughtful renewal strategies. At the same time, relatively low home values in the neighborhood context can create mixed dynamics: ownership is more attainable for some households, yet multifamily can retain demand by offering convenience, flexibility, and professional management.
Within a 3-mile radius, WDSuite’s data shows modest population growth over the past five years and a larger increase in household counts, reflecting smaller average household sizes and a potential expansion in the renter pool. Looking ahead to 2028, forecasts point to additional population growth and a meaningful increase in households, which supports occupancy stability and absorption for well-operated assets.
Safety metrics for the neighborhood trail national averages, with property and violent offense rates positioned in lower national percentiles. Recent year-over-year trends are constructive, however, with notable declines in violent incidents and a reduction in property offenses, indicating some improvement in local conditions.
For underwriting, this profile suggests emphasizing on-site security practices, lighting, and resident engagement. Monitoring continued trend improvement and comparing performance to other Syracuse neighborhoods can help calibrate expectations while maintaining conservative assumptions.
Nearby employers provide a diversified white-collar employment base that supports renter demand and commute convenience for residents, including packaging, payroll services, and communications firms listed below.
- WestRock — packaging (2.3 miles)
- ADP Syracuse — payroll & HR services (4.9 miles)
- Frontier Communications — telecommunications (42.5 miles)
This 1979-vintage, 112-unit community offers scale in a renter-heavy Syracuse neighborhood, with upward momentum in neighborhood occupancy and a broad tenant base. The vintage is newer than much of the surrounding housing stock, positioning the asset competitively versus older buildings; targeted modernization and systems updates can further enhance leasing and retention. According to CRE market data from WDSuite, neighborhood contract rents sit below national levels while rent-to-income ratios indicate affordability pressure, so disciplined renewal strategies and value-forward amenities are important for maintaining occupancy and pricing power.
Within a 3-mile radius, recent population growth and a faster increase in household counts point to a larger renter pool, and forecasts to 2028 indicate additional gains alongside higher median incomes and rising market rents. These trends support a steady demand profile for well-managed workforce housing, even as investors should account for competition from accessible ownership options in the immediate area.
- Renter-heavy neighborhood and rising occupancy support demand durability
- 1979 vintage is competitive versus older local stock; targeted renovations can unlock value
- 3-mile outlook shows more households and income growth, supporting absorption and retention
- Below-national rent levels enable value positioning while managing affordability pressures
- Risks: safety metrics below national averages; accessible ownership competes for some renters