| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Best |
| Demographics | 51st | Fair |
| Amenities | 62nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2027 E Genesee St, Syracuse, NY, 13210, US |
| Region / Metro | Syracuse |
| Year of Construction | 1972 |
| Units | 20 |
| Transaction Date | 2005-06-24 |
| Transaction Price | $620,000 |
| Buyer | SYRACUSE GENESEE |
| Seller | RSP ONE |
2027 E Genesee St Syracuse Multifamily Opportunity
Neighborhood renter concentration is high and daily amenities are close, pointing to a durable tenant base, according to WDSuite’s CRE market data. Occupancy trends in the area warrant active leasing management, but demand drivers and proximity to employers support long-run stability.
Located in an Inner Suburb of Syracuse, the property benefits from strong neighborhood amenities and a renter-leaning housing stock that supports multifamily demand. Cafés, restaurants, groceries, and pharmacies are competitive among Syracuse neighborhoods (e.g., café and restaurant density rank within the top 5 of 247 metro neighborhoods and land in the top quartile nationally), giving residents convenient access to daily needs and fostering stickiness for renters.
The share of housing units that are renter-occupied is elevated (ranked 9 of 247 metro neighborhoods), indicating depth in the tenant base and consistent leasing demand. By contrast, the neighborhood-level occupancy rate sits below metro norms (ranked 216 of 247 and below the national median), so operators should expect more hands-on marketing and renewal strategies to maintain stability.
Construction patterns skew older in the immediate area (average vintage 1927; ranked 185 of 247), while the subject’s 1972 build is newer than much of the surrounding stock. For investors, that typically translates into relatively favorable competitive positioning versus pre-war assets, with remaining potential for systems upgrades or value-add interior improvements to widen the gap.
Within a 3-mile radius, population and household counts have grown modestly in recent years and are projected to expand further, pointing to a larger tenant base over the medium term. Median contract rents in the neighborhood track near the national middle, while elevated value-to-income ratios locally suggest that ownership is a higher-cost path for many households—conditions that can sustain reliance on rental housing and support lease retention.
Amenity gaps exist: parks and childcare options rank at the bottom of the metro distribution (both 247 of 247), which may temper appeal for certain segments. Even so, strong food-and-beverage and grocery access, plus a renter-oriented housing mix, remain notable demand drivers for workforce and student-adjacent cohorts.
Safety metrics indicate comparatively higher incident rates than many Syracuse neighborhoods (overall crime ranked 153 of 247 in the metro and below the national median). That said, recent trends show directional improvement, with both property and violent offense rates declining year over year, which can help stabilize perception over time.
Investors should underwrite with conservative security and operational allowances, monitor submarket trendlines, and prioritize standard measures such as lighting, access control, and resident engagement to support retention.
Nearby corporate offices provide a steady commuter base that supports renter demand and renewal performance, notably in paper & packaging, payroll services, and telecom.
- WestRock — paper & packaging (4.6 miles)
- ADP Syracuse — payroll & HR services (5.4 miles)
- Frontier Communications — telecommunications offices (40.3 miles)
2027 E Genesee St brings a 1972 vintage to a neighborhood where much of the housing stock is older, offering relative competitiveness and potential for targeted value-add. Strong food, beverage, and grocery access rank competitively in the metro and in the top quartile nationally, reinforcing renter appeal, while a high share of renter-occupied units at the neighborhood level signals depth in the tenant base. According to CRE market data from WDSuite, neighborhood NOI per unit benchmarks among the top performers in Syracuse, though occupancy levels trail metro leaders—favoring experienced operators with proactive leasing and renewal programs.
Within a 3-mile radius, modest historical population growth and a forecasted increase in households point to a widening renter pool. Elevated ownership costs relative to incomes locally can reinforce reliance on rental housing, supporting lease retention and pricing power when paired with prudent affordability management.
- 1972 construction is newer than much of the neighborhood stock, with room for systems and interior upgrades to drive rent premiums
- Amenity-rich location (strong café, restaurant, grocery access) supports leasing velocity and renewal rates
- Renter-occupied housing share is high locally, indicating a deep tenant base and steady demand for multifamily
- Neighborhood NOI per unit ranks among top Syracuse neighborhoods, per WDSuite, underscoring operating potential
- Risks: neighborhood occupancy trails metro leaders and safety metrics are weaker than average—plan for active leasing, security, and affordability management