| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 38th | Good |
| Demographics | 48th | Fair |
| Amenities | 28th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 212 N Main St, Syracuse, NY, 13212, US |
| Region / Metro | Syracuse |
| Year of Construction | 1996 |
| Units | 54 |
| Transaction Date | 1996-03-28 |
| Transaction Price | $100,000 |
| Buyer | LORETTO APTS HOUSING DEV |
| Seller | VILLAGE OF N SYRACUSE |
212 N Main St Syracuse Multifamily Investment
Occupancy in the surrounding neighborhood has been resilient with stable renter demand, according to WDSuite’s CRE market data. This commercial real estate analysis points to steady leasing fundamentals with room for operational upside.
Located in an Inner Suburb of Syracuse, the property benefits from solid neighborhood fundamentals and a B neighborhood rating (ranked 108 among 247 metro neighborhoods). According to WDSuite’s CRE market data, neighborhood occupancy is in the top quartile nationally, supporting leasing stability for workforce-oriented product.
Renter-occupied housing comprises roughly one-third of local units, indicating a defined but not saturated tenant base. With a low rent-to-income ratio at the neighborhood level, affordability pressure appears manageable, which can aid retention and reduce turnover risk for well-maintained assets.
Livability is shaped by strong park access (high national percentile) and a dense restaurant presence within the neighborhood, while cafes, groceries, and pharmacies are limited within the measured boundaries. For investors, this mix suggests recreational appeal and dining convenience, with some everyday retail needs likely met in adjacent areas.
The asset’s 1996 construction is materially newer than the neighborhood’s older housing stock (average vintage 1952). That positioning can be competitively favorable versus legacy properties, though investors should still plan for periodic system upgrades and selective renovations to sustain rentability.
Demographic statistics are aggregated within a 3-mile radius: recent years show a modest population dip alongside an increase in households and smaller average household sizes. Forward-looking data indicate continued household growth and rising nominal asking rents over the next five years, pointing to a larger renter pool and support for occupancy and pricing power, based on WDSuite’s CRE market data.
Safety metrics are mixed but improving in key areas. The neighborhood is competitive among Syracuse neighborhoods (ranked in the stronger 40% of the metro by WDSuite) and sits around the national middle for violent incidents. Property offenses trend above national averages but have declined materially year over year.
According to CRE market data from WDSuite, estimated property offenses decreased by about a quarter over the last year, while violent offense levels remain near national midpoints. For investors, this context suggests a reasonable baseline with attention to lighting, access control, and routine security as part of ongoing operations.
Nearby employers provide a diversified white-collar employment base that supports renter demand and commute convenience, including ADP and WestRock.
- ADP Syracuse — corporate services (3.9 miles)
- WestRock — packaging & paper products (6.4 miles)
212 N Main St offers 54 units built in 1996, positioning it newer than much of the surrounding housing stock. Based on CRE market data from WDSuite, neighborhood occupancy trends are strong and sit above metro norms, while the local rent-to-income profile suggests manageable affordability pressure that can support retention and lease stability.
Within a 3-mile radius, households have increased even as population edged lower, pointing to smaller household sizes and a gradual expansion of the renter pool. Forward-looking indicators show additional household growth and rent gains, while the submarket’s more owner-leaning tenure mix implies limited direct multifamily competition alongside a smaller renter base.
- Newer 1996 vintage relative to neighborhood stock supports competitive positioning with measured capex planning.
- Top-quartile neighborhood occupancy nationally, per WDSuite, underpins leasing stability.
- 3-mile household growth and smaller household sizes expand the tenant base and support steady demand.
- Owner-leaning area may limit direct multifamily competition, aiding pricing power for quality assets.
- Risks: smaller renter concentration and limited everyday retail within neighborhood boundaries may require targeted marketing and resident services.