| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 39th | Good |
| Demographics | 49th | Fair |
| Amenities | 38th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2410 W Genesee St, Syracuse, NY, 13219, US |
| Region / Metro | Syracuse |
| Year of Construction | 1989 |
| Units | 28 |
| Transaction Date | 2003-07-28 |
| Transaction Price | $898,000 |
| Buyer | CHEN DEREK |
| Seller | ONDERDONK GARY R |
2410 W Genesee St Syracuse 28-Unit Multifamily
Neighborhood fundamentals point to steady renter demand and occupancy stability, according to WDSuite’s CRE market data, with tenant depth supported by an inner-suburb location near employment and services.
This inner-suburb location offers day-to-day convenience for residents. Cafe density is competitive among Syracuse neighborhoods (ranked 12th out of 247) and strong nationally, while grocery access also compares well within the metro. By contrast, neighborhood park and pharmacy counts are limited, which may concentrate demand on private amenities within properties.
Occupancy in the neighborhood trends above the metro median (ranked 91st of 247) and sits around the 70th percentile nationally, signaling leasing stability relative to many U.S. locations based on CRE market data from WDSuite. Renter-occupied housing comprises an above-average share for the area (ranked 39th of 247; roughly top quartile nationally), indicating a meaningful tenant base for multifamily.
Within a 3-mile radius, the population has grown in recent years with additional household gains projected over the next five years, while average household size is expected to trend smaller. For investors, a larger household count with smaller sizes typically supports a broader renter pool and consistent absorption of well-located units.
Home values in the neighborhood sit on the lower end relative to national markets, and rent-to-income ratios are moderate. This mix can support retention and measured pricing power, though more accessible ownership options may compete at certain rent tiers. Average school ratings are below the national median, which may influence family renter preferences and underscores the importance of property-level amenities and management.
Safety signals are mixed in a way investors should contextualize. The neighborhood’s crime rank sits below the metro median (40th of 247, where lower ranks indicate more crime), yet national percentiles for both overall and violent offenses are modestly above average, suggesting comparatively better standing versus many U.S. neighborhoods.
Recent trend data from WDSuite indicates meaningful improvement, with violent and property offense rates showing sharp year-over-year declines. While conditions can vary by block and over time, the directional trend provides a constructive indicator for long-term risk assessment when combined with property-level security and proactive management.
Nearby employers provide a steady white-collar employment base that supports renter demand and commute convenience, including WestRock, ADP Syracuse, and Frontier Communications.
- WestRock — packaging & paper (1.1 miles)
- ADP Syracuse — payroll & HR services (4.0 miles)
- Frontier Communications — telecommunications (43.8 miles)
Built in 1989, this 28-unit asset is materially newer than the neighborhood’s pre-war housing stock, offering a competitive edge on systems and layouts while still presenting potential to modernize finishes and common areas. Neighborhood occupancy is above the metro median and around the 70th percentile nationally, supporting stable lease-up and retention dynamics. According to CRE market data from WDSuite, renter-occupied share is elevated for the area, reinforcing depth of demand for well-managed workforce units.
Within a 3-mile radius, recent population growth and projected increases in households point to a larger tenant base, with smaller household sizes favoring rental demand. Lower relative home values and moderate rent-to-income ratios suggest room for disciplined rent optimization, though ownership alternatives can compete at certain price points—making property-level differentiation and management execution important.
- 1989 vintage offers competitive positioning versus older local stock, with targeted upgrades as a value-add path.
- Neighborhood occupancy sits above the metro median, supporting leasing stability and retention.
- 3-mile area shows population growth and projected household gains, expanding the renter pool over time.
- Moderate rent-to-income levels provide measured pricing power with prudent lease management.
- Risks: metro-relative safety rank, below-median school ratings, and accessible ownership options may temper family demand and require competitive amenities.