| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 32nd | Fair |
| Demographics | 46th | Fair |
| Amenities | 44th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2619 James St, Syracuse, NY, 13206, US |
| Region / Metro | Syracuse |
| Year of Construction | 1975 |
| Units | 20 |
| Transaction Date | 2005-05-27 |
| Transaction Price | $385,000 |
| Buyer | NU-2619 JAMES LLC |
| Seller | VICK ROBERT |
2619 James St, Syracuse NY Multifamily Opportunity
Neighborhood occupancy is steady with a deep renter-occupied base, supporting demand durability for a 20-unit asset, according to CRE market data from WDSuite.
Located in an Inner Suburb of Syracuse, the neighborhood carries a B+ rating and ranks 83rd out of 247 metro neighborhoods, placing it competitive among Syracuse neighborhoods for overall livability. Grocery and pharmacy access are strengths (ranks 26/247 and 7/247), and restaurants are relatively dense (12/247) compared with many areas nationally. Parks, cafes, and childcare options are limited locally, which may modestly reduce lifestyle appeal for some tenants.
For investors, renter concentration is a key driver: about 54.7% of housing units are renter-occupied (rank 17 of 247, top quartile), indicating a broad tenant base and stable leasing pipeline. Neighborhood occupancy sits around the national median (52nd percentile), suggesting predictable leasing, while median contract rents and a rent-to-income ratio near 0.18 indicate manageable affordability pressure that can support retention and measured pricing over time.
Demographic statistics are aggregated within a 3-mile radius and show a slight population dip in recent years but WDSuite projects growth ahead, with households forecast to increase meaningfully through 2028. A smaller average household size points to sustained demand for smaller units and singles-oriented product, consistent with micro and studio formats. These dynamics, paired with access to daily-needs retail, underpin multifamily property research that favors steady occupancy over more cyclical submarkets.
Vintage context: the property was built in 1975, newer than the neighborhood’s older housing stock (average vintage 1936, rank 164 of 247). That relative youth can be a competitive advantage versus pre-war assets, though investors should still plan for systems modernization and select value-add upgrades to meet current renter expectations.
Home values in the neighborhood are lower than national norms, which can introduce some competition from ownership. However, the strong renter share and median rent levels suggest continued reliance on rentals, supporting occupancy stability and lease retention for well-managed assets.
Safety indicators are mixed and should be evaluated in context. Within the Syracuse metro, the neighborhood’s crime standing is mid-pack (rank 120 of 247). Nationally, safety percentiles indicate elevated property and violent offense exposure relative to many U.S. neighborhoods; however, recent year-over-year trends show meaningful declines, with both property and violent offense rates improving faster than many areas according to WDSuite’s CRE market data.
For investors, the takeaway is operational: emphasize lighting, access control, and partnerships with local safety initiatives to support tenant retention and leasing, while underwriting with conservative assumptions and monitoring ongoing trend improvements.
Nearby employers provide a diversified white-collar employment base that can support renter demand and reduce commute frictions for residents, including ADP, WestRock, and Frontier Communications.
- ADP Syracuse — payroll & HR services (4.7 miles)
- WestRock — paper & packaging (4.8 miles)
- Frontier Communications — telecommunications (41.0 miles)
2619 James St is a 1975-vintage, 20-unit asset positioned in a renter-heavy neighborhood with occupancy around the national median and daily-needs retail nearby. Based on CRE market data from WDSuite, the area’s top-quartile renter share and accessible rent levels support a durable tenant base and steady leasing, while relative affordability keeps rent-to-income pressure manageable and aids retention.
Forward-looking demand is reinforced by 3-mile projections indicating household growth and smaller average household sizes, which support continued interest in compact units. The 1975 vintage offers value-add potential through targeted modernization to enhance competitive positioning versus older local stock, with underwriting that accounts for safety management and the neighborhood’s limited park and cafe amenities.
- Renter-heavy neighborhood (top-quartile share) supports deep tenant base and occupancy stability.
- Daily-needs retail access (groceries, pharmacies) and restaurant density enhance resident convenience.
- 1975 vintage presents value-add potential via systems upgrades and unit refreshes versus older local stock.
- 3-mile outlook shows household growth and smaller household sizes, supporting demand for smaller units.
- Risks: safety metrics below national percentiles and limited parks/cafes; mitigate via security, amenity strategy, and conservative underwriting.