| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Good |
| Demographics | 37th | Poor |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 313 Schaffer Ave, Syracuse, NY, 13206, US |
| Region / Metro | Syracuse |
| Year of Construction | 1976 |
| Units | 85 |
| Transaction Date | 2005-06-08 |
| Transaction Price | $3,200,000 |
| Buyer | BROOK MANOR REALTY LLC |
| Seller | 1344 LLC |
313 Schaffer Ave, Syracuse NY Multifamily Opportunity
According to WDSuite’s CRE market data, neighborhood occupancy is in the mid-90s, suggesting steady leasing fundamentals for a well-run asset. This location offers durable renter demand drivers without relying on premium pricing.
The property sits in a suburban Syracuse neighborhood rated A- and competitive among Syracuse neighborhoods (rank 50 of 247). Local amenity access trends above national midpoints—restaurants and cafes score in the top third nationally—supporting resident convenience and lease retention, while parks and pharmacies are also comparatively accessible.
Multifamily dynamics are constructive: neighborhood occupancy is strong (mid-90s per WDSuite), and the area shows above metro median performance on several livability measures. The property’s 1976 vintage is newer than the neighborhood’s older housing stock (average vintage late-1940s), which can enhance competitive positioning versus legacy assets; investors should still underwrite typical system upgrades and common-area refreshes as part of long-term capital planning.
Tenure patterns indicate a moderate renter concentration in the immediate neighborhood, while within a 3-mile radius the share of housing units that are renter-occupied is higher, broadening the prospective tenant base. Demographic statistics aggregated within a 3-mile radius show households have been edging up and are projected to grow meaningfully through 2028, with slightly smaller average household sizes—factors that typically expand the renter pool and support occupancy stability.
Home values in the neighborhood are comparatively accessible in the regional context, and rents track near national midpoints, keeping rent-to-income in a manageable range. For investors, that balance can aid lease retention and reduce turnover risk, though more accessible ownership options may compete at the margin; disciplined amenity and service strategies can help sustain pricing power.
Safety indicators are mixed but improving. The neighborhood sits near the metro middle on crime (rank 100 of 247 within Syracuse), roughly in line with national midpoints overall. Property-related incidents benchmark weaker than national medians, while recent year-over-year trends point to declines in both violent and property offenses, indicating momentum in the right direction.
For underwriting, this translates to average regional positioning with recent improvement. Investors can account for standard security and lighting practices to support resident comfort and retention, while monitoring continued trend moderation in the broader Syracuse area.
Nearby employers provide a diversified white-collar and industrial base that supports renter demand and commute convenience, notably ADP, WestRock, and Frontier Communications.
- ADP Syracuse — payroll & HR services (3.9 miles)
- WestRock — packaging & paper products (4.4 miles)
- Frontier Communications — telecom operations (41.9 miles)
313 Schaffer Ave offers a practical, defensible position in a suburban Syracuse submarket where neighborhood occupancy runs in the mid-90s and amenities outperform national midpoints. The 1976 vintage is newer than much of the surrounding housing stock, supporting competitive standing versus older properties while leaving room for targeted value-add through modernization. Demographic statistics aggregated within a 3-mile radius point to a larger household base and smaller household sizes over time—dynamics that typically expand the renter pool and support stable leasing—while rents remain broadly manageable relative to incomes.
Based on commercial real estate analysis using WDSuite’s CRE market data, this location balances steady demand with attainable pricing, which can aid occupancy stability and collections. Key watch items include average school ratings and limited grocery options in the immediate area, plus some competition from more accessible ownership; these risks are addressable with focused operations and resident services.
- Strong neighborhood occupancy supports leasing stability
- 1976 vintage is newer than area stock, with value-add modernization potential
- 3-mile radius shows growing household base and smaller household sizes, enlarging the renter pool
- Amenity access above national midpoints aids retention and renter appeal
- Risks: average safety positioning, modest school ratings, and some competition from ownership