| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 32nd | Fair |
| Demographics | 46th | Fair |
| Amenities | 44th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 320 N Midler Ave, Syracuse, NY, 13206, US |
| Region / Metro | Syracuse |
| Year of Construction | 1975 |
| Units | 24 |
| Transaction Date | 2007-11-30 |
| Transaction Price | $860,000 |
| Buyer | MIDLER AVE PROPERTIES LLC |
| Seller | CNY HOUSING LLC |
320 N Midler Ave Syracuse Multifamily Investment
Positioned in an inner-suburb pocket with a renter-leaning housing base, the neighborhood s occupancy has held in the low-90s according to WDSuite s CRE market data. Steady renter demand and relatively accessible rents support durable cash flow potential for a 24-unit asset.
This inner-suburb location is competitive among Syracuse neighborhoods, with daily needs well covered by strong access to groceries and pharmacies (both scoring high versus national norms). Restaurant density is also robust, while parks, cafes, and childcare are limited nearby. For investors, this mix points to convenience-driven appeal for renters who prioritize errands and services over recreational amenities.
Neighborhood rents benchmark below the national midpoint and have trended upward over five years, while neighborhood occupancy has remained in the low-90s. The share of housing units that are renter-occupied is high by national comparison, indicating a deep tenant base that can support leasing continuity and retention. These factors suggest pricing power must be managed with attention to affordability, but demand depth is a positive for stabilized operations.
Within a 3-mile radius, population has been essentially flat in recent years, but household counts have edged higher and are projected to rise further alongside smaller average household sizes. That dynamic typically expands the renter pool and supports occupancy stability. Looking ahead, increases in households and incomes in the 3-mile area are expected to add to leasing velocity, based on WDSuite s multifamily property research.
Home values in the neighborhood sit on the lower end nationally, creating a more accessible ownership market than in higher-cost metros. For multifamily investors, this can introduce some competition from entry-level ownership, but relatively moderate rent-to-income levels locally can aid lease retention when paired with reliable property management and resident services.
The property 19s 1975 vintage is newer than much of the surrounding housing stock, offering a competitive edge versus older buildings. That said, systems are approaching age where targeted capital planning (exteriors, common areas, mechanicals) can unlock value-add upside and sustain positioning against renovated comparables.
Safety indicators for the neighborhood track near the metro median among 247 Syracuse neighborhoods, according to WDSuite. Compared with neighborhoods nationwide, property and violent offense rates sit in lower national percentiles, signaling elevated incident levels relative to U.S. norms. However, both categories show notable year-over-year improvement, which is a constructive trend for investor underwriting.
Investors should underwrite with recent trend lines in mind: the latest data point to meaningful declines in both property and violent offenses versus the prior year. As always, assess block-by-block conditions during site visits and align security measures and resident engagement with submarket expectations.
Nearby employers provide a diversified workforce draw that supports renter demand and commute convenience, including payroll/HR services, packaging, and telecommunications offices.
- ADP Syracuse payroll & HR services (4.7 miles)
- WestRock packaging & paper products (5.1 miles)
- Frontier Communications telecommunications (41.1 miles)
320 N Midler Ave offers a 24-unit footprint in a renter-leaning neighborhood where occupancy has held in the low-90s and rents remain below national midpoints, supporting stable demand and manageable lease-up risk. According to CRE market data from WDSuite, the neighborhood s daily-needs access (groceries, pharmacies) is strong relative to national norms, reinforcing convenience for residents even as recreational amenities are thinner.
Built in 1975, the asset is newer than much of the surrounding stock, which helps its competitive positioning versus older buildings while leaving room for targeted renovations to drive rent premiums. Within a 3-mile radius, household growth and projected income gains point to a larger tenant base over time, a tailwind for occupancy stability and retention when paired with disciplined affordability and resident experience strategies.
- Renter-occupied share is high nationally, indicating a deep tenant base that supports leasing stability.
- Neighborhood rents below national midpoints with steady five-year growth support balanced pricing power.
- 1975 vintage enables value-add through focused system upgrades and common-area enhancements.
- Daily-needs amenity access (groceries, pharmacies) underpins resident convenience and retention.
- Risks: safety metrics sit below national percentiles and parks/cafes are limited; underwriting should include security, activation, and measured rent steps.