| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 31st | Fair |
| Demographics | 13th | Poor |
| Amenities | 43rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4320 S Salina St, Syracuse, NY, 13205, US |
| Region / Metro | Syracuse |
| Year of Construction | 2007 |
| Units | 25 |
| Transaction Date | 2006-07-19 |
| Transaction Price | $183,000 |
| Buyer | JOSLYN COURT II HOUSING D EVELOPMENT FUND COR |
| Seller | ATONEMENT HOUSING CORP OF SYRACUSE INC |
4320 S Salina St Syracuse Multifamily Investment
2007 construction offers a newer alternative to the area s older housing stock and positions the asset to compete for workforce renters, according to WDSuite s CRE market data. Neighborhood occupancy has trended up modestly, while a broader 3-mile renter base helps support leasing visibility.
Situated in Syracuse s inner-suburban fabric, the property benefits from everyday conveniences more than destination retail. Grocery access is competitive among 247 Syracuse neighborhoods, and restaurant density ranks in the top cohort metro-wide, while parks, cafes, and pharmacies are comparatively limited. For investors, this mix supports day-to-day livability even if lifestyle amenities are thinner than core nodes.
At the neighborhood level, renter-occupied housing represents about 36.8% of units (top-quartile share among 247 metro neighborhoods), indicating a meaningful tenant pool. Within a 3-mile radius, renter concentration is higher at roughly 57%, which broadens the capture area for leasing and renewals. Neighborhood occupancy sits near 81% and has improved over the past five years, suggesting gradual stabilization rather than tight conditions.
Demographics aggregated within 3 miles point to modest population growth in recent years and an expected increase ahead, with households projected to expand and average household size trending smaller. That combination typically supports a larger tenant base and steady demand for smaller rental units. Median household incomes in the 3-mile area have risen, with further gains forecast, which can aid collections and retention even as rent-to-income management remains important.
Home values near the property are relatively low compared with national norms, which can create some competition from ownership alternatives and temper pricing power. Conversely, lower absolute rents versus many U.S. markets help sustain renter reliance on multifamily housing. Relative to the local stock s average construction year of 1926, a 2007-vintage asset offers a more contemporary baseline that can attract tenants seeking newer finishes and building systems.
Safety indicators are mixed. Compared with neighborhoods nationwide, recent data show below-average safety, but both violent and property offense rates have moved lower year over year, indicating improvement momentum. Within the Syracuse metro (247 neighborhoods), the area trends below the metro average for safety, so operators should emphasize lighting, access control, and community standards to support resident confidence.
For underwriting, the key takeaway is directional: while current levels suggest heightened vigilance, recent declines point to improving conditions rather than deterioration, based on WDSuite s CRE market data.
Nearby employers provide a diversified white-collar base that supports renter demand through commute convenience, notably in packaging, payroll services, and telecommunications.
- WestRock packaging & paper (5.0 miles)
- ADP Syracuse payroll & HR services (7.1 miles)
- Frontier Communications telecommunications (39.7 miles)
Built in 2007 with 25 units, the property is materially newer than the surrounding neighborhood s early-20th-century housing stock, giving it competitive positioning with fewer near-term modernization needs than older assets. Neighborhood occupancy has been improving but remains below tight-market levels, so leasing strategy and renewal execution are important. Within a 3-mile radius, a larger renter pool and projected household growth support demand, while relatively low local home values may limit rent upside and require disciplined pricing. According to commercial real estate analysis from WDSuite, these dynamics point to steady workforce demand with measured risk around affordability and lease management.
Investor focus: leverage the newer vintage to capture tenants seeking more contemporary product, monitor affordability pressure given local incomes, and plan for mid-life system upkeep typical of a 2007 asset.
- 2007 vintage outcompetes older neighborhood stock, aiding tenant attraction
- 3-mile area shows growing households and a sizable renter base supporting demand
- Everyday amenities (notably grocery and dining) support day-to-day livability
- Risk: neighborhood occupancy is below tight levels; pricing power may be tempered by accessible ownership options
- Operational focus on affordability, renewals, and basic security can support performance amid improving safety trends