| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 40th | Good |
| Demographics | 67th | Best |
| Amenities | 30th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4600 Onondaga Blvd, Syracuse, NY, 13219, US |
| Region / Metro | Syracuse |
| Year of Construction | 1978 |
| Units | 92 |
| Transaction Date | 2007-02-01 |
| Transaction Price | $3,700,000 |
| Buyer | 4574 Woodhaven LLC |
| Seller | Woodhaven Management LLC |
4600 Onondaga Blvd, Syracuse NY Multifamily Investment
Stabilized renter demand in a competitive Syracuse submarket supports steady leasing, according to WDSuite’s CRE market data. Neighborhood occupancy trends remain healthy and pricing is anchored by moderate rent-to-income levels that help retention.
The property sits in a Syracuse neighborhood rated A- and ranked 51 out of 247 within the metro, indicating it is competitive among Syracuse neighborhoods. Local livability is balanced: grocery access ranks 73 of 247 (competitive within the metro), parks access is stronger than average, and restaurants density is mid-pack, while cafes, childcare, and pharmacies are sparse—important for resident convenience planning.
Rents in the neighborhood skew above the metro median (ranked 13 of 247) and have shown multi-year growth, while the neighborhood occupancy rate is around the low-90s and near the metro middle (ranked 116 of 247). For investors, that combination points to resilient demand with room to fine-tune pricing and leasing strategies rather than relying on outsized growth. The neighborhood’s rent-to-income levels suggest manageable affordability pressure, supporting lease retention.
Within a 3-mile radius, population and households have grown in recent years and are projected to continue expanding, with forecasts also indicating smaller average household sizes. This dynamic typically broadens the renter pool and supports occupancy stability. Median household income in the neighborhood ranks 97 of 247 in the metro, and educational attainment sits in higher national percentiles—factors that can underpin stable renter profiles, based on commercial real estate analysis from WDSuite.
Schools in the area average around mid-level quality and rank 20 of 247 in the metro, which is above the metro median. Home values are comparatively accessible versus national benchmarks, which can introduce some competition from ownership; however, elevated neighborhood rents relative to the metro and a sizable renter-occupied base within 3 miles support sustained multifamily demand.
Neighborhood safety indicators trend near the metro middle (crime rank 126 out of 247), and the area sits below the national midpoint by percentile. Recent data shows a meaningful year-over-year improvement in property offenses, which supports a cautiously improving outlook for day-to-day operations. These figures reflect broad neighborhood patterns rather than block-level conditions.
In practical terms, investors can underwrite to average metro risk assumptions while noting the downward trend in property crime. Continued monitoring of police-reported trends and resident feedback remains prudent for asset management.
Nearby employers provide a diversified white-collar and services employment base that supports leasing and retention, led by paper and packaging, payroll services, and telecom operations.
- WestRock — paper & packaging (2.3 miles)
- ADP Syracuse — payroll & HR services (5.1 miles)
- Frontier Communications — telecommunications (42.9 miles)
Built in 1978 across 92 units, the asset is newer than the neighborhood’s average vintage. That positioning can enhance competitiveness versus older stock while still leaving room for targeted system upgrades or unit renovations to drive rent premiums. Neighborhood rents rank near the top of the metro and occupancy trends are stable, offering a foundation for consistent cash flow.
Within a 3-mile radius, population and household growth—alongside smaller projected household sizes—point to a larger tenant base over time, which supports occupancy stability and leasing velocity. According to CRE market data from WDSuite, incomes are solid relative to the metro and rent-to-income levels are manageable, which can aid retention. The ownership market is relatively accessible, so positioning and amenities should focus on clear renter value to limit competition from for-sale alternatives.
- Competitive vintage (1978) versus older neighborhood stock, with value-add potential from selective upgrades
- Rents rank high in the metro and occupancy trends are steady, supporting durable cash flow
- Expanding 3-mile renter base and smaller household sizes bolster long-term demand
- Manageable rent-to-income dynamics aid retention; focus on value to offset ownership competition
- Risk: amenity gaps (cafes, childcare, pharmacies) and average safety require thoughtful resident services and monitoring