| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 19th | Poor |
| Demographics | 78th | Best |
| Amenities | 30th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4624 Onondaga Blvd, Syracuse, NY, 13219, US |
| Region / Metro | Syracuse |
| Year of Construction | 1997 |
| Units | 30 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
4624 Onondaga Blvd Syracuse 1997 Multifamily Opportunity
Suburban location with a diversified renter base within 3 miles and proximity to daily-needs retail points to steady tenant demand, according to WDSuite’s CRE market data. Neighborhood occupancy trends are stable and the asset’s 1997 vintage positions it competitively versus older local stock.
The property sits in a suburban pocket of Syracuse that is competitive among Syracuse neighborhoods (ranked 68 out of 247). Daily-needs access is a local strength: grocery and pharmacy density score well versus national peers, supporting convenience for residents and aiding retention.
Local housing stock skews older (average 1926 construction across the neighborhood), while this asset’s 1997 vintage offers relative competitiveness versus legacy buildings and may reduce near-term capital exposure compared with much older properties; selective modernization can still enhance positioning.
Within a 3-mile radius, demographics indicate a larger tenant base over time: population has grown in recent years and is projected to expand further by 2028, while household counts are expected to increase and average household size to edge lower. For multifamily investors, this combination typically supports a larger renter pool and occupancy stability.
Neighborhood livability metrics are mixed but generally supportive. Educational attainment is in the top quartile nationally, aligning with solid median incomes in the immediate area. Neighborhood occupancy trends sit around the low-90s; while leasing velocity can vary by asset quality and pricing, the surrounding renter pool expansion and employment access underpin baseline demand.
Ownership costs locally are relatively accessible compared with many U.S. markets, which can create some competition with for-sale housing. For operators, this implies the need for thoughtful amenities, unit finishes, and leasing strategies to maintain pricing power and limit turnover, especially as rents have trended upward and are projected to continue increasing based on WDSuite’s commercial real estate analysis.
Safety indicators for the neighborhood are around the national median overall, with the latest readings modestly better than the U.S. midpoint (55th percentile nationwide). Compared with other parts of the Syracuse metro, conditions are competitive rather than leading, and investors typically underwrite to moderate security expectations and standard property-level measures.
Recent trend signals are constructive: both violent and property offense estimates have moved lower year over year, with property incidents showing a notable decline. These directional improvements can support resident retention and marketing but should be validated against asset-specific history and standard due diligence.
Nearby employers provide a diversified white-collar employment base that supports renter demand and commute convenience for residents. The list below highlights corporate offices within practical driving distance that influence leasing and retention dynamics.
- WestRock — packaging & paper (2.3 miles)
- ADP Syracuse — payroll & HR services (5.1 miles)
- Frontier Communications — telecommunications (42.9 miles)
4624 Onondaga Blvd is a 30-unit, 1997-built multifamily property positioned in a suburban Syracuse neighborhood with strong access to daily-needs retail and a growing 3-mile renter pool. The asset’s newer vintage relative to the neighborhood’s older housing stock provides competitive positioning and the potential to balance ongoing maintenance with targeted value-add to drive rents and retention. According to CRE market data from WDSuite, local occupancy is around the low-90s, with demographic momentum and nearby employment nodes supporting baseline demand.
Market context is constructive but requires disciplined execution. Homeownership is relatively accessible locally, which can create competition for certain unit types; however, continued rent growth projections, income gains within 3 miles, and commute access to area employers support steady leasing. Underwriting should account for standard 1990s-vintage capital planning while leaning into convenience, finishes, and property management to differentiate versus older stock.
- 1997 vintage competes well versus much older neighborhood stock, with selective value-add potential
- Suburban location with strong grocery/pharmacy access supports resident convenience and retention
- Expanding 3-mile renter base and nearby employers underpin occupancy stability and leasing
- Rents trending upward with additional runway, per WDSuite data, contingent on execution
- Risk: relatively accessible ownership market can compete for tenants; emphasize amenities and management