| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 39th | Good |
| Demographics | 49th | Fair |
| Amenities | 38th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 518B Charles Ave, Syracuse, NY, 13209, US |
| Region / Metro | Syracuse |
| Year of Construction | 1985 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
518B Charles Ave Syracuse 36-Unit Multifamily Opportunity
Neighborhood occupancy near 95% supports consistent leasing, according to WDSuite’s CRE market data, with renter demand reinforced by a balanced mix of owners and renters. Asset vintage from 1985 offers competitive positioning versus older local stock while leaving room for targeted upgrades.
Located in an Inner Suburb of the Syracuse metro, the neighborhood posts a B+ rating and is competitive among Syracuse neighborhoods (ranked 72 out of 247). Occupancy in the surrounding neighborhood is 94.9%, placing it in the stronger half of the metro (rank 91 of 247), which supports lease stability and reduces downtime risk for owners.
Amenities skew toward everyday convenience: cafes and grocery options are competitive among Syracuse neighborhoods (cafe density rank 12 of 247; grocery density rank 44 of 247), though parks and pharmacies are thinner locally. School options average around 2.0 out of five (37th national percentile), suggesting families may prefer nearby alternatives within the metro. For rents, the neighborhood tracks below national medians (40th national percentile), which can aid lease-up and retention while limiting near-term pricing power.
Construction year matters here: with an average neighborhood vintage around 1935 (rank 166 of 247), a 1985-built, 36-unit property is newer than much of the local stock. That relative youth can enhance competitive positioning versus older assets, though selective renovations or systems modernization may still be prudent to protect NOI.
Tenure patterns show an estimated 38.5% of housing units are renter-occupied (rank 39 of 247; 78th national percentile), indicating a meaningful renter concentration that supports multifamily demand depth. Within a 3‑mile radius, demographics show recent population and household growth with a modest increase in families and a gradual decline in household size, pointing to a stable or expanding renter pool and supporting occupancy continuity for well-managed assets.
Home values in the neighborhood sit well below national levels (21st national percentile), creating a more accessible ownership market that can introduce competition for some renter cohorts. Even so, a rent‑to‑income ratio near 0.15 (54th national percentile) suggests limited affordability pressure, which can bolster resident retention and steady collections for professionally operated properties.
Safety trends are mixed when viewed across metro and national benchmarks. At the metro level, the neighborhood’s crime rank of 40 out of 247 indicates higher incident rates than many Syracuse areas. Nationally, overall crime sits around the 65th percentile for safety, while property offenses align closer to the lower quartiles; however, recent momentum is constructive.
According to WDSuite, estimated property offenses declined sharply year over year (top decile improvement locally; 85th national percentile for reduction), and violent offense rates also fell materially (92nd national percentile for reduction). For investors, this trajectory suggests improving conditions, though continued monitoring and practical on‑site measures remain appropriate.
Nearby employers provide a diversified white‑collar and operations workforce that supports renter demand and commute convenience. Key nodes include WestRock, ADP Syracuse, and Frontier Communications.
- WestRock — paper & packaging operations (0.9 miles)
- ADP Syracuse — payroll & HR services (3.7 miles)
- Frontier Communications — telecommunications offices (43.8 miles)
518B Charles Ave benefits from neighborhood occupancy around 95% and rents that sit below national levels, supporting steady lease-up and retention. The 1985 vintage is newer than much of the area’s 1930s-era stock, offering an advantage versus older comparables while leaving room for value-add upgrades to kitchens, baths, or building systems as part of a measured capital plan. Based on commercial real estate analysis from WDSuite, the surrounding 3‑mile area shows gradual population and household growth and a shrinking average household size, trends that typically expand the renter pool and support occupancy stability.
Home values are relatively modest in this neighborhood, which can introduce some competition from ownership for price-sensitive renters, but a rent-to-income profile near mid‑national levels points to manageable affordability pressure. Safety data show metro-relative incidents above average but with notable year‑over‑year reductions in both property and violent offenses, suggesting improving conditions that warrant continued monitoring rather than a structural deterrent.
- Occupancy near 95% supports stable collections and reduced downtime
- 1985 construction is newer than much of the local stock, enabling targeted value‑add
- 3‑mile demographics indicate a steady or expanding renter pool, reinforcing demand
- Below‑national rent levels aid lease-up and retention, with balanced rent-to-income
- Risk: ownership alternatives may compete on price; crime sits above metro average despite recent improvements