| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 46th | Best |
| Demographics | 53rd | Good |
| Amenities | 58th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 566 S Main St, Central Square, NY, 13036, US |
| Region / Metro | Central Square |
| Year of Construction | 1975 |
| Units | 85 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
566 S Main St, Central Square NY Multifamily Investment
Neighborhood occupancy is competitive among Syracuse submarkets, supporting stable renter demand according to WDSuite’s CRE market data. Pricing remains grounded by a high-cost ownership threshold for some households in the metro, which can support tenant retention.
Located in an Inner Suburb setting, the neighborhood ranks 23 out of 247 within the Syracuse metro, making it competitive among Syracuse neighborhoods. Occupancy for the neighborhood is 94.7% (rank 92 of 247), indicating above-median stability that can aid collections and leasing consistency.
Renter concentration at the neighborhood level is 42.9% of housing units (rank 34 of 247), suggesting a sizable tenant base for multifamily operators. Within a 3-mile radius, households increased by 6.3% over the past five years and are projected to grow further by 2028, supporting a larger tenant base and steady leasing velocity.
Everyday amenities are accessible for this scale suburb: grocery (rank 54/247), parks (33/247), pharmacies (32/247), and cafes (27/247) show competitive coverage versus the metro, while restaurants (77/247) are adequate for local demand. Average school ratings trend below national averages, which may modestly temper some family-driven demand segments, though workforce-oriented renter demand often hinges more on commute and rent positioning.
Home values in the neighborhood are elevated enough to reinforce renter reliance on multifamily housing, and local median rents remain comparatively accessible, which together can support pricing power without overextending affordability. The property’s 1975 vintage is newer than the neighborhood’s older average stock, implying relative competitiveness versus mid-century product while still warranting targeted systems updates or renovations to sustain performance.
Comparable crime metrics were not available in this dataset for the neighborhood. Investors typically benchmark neighborhood safety against metro and national trends when published; absent those figures here, underwriting can incorporate local management insights and market comps to validate operating assumptions.
Regional employers within driving distance support a diversified workforce renter base, with commute times suitable for retention and steady leasing. Notable nearby corporate offices include ADP and WestRock.
- ADP Syracuse — payroll & HR services (12.3 miles)
- WestRock — packaging & paper products (15.2 miles)
This 85-unit, 1975-vintage community benefits from neighborhood occupancy that is competitive among Syracuse submarkets and a renter concentration that supports depth of demand. According to CRE market data from WDSuite, neighborhood-level rents remain comparatively accessible relative to local incomes, which can aid lease retention while allowing measured rent growth through ongoing operational upgrades.
Within a 3-mile radius, population has expanded modestly and households have grown more notably, with projections pointing to continued household gains by 2028—factors that typically translate to a larger tenant base and support for occupancy stability. Relative to older area stock, the asset’s vintage offers competitive positioning, with targeted capital plans (systems, interiors, curb appeal) providing potential value-add upside.
- Competitive neighborhood occupancy supports consistent leasing and collections
- Renter concentration and household growth within 3 miles expand the tenant base
- 1975 vintage is newer than much of the local stock, enabling targeted value-add
- Accessible rent-to-income dynamics may support rent resiliency and retention
- Risks: lower average school ratings, limited childcare presence, and reliance on regional commuting may affect certain renter segments