| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 34th | Fair |
| Demographics | 35th | Poor |
| Amenities | 41st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 717 W Broadway, Fulton, NY, 13069, US |
| Region / Metro | Fulton |
| Year of Construction | 1975 |
| Units | 48 |
| Transaction Date | 2005-08-10 |
| Transaction Price | $1,550,000 |
| Buyer | WISNIEWSKI THOMAS R |
| Seller | SMITH MICHAEL D |
717 W Broadway, Fulton NY — 48-Unit 1975 Multifamily
Stabilized renter demand in an inner-suburban pocket with improving crime trends points to steady operations, according to WDSuite’s CRE market data. Newer vintage versus local stock suggests competitive positioning with pragmatic capital planning.
The property sits in an Inner Suburb of the Syracuse, NY metro with a B- neighborhood rating. Local livability skews practical: grocery and park access outperforms many peers, while cafes and pharmacies are thinner, which suits workforce-oriented assets but may limit lifestyle-driven premiums.
Occupancy in the neighborhood is above the metro median among 247 neighborhoods, and the share of renter-occupied housing is high relative to both metro and national benchmarks. For investors, that indicates a deeper tenant base and supports leasing continuity, though it also means competition among rental options can be active.
Within a 3-mile radius, households have edged higher even as population slightly contracted, signaling smaller household sizes and steady renter pool expansion. Projections point to more households and a lower average household size by 2028, a dynamic that typically supports occupancy stability and day-to-day leasing fundamentals.
Home values in this part of Oswego County are comparatively low for the region, which can create some competition from ownership. At the same time, neighborhood rent-to-income levels imply relatively modest affordability pressure, helping tenant retention and reducing turnover risk.
The asset’s 1975 vintage is materially newer than the area’s older housing stock, offering a competitive edge versus prewar buildings while still warranting attention to aging systems and targeted modernization. This positioning can enable value-add programs with measured scope, informed by commercial real estate analysis from WDSuite.
Neighborhood safety trends compare favorably at a national level: indicators align with the top quartile nationally for both overall and violent incidents, supporting resident peace-of-mind and leasing stability without overpromising block-level outcomes.
Recent year-over-year measures show material declines in both property and violent offense rates, reinforcing near-term momentum. As always, investors should underwrite with neighborhood-level context, not address-level precision.
Regional employment anchors within commute range contribute to steady renter demand, particularly for workforce tenants tied to business services and packaging sectors. Nearby employers include ADP and WestRock.
- ADP Syracuse — payroll and HR services (19.2 miles)
- WestRock — packaging and paper products (20.96 miles)
717 W Broadway offers 48 units in a 1975-vintage asset that is newer than much of the surrounding housing stock, providing competitive positioning versus older properties while leaving room for targeted system upgrades. Neighborhood occupancy trends sit above the metro median, and the renter-occupied share is comparatively high, pointing to a sizable tenant base and durable day-to-day leasing. Within a 3-mile radius, households have inched up despite flat-to-down population, and projections call for more households by 2028—favorable signals for multifamily demand depth and occupancy stability.
Affordability dynamics are constructive: rent-to-income levels suggest manageable pressure for tenants, aiding retention, while comparatively low home values can introduce some competition from entry-level ownership. According to CRE market data from WDSuite, neighborhood safety indicators trend in the top quartile nationally with recent declines in incidents, which supports resident appeal without relying on premium amenity drivers.
- Above-metro-median neighborhood occupancy supports stable collections and lease continuity
- 1975 vintage is newer than local stock, enabling focused value-add and system modernization
- 3-mile household growth and smaller household sizes expand the renter pool
- Affordability profile supports retention; monitor competition from more accessible ownership
- Risk: limited amenity density (e.g., cafes/pharmacies) may cap premium rents in certain unit types