| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 29th | Fair |
| Demographics | 72nd | Best |
| Amenities | 6th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 412 County Route 10, Pennellville, NY, 13132, US |
| Region / Metro | Pennellville |
| Year of Construction | 1974 |
| Units | 29 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
412 County Route 10 Pennellville Multifamily Investment
Rural Syracuse metro location with steady neighborhood occupancy and a relatively small renter base, according to WDSuite’s CRE market data. Positioning and unit mix matter here, with demand driven by local households rather than amenity density.
The property sits in a Rural neighborhood of the Syracuse, NY metro with a B- neighborhood rating and limited retail and park access. Neighborhood occupancy is 93.1% (neighborhood-level), which is above the national median according to WDSuite’s CRE market data. Amenity density is sparse across cafes, groceries, parks, and pharmacies, so residents prioritize space and commute convenience over walkability.
Compared with the metro, overall neighborhood fundamentals are competitive among Syracuse neighborhoods (rank 130 of 247) and demographics rank higher (27 of 247), indicating relatively solid household profiles within the local context. Nationally, the area trends above average on several dimensions (e.g., demographics national percentile 72), but housing indicators track closer to the lower end of national comparisons (housing national percentile 29), reinforcing an investor focus on operational execution over amenity-led premiums.
Vintage positioning is a consideration: the asset’s 1974 construction is newer than the area’s average vintage (1952). This typically supports relative competitiveness versus older stock, while still warranting diligence on building systems and potential modernization to sustain leasing velocity.
Tenure patterns show a low share of renter-occupied housing at the neighborhood level and within a 3-mile radius, which implies a smaller renter pool and measured absorption for multifamily. However, 3-mile demographic statistics indicate recent population growth and an increase in households, alongside smaller household sizes, which can support occupancy stability even in lower-renter submarkets.
Homeownership costs in the neighborhood are moderate in the regional context (median home value sits near local norms), which can introduce competition from ownership options. For multifamily investors, that generally translates to steady but disciplined pricing power, with tenant retention driven by value, unit quality, and management rather than walkable amenity premiums.
Safety trends are mixed in relative terms and should be evaluated against both metro and national benchmarks. Within the Syracuse metro, the neighborhood’s crime rank is 49 out of 247 neighborhoods, which indicates higher crime levels relative to many local peers. Nationally, however, the area reads as comparatively favorable overall (crime national percentile 62), and violent and property offense rates are strong versus national norms (violent 91st percentile, property 88th percentile).
Recent momentum is nuanced: estimated violent offenses declined year over year, while estimated property offenses increased. For investors, this suggests maintaining standard security measures and monitoring submarket trends, while recognizing that the broader national comparison indicates relatively strong safety positioning.
Nearby employment nodes include payroll/HR services and packaging operations that draw a regional workforce and support renter demand through commute convenience. The list below highlights proximate employers relevant to this submarket.
- ADP Syracuse — payroll & HR services (9.1 miles)
- WestRock — packaging & paper (11.8 miles)
This 29-unit asset at 412 County Route 10 offers larger-than-typical unit sizes for the region and benefits from steady neighborhood occupancy, according to CRE market data from WDSuite. The 1974 vintage is newer than the area’s average, suggesting competitive positioning versus older local stock, though investors should budget for system upgrades and modernization to protect leasing and retention.
Investor focus centers on depth of demand and pricing discipline: the renter base is comparatively small in this rural submarket, yet 3-mile statistics show recent population growth and rising household counts alongside smaller household sizes, which can support a stable tenant base. Homeownership remains relatively accessible locally, so rental performance is best supported by value, maintenance, and operational execution rather than amenity premiums. Forward-looking data signals steady demand drivers but limited upside from amenity scarcity, warranting conservative revenue assumptions and emphasis on expense control.
- Larger average unit sizes support leasing to space-seeking renters
- Neighborhood occupancy above national median underpins baseline stability (neighborhood-level)
- 1974 construction is newer than local average, with potential to outperform older stock post-upgrades
- Demand is primarily value-driven given sparse amenities; operational execution and maintenance are key
- Risk: small renter pool and accessible ownership options can limit pricing power and absorption