| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Good |
| Demographics | 48th | Fair |
| Amenities | 27th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 56 Davis St, Phoenix, NY, 13135, US |
| Region / Metro | Phoenix |
| Year of Construction | 1985 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
56 Davis St Phoenix NY Multifamily Investment
1985 vintage in an inner-suburb location where renter-occupied housing is meaningful and amenity access is improving, according to WDSuite’s CRE market data. The neighborhood shows stable renter demand dynamics with room for value-add positioning.
Phoenix sits within the Syracuse, NY metro as an Inner Suburb neighborhood rated B+ on WDSuite. Amenity access is a relative strength: cafes and groceries are competitive among Syracuse neighborhoods (ranks 16 and 30 out of 247, respectively), and restaurant density is above metro median. Parks and pharmacies are limited in the immediate area, which may temper some lifestyle appeal but also positions the property to compete on convenience and in-unit offerings.
The neighborhood s housing stock skews older (average construction year 1913 across the neighborhood), which makes a 1985 asset comparatively newer and potentially more competitive versus legacy inventory. For investors, this typically translates into a clearer path to targeted renovations and operational improvements rather than full system overhauls, while still planning for aging building systems consistent with an asset approaching four decades old.
Multifamily demand indicators are mixed but constructive. Neighborhood occupancy is measured at the neighborhood level and trends in a mid-range band, while the share of housing units that are renter-occupied is elevated locally (44.7%, competitive among Syracuse neighborhoods at rank 31 of 247). This renter concentration supports a deeper tenant base and can help leasing stability even as overall occupancy fluctuates at the neighborhood level.
Within a 3-mile radius, recent years show softer population and household counts, but WDSuite s forward view points to a projected increase in households and a slight reduction in average household size. For investors, a rising household count with smaller sizes typically expands the renter pool and supports occupancy stability. Home values are lower than national norms for ownership markets, which can introduce competition from entry-level buying; however, it also suggests renters may view multifamily as a more accessible option, aiding retention and steady absorption.
Safety performance is best viewed comparatively. According to WDSuite, the neighborhood 27s overall crime profile sits modestly better than the national midpoint (national percentile ~59), with violent offenses tracking in the top decile nationally (around the 91st percentile for lower violent crime relative to neighborhoods nationwide). This indicates comparatively favorable violent-crime conditions versus much of the country.
Property-related incidents show more variability over recent periods. While national comparisons indicate generally favorable positioning, year-over-year shifts can be noisy at small geographies. Investors should underwrite to localized management practices (lighting, access control, and tenant screening) and monitor trend direction rather than any single-year change.
Employment access is supported by nearby corporate offices that help underpin renter demand and commute convenience, notably ADP and WestRock within a typical drive-time radius.
- ADP Syracuse payroll & HR services (10.7 miles)
- WestRock packaging & paper products (12.8 miles)
56 Davis St offers a 1985-vintage, 24-unit footprint in a Syracuse metro neighborhood where renter concentration is strong at the neighborhood level and amenity access is comparatively competitive. The asset 27s vintage positions it newer than much of the surrounding housing stock, which can support leasing versus older alternatives while still warranting targeted capex for systems and interiors. According to CRE market data from WDSuite, neighborhood occupancy trends are mid-range, suggesting focus on active leasing and renewal strategies rather than assuming outsized pricing power.
Within a 3-mile radius, forecasts point to household growth and slightly smaller household sizes, which typically expands the renter base and supports occupancy durability. Home values track below national norms, which can introduce some competition from ownership for higher-income households; however, this also supports steady workforce demand for well-managed, updated rentals.
- Newer-than-neighborhood stock (1985) supports competitive positioning versus older inventory
- Elevated share of renter-occupied housing units locally supports tenant depth and leasing stability
- Amenity access (cafes, groceries, restaurants) compares favorably within the Syracuse metro
- 3-mile forecasts indicate rising households and smaller sizes, expanding the renter pool
- Risks: limited nearby parks/pharmacies, mid-range neighborhood occupancy, and potential competition from entry-level ownership