Duplex with Detached Two-and-a-Half-Car
For Sale
$220,000
Pending
905 Cogswell Avenue, Syracuse, NY 13209
MULTI_FAMILY - Other - Syracuse, NY
Property Size1,636 SF
Lot Size0.14 Acres
Days on Market75
Property Features for 905 Cogswell Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential 2 Unit
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 3, Bedroom 5, Bedroom 1, Bedroom 4, Bathroom 2, Bathroom 1
Parking features
Garage, Open
Patio and Porch features
Porch
Interior features
Storage, NaturalWoodwork, ProgrammableThermostat
Exterior features
EnclosedPorch, Porch
Appliances
GasWaterHeater
Subdivision
Bacon
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school
Solvay Elementary
Middle school
Solvay Middle
High school
Solvay High
Elementary school district
Solvay
Middle school district
Solvay
High school district
Solvay
Directions
Milton Ave Solvay to Cogswell Ave up hill and just before Trump Street on left side.
Standard status
Pending
APN
313201-008-000-0006-007-000-0000
Size
1,636 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
6004
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1890
Floors in Building
2
Number of units
2
Flooring type
Carpet, Varies, Hardwood, Vinyl
Building materials
VinylSiding, CopperPlumbing
Roof type
Asphalt
Architectural style
Other
Additional Structures
Storage
Listing Agency:
MyTown Realty LLC
(315) 497-6500
Listed By:
David J. Manzano Sr. · License #30MA0711340
(315) 497-6500
Added: May 27
Changed: Aug 4
Last Checked: Aug 9 at 10:06AM
MLS# S1684674
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This well-maintained duplex offers two separate apartments with enclosed porch entries and off-street parking. The first-floor unit includes an enclosed front porch entry, a bright living room, two bedrooms, storage, brand-new wall-to-wall carpeting, new vinyl porch flooring, and fresh paint throughout. It also features a spacious eat-in kitchen with access to the common lower-level laundry area, along with a modestly updated full bath and an enclosed rear porch.
The second-floor apartment is occupied on a month-to-month basis and includes a rear entry, eat-in kitchen, living room, full bath, and three bedrooms, with interior access to the lower-level basement laundry facility. An independently rented left-side garage bay is leased month-to-month, and tenants pay their own separate gas, electric, and heating expenses.
Additional property details include a detached 2.5-car garage with electric service and automatic openers, vinyl siding, circuit breakers, copper plumbing, a newer PVC sewer line to the road, an approximately 7-year-old roof, and a gas forced-air heating system. Built in 1890, the property sits on 0.1377 acres and totals 1,636 square feet.
The second-floor apartment is occupied on a month-to-month basis and includes a rear entry, eat-in kitchen, living room, full bath, and three bedrooms, with interior access to the lower-level basement laundry facility. An independently rented left-side garage bay is leased month-to-month, and tenants pay their own separate gas, electric, and heating expenses.
Additional property details include a detached 2.5-car garage with electric service and automatic openers, vinyl siding, circuit breakers, copper plumbing, a newer PVC sewer line to the road, an approximately 7-year-old roof, and a gas forced-air heating system. Built in 1890, the property sits on 0.1377 acres and totals 1,636 square feet.
Key Highlights
- Duplex with two apartments plus an independently leased left‑side 1.5‑car garage bay
- First‑floor unit has enclosed front and rear porches, new wall‑to‑wall carpeting, and fresh paint
- Second‑floor apartment is month‑to‑month with three bedrooms and interior access to lower‑level laundry
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,408
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.91%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$348,160
$348.2K
Cap Rate 7%
$248,686
$248.7K
Cap Rate 9%
$193,422
$193.4K
Market Conditions
NOI Build-Up for 1,636 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$26.5K $16.20/SF
− Vacancy
−$1.6K −$1.00/SF
EGI
$24.9K $15.20/SF
− OpEx
−$7.5K −$4.56/SF
NOI
$17.4K $10.64/SF
Area
Syracuse, NY
Vacancy
6.17%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$348,160
Cap Rate 7%
$248,686
Cap Rate 9%
$193,422
Alternative Uses
Best Use
Multifamily LT 5
$248.7K
$217.6K – $290.1K
NOI $17,408 @ 7.0% cap · market cap 7.91%
Second Best
Apartment 5plus
$220.7K
$193.1K – $257.5K
NOI $15,447 @ 7.0% cap · market cap 7.02%
Theoretical Best
Office A
$284.3K
$248.8K – $331.7K
NOI $19,902 @ 7.0% cap · market cap 9.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
323
Businesses Nearby
Explore this area
Business Placement
Demographics for 13209, NY
13,018
Population
6,374
Households
2
Avg Household Size
43
Median Age
29%
College-Educated
92%
High-School Grad
13.1 sq mi
ZIP Area
994
Density / Sq Mi
$67,307
Median Household Income
$44,812
Median Earnings
$968
Median Rent
$146,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family duplex with enclosed porches, off-street parking, and a detached garage with electric service and automatic openers.
Where is this duplex located?
The property is located at 905 Cogswell Avenue Syracuse, NY.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Duplex with two apartments plus an independently leased left‑side 1.5‑car garage bay; First‑floor unit has enclosed front and rear porches, new wall‑to‑wall carpeting, and fresh paint; Second‑floor apartment is month‑to‑month with three bedrooms and interior access to lower‑level laundry
