Improved Multifamily
New
For Sale
$240,000
105 Lombard Ave, Syracuse, NY 13210
Owner-occupied property with extensive updates and a private backyard on a residential side street.
Property Size2,096 SF
Days on Market2
Property Features for 105 Lombard Ave
General Information
Standard status
Active
Size
2,096 SF
Property subtype
Multi Family
Site & Location
Road Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$3,720
Amenities
private backyard
Building Details
Building Size
2,096 SF
Year Built
1920
Stories
2
Units
2
Listed By:
James Callen
(315) 457-3356
Source:
Elliman
Added: Sep 11
Last Checked: Sep 11 at 2:28PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of James Callen
Investment Insights
Based on property information with market context.
Built in 1920, this owner-occupied multifamily property includes a private backyard and a broad set of completed improvements. Updates include furnaces, windows, roofing, siding, sewer line, doors, flooring, toilets, and sinks, providing substantial work across the building’s major systems and finishes.
The property is located at 105 Lombard Ave in Syracuse, NY 13210. Transportation and neighborhood mobility scores include a bike score of 72, a walk score of 53, and a transit score of 50.
The property is located at 105 Lombard Ave in Syracuse, NY 13210. Transportation and neighborhood mobility scores include a bike score of 72, a walk score of 53, and a transit score of 50.
Key Highlights
- Owner‑occupied multifamily property built in 1920
- Updates include furnaces, windows, roof, siding, and sewer line
- Additional improvements include doors, flooring, toilets, and sinks
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
$19,790
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
8.25%
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%
$395,800
$395.8K
Cap Rate 7%
$282,714
$282.7K
Cap Rate 9%
$219,889
$219.9K
Market Conditions
NOI Build-Up for 2,096 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
$38.5K $18.36/SF
− Vacancy
−$2.5K −$1.19/SF
EGI
$36.0K $17.17/SF
− OpEx
−$16.2K −$7.72/SF
NOI
$19.8K $9.44/SF
Area
Syracuse, NY
Vacancy
6.50%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
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%
$395,800
Cap Rate 7%
$282,714
Cap Rate 9%
$219,889
Alternative Uses
Best Use
Apartment 5plus
$282.7K
$247.4K – $329.8K
NOI $19,790 @ 7.0% cap · market cap 8.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$364.3K
$318.7K – $425.0K
NOI $25,498 @ 7.0% cap · market cap 10.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,301
Businesses Nearby
Explore this area
Business Placement
Demographics for 13210, NY
23,150
Population
9,774
Households
2.4
Avg Household Size
27
Median Age
50%
College-Educated
92%
High-School Grad
3.8 sq mi
ZIP Area
6,092
Density / Sq Mi
$38,783
Median Household Income
$20,554
Median Earnings
$1,081
Median Rent
$167,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Owner-occupied property with extensive updates and a private backyard on a residential side street.
Where is this multifamily property located?
The property is located at 105 Lombard Ave Syracuse, NY.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Owner‑occupied multifamily property built in 1920; Updates include furnaces, windows, roof, siding, and sewer line; Additional improvements include doors, flooring, toilets, and sinks
