Two-Unit Duplex with Detached
107 Palmer Drive, North Syracuse, NY 13212
For Sale
$239,900
Two separate residences offer private entry, shared laundry, and a mix of occupied and vacant space.
Property Size1,964 SF
Price / SF$122.15
Days on Market39
Property Features for 107 Palmer Drive
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Highway Access
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
shared laundry
Programmable Thermostat
Enclosed Porch
Fence
Porch
Private Yard
See Remarks
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Hunt Real Estate ERA
(315) 699-3200
Listed By:
Heather Saxton
(315) 727-3313
Source:
Geneseeriverrealty
Added: Oct 7
Changed: Nov 8
Last Checked: Nov 13 at 3:31PM
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 Hunt Real Estate ERA
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Investment Insights
Based on property information with market context.
Built in 1930, this 1,964-square-foot duplex contains two apartments, each with two bedrooms, one full bathroom, and a private entrance. Original hardwood floors remain, and the first-floor residence has an enclosed porch. A full basement accommodates shared laundry and storage. Outside, the property includes a detached garage, off-street parking, and a partially fenced backyard.
The first-floor apartment has had the same tenant for over 12 years; the second-floor unit is vacant. Local shops, restaurants, and everyday services are within walking distance, with major highways accessible nearby.
The first-floor apartment has had the same tenant for over 12 years; the second-floor unit is vacant. Local shops, restaurants, and everyday services are within walking distance, with major highways accessible nearby.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 full bath
- 1,964 square feet; built in 1930
- First‑floor tenant in place for over 12 years; second‑floor apartment vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,898
Cap Rate
8.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$417,960
$418.0K
Cap Rate 7%
$298,543
$298.5K
Cap Rate 9%
$232,200
$232.2K
Market Conditions
NOI Build-Up for 1,964 SF
Gross rent
$31.8K $16.20/SF
− Vacancy
−$2.0K −$1.00/SF
EGI
$29.9K $15.20/SF
− OpEx
−$9.0K −$4.56/SF
NOI
$20.9K $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 Rate 5%
$417,960
Cap Rate 7%
$298,543
Cap Rate 9%
$232,200
Alternative Uses
Best Use
Multifamily LT 5
$298.5K
$261.2K – $348.3K
NOI $20,898 @ 7.0% cap · market cap 8.71%
Second Best
Apartment 5plus
$264.9K
$231.8K – $309.1K
NOI $18,543 @ 7.0% cap · market cap 7.73%
Theoretical Best
Office A
$341.3K
$298.7K – $398.2K
NOI $23,892 @ 7.0% cap · market cap 9.96%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Who owns this building?
See the owner, sales and loan history
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
519
Businesses Nearby
Explore this area
Business Placement
Demographics for 13212, NY
20,220
Population
9,213
Households
2.2
Avg Household Size
45
Median Age
28%
College-Educated
93%
High-School Grad
11.1 sq mi
ZIP Area
1,822
Density / Sq Mi
$74,931
Median Household Income
$45,740
Median Earnings
$1,027
Median Rent
$157,400
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Onondaga County, NY
Properties on Market for Duplexes in Onondaga County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer private entry, shared laundry, and a mix of occupied and vacant space.
Where is this duplex located?
The property is located at 107 Palmer Drive North Syracuse, NY.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms and 1 full bath; 1,964 square feet; built in 1930; First‑floor tenant in place for over 12 years; second‑floor apartment vacant
