Duplex with Side Porch and Driveway
For Sale
$185,000
Pending
115 Coral Avenue, Syracuse, NY 13207
MULTI_FAMILY - Syracuse, NY
Property Size1,296 SF
Lot Size0.11 Acres
Days on Market109
Property Features for 115 Coral Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 1, Bedroom 4, Bedroom 1, Bedroom 2, Bathroom 2, Bedroom 3
Appliances
ElectricWaterHeater, GasWaterHeater
Subdivision
Walnut Grove
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Syracuse
Middle school district
Syracuse
High school district
Syracuse
Standard status
Pending
APN
311500-073-000-0014-006-001-0000
Size
1,296 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
3095
Utilities
Heating system
Natural Gas, Forced Air, Electric (Heating)
Water source
Public
Amenities
spacious side porch
Building Details
Year built
1932
Floors in Building
2
Number of units
2
Flooring type
Laminate, Varies
Building materials
WoodSiding
Listing Agency:
Empire Realty Group
(585) 347-4900
Listed By:
Tonya Britton · License #10401333644
(315) 807-1751
Added: Apr 23
Changed: Aug 4
Last Checked: Aug 9 at 2:06PM
MLS# S1676061
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 at 115 Coral Avenue in Syracuse, NY offers a two-unit residential setup with both units fully occupied. The property includes a large driveway for ample off-street parking and a spacious side porch. Interior finishes feature varied flooring and laminate flooring. Heating is provided by forced air systems using natural gas and electric (heating). Water is supplied by public source, with electric and gas water heaters.
Constructed in 1932, the building features wood siding and includes a basement as well as multiple bedrooms and bathrooms across the two units. The lot size is 0.1133 acres, and the property size is 1,296 square feet.
For investors seeking an income-producing residential duplex with immediate occupancy, this configuration supports straightforward ongoing rental operations with dedicated parking and porch space.
Constructed in 1932, the building features wood siding and includes a basement as well as multiple bedrooms and bathrooms across the two units. The lot size is 0.1133 acres, and the property size is 1,296 square feet.
For investors seeking an income-producing residential duplex with immediate occupancy, this configuration supports straightforward ongoing rental operations with dedicated parking and porch space.
Key Highlights
- Two‑unit duplex with both units fully occupied
- Large driveway with ample off‑street parking
- Spacious side porch for unit access and outdoor space
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
$13,790
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
7.45%
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%
$275,800
$275.8K
Cap Rate 7%
$197,000
$197.0K
Cap Rate 9%
$153,222
$153.2K
Market Conditions
NOI Build-Up for 1,296 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
$21.0K $16.20/SF
− Vacancy
−$1.3K −$1.00/SF
EGI
$19.7K $15.20/SF
− OpEx
−$5.9K −$4.56/SF
NOI
$13.8K $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%
$275,800
Cap Rate 7%
$197,000
Cap Rate 9%
$153,222
Alternative Uses
Best Use
Multifamily LT 5
$197.0K
$172.4K – $229.8K
NOI $13,790 @ 7.0% cap · market cap 7.45%
Second Best
Apartment 5plus
$174.8K
$153.0K – $203.9K
NOI $12,236 @ 7.0% cap · market cap 6.61%
Theoretical Best
Office A
$225.2K
$197.1K – $262.8K
NOI $15,766 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
453
Businesses Nearby
Explore this area
Business Placement
Demographics for 13207, NY
13,140
Population
5,954
Households
2.2
Avg Household Size
36
Median Age
33%
College-Educated
90%
High-School Grad
3.2 sq mi
ZIP Area
4,106
Density / Sq Mi
$59,495
Median Household Income
$39,082
Median Earnings
$1,111
Median Rent
$110,500
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 - Well-maintained two-unit duplex with both units fully occupied, a spacious side porch, and ample off-street parking.
Where is this duplex located?
The property is located at 115 Coral Avenue Syracuse, NY.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: Two‑unit duplex with both units fully occupied; Large driveway with ample off‑street parking; Spacious side porch for unit access and outdoor space
