Side-by-Side Duplex with Separate
122 Summit Avenue, Geddes, NY 13209
For Sale
New
$359,000
Each residence has three second-floor bedrooms, 1.5 baths, and its own heating system and gas meter.
Property Size2,304 SF
Days on Market6
Property Features for 122 Summit Avenue
General Information
Standard status
Size
Property subtype
Site & Location
Highway Access
Utilities to Site
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Taxes and HOA fees
Annual Taxes
Amenities
covered front porch
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Howard Hanna Real Estate
Listed By:
Donna Wills · License NY #10401367840
(315) 487-0040
Source:
Griffith-realty
Added: Nov 9
Changed: Nov 12
Last Checked: Nov 12 at 2:37PM
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 Howard Hanna Real Estate
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Investment Insights
Based on property information with market context.
This side-by-side duplex, built in 1945, contains two residences, each with three bedrooms and 1.5 baths. All bedrooms are on the second floor. One unit has a rear sunroom; the other includes a separate dining room. A covered front porch and a driveway along the left side of the home complete the exterior features.
The two residences have separate utilities, including individual gas meters and heating/HVAC systems. The property is in Solvay and receives electric service from Solvay Electric. The sale is as-is.
The two residences have separate utilities, including individual gas meters and heating/HVAC systems. The property is in Solvay and receives electric service from Solvay Electric. The sale is as-is.
Key Highlights
- Two side‑by‑side units, each with 3 bedrooms and 1.5 baths
- Built in 1945
- One residence includes a rear sunroom; the other has a separate dining room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,515
Cap Rate
6.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$490,300
$490.3K
Cap Rate 7%
$350,214
$350.2K
Cap Rate 9%
$272,389
$272.4K
Market Conditions
NOI Build-Up for 2,304 SF
Gross rent
$37.3K $16.20/SF
− Vacancy
−$2.3K −$1.00/SF
EGI
$35.0K $15.20/SF
− OpEx
−$10.5K −$4.56/SF
NOI
$24.5K $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%
$490,300
Cap Rate 7%
$350,214
Cap Rate 9%
$272,389
Alternative Uses
Best Use
Multifamily LT 5
$350.2K
$306.4K – $408.6K
NOI $24,515 @ 7.0% cap · market cap 6.83%
Second Best
Apartment 5plus
$310.8K
$271.9K – $362.6K
NOI $21,754 @ 7.0% cap · market cap 6.06%
Theoretical Best
Office A
$400.4K
$350.4K – $467.1K
NOI $28,028 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
289
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
$146,200
Median Home Value
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Market
Average Price Trend$/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 - Each residence has three second-floor bedrooms, 1.5 baths, and its own heating system and gas meter.
Where is this duplex located?
The property is located at 122 Summit Avenue Geddes, NY.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: Two side‑by‑side units, each with 3 bedrooms and 1.5 baths; Built in 1945; One residence includes a rear sunroom; the other has a separate dining room
