Two-Family Residential Income
For Sale
$220,000
Pending
905 Cogswell Ave, Geddes, NY 13209
Well-maintained two-family with updated systems, two in-unit laundry setups, and detached garage income potential.
Property Size1,636 SF
Days on Market70
Property Features for 905 Cogswell Ave
General Information
Standard status
Pending
Size
1,636 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,004
Building Details
Building Size
1,636 SF
Year Built
1890
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
MyTown Realty
(315) 497-6500
Listed By:
David J. Manzano Sr. · License #30MA0711340
(315) 497-6500
Source:
Elliman
Added: Jun 1
Changed: Aug 8
Last Checked: Aug 8 at 1:19PM
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 MyTown Realty
Investment Insights
Based on property information with market context.
This well-maintained two-family property offers two separate apartments with practical, tenant-friendly layouts. The first-floor unit includes an enclosed front porch entry, a bright living room, two bedrooms, a storage closet, brand-new wall-to-wall carpeting, new vinyl porch flooring, and fresh paint throughout. An eat-in kitchen provides access to a common lower-level laundry area with a Maytag washer and dryer included, along with a modestly updated full bath and an enclosed rear porch. The second-floor apartment is configured with a rear entry, an eat-in kitchen, living room, full bath, and three bedrooms, plus interior access to the lower-level basement laundry; the second-floor washer and dryer are tenant-owned and excluded from the sale.
A detached 2.5-car garage supports the property, including electric service, automatic openers, and ample off-street parking. The right-side garage bay is described as used by the first-floor apartment previously, while the left-side 1.5-car bay is independently rented month-to-month. Tenants pay their own separate gas, electric, and heating expenses. Reported updates include vinyl siding, circuit breakers, copper plumbing, a newer PVC sewer line to the road, and an approximately 7-year-old roof.
With one apartment currently vacant and ready to occupy, and the other operating on a month-to-month basis, this duplex can suit both investors seeking rental income and owner-occupants looking to offset housing costs with separate utility billing and additional garage income.
A detached 2.5-car garage supports the property, including electric service, automatic openers, and ample off-street parking. The right-side garage bay is described as used by the first-floor apartment previously, while the left-side 1.5-car bay is independently rented month-to-month. Tenants pay their own separate gas, electric, and heating expenses. Reported updates include vinyl siding, circuit breakers, copper plumbing, a newer PVC sewer line to the road, and an approximately 7-year-old roof.
With one apartment currently vacant and ready to occupy, and the other operating on a month-to-month basis, this duplex can suit both investors seeking rental income and owner-occupants looking to offset housing costs with separate utility billing and additional garage income.
Key Highlights
- Two‑family home built in 1890 with updated exterior and systems
- First‑floor unit: enclosed front porch, bright living room, 2 bedrooms, fresh paint, and brand‑new wall‑to‑wall carpeting
- Two in‑unit laundry setups: first‑floor includes Maytag washer/dryer in common lower‑level area; second‑floor laundry includes tenant‑owned washer/dryer excluded from sale
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
2
Residential units
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 - Well-maintained two-family with updated systems, two in-unit laundry setups, and detached garage income potential.
Where is this duplex located?
The property is located at 905 Cogswell Ave Geddes, 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: Two‑family home built in 1890 with updated exterior and systems; First‑floor unit: enclosed front porch, bright living room, 2 bedrooms, fresh paint, and brand‑new wall‑to‑wall carpeting; Two in‑unit laundry setups: first‑floor includes Maytag washer/dryer in common lower‑level area; second‑floor laundry includes tenant‑owned washer/dryer excluded from sale
