Renovated Two-Family
For Sale
$299,900
Pending
110 Westcott St, Syracuse, NY 13210
Fully renovated two-unit building with two 4-bedroom, 1-bath apartments, furnished and ready for new occupancy.
Property Size1,900 SF
Days on Market87
Property Features for 110 Westcott St
General Information
Standard status
Pending
Size
1,900 SF
Property subtype
Multi Family
Additional Details
Furnished
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,003
Building Details
Building Size
1,900 SF
Year Built
1915
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
Hunt Real Estate ERA
(315) 446-4681
Listed By:
Dante Belmonte · License #10401323828
(315) 446-4681
Source:
Elliman
Added: Jun 3
Changed: Aug 8
Last Checked: Jul 23 at 9:15AM
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
Investment Insights
Based on property information with market context.
Completely renovated two-family residence with everything updated throughout. The property contains two separate units, and each unit is configured with 4 bedrooms and 1 full bathroom. Both units are fully furnished, and the furnishings are set to convey with the sale. The building is fully vacant, giving the new owner the option to occupy the property or lease to new tenants.
The property is located in the Syracuse University neighborhood on Westcott St. WalkScore is listed as 69 (somewhat walkable), BikeScore as 52 (bikeable), and transitScore as 42 (some transit).
Each unit’s layout is identical, supporting straightforward leasing and management with two 4-bedroom, 1-bath apartments within the same renovated building.
The property is located in the Syracuse University neighborhood on Westcott St. WalkScore is listed as 69 (somewhat walkable), BikeScore as 52 (bikeable), and transitScore as 42 (some transit).
Each unit’s layout is identical, supporting straightforward leasing and management with two 4-bedroom, 1-bath apartments within the same renovated building.
Key Highlights
- Completely renovated two‑family building (built 1915) in the Syracuse University neighborhood on Westcott St
- Two units, each with 4 bedrooms and 1 full bathroom
- Both units are fully furnished and all furnishings convey with the 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
$20,217
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
6.74%
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%
$404,340
$404.3K
Cap Rate 7%
$288,814
$288.8K
Cap Rate 9%
$224,633
$224.6K
Market Conditions
NOI Build-Up for 1,900 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
$30.8K $16.20/SF
− Vacancy
−$1.9K −$1.00/SF
EGI
$28.9K $15.20/SF
− OpEx
−$8.7K −$4.56/SF
NOI
$20.2K $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%
$404,340
Cap Rate 7%
$288,814
Cap Rate 9%
$224,633
Alternative Uses
Best Use
Multifamily LT 5
$288.8K
$252.7K – $337.0K
NOI $20,217 @ 7.0% cap · market cap 6.74%
Second Best
Apartment 5plus
$256.3K
$224.2K – $299.0K
NOI $17,939 @ 7.0% cap · market cap 5.98%
Theoretical Best
Office A
$330.2K
$288.9K – $385.2K
NOI $23,114 @ 7.0% cap · market cap 7.71%
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
992
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
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 - Fully renovated two-unit building with two 4-bedroom, 1-bath apartments, furnished and ready for new occupancy.
Where is this duplex located?
The property is located at 110 Westcott St Syracuse, NY.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Completely renovated two‑family building (built 1915) in the Syracuse University neighborhood on Westcott St; Two units, each with 4 bedrooms and 1 full bathroom; Both units are fully furnished and all furnishings convey with the sale
