Updated Two-Unit
New
For Sale
$265,000
129 Ashworth Place, Syracuse, NY 13210
Separate entrances serve the two residential units, with porches and a fenced front yard.
Property Size2,500 SF
Days on Market7
Property Features for 129 Ashworth Place
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
blank canvas
Additional Details
Multifamily Units
2
Amenities
upper and lower porches
fenced-in front yard
Building Details
Building Size
2,500 SF
Year Built
1920
Stories
2
Listing Agency:
Rooftop Realty Group LLC
Listed By:
Melissa During · License #10301218972
(315) 944-2198
Source:
Stacyfaunce.kw
Added: Sep 6
Changed: Sep 10
Last Checked: Sep 11 at 4:37AM
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 Rooftop Realty Group LLC
Investment Insights
Based on property information with market context.
Located at 129 Ashworth Place in Syracuse, this 2,500-square-foot duplex was built in 1920 and contains two residential units with separate entrances. The upper unit has been updated and includes access to an upper porch. The lower unit is unfinished, providing space for a future interior buildout.
Exterior features include upper and lower porches along with a fenced front yard. The property is near Syracuse University and the amenities of Syracuse, placing residential space and outdoor features within an established city setting.
Exterior features include upper and lower porches along with a fenced front yard. The property is near Syracuse University and the amenities of Syracuse, placing residential space and outdoor features within an established city setting.
Key Highlights
- 2,500‑square‑foot duplex with two residential units
- Built in 1920
- Separate entrances for each unit
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
$23,604
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
8.91%
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%
$472,080
$472.1K
Cap Rate 7%
$337,200
$337.2K
Cap Rate 9%
$262,267
$262.3K
Market Conditions
NOI Build-Up for 2,500 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
$45.9K $18.36/SF
− Vacancy
−$3.0K −$1.19/SF
EGI
$42.9K $17.17/SF
− OpEx
−$19.3K −$7.72/SF
NOI
$23.6K $9.44/SF
Area
Syracuse, NY
Vacancy
6.50%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
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%
$472,080
Cap Rate 7%
$337,200
Cap Rate 9%
$262,267
Alternative Uses
Best Use
Multifamily LT 5
$380.0K
$332.5K – $443.4K
NOI $26,601 @ 7.0% cap · market cap 10.04%
Second Best
Apartment 5plus
$337.2K
$295.1K – $393.4K
NOI $23,604 @ 7.0% cap · market cap 8.91%
Theoretical Best
Office A
$434.5K
$380.2K – $506.9K
NOI $30,413 @ 7.0% cap · market cap 11.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,555
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Separate entrances serve the two residential units, with porches and a fenced front yard.
Where is this duplex located?
The property is located at 129 Ashworth Place Syracuse, NY.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: 2,500‑square‑foot duplex with two residential units; Built in 1920; Separate entrances for each unit
