Updated Two-Unit
New
For Sale
$265,000
129 Ashworth Place, Syracuse, NY 13210
Residential, Syracuse, NY
Property Size2,500 SF
Lot Size0.05 Acres
Price / SF$106
Days on Market3
Property Features for 129 Ashworth Place
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Bedroom 2, Basement, Bathroom 1
Parking features
Driveway
Patio and Porch features
Porch
Exterior features
Fence
Fencing
Fenced
Appliances
WaterHeater
Subdivision
City/Syracuse
Lot features
Rectangular, Rectangular Lot
Elementary school district
Syracuse
Middle school district
Syracuse
High school district
Syracuse
Directions
From Syracuse University, take E Genesee St to Westcott St. Continue toward the University neighborhood and follow GPS to 129 Ashworth Pl, Syracuse, NY 13210. Property will be on Ashworth Place.
Standard status
Active
APN
311500-048-000-0007-010-000-0000
Size
2,500 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
3537
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Varies, Laminate
Architectural style
Other
Listing Agency:
Rooftop Realty Group LLC
Listed By:
Melissa During · License #10301218972
(315) 944-2198
Added: Sep 4
Changed: Sep 6
Last Checked: Sep 6 at 2:06AM
MLS# S1712622
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 2,500-square-foot duplex, built in 1920, contains two separately accessed residences. The upper unit has been updated and includes access to an upper porch, while the lower unit is unfinished and ready for interior completion. Vinyl, laminate, and varied flooring are present, with natural gas forced-air heat and a water heater serving the property.
The 0.053-acre parcel includes upper and lower porches, a fenced front yard, and a driveway. Public water is available. Positioned in Syracuse near Syracuse University, the property supports an owner-occupant arrangement, two-unit rental use, or a multigenerational living setup, subject to the buyer’s intended improvements and use.
The 0.053-acre parcel includes upper and lower porches, a fenced front yard, and a driveway. Public water is available. Positioned in Syracuse near Syracuse University, the property supports an owner-occupant arrangement, two-unit rental use, or a multigenerational living setup, subject to the buyer’s intended improvements and use.
Key Highlights
- Two‑unit duplex with separate entrances for each residence
- 2,500 square feet on a 0.053‑acre parcel
- Upper unit has been updated and opens to an upper porch
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
Property Profile
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
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 - Separate entrances, an improved upper residence, and a lower level ready for completion support flexible occupancy options.
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: Two‑unit duplex with separate entrances for each residence; 2,500 square feet on a 0.053‑acre parcel; Upper unit has been updated and opens to an upper porch
