Two-Family Property with Detached
For Sale
$149,900
1317 Butternut Street, Syracuse, NY 13208
Currently configured as a single-family residence with a full basement, enclosed porch, and detached garage.
Property Size1,360 SF
Days on Market12
Property Features for 1317 Butternut Street
General Information
Standard status
Active
Size
1,360 SF
Property subtype
Multi-Family
Building Details
Building Size
1,360 SF
Year Built
1910
Stories
1
Listing Agency:
Howard Hanna Real Estate
Listed By:
Maureen Kostadinov · License #10401404167
(315) 308-1468
Source:
Stacyfaunce.kw
Added: Sep 15
Changed: Sep 16
Last Checked: Sep 26 at 3:37AM
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 Howard Hanna Real Estate
Investment Insights
Based on property information with market context.
Built in 1910, this approximately 1,360-square-foot property is classified as a two-family residence and is currently arranged for single-family use. The layout includes 4 bedrooms and 2 full bathrooms, along with a full basement, enclosed porch space, detached garage, and gas forced-air heat.
The property has one electric meter, one gas meter, and two water meters. Its two-family status has been confirmed by the City of Syracuse Codes Department and is also reflected in public records. Located on Butternut Street in Syracuse, the property is near shopping, dining, transportation, and everyday amenities.
The property has one electric meter, one gas meter, and two water meters. Its two-family status has been confirmed by the City of Syracuse Codes Department and is also reflected in public records. Located on Butternut Street in Syracuse, the property is near shopping, dining, transportation, and everyday amenities.
Key Highlights
- Two‑family classification confirmed by the City of Syracuse Codes Department
- Approximately 1,360 square feet with 4 bedrooms and 2 full bathrooms
- Currently configured for single‑family use
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
$12,841
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
8.57%
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%
$256,820
$256.8K
Cap Rate 7%
$183,443
$183.4K
Cap Rate 9%
$142,678
$142.7K
Market Conditions
NOI Build-Up for 1,360 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
$25.0K $18.36/SF
− Vacancy
−$1.6K −$1.19/SF
EGI
$23.3K $17.17/SF
− OpEx
−$10.5K −$7.72/SF
NOI
$12.8K $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%
$256,820
Cap Rate 7%
$183,443
Cap Rate 9%
$142,678
Alternative Uses
Best Use
Multifamily LT 5
$206.7K
$180.9K – $241.2K
NOI $14,471 @ 7.0% cap · market cap 9.65%
Second Best
Apartment 5plus
$183.4K
$160.5K – $214.0K
NOI $12,841 @ 7.0% cap · market cap 8.57%
Theoretical Best
Office A
$236.4K
$206.8K – $275.8K
NOI $16,545 @ 7.0% cap · market cap 11.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
797
Businesses Nearby
Explore this area
Business Placement
Demographics for 13208, NY
23,603
Population
10,325
Households
2.3
Avg Household Size
33
Median Age
19%
College-Educated
77%
High-School Grad
4.1 sq mi
ZIP Area
5,757
Density / Sq Mi
$40,641
Median Household Income
$35,015
Median Earnings
$999
Median Rent
$110,300
Median Home Value
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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 - Currently configured as a single-family residence with a full basement, enclosed porch, and detached garage.
Where is this duplex located?
The property is located at 1317 Butternut Street Syracuse, NY.
What is the asking price?
The asking price for this property is $149,900.
What are key features of this property?
This property features: Two‑family classification confirmed by the City of Syracuse Codes Department; Approximately 1,360 square feet with 4 bedrooms and 2 full bathrooms; Currently configured for single‑family use
