Remodeled Two-Family
New
For Sale
$225,000
514 E Laurel St, Syracuse, NY 13203
Updated duplex with three-bedroom units, a garage, off-street parking, and additional outdoor space.
Property Size2,138 SF
Days on Market6
Property Features for 514 E Laurel St
General Information
Standard status
Active
Size
2,138 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,145
Amenities
outdoor space
Building Details
Building Size
2,138 SF
Year Built
1920
Buildings
1
Stories
2
Units
2
Listing Agency:
Integrated Real Estate Ser LLC
Listed By:
Alan Fritz Lathrop · License #30LA0731266
(315) 254-3557
Source:
Elliman
Added: Sep 19
Last Checked: Sep 22 at 7:44PM
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 Integrated Real Estate Ser LLC
Investment Insights
Based on property information with market context.
Located at 514 E Laurel St in Syracuse, this duplex was built in 1920 and substantially updated with new kitchens, bathrooms, paint, flooring, furnaces, circuit breakers, and windows. The property contains two residential units, each configured with three bedrooms and flexible living areas.
Exterior features include a one-car garage, off-street parking, and additional outdoor space at the rear. Walk Score is 51, Bike Score is 47, and Transit Score is 36, reflecting somewhat walkable, somewhat bikeable, and some transit access in the surrounding area.
Exterior features include a one-car garage, off-street parking, and additional outdoor space at the rear. Walk Score is 51, Bike Score is 47, and Transit Score is 36, reflecting somewhat walkable, somewhat bikeable, and some transit access in the surrounding area.
Key Highlights
- Two‑unit duplex at 514 E Laurel St, Syracuse, NY 13203
- Each unit includes three bedrooms
- Updated kitchens, bathrooms, paint, flooring, furnaces, circuit breakers, and windows
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
$20,186
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
8.97%
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%
$403,720
$403.7K
Cap Rate 7%
$288,371
$288.4K
Cap Rate 9%
$224,289
$224.3K
Market Conditions
NOI Build-Up for 2,138 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
$39.3K $18.36/SF
− Vacancy
−$2.6K −$1.19/SF
EGI
$36.7K $17.17/SF
− OpEx
−$16.5K −$7.72/SF
NOI
$20.2K $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%
$403,720
Cap Rate 7%
$288,371
Cap Rate 9%
$224,289
Alternative Uses
Best Use
Multifamily LT 5
$325.0K
$284.4K – $379.2K
NOI $22,749 @ 7.0% cap · market cap 10.11%
Second Best
Apartment 5plus
$288.4K
$252.3K – $336.4K
NOI $20,186 @ 7.0% cap · market cap 8.97%
Theoretical Best
Office A
$371.6K
$325.1K – $433.5K
NOI $26,009 @ 7.0% cap · market cap 11.56%
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
2,144
Businesses Nearby
Explore this area
Business Placement
Demographics for 13203, NY
16,240
Population
9,092
Households
1.8
Avg Household Size
37
Median Age
28%
College-Educated
84%
High-School Grad
1.7 sq mi
ZIP Area
9,553
Density / Sq Mi
$46,526
Median Household Income
$38,240
Median Earnings
$953
Median Rent
$148,700
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 - Updated duplex with three-bedroom units, a garage, off-street parking, and additional outdoor space.
Where is this duplex located?
The property is located at 514 E Laurel St Syracuse, NY.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Two‑unit duplex at 514 E Laurel St, Syracuse, NY 13203; Each unit includes three bedrooms; Updated kitchens, bathrooms, paint, flooring, furnaces, circuit breakers, and windows
