Updated Two-Unit
New
For Sale
$189,900
136 Wadsworth St, Syracuse, NY 13203
Two apartments include three-bedroom and one-bedroom layouts with recent improvements to roofing, electrical systems, windows, and bathrooms.
Property Size1,440 SF
Days on Market3
Property Features for 136 Wadsworth St
General Information
Standard status
Active
Size
1,440 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 3BR, 1 x 1BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,160
Building Details
Building Size
1,440 SF
Year Built
1900
Units
2
Construction
bungalow
Listing Agency:
eXp Realty
(315) 559-0696
Listed By:
Glenn Riemenschneider
(315) 559-0696
Source:
Elliman
Added: Aug 30
Changed: Aug 31
Last Checked: Aug 31 at 6:44PM
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 eXp Realty
Investment Insights
Based on property information with market context.
Built in 1900, this two-family bungalow contains a three-bedroom apartment on the first floor and a one-bedroom apartment above. The property has received several updates, including a brand-new roof in 2026, new first-floor windows, two new electrical panels, a new service line, and bathroom improvements on both levels. The second-floor bathroom was renovated, while the first-floor bathroom received a new toilet and vanity.
Both units are served by furnaces approximately 5 years old. The front porch has also been completely rebuilt, adding to the recent improvement history. Located at 136 Wadsworth St in Syracuse, the property records a walk score of 51, a bike score of 47, and a transit score of 36.
Both units are served by furnaces approximately 5 years old. The front porch has also been completely rebuilt, adding to the recent improvement history. Located at 136 Wadsworth St in Syracuse, the property records a walk score of 51, a bike score of 47, and a transit score of 36.
Key Highlights
- Two‑family bungalow with 3‑bedroom and 1‑bedroom apartments
- Brand‑new roof installed in 2026
- Two new electrical panels and new service line
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
$15,322
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
8.07%
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%
$306,440
$306.4K
Cap Rate 7%
$218,886
$218.9K
Cap Rate 9%
$170,244
$170.2K
Market Conditions
NOI Build-Up for 1,440 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
$23.3K $16.20/SF
− Vacancy
−$1.4K −$1.00/SF
EGI
$21.9K $15.20/SF
− OpEx
−$6.6K −$4.56/SF
NOI
$15.3K $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%
$306,440
Cap Rate 7%
$218,886
Cap Rate 9%
$170,244
Alternative Uses
Best Use
Multifamily LT 5
$218.9K
$191.5K – $255.4K
NOI $15,322 @ 7.0% cap · market cap 8.07%
Second Best
Apartment 5plus
$194.2K
$170.0K – $226.6K
NOI $13,596 @ 7.0% cap · market cap 7.16%
Theoretical Best
Office A
$250.3K
$219.0K – $292.0K
NOI $17,518 @ 7.0% cap · market cap 9.22%
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
546
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two apartments include three-bedroom and one-bedroom layouts with recent improvements to roofing, electrical systems, windows, and bathrooms.
Where is this duplex located?
The property is located at 136 Wadsworth St Syracuse, NY.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: Two‑family bungalow with 3‑bedroom and 1‑bedroom apartments; Brand‑new roof installed in 2026; Two new electrical panels and new service line
