Duplex with Hardwood
New
For Sale
$309,900
140 Forest Hill Drive 42, Syracuse, NY 13206
Two residential flats provide three bedrooms and one bathroom each, with the first floor currently vacant.
Property Size2,561 SF
Days on Market7
Property Features for 140 Forest Hill Drive 42
General Information
Standard status
Active
Size
2,561 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,058
Building Details
Building Size
2,561 SF
Year Built
1915
Listing Agency:
Skinner & Assoc. Realty LLC
(315) 373-6896
Listed By:
Stephen Skinner · License #10491205007
(315) 373-6896
Source:
Griffith-realty
Added: Aug 27
Changed: Aug 31
Last Checked: Aug 31 at 9:23PM
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 Skinner & Assoc. Realty LLC
Investment Insights
Based on property information with market context.
Built in 1915, this two-family duplex contains two residential flats, each configured with three bedrooms and one bathroom. The first-floor unit is vacant, while the property retains hardwood flooring and has received interior and exterior painting. A newer roof is also noted among the recent property updates.
The building is located at 140 Forest Hill Drive 42 in Syracuse, New York 13206. Its residential configuration and separate flat layout provide a straightforward format for an owner-occupant or income-property buyer, without relying on changes to the existing arrangement.
The building is located at 140 Forest Hill Drive 42 in Syracuse, New York 13206. Its residential configuration and separate flat layout provide a straightforward format for an owner-occupant or income-property buyer, without relying on changes to the existing arrangement.
Key Highlights
- Two‑family duplex with two residential flats
- Each flat includes 3 bedrooms and 1 bathroom
- First‑floor unit is vacant
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
$27,250
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
8.79%
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%
$545,000
$545.0K
Cap Rate 7%
$389,286
$389.3K
Cap Rate 9%
$302,778
$302.8K
Market Conditions
NOI Build-Up for 2,561 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
$41.5K $16.20/SF
− Vacancy
−$2.6K −$1.00/SF
EGI
$38.9K $15.20/SF
− OpEx
−$11.7K −$4.56/SF
NOI
$27.2K $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%
$545,000
Cap Rate 7%
$389,286
Cap Rate 9%
$302,778
Alternative Uses
Best Use
Multifamily LT 5
$389.3K
$340.6K – $454.2K
NOI $27,250 @ 7.0% cap · market cap 8.79%
Second Best
Apartment 5plus
$345.4K
$302.3K – $403.0K
NOI $24,180 @ 7.0% cap · market cap 7.80%
Theoretical Best
Office A
$445.1K
$389.4K – $519.3K
NOI $31,155 @ 7.0% cap · market cap 10.05%
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
821
Businesses Nearby
Explore this area
Business Placement
Demographics for 13206, NY
16,599
Population
8,460
Households
2
Avg Household Size
38
Median Age
27%
College-Educated
90%
High-School Grad
4.1 sq mi
ZIP Area
4,049
Density / Sq Mi
$60,314
Median Household Income
$40,429
Median Earnings
$952
Median Rent
$130,300
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 - Two residential flats provide three bedrooms and one bathroom each, with the first floor currently vacant.
Where is this duplex located?
The property is located at 140 Forest Hill Drive 42 Syracuse, NY.
What is the asking price?
The asking price for this property is $309,900.
What are key features of this property?
This property features: Two‑family duplex with two residential flats; Each flat includes 3 bedrooms and 1 bathroom; First‑floor unit is vacant
