Duplex with Hardwood
For Sale
$185,000
Pending
1435 Midland Avenue, Syracuse, NY 13205
MULTI_FAMILY - Other - Syracuse, NY
Property Size1,728 SF
Lot Size0.11 Acres
Days on Market105
Property Features for 1435 Midland Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 2, Basement, Bedroom 4, Bedroom 1, Bathroom 1, Bedroom 2
Interior features
AirFiltration
Appliances
GasWaterHeater
Subdivision
Syracuse
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Syracuse
Middle school district
Syracuse
High school district
Syracuse
Standard status
Pending
APN
311500-084-000-0025-022-000-0000
Size
1,728 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
1979
Utilities
Heating system
Natural Gas
Water source
Public
Amenities
Hardwood floors
newly painted
new stoves
new refrigerators
new microwaves
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Varies, Laminate
Building materials
AluminumSiding
Architectural style
Other
Listing Agency:
Empire Realty Group
(585) 347-4900
Listed By:
Tonya Britton · License #10401333644
(315) 807-1751
Added: Apr 30
Changed: Aug 4
Last Checked: Aug 12 at 10:06PM
MLS# S1677194
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 duplex at 1435 Midland Avenue offers hardwood flooring throughout with heating provided by natural gas. The home includes public water service and an air filtration interior feature. Flooring includes hardwood plus laminate and varied materials, and the exterior construction is aluminum siding.
The property is equipped with a gas water heater and supports a practical layout that includes four bedrooms and two bathrooms, along with a basement. Appliances listed include a gas water heater, and the remarks indicate all new stoves, refrigerators, and microwaves. The building was constructed in 1920.
The unit configuration and long-term occupancy mentioned in the remarks may support an owner-occupant or portfolio approach. The property is offered “sold as is.”
The property is equipped with a gas water heater and supports a practical layout that includes four bedrooms and two bathrooms, along with a basement. Appliances listed include a gas water heater, and the remarks indicate all new stoves, refrigerators, and microwaves. The building was constructed in 1920.
The unit configuration and long-term occupancy mentioned in the remarks may support an owner-occupant or portfolio approach. The property is offered “sold as is.”
Key Highlights
- Duplex at 1435 Midland Avenue with public water service
- Hardwood flooring plus laminate and varied flooring materials
- Natural gas heating and gas water heater
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
$16,315
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
8.82%
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%
$326,300
$326.3K
Cap Rate 7%
$233,071
$233.1K
Cap Rate 9%
$181,278
$181.3K
Market Conditions
NOI Build-Up for 1,728 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
$31.7K $18.36/SF
− Vacancy
−$2.1K −$1.19/SF
EGI
$29.7K $17.17/SF
− OpEx
−$13.3K −$7.72/SF
NOI
$16.3K $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%
$326,300
Cap Rate 7%
$233,071
Cap Rate 9%
$181,278
Alternative Uses
Best Use
Multifamily LT 5
$262.7K
$229.8K – $306.4K
NOI $18,386 @ 7.0% cap · market cap 9.94%
Second Best
Apartment 5plus
$233.1K
$203.9K – $271.9K
NOI $16,315 @ 7.0% cap · market cap 8.82%
Theoretical Best
Office A
$300.3K
$262.8K – $350.4K
NOI $21,021 @ 7.0% cap · market cap 11.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
591
Businesses Nearby
Explore this area
Business Placement
Demographics for 13205, NY
18,834
Population
8,868
Households
2.1
Avg Household Size
40
Median Age
21%
College-Educated
83%
High-School Grad
3.6 sq mi
ZIP Area
5,232
Density / Sq Mi
$39,171
Median Household Income
$32,711
Median Earnings
$898
Median Rent
$96,300
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 - Duplex with hardwood flooring, natural gas heating, and public water service—built with aluminum siding.
Where is this duplex located?
The property is located at 1435 Midland Avenue Syracuse, NY.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: Duplex at 1435 Midland Avenue with public water service; Hardwood flooring plus laminate and varied flooring materials; Natural gas heating and gas water heater
