Duplex with Hardwood
For Sale
$185,000
1435 Midland Avenue #37, Syracuse, NY 13205
Two occupied units feature fresh paint and recently replaced kitchen appliances.
Property Size1,728 SF
Days on Market123
Property Features for 1435 Midland Avenue #37
General Information
Standard status
Active
Size
1,728 SF
Property subtype
Multi-Family
Amenities
hardwood floors
new appliances
Building Details
Building Size
1,728 SF
Year Built
1920
Stories
2
Tenancy
Multi
Listing Agency:
Empire Realty Group
(315) 807-1751
Listed By:
Tonya Britton · License #10401333644
Source:
Stacyfaunce.kw
Added: May 1
Changed: Aug 29
Last Checked: Aug 30 at 1:22PM
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 Empire Realty Group
Investment Insights
Based on property information with market context.
Built in 1920, this duplex at 1435 Midland Avenue #37 includes hardwood flooring, fresh interior paint, and recently replaced stoves, refrigerators, and microwaves. Both units have long-term tenants, providing an established occupancy profile for a purchaser evaluating the property as a portfolio addition or potential owner-occupied residence.
The property is offered in its current condition, with the sale structured on an as-is basis. Its two-unit configuration and existing tenancy provide a straightforward residential income property format.
The property is offered in its current condition, with the sale structured on an as-is basis. Its two-unit configuration and existing tenancy provide a straightforward residential income property format.
Key Highlights
- Duplex configuration with both units occupied by long‑term tenants
- Hardwood floors throughout the property
- Recently painted interiors
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 - Two occupied units feature fresh paint and recently replaced kitchen appliances.
Where is this duplex located?
The property is located at 1435 Midland Avenue #37 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 configuration with both units occupied by long‑term tenants; Hardwood floors throughout the property; Recently painted interiors
