Two-Unit Duplex with Detached
New
For Sale
$239,500
146-148 Ashdale Ave, Syracuse, NY 13206
Each residence has two bedrooms, a full bath, and private laundry, with a detached two-car garage serving the property.
Property Size1,724 SF
Days on Market3
Property Features for 146-148 Ashdale Ave
General Information
Standard status
Active
Size
1,724 SF
Total Parking Spaces
2
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$4,035
Amenities
in-unit laundry
Building Details
Building Size
1,724 SF
Year Built
1890
Buildings
1
Stories
2
Units
2
Listing Agency:
Acropolis Realty Group
Listed By:
Jeremy Allen · License #10401329024
(315) 396-0493
Source:
Elliman
Added: Sep 24
Last Checked: Sep 24 at 3:12PM
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 Acropolis Realty Group
Investment Insights
Based on property information with market context.
This duplex contains two vacant residences, each arranged with two bedrooms, one full bathroom, and its own laundry. The property also includes a detached two-car garage with additional storage space. Built in 1890, the building is ready for occupancy without immediate updates identified in the property information.
The property is in Eastwood, with shops, restaurants, and everyday amenities along James Street nearby. Syracuse University and area hospitals are also in the surrounding area. Walk Score is 63, Bike Score is 33, and Transit Score is 37.
The property is in Eastwood, with shops, restaurants, and everyday amenities along James Street nearby. Syracuse University and area hospitals are also in the surrounding area. Walk Score is 63, Bike Score is 33, and Transit Score is 37.
Key Highlights
- Two residences, each with 2 bedrooms and 1 full bathroom
- In‑unit laundry in both residences
- Detached two‑car garage with additional storage
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
$18,344
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
7.66%
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%
$366,880
$366.9K
Cap Rate 7%
$262,057
$262.1K
Cap Rate 9%
$203,822
$203.8K
Market Conditions
NOI Build-Up for 1,724 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
$27.9K $16.20/SF
− Vacancy
−$1.7K −$1.00/SF
EGI
$26.2K $15.20/SF
− OpEx
−$7.9K −$4.56/SF
NOI
$18.3K $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%
$366,880
Cap Rate 7%
$262,057
Cap Rate 9%
$203,822
Alternative Uses
Best Use
Multifamily LT 5
$262.1K
$229.3K – $305.7K
NOI $18,344 @ 7.0% cap · market cap 7.66%
Second Best
Apartment 5plus
$232.5K
$203.5K – $271.3K
NOI $16,277 @ 7.0% cap · market cap 6.80%
Theoretical Best
Office A
$299.6K
$262.2K – $349.6K
NOI $20,973 @ 7.0% cap · market cap 8.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
799
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 - Each residence has two bedrooms, a full bath, and private laundry, with a detached two-car garage serving the property.
Where is this duplex located?
The property is located at 146-148 Ashdale Ave Syracuse, NY.
What is the asking price?
The asking price for this property is $239,500.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1 full bathroom; In‑unit laundry in both residences; Detached two‑car garage with additional storage
