Updated Tenant-Occupied
For Sale
$184,900
171 Briggs Street, Syracuse, NY 13208
Residential, Syracuse, NY
Property Size1,596 SF
Lot Size0.10 Acres
Price / SF$115.85
Days on Market42
Property Features for 171 Briggs Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential 2 Unit
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Bedroom 4, Bedroom 1, Basement, Bedroom 2, Bedroom 3
Parking features
On Street
Interior features
CeilingFans
Appliances
GasWaterHeater
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Syracuse
Middle school district
Syracuse
High school district
Syracuse
Directions
Exit 26 for US RT 11 towards Mattydale, Merge onto US 11/ Brewerton Rd, Keep Left to continue on Lemoyne Ave, Turn left on Wadsworth St. Turn right onto Briggs Street.
Subdivision
Syracuse City-311500
Standard status
Active
APN
311500-011-000-0001-024-000-0000
Size
1,596 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
2273
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Vinyl
Building materials
AluminumSiding, VinylSiding
Roof type
Shingle, Asphalt
Listing Agency:
Candy Costa Real Estate LLC
(315) 505-6609
Listed By:
Candy Costa · License #10491209117
(315) 447-0668
Added: Aug 22
Changed: Sep 18
Last Checked: Oct 2 at 1:06AM
MLS# S1707544
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 tenant-occupied duplex was built in 1900 and contains 1,596 square feet on a 0.10-acre lot. Interior updates include paint, flooring, kitchen cabinetry, countertops, and appliances. Vinyl flooring, ceiling fans, and an asphalt shingle roof are also noted. The property has aluminum and vinyl siding and includes basement space.
Public water and sewer serve the property. Heating is provided by a natural-gas forced-air system, with a gas water heater. Parking is available on the street. The existing tenancy and recent interior improvements provide a defined residential income profile for an owner evaluating the asset.
Public water and sewer serve the property. Heating is provided by a natural-gas forced-air system, with a gas water heater. Parking is available on the street. The existing tenancy and recent interior improvements provide a defined residential income profile for an owner evaluating the asset.
Key Highlights
- Tenant‑occupied duplex with 1,596 square feet of property size
- 0.10‑acre lot
- Updated paint, flooring, kitchen cabinets, countertops, and appliances
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
$16,982
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
9.18%
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%
$339,640
$339.6K
Cap Rate 7%
$242,600
$242.6K
Cap Rate 9%
$188,689
$188.7K
Market Conditions
NOI Build-Up for 1,596 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
$25.9K $16.20/SF
− Vacancy
−$1.6K −$1.00/SF
EGI
$24.3K $15.20/SF
− OpEx
−$7.3K −$4.56/SF
NOI
$17.0K $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%
$339,640
Cap Rate 7%
$242,600
Cap Rate 9%
$188,689
Alternative Uses
Best Use
Multifamily LT 5
$242.6K
$212.3K – $283.0K
NOI $16,982 @ 7.0% cap · market cap 9.18%
Second Best
Apartment 5plus
$215.3K
$188.4K – $251.2K
NOI $15,069 @ 7.0% cap · market cap 8.15%
Theoretical Best
Office A
$277.4K
$242.7K – $323.6K
NOI $19,416 @ 7.0% cap · market cap 10.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
458
Businesses Nearby
Explore this area
Business Placement
Demographics for 13208, NY
23,603
Population
10,325
Households
2.3
Avg Household Size
33
Median Age
19%
College-Educated
77%
High-School Grad
4.1 sq mi
ZIP Area
5,757
Density / Sq Mi
$40,641
Median Household Income
$35,015
Median Earnings
$999
Median Rent
$110,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Tenant-occupied duplex with refreshed interiors, public utilities, and natural-gas forced-air heating.
Where is this duplex located?
The property is located at 171 Briggs Street Syracuse, NY.
What is the asking price?
The asking price for this property is $184,900.
What are key features of this property?
This property features: Tenant‑occupied duplex with 1,596 square feet of property size; 0.10‑acre lot; Updated paint, flooring, kitchen cabinets, countertops, and appliances
