Building Details

Building Size 1,746 SF

Year Built 1865

Buildings 2

Listing Agency: L Wilson Realty

Listed By: Lynette A. Wilson · License #37WI0985141 Show Phone

Source: Griffith-realty

Added: Aug 10 Changed: Oct 8 Last Checked: Oct 11 at 11:48AM

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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 L Wilson Realty

Investment Insights

Based on property information with market context.

Built in 1865, this duplex includes a first-floor apartment with pine flooring in the living room, dining room, and bedrooms. The kitchen has updated cabinets, countertops, flooring, and appliances, while the bathroom includes a walk-in tub and the first floor offers laundry. The upper apartment provides two bedrooms, a living room, kitchen appliances, and a new washer and dryer.

Outdoor features include a large front porch, enclosed side porch, partially fenced backyard, and detached one-car garage. The main septic line from the basement to the street was professionally completed in 2014. Tops supermarket is located behind the backyard fence, with the grocery store approximately two minutes away on foot. Downtown Skaneateles Lake is approximately five minutes away and includes boutiques, restaurants, offices, salons, and other local businesses. The owner pays water, and showings require 48-hour notice.

Key Highlights

• Duplex with two separate apartments
• First‑floor kitchen renovated with new cabinets, countertops, flooring, and appliances
• Upper apartment includes two bedrooms and a new washer and dryer

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,578

Cap Rate

3.15%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$371,560 $371.6K

Cap Rate 7%

$265,400 $265.4K

Cap Rate 9%

$206,422 $206.4K

Market Conditions

NOI Build-Up for 1,746 SF

Gross rent

$28.3K $16.20/SF

− Vacancy

−$1.7K −$1.00/SF

EGI

$26.5K $15.20/SF

− OpEx

−$8.0K −$4.56/SF

NOI

$18.6K $10.64/SF

Area

Onondaga County, 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 Rate 5%

$371,560

Cap Rate 7%

$265,400

Cap Rate 9%

$206,422

Alternative Uses

Best Use

Multifamily LT 5

$265.4K

$232.2K – $309.6K (±1% cap)

NOI $18,578 @ 7.0% cap · market cap 3.15%

Second Best

Apartment 5plus

$235.5K

$206.1K – $274.8K (±1% cap)

NOI $16,485 @ 7.0% cap · market cap 2.79%

Theoretical Best

Office A

$303.4K

$265.5K – $354.0K (±1% cap)

NOI $21,240 @ 7.0% cap · market cap 3.60%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Dental Office Auto Repair Shop Auto Parts Store Kitchen & Bath Showroom Grocery & Convenience Store Building Supply

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

495

Businesses Nearby

Explore this area Business Placement

Demographics for 13152, NY

7,696

Population

4,044

Households

1.9

Avg Household Size

52

Median Age

55%

College-Educated

96%

High-School Grad

63.3 sq mi

ZIP Area

122

Density / Sq Mi

$102,727

Median Household Income

$54,688

Median Earnings

$990

Median Rent

$427,600

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Duplex - Two-apartment home with renovated kitchen, updated bath, porches, and a partially fenced backyard.

Where is this duplex located?

The property is located at 21 West Elizabeth Street Skaneateles, NY.

What is the asking price?

The asking price for this property is $589,900.

What are key features of this property?

This property features: Duplex with two separate apartments; First‑floor kitchen renovated with new cabinets, countertops, flooring, and appliances; Upper apartment includes two bedrooms and a new washer and dryer