Fully Furnished
For Sale
$299,900
216 Westcott Street, Syracuse, NY 13210
Vacant two-unit property with furnished interiors and flexible occupancy options.
Property Size2,821 SF
Days on Market58
Property Features for 216 Westcott Street
General Information
Standard status
Active
Size
2,821 SF
Property subtype
Multi Family Home
Units
Unit Mix
1 x 5BR/1.5BA, 1 x 6BR/1.5BA
Multifamily Units
2
Additional Details
Furnished
Yes
Taxes and HOA fees
Annual Taxes
$3,387
Building Details
Building Size
2,821 SF
Year Built
1900
Buildings
1
Stories
2
Units
2
Listing Agency:
Hunt Real Estate ERA
(315) 446-4681
Listed By:
Dante Belmonte · License #10401323828
(315) 446-4681
Source:
Wcirealty
Added: Jun 17
Changed: Aug 11
Last Checked: Aug 12 at 12:57PM
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 Hunt Real Estate ERA
Investment Insights
Based on property information with market context.
Located on Westcott Street in Syracuse's Syracuse University neighborhood, this duplex was built in 1900 and has undergone a complete renovation. The property contains two residential units, with Unit 1 offering five bedrooms and 1 and a half bathrooms and Unit 2 providing six bedrooms and 1 and a half baths.
The building is fully vacant, allowing an owner to occupy it or choose future tenants. Both units are furnished, and the furnishings will convey with the sale. The property is ready for occupancy following the renovation and offers a two-unit configuration suited to residential income use.
The building is fully vacant, allowing an owner to occupy it or choose future tenants. Both units are furnished, and the furnishings will convey with the sale. The property is ready for occupancy following the renovation and offers a two-unit configuration suited to residential income use.
Key Highlights
- Fully renovated duplex with two residential units
- Unit 1 includes 5 bedrooms and 1 and a half bathrooms
- Unit 2 includes 6 bedrooms and 1 and a half baths
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
$26,635
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
8.88%
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%
$532,700
$532.7K
Cap Rate 7%
$380,500
$380.5K
Cap Rate 9%
$295,944
$295.9K
Market Conditions
NOI Build-Up for 2,821 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
$51.8K $18.36/SF
− Vacancy
−$3.4K −$1.19/SF
EGI
$48.4K $17.17/SF
− OpEx
−$21.8K −$7.72/SF
NOI
$26.6K $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%
$532,700
Cap Rate 7%
$380,500
Cap Rate 9%
$295,944
Alternative Uses
Best Use
Multifamily LT 5
$428.8K
$375.2K – $500.3K
NOI $30,016 @ 7.0% cap · market cap 10.01%
Second Best
Apartment 5plus
$380.5K
$332.9K – $443.9K
NOI $26,635 @ 7.0% cap · market cap 8.88%
Theoretical Best
Office A
$490.3K
$429.0K – $572.0K
NOI $34,318 @ 7.0% cap · market cap 11.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
991
Businesses Nearby
Explore this area
Business Placement
Demographics for 13210, NY
23,150
Population
9,774
Households
2.4
Avg Household Size
27
Median Age
50%
College-Educated
92%
High-School Grad
3.8 sq mi
ZIP Area
6,092
Density / Sq Mi
$38,783
Median Household Income
$20,554
Median Earnings
$1,081
Median Rent
$167,200
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 - Vacant two-unit property with furnished interiors and flexible occupancy options.
Where is this duplex located?
The property is located at 216 Westcott Street Syracuse, NY.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Fully renovated duplex with two residential units; Unit 1 includes 5 bedrooms and 1 and a half bathrooms; Unit 2 includes 6 bedrooms and 1 and a half baths
