Duplex with Oversized
For Sale
$229,900
3018 Grant Boulevard, Syracuse, NY 13208
Residential, Syracuse, NY
Property Size1,740 SF
Lot Size0.14 Acres
Price / SF$132.13
Days on Market191
Property Features for 3018 Grant Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 4, Basement, Bedroom 1, Bathroom 1
Parking features
Garage
Patio and Porch features
Deck
Exterior features
Deck
Appliances
GasWaterHeater
Lot features
Irregular Lot, Near Public Transit
Elementary school district
Syracuse
Middle school district
Syracuse
High school district
Syracuse
Directions
Grant Blvd by Lemoyne.
Subdivision
Syracuse City-311500
Standard status
Active
APN
311500-003-000-0011-014-000-0000
Size
1,740 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
4954
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1890
Floors in Building
2
Number of units
2
Flooring type
Varies, Vinyl, Hardwood
Building materials
VinylSiding, WoodSiding, CopperPlumbing
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Keller Williams Syracuse · Keller Williams Realty
(315) 701-6900
Listed By:
Clayton Baker · License #30BA1017031
(315) 278-2832
Added: Mar 26
Changed: Oct 1
Last Checked: Oct 2 at 1:06AM
MLS# S1669436
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 1,740-square-foot duplex includes two residential units, an oversized garage, expanded off-street parking, and an adjacent lot that may support future expansion. The garage has sewer and water hookups, creating flexibility for storage use or other supported purposes. A deck adds outdoor space, while the property also features a basement, hardwood and vinyl flooring, forced-air heating, a gas water heater, public water, and asphalt roofing. The house and garage have new roofs.
Built in 1890, the property is located near Destiny, Mets Stadium, downtown Syracuse, hospitals, Syracuse University, and area highways. The residential layout includes four bedrooms and two bathrooms, with a mix of hardwood and vinyl flooring throughout.
Built in 1890, the property is located near Destiny, Mets Stadium, downtown Syracuse, hospitals, Syracuse University, and area highways. The residential layout includes four bedrooms and two bathrooms, with a mix of hardwood and vinyl flooring throughout.
Key Highlights
- 1,740‑square‑foot duplex with two residential units
- Oversized garage with sewer and water hookups
- Expanded off‑street parking plus an adjacent lot
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
$18,514
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
8.05%
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%
$370,280
$370.3K
Cap Rate 7%
$264,486
$264.5K
Cap Rate 9%
$205,711
$205.7K
Market Conditions
NOI Build-Up for 1,740 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
$28.2K $16.20/SF
− Vacancy
−$1.7K −$1.00/SF
EGI
$26.4K $15.20/SF
− OpEx
−$7.9K −$4.56/SF
NOI
$18.5K $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%
$370,280
Cap Rate 7%
$264,486
Cap Rate 9%
$205,711
Alternative Uses
Best Use
Multifamily LT 5
$264.5K
$231.4K – $308.6K
NOI $18,514 @ 7.0% cap · market cap 8.05%
Second Best
Apartment 5plus
$234.7K
$205.4K – $273.8K
NOI $16,428 @ 7.0% cap · market cap 7.15%
Theoretical Best
Office A
$302.4K
$264.6K – $352.8K
NOI $21,167 @ 7.0% cap · market cap 9.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
657
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
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family residence with expanded off-street parking and an adjacent lot for possible expansion.
Where is this duplex located?
The property is located at 3018 Grant Boulevard Syracuse, NY.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: 1,740‑square‑foot duplex with two residential units; Oversized garage with sewer and water hookups; Expanded off‑street parking plus an adjacent lot
