Tenant-Occupied Duplex with
For Sale
$179,900
Pending
308 NELSON AVE, East Syracuse, NY 13057
Separate structures provide one- and two-bedroom layouts with current tenant occupancy.
Property Size1,392 SF
Days on Market266
Property Features for 308 NELSON AVE
General Information
Standard status
Pending
Size
1,392 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
1 x 1BR, 1 x 2BR
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$5,569
Amenities
Gas, Wall Air Conditioning
Full
3
Vinyl
Internet Connection, Cable Available
Shingle
Full, Partial
Deck
Deck. Fenced Yard.
Wood
Rectangular
40X120
Trash Collection. City Road, Rectangular.
Building Details
Year Built
1935
Tenancy
Multi
Listing Agency:
Coldwell Banker Prime Prop,Inc
(315) 372-9857
Listed By:
Lauren DeGilormo
(315) 372-9857
Source:
Xome
Added: Dec 8, 2025
Changed: Aug 31
Last Checked: Aug 31 at 3:40AM
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 Coldwell Banker Prime Prop,Inc
Investment Insights
Based on property information with market context.
This 1,392-square-foot duplex contains two separate residential units. The front unit features one bedroom and an upstairs living-area layout, while the rear unit provides two bedrooms. Both units are currently tenant occupied. Interior features include full bathrooms, vinyl finishes, gas service, wall air conditioning, internet connection, and cable availability.
The property includes deck space, a fenced yard, wood exterior elements, and a rectangular 40X120 lot. Built in 1935, it is served by a city road with trash collection. The property is within the East Syracuse Minoa School District and is near shopping, dining, and major highways.
The property includes deck space, a fenced yard, wood exterior elements, and a rectangular 40X120 lot. Built in 1935, it is served by a city road with trash collection. The property is within the East Syracuse Minoa School District and is near shopping, dining, and major highways.
Key Highlights
- Two‑unit duplex with 1,392 square feet of total property size
- Front unit has 1 bedroom with an upstairs living‑area layout
- Rear unit includes 2 bedrooms
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
$14,811
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
8.23%
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%
$296,220
$296.2K
Cap Rate 7%
$211,586
$211.6K
Cap Rate 9%
$164,567
$164.6K
Market Conditions
NOI Build-Up for 1,392 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
$22.6K $16.20/SF
− Vacancy
−$1.4K −$1.00/SF
EGI
$21.2K $15.20/SF
− OpEx
−$6.3K −$4.56/SF
NOI
$14.8K $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 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%
$296,220
Cap Rate 7%
$211,586
Cap Rate 9%
$164,567
Alternative Uses
Best Use
Multifamily LT 5
$211.6K
$185.1K – $246.9K
NOI $14,811 @ 7.0% cap · market cap 8.23%
Second Best
Apartment 5plus
$187.8K
$164.3K – $219.1K
NOI $13,143 @ 7.0% cap · market cap 7.31%
Theoretical Best
Office A
$241.9K
$211.7K – $282.2K
NOI $16,934 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
521
Businesses Nearby
Explore this area
Business Placement
Demographics for 13057, NY
14,676
Population
6,744
Households
2.2
Avg Household Size
46
Median Age
31%
College-Educated
93%
High-School Grad
27.7 sq mi
ZIP Area
530
Density / Sq Mi
$77,908
Median Household Income
$47,531
Median Earnings
$990
Median Rent
$159,800
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 - Separate structures provide one- and two-bedroom layouts with current tenant occupancy.
Where is this duplex located?
The property is located at 308 NELSON AVE East Syracuse, NY.
What is the asking price?
The asking price for this property is $179,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,392 square feet of total property size; Front unit has 1 bedroom with an upstairs living‑area layout; Rear unit includes 2 bedrooms
