Two-Unit Duplex with Detached
New
For Sale
$180,000
310 Willumae Dr, Syracuse, NY 13208
Separate residences create flexible living arrangements with potential for rental income.
Property Size1,751 SF
Price / SF$102.80
Days on Market4
Property Features for 310 Willumae Dr
General Information
Standard status
Active
Size
1,751 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,361
Building Details
Building Size
1,751 SF
Year Built
1940
Stories
2
Units
2
Listing Agency:
Berkshire Hathaway HomeServices CNY Realty
(315) 283-4250
Listed By:
Cheryl St. Fleur · License #10301224790
(315) 283-4250
Source:
Elliman
Added: Aug 17
Changed: Aug 18
Last Checked: Aug 19 at 11:35AM
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 Berkshire Hathaway HomeServices CNY Realty
Investment Insights
Based on property information with market context.
Located at 310 Willumae Dr in Syracuse, this 1940 duplex contains approximately 1,751 square feet arranged as two separate residential units. The first-floor residence includes two bedrooms, one full bathroom, and a spacious living area. The upper unit provides one bedroom and one full bathroom, giving the property a total of three bedrooms and two full bathrooms.
A detached garage adds parking and storage capacity. The property is near shopping, dining, transportation, and major roadways, with a walk score of 86, a transit score of 52, and a bike score of 42. The two-unit configuration supports distinct household spaces within a single building and may suit an owner-occupant or investor.
A detached garage adds parking and storage capacity. The property is near shopping, dining, transportation, and major roadways, with a walk score of 86, a transit score of 52, and a bike score of 42. The two-unit configuration supports distinct household spaces within a single building and may suit an owner-occupant or investor.
Key Highlights
- Approximately 1,751 square feet with two separate residential units
- Three total bedrooms and two full bathrooms
- First‑floor unit includes two bedrooms, one full bath, and a generously sized living area
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
$16,532
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%
$330,640
$330.6K
Cap Rate 7%
$236,171
$236.2K
Cap Rate 9%
$183,689
$183.7K
Market Conditions
NOI Build-Up for 1,751 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
$32.1K $18.36/SF
− Vacancy
−$2.1K −$1.19/SF
EGI
$30.1K $17.17/SF
− OpEx
−$13.5K −$7.72/SF
NOI
$16.5K $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%
$330,640
Cap Rate 7%
$236,171
Cap Rate 9%
$183,689
Alternative Uses
Best Use
Multifamily LT 5
$266.2K
$232.9K – $310.5K
NOI $18,631 @ 7.0% cap · market cap 10.35%
Second Best
Apartment 5plus
$236.2K
$206.7K – $275.5K
NOI $16,532 @ 7.0% cap · market cap 9.18%
Theoretical Best
Office A
$304.3K
$266.3K – $355.0K
NOI $21,301 @ 7.0% cap · market cap 11.83%
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
505
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
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 residences create flexible living arrangements with potential for rental income.
Where is this duplex located?
The property is located at 310 Willumae Dr Syracuse, NY.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: Approximately 1,751 square feet with two separate residential units; Three total bedrooms and two full bathrooms; First‑floor unit includes two bedrooms, one full bath, and a generously sized living area
