Duplex with Two Three-Bedroom
New
For Sale
$189,000
323 W Calthrop Avenue, Syracuse, NY 13205
Both apartments have updated mechanical systems and a documented rental history.
Property Size1,780 SF
Days on Market3
Property Features for 323 W Calthrop Avenue
General Information
Standard status
Active
Size
1,780 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR flat
Multifamily Units
2
Additional Details
Gross Income
$32,400
Tenant in Place
Yes
Building Details
Building Size
1,780 SF
Year Built
1900
Stories
2
Listing Agency:
Real Broker NY LLC
Listed By:
William Carroll · License #40CA0943190
(315) 430-9092
Source:
Stacyfaunce.kw
Added: Oct 29
Changed: Oct 30
Last Checked: Oct 30 at 10:46AM
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 Real Broker NY LLC
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Investment Insights
Based on property information with market context.
This 1900-built duplex contains two separate flats, each with three bedrooms. Mechanical systems have been updated, and the property has a rental history.
The dead-end street reaches McKinley Park, which has a swimming pool. The duplex may also be acquired as part of a five-property package.
The dead-end street reaches McKinley Park, which has a swimming pool. The duplex may also be acquired as part of a five-property package.
Key Highlights
- Two separate flats, each with three bedrooms
- Updated mechanical systems
- Built in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,806
Cap Rate
8.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$336,120
$336.1K
Cap Rate 7%
$240,086
$240.1K
Cap Rate 9%
$186,733
$186.7K
Market Conditions
NOI Build-Up for 1,780 SF
Gross rent
$32.7K $18.36/SF
− Vacancy
−$2.1K −$1.19/SF
EGI
$30.6K $17.17/SF
− OpEx
−$13.8K −$7.72/SF
NOI
$16.8K $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 Rate 5%
$336,120
Cap Rate 7%
$240,086
Cap Rate 9%
$186,733
Alternative Uses
Best Use
Multifamily LT 5
$270.6K
$236.8K – $315.7K
NOI $18,940 @ 7.0% cap · market cap 10.02%
Second Best
Apartment 5plus
$240.1K
$210.1K – $280.1K
NOI $16,806 @ 7.0% cap · market cap 8.89%
Theoretical Best
Office A
$309.3K
$270.7K – $360.9K
NOI $21,654 @ 7.0% cap · market cap 11.46%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
471
Businesses Nearby
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Business Placement
Demographics for 13205, NY
18,834
Population
8,868
Households
2.1
Avg Household Size
40
Median Age
21%
College-Educated
83%
High-School Grad
3.6 sq mi
ZIP Area
5,232
Density / Sq Mi
$39,171
Median Household Income
$32,711
Median Earnings
$898
Median Rent
$96,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both apartments have updated mechanical systems and a documented rental history.
Where is this duplex located?
The property is located at 323 W Calthrop Avenue Syracuse, NY.
What is the asking price?
The asking price for this property is $189,000.
What are key features of this property?
This property features: Two separate flats, each with three bedrooms; Updated mechanical systems; Built in 1900
