Updated Two-Unit
New
For Sale
$209,900
433 Vann Street, Syracuse, NY 13206
Residential, Syracuse, NY
Property Size1,920 SF
Lot Size0.20 Acres
Price / SF$109.32
Days on Market1
Property Features for 433 Vann Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Basement, Bathroom 2
Parking features
Garage
Patio and Porch features
Porch
Interior features
CeilingFans
Exterior features
EnclosedPorch, Porch
Appliances
GasWaterHeater
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Syracuse
Middle school district
Syracuse
High school district
Syracuse
Directions
Turn onto Dillaye from Burnet Ave, then turn right onto Vann St. Home will be on the left
Subdivision
Syracuse City-311500
Standard status
Active
APN
311500-028-000-0007-029-000-0000
Size
1,920 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Annual Amount
3275
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
enclosed sun porches
laundry units in basement
paver patio
Building Details
Year built
1923
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Tile, Vinyl, Varies
Building materials
Brick
Roof type
Shingle
Architectural style
Other
Listing Agency:
Candy Costa Real Estate LLC
(315) 505-6609
Listed By:
Christina Dischiave · License #10401345577
(315) 505-6609
Added: Aug 20
Last Checked: Aug 20 at 9:06AM
MLS# S1708613
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 1,920-square-foot brick duplex, built in 1923, contains two matching two-bedroom units with spacious rooms, original hardwood floors and trim, and enclosed sun porches. Each unit has its own laundry area in the dry basement. Major improvements include replacement of the roof, mechanical systems, plumbing, electrical components, and bathrooms. Forced-air natural gas heating, a gas water heater, and public water serve the property.
The property occupies a 0.2-acre double lot with an extended driveway, large two-bay garage, grassy yard, and paver patio. A fence separates the rear of the lot from the adjacent golf course. The home is located on a quiet dead-end street with access to I-690 and downtown Syracuse.
The property occupies a 0.2-acre double lot with an extended driveway, large two-bay garage, grassy yard, and paver patio. A fence separates the rear of the lot from the adjacent golf course. The home is located on a quiet dead-end street with access to I-690 and downtown Syracuse.
Key Highlights
- Two matching 2‑bedroom units within a 1,920‑square‑foot duplex
- Major updates include roof, mechanicals, plumbing, electrical, and bathrooms
- Each unit has private laundry in the dry basement
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
$18,128
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
8.64%
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%
$362,560
$362.6K
Cap Rate 7%
$258,971
$259.0K
Cap Rate 9%
$201,422
$201.4K
Market Conditions
NOI Build-Up for 1,920 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
$35.3K $18.36/SF
− Vacancy
−$2.3K −$1.19/SF
EGI
$33.0K $17.17/SF
− OpEx
−$14.8K −$7.72/SF
NOI
$18.1K $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%
$362,560
Cap Rate 7%
$258,971
Cap Rate 9%
$201,422
Alternative Uses
Best Use
Multifamily LT 5
$291.8K
$255.4K – $340.5K
NOI $20,429 @ 7.0% cap · market cap 9.73%
Second Best
Apartment 5plus
$259.0K
$226.6K – $302.1K
NOI $18,128 @ 7.0% cap · market cap 8.64%
Theoretical Best
Office A
$333.7K
$292.0K – $389.3K
NOI $23,357 @ 7.0% cap · market cap 11.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
560
Businesses Nearby
Explore this area
Business Placement
Demographics for 13206, NY
16,599
Population
8,460
Households
2
Avg Household Size
38
Median Age
27%
College-Educated
90%
High-School Grad
4.1 sq mi
ZIP Area
4,049
Density / Sq Mi
$60,314
Median Household Income
$40,429
Median Earnings
$952
Median Rent
$130,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Brick income property with two matching two-bedroom units, private laundry, enclosed porches, and a two-bay garage.
Where is this duplex located?
The property is located at 433 Vann Street Syracuse, NY.
What is the asking price?
The asking price for this property is $209,900.
What are key features of this property?
This property features: Two matching 2‑bedroom units within a 1,920‑square‑foot duplex; Major updates include roof, mechanicals, plumbing, electrical, and bathrooms; Each unit has private laundry in the dry basement
