Seven-Bedroom
For Sale
$499,000
560 Clarendon Street #64, Syracuse, NY 13210
Three residential units span three full stories and include seven bedrooms and three full bathrooms.
Property Size2,990 SF
Days on Market101
Property Features for 560 Clarendon Street #64
General Information
Standard status
Active
Size
2,990 SF
Property subtype
Multi Family Home
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$9,463
Building Details
Building Size
2,990 SF
Year Built
1910
Stories
2
Units
3
Listing Agency:
University Hill Realty Ltd
(315) 460-0024
Listed By:
Daniel Murphy
(315) 460-0024
Source:
Wcirealty
Added: May 4
Changed: Aug 7
Last Checked: Aug 12 at 1:22PM
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 University Hill Realty Ltd
Investment Insights
Based on property information with market context.
This triplex contains three residential units arranged across three full stories, with seven bedrooms and three full bathrooms. Built in 1910, the property is described as well maintained and income producing, providing a three-family configuration for an owner seeking residential rental space.
The property is situated in Syracuse’s University Hill neighborhood, within reach of Syracuse University, SUNY Upstate Medical University, Crouse Hospital, and the VA Medical Center. The Westcott Street corridor, with restaurants, coffee shops, and neighborhood retail, is also nearby.
The property is situated in Syracuse’s University Hill neighborhood, within reach of Syracuse University, SUNY Upstate Medical University, Crouse Hospital, and the VA Medical Center. The Westcott Street corridor, with restaurants, coffee shops, and neighborhood retail, is also nearby.
Key Highlights
- Three‑family property with seven bedrooms and three full bathrooms
- Three full stories of residential space
- Built in 1910
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
$31,815
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
6.38%
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%
$636,300
$636.3K
Cap Rate 7%
$454,500
$454.5K
Cap Rate 9%
$353,500
$353.5K
Market Conditions
NOI Build-Up for 2,990 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
$48.4K $16.20/SF
− Vacancy
−$3.0K −$1.00/SF
EGI
$45.4K $15.20/SF
− OpEx
−$13.6K −$4.56/SF
NOI
$31.8K $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%
$636,300
Cap Rate 7%
$454,500
Cap Rate 9%
$353,500
Alternative Uses
Best Use
Multifamily LT 5
$454.5K
$397.7K – $530.3K
NOI $31,815 @ 7.0% cap · market cap 6.38%
Second Best
Apartment 5plus
$403.3K
$352.9K – $470.5K
NOI $28,230 @ 7.0% cap · market cap 5.66%
Theoretical Best
Office A
$519.6K
$454.7K – $606.2K
NOI $36,374 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
611
Businesses Nearby
Explore this area
Business Placement
Demographics for 13210, NY
23,150
Population
9,774
Households
2.4
Avg Household Size
27
Median Age
50%
College-Educated
92%
High-School Grad
3.8 sq mi
ZIP Area
6,092
Density / Sq Mi
$38,783
Median Household Income
$20,554
Median Earnings
$1,081
Median Rent
$167,200
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?
Triplex - Three residential units span three full stories and include seven bedrooms and three full bathrooms.
Where is this triplex located?
The property is located at 560 Clarendon Street #64 Syracuse, NY.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Three‑family property with seven bedrooms and three full bathrooms; Three full stories of residential space; Built in 1910
