Duplex with Separate
For Sale
$625,000
605 Carbon Street, Syracuse, NY 13208
Duplex with separate utilities, two-bedroom right unit and one-bedroom rear unit, plus relatively new furnaces and hot water heaters.
Property Size1,706 SF
Price / SF$366.35
Days on Market208
Property Features for 605 Carbon Street
General Information
Standard status
Active
Size
1,706 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,042
Amenities
Gas
Full
3
Hardwood, Ceramic Tile
Asphalt, Shingle
Block
Fenced Yard.
1 Garage Spaces. Paved Driveway.
Wood, Concrete
Irregular
50X100
City Road, Irregular.
Building Details
Year Built
1910
Tenancy
Multi
Listing Agency:
Coldwell Banker Prime Prop,Inc
(315) 446-2910
Listed By:
Susan Li · License #30LI0956504
(315) 446-2910
Source:
Xome
Added: Jan 26
Changed: Aug 12
Last Checked: Aug 21 at 4:29AM
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 duplex is offered as part of a four-property portfolio sale that includes 605 Carbon St., 612 Kirkpatrick St., 2409 Lodi St., and 2422 Lodi St., with combined rent rolls cited at $8,050 per month. The property includes a two-bedroom right unit and a one-bedroom rear unit.
The units have separate utilities and the tenants pay their own. Both furnaces and hot water heaters are described as fairly new, with an age of less than six years.
The rear unit is noted as having long-term tenants. The offering remarks also reference over 11% cash on cash return.
The units have separate utilities and the tenants pay their own. Both furnaces and hot water heaters are described as fairly new, with an age of less than six years.
The rear unit is noted as having long-term tenants. The offering remarks also reference over 11% cash on cash return.
Key Highlights
- Duplex layout with a 2‑bedroom right unit and a 1‑bedroom rear unit
- Separate utilities: tenants pay their own; both furnaces and hot water heaters are under 6 years old
- Part of a 4‑property portfolio to be sold with 605 Carbon St, 612 Kirkpatrick St, 2409 Lodi St, and 2422 Lodi St ($8,050/month rent rolls)
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
$18,152
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
2.90%
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%
$363,040
$363.0K
Cap Rate 7%
$259,314
$259.3K
Cap Rate 9%
$201,689
$201.7K
Market Conditions
NOI Build-Up for 1,706 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
$27.6K $16.20/SF
− Vacancy
−$1.7K −$1.00/SF
EGI
$25.9K $15.20/SF
− OpEx
−$7.8K −$4.56/SF
NOI
$18.2K $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%
$363,040
Cap Rate 7%
$259,314
Cap Rate 9%
$201,689
Alternative Uses
Best Use
Multifamily LT 5
$259.3K
$226.9K – $302.5K
NOI $18,152 @ 7.0% cap · market cap 2.90%
Second Best
Apartment 5plus
$230.1K
$201.3K – $268.5K
NOI $16,107 @ 7.0% cap · market cap 2.58%
Theoretical Best
Office A
$296.5K
$259.4K – $345.9K
NOI $20,754 @ 7.0% cap · market cap 3.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,040
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 - Duplex with separate utilities, two-bedroom right unit and one-bedroom rear unit, plus relatively new furnaces and hot water heaters.
Where is this duplex located?
The property is located at 605 Carbon Street Syracuse, NY.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Duplex layout with a 2‑bedroom right unit and a 1‑bedroom rear unit; Separate utilities: tenants pay their own; both furnaces and hot water heaters are under 6 years old; Part of a 4‑property portfolio to be sold with 605 Carbon St, 612 Kirkpatrick St, 2409 Lodi St, and 2422 Lodi St ($8,050/month rent rolls)
