Renovated Two-Family
New
For Sale
$595,000
613 Clarendon Street, Syracuse, NY 13210
Furnished duplex with modern interiors, separate utilities, private laundry, and rear parking.
Property Size2,584 SF
Days on Market3
Property Features for 613 Clarendon Street
General Information
Standard status
Active
Size
2,584 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 4BR/2BA
Multifamily Units
2
Additional Details
Furnished
Yes
Amenities
private laundry facilities
private parking lot
Building Details
Building Size
2,584 SF
Year Built
1920
Year Renovated
2026
Stories
2
Listing Agency:
InFisium Properties LLC
Listed By:
Michael Hemmer · License #10491208620
(315) 299-3423
Source:
Stacyfaunce.kw
Added: Sep 15
Changed: Sep 16
Last Checked: Sep 16 at 2:44PM
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 InFisium Properties LLC
Investment Insights
Based on property information with market context.
This duplex, built in 1920 and renovated in 2026, contains two apartments with four bedrooms and two full bathrooms per unit. Both residences include eat-in kitchens, GE stainless steel appliances, granite countertops, tile backsplashes, wood flooring, and updated bathrooms. Electrical, HVAC, and plumbing systems were replaced during the renovation, and the property is offered furnished.
Each apartment has separate utilities and individual meters. Basement laundry facilities are private and smartphone-enabled, while the property also provides a large private rear parking lot. The building is located steps from Syracuse University, with the upper apartment occupied and the lower apartment available for occupancy.
Each apartment has separate utilities and individual meters. Basement laundry facilities are private and smartphone-enabled, while the property also provides a large private rear parking lot. The building is located steps from Syracuse University, with the upper apartment occupied and the lower apartment available for occupancy.
Key Highlights
- Two apartments with 4 bedrooms and 2 full bathrooms each
- Renovated in 2026; original building dates to 1920
- Furnished property with GE stainless steel appliances and granite countertops
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
$27,495
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
4.62%
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%
$549,900
$549.9K
Cap Rate 7%
$392,786
$392.8K
Cap Rate 9%
$305,500
$305.5K
Market Conditions
NOI Build-Up for 2,584 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
$41.9K $16.20/SF
− Vacancy
−$2.6K −$1.00/SF
EGI
$39.3K $15.20/SF
− OpEx
−$11.8K −$4.56/SF
NOI
$27.5K $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%
$549,900
Cap Rate 7%
$392,786
Cap Rate 9%
$305,500
Alternative Uses
Best Use
Multifamily LT 5
$392.8K
$343.7K – $458.3K
NOI $27,495 @ 7.0% cap · market cap 4.62%
Second Best
Apartment 5plus
$348.5K
$305.0K – $406.6K
NOI $24,397 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$449.1K
$392.9K – $523.9K
NOI $31,435 @ 7.0% cap · market cap 5.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Furnished duplex with modern interiors, separate utilities, private laundry, and rear parking.
Where is this duplex located?
The property is located at 613 Clarendon Street Syracuse, NY.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Two apartments with 4 bedrooms and 2 full bathrooms each; Renovated in 2026; original building dates to 1920; Furnished property with GE stainless steel appliances and granite countertops
