Furnished Duplex Near
For Sale
$483,000
709 Clarendon Street 11, Syracuse, NY 13210
Two-story duplex with 3- and 4-bedroom furnished units, tenant-paid gas and electric, plus onsite parking and garage.
Property Size2,744 SF
Days on Market84
Property Features for 709 Clarendon Street 11
General Information
Standard status
Active
Size
2,744 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,376
Building Details
Building Size
2,744 SF
Year Built
1920
Stories
1
Tenancy
Multi
Listing Agency:
Acropolis Realty Group LLC
(315) 396-0493
Listed By:
Andrea Bucci · License #40BU0998964
(315) 396-0493
Source:
Griffith-realty
Added: Jun 2
Changed: Aug 23
Last Checked: Aug 23 at 11:01AM
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 Acropolis Realty Group LLC
Investment Insights
Based on property information with market context.
This is a two-story duplex-style income property with seven total bedrooms, featuring a 3-bedroom unit on the first floor and a 4-bedroom unit upstairs. Both units are fully furnished, including large flat screen TVs in the living room, along with living room, dining room, and bedroom furniture. The units include ceiling lights in every room and a front porch. A free washer/dryer is provided, and tenants pay gas and electric. Onsite parking is available, plus there is a 2-car garage.
Located on Clarendon Street in Syracuse, the property is described as within walking distance to campus. Mobility scores provided for the area include a Walk Score of 69 (somewhat walkable), a Bike Score of 52 (bikeable), and a Transit Score of 42.
The layout supports group living, with separate bedroom counts for each unit: 709 is the 4-bedroom configuration and 711 is the 3-bedroom configuration. Reported rents are $625 per person per month for the 4-bedroom unit and $600 per person per month for the 3-bedroom unit. A one-time yearly CAM fee of $2,100 is also noted, making this a straightforward option for buyers seeking a furnished, tenant-pay utilities setup with dedicated on-site parking.
Located on Clarendon Street in Syracuse, the property is described as within walking distance to campus. Mobility scores provided for the area include a Walk Score of 69 (somewhat walkable), a Bike Score of 52 (bikeable), and a Transit Score of 42.
The layout supports group living, with separate bedroom counts for each unit: 709 is the 4-bedroom configuration and 711 is the 3-bedroom configuration. Reported rents are $625 per person per month for the 4-bedroom unit and $600 per person per month for the 3-bedroom unit. A one-time yearly CAM fee of $2,100 is also noted, making this a straightforward option for buyers seeking a furnished, tenant-pay utilities setup with dedicated on-site parking.
Key Highlights
- Two‑story duplex built in 1920 with two furnished units: one 4‑bedroom and one 3‑bedroom
- Unit mix: 3 bedrooms on the first floor and 4 bedrooms upstairs
- Both units are fully furnished, including large flat screen TVs and ceiling lights in every room
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
$29,197
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
6.04%
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%
$583,940
$583.9K
Cap Rate 7%
$417,100
$417.1K
Cap Rate 9%
$324,411
$324.4K
Market Conditions
NOI Build-Up for 2,744 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
$44.5K $16.20/SF
− Vacancy
−$2.7K −$1.00/SF
EGI
$41.7K $15.20/SF
− OpEx
−$12.5K −$4.56/SF
NOI
$29.2K $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%
$583,940
Cap Rate 7%
$417,100
Cap Rate 9%
$324,411
Alternative Uses
Best Use
Multifamily LT 5
$417.1K
$365.0K – $486.6K
NOI $29,197 @ 7.0% cap · market cap 6.04%
Second Best
Apartment 5plus
$370.1K
$323.9K – $431.8K
NOI $25,908 @ 7.0% cap · market cap 5.36%
Theoretical Best
Office A
$476.9K
$417.3K – $556.4K
NOI $33,381 @ 7.0% cap · market cap 6.91%
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
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?
Duplex - Two-story duplex with 3- and 4-bedroom furnished units, tenant-paid gas and electric, plus onsite parking and garage.
Where is this duplex located?
The property is located at 709 Clarendon Street 11 Syracuse, NY.
What is the asking price?
The asking price for this property is $483,000.
What are key features of this property?
This property features: Two‑story duplex built in 1920 with two furnished units: one 4‑bedroom and one 3‑bedroom; Unit mix: 3 bedrooms on the first floor and 4 bedrooms upstairs; Both units are fully furnished, including large flat screen TVs and ceiling lights in every room
