Student Housing
For Sale
Contact for pricing
717-19 Ackerman Avenue, Syracuse, NY 13210
Duplex offers two three-bedroom units with modern kitchens, on-premises laundry, and off-street parking near Syracuse University.
Property Size2,538 SF
Price / SF$171.79
Days on Market64
Property Features for 717-19 Ackerman Avenue
General Information
Standard status
Active
Size
2,538 SF
Class
B
Property subtype
Multifamily
Zoning
R2-Low Density Residential
Occupancy
100%
Investment Type
Stabilized
Additional Details
Multifamily Units
2
Building Details
Year Built
1920
Units
2
Tenancy
Multi
Listing Agency:
CBRE - Syracuse
(315) 422-4200
Listed By:
Mark Rupprecht · License #NY 30RU1016227
Source:
Crexi
Added: Jun 10
Changed: Aug 10
Last Checked: Aug 10 at 3:37AM
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 CBRE - Syracuse
Investment Insights
Based on property information with market context.
This duplex is configured with two separate three-bedroom units, each designed to support student living. Both sides feature modern kitchens and on-premises laundry, helping reduce shared-laundry dependency for residents. Off-street parking is also included, which can be a practical benefit for tenants and guests.
The property is positioned in an off-campus area near Syracuse University, with about five short blocks to campus and roughly three blocks to Westcott Street. That proximity can make day-to-day commuting more convenient for occupants who want to be close to campus and nearby retail and services.
For buyers seeking a student housing investment, the layout provides multiple bedrooms per unit and standalone in-unit laundry access. The off-street parking added to each side may help improve day-to-day usability compared with street-only options. The duplex structure also offers straightforward ownership of two residential units within a single asset.
The property is positioned in an off-campus area near Syracuse University, with about five short blocks to campus and roughly three blocks to Westcott Street. That proximity can make day-to-day commuting more convenient for occupants who want to be close to campus and nearby retail and services.
For buyers seeking a student housing investment, the layout provides multiple bedrooms per unit and standalone in-unit laundry access. The off-street parking added to each side may help improve day-to-day usability compared with street-only options. The duplex structure also offers straightforward ownership of two residential units within a single asset.
Key Highlights
- Duplex built in 1920 with two 3‑bedroom units
- Each unit features a modern kitchen
- On‑premises laundry available
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
$27,005
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
6.19%
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%
$540,100
$540.1K
Cap Rate 7%
$385,786
$385.8K
Cap Rate 9%
$300,056
$300.1K
Market Conditions
NOI Build-Up for 2,538 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
$41.1K $16.20/SF
− Vacancy
−$2.5K −$1.00/SF
EGI
$38.6K $15.20/SF
− OpEx
−$11.6K −$4.56/SF
NOI
$27.0K $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%
$540,100
Cap Rate 7%
$385,786
Cap Rate 9%
$300,056
Alternative Uses
Best Use
Multifamily LT 5
$385.8K
$337.6K – $450.1K
NOI $27,005 @ 7.0% cap · market cap 6.19%
Second Best
Apartment 5plus
$342.3K
$299.5K – $399.4K
NOI $23,963 @ 7.0% cap · market cap 5.50%
Theoretical Best
Office A
$441.1K
$385.9K – $514.6K
NOI $30,875 @ 7.0% cap · market cap 7.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
883
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 - Duplex offers two three-bedroom units with modern kitchens, on-premises laundry, and off-street parking near Syracuse University.
Where is this duplex located?
The property is located at 717-19 Ackerman Avenue Syracuse, NY.
What is the asking price?
The asking price for this property is $436,000.
What are key features of this property?
This property features: Duplex built in 1920 with two 3‑bedroom units; Each unit features a modern kitchen; On‑premises laundry available
