Student Housing
717-19 Ackerman Avenue, Syracuse, NY 13210
For Sale
$425,000
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$167.45
Days on Market152
Property Features for 717-19 Ackerman Avenue
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Listing Agency:
CBRE | Syracuse
Listed By:
Mark Rupprecht, CCIM · License NY 30RU1016227
(315) 422-4200
Source:
Cbre
Added: Jun 16
Changed: Nov 12
Last Checked: Nov 12 at 5:49AM
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
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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 / Yr
$27,005
Cap Rate
6.35%
Suggested Prices Based on Cap Rates
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
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 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 6.35%
Second Best
Apartment 5plus
$342.3K
$299.5K – $399.4K
NOI $23,963 @ 7.0% cap · market cap 5.64%
Theoretical Best
Office A
$441.1K
$385.9K – $514.6K
NOI $30,875 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
883
Businesses Nearby
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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
$167,200
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Syracuse, NY
Properties on Market for Duplexes in Syracuse
Vacancy Rate% for Multifamily in Northeast region
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 $425,000.
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
