Duplex With Shop
New
For Sale
$300,000
73 Syracuse St, Van Buren, NY 13027
Two residential units include separate laundry areas and additional adaptable space.
Property Size2,697 SF
Days on Market6
Property Features for 73 Syracuse St
General Information
Standard status
Active
Size
2,697 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 3BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,790
Amenities
in-unit laundry
full basement
shop/garage
bonus room
Building Details
Building Size
2,697 SF
Year Built
1900
Stories
2
Units
2
Listed By:
Danielle Denise Borden
(888) 276-0630
Source:
Elliman
Added: Sep 20
Last Checked: Sep 24 at 12:52PM
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 Danielle Denise Borden
Investment Insights
Based on property information with market context.
This duplex, built in 1900, includes a three-bedroom, two-bath residence and a second one-bedroom, one-bath unit with an additional bonus room. Both units have their own laundry areas, while the full basement provides further room and extra laundry hookups.
The property also includes a large shop and garage equipped with electricity and plumbing. A bonus area above the garage adds space along with a full bathroom. Set on just shy of an acre at 73 Syracuse St in Van Buren, the property is within the Baldwinsville School District and offers a village setting with substantial outdoor area.
The property also includes a large shop and garage equipped with electricity and plumbing. A bonus area above the garage adds space along with a full bathroom. Set on just shy of an acre at 73 Syracuse St in Van Buren, the property is within the Baldwinsville School District and offers a village setting with substantial outdoor area.
Key Highlights
- Two‑unit layout with 3‑bedroom and 1‑bedroom residences
- Larger unit includes 2 full bathrooms; second unit has 1 full bath
- Separate laundry in each unit plus additional basement hookups
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
$25,464
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
8.49%
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%
$509,280
$509.3K
Cap Rate 7%
$363,771
$363.8K
Cap Rate 9%
$282,933
$282.9K
Market Conditions
NOI Build-Up for 2,697 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
$49.5K $18.36/SF
− Vacancy
−$3.2K −$1.19/SF
EGI
$46.3K $17.17/SF
− OpEx
−$20.8K −$7.72/SF
NOI
$25.5K $9.44/SF
Area
Onondaga County, NY
Vacancy
6.50%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
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%
$509,280
Cap Rate 7%
$363,771
Cap Rate 9%
$282,933
Alternative Uses
Best Use
Multifamily LT 5
$410.0K
$358.7K – $478.3K
NOI $28,697 @ 7.0% cap · market cap 9.57%
Second Best
Apartment 5plus
$363.8K
$318.3K – $424.4K
NOI $25,464 @ 7.0% cap · market cap 8.49%
Theoretical Best
Office A
$468.7K
$410.1K – $546.8K
NOI $32,809 @ 7.0% cap · market cap 10.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
493
Businesses Nearby
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Business Placement
Demographics for 13027, NY
34,507
Population
15,276
Households
2.3
Avg Household Size
44
Median Age
45%
College-Educated
96%
High-School Grad
67.0 sq mi
ZIP Area
515
Density / Sq Mi
$91,369
Median Household Income
$55,805
Median Earnings
$1,258
Median Rent
$226,500
Median Home Value
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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 - Two residential units include separate laundry areas and additional adaptable space.
Where is this duplex located?
The property is located at 73 Syracuse St Van Buren, NY.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Two‑unit layout with 3‑bedroom and 1‑bedroom residences; Larger unit includes 2 full bathrooms; second unit has 1 full bath; Separate laundry in each unit plus additional basement hookups
