Two-Unit Duplex with Detached
For Sale
$109,000
733 N Alvord Street, Syracuse, NY 13208
An occupied first-floor apartment accompanies a lower-level unit that needs additional work.
Property Size918 SF
Days on Market8
Property Features for 733 N Alvord Street
General Information
Standard status
Active
Size
918 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
requires additional work
Units
Unit Mix
1 x 2BR, 1 x 1BR
Multifamily Units
2
Building Details
Building Size
918 SF
Year Built
1920
Stories
1
Listing Agency:
Mauro Bros Real Estate Ser LLC
Listed By:
Andre B Mauro · License #10491201020
(646) 238-5965
Source:
Stacyfaunce.kw
Added: Sep 25
Changed: Sep 30
Last Checked: Oct 1 at 8:26AM
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 Mauro Bros Real Estate Ser LLC
Investment Insights
Based on property information with market context.
Built in 1920, this two-unit property has a two-bedroom apartment on the first floor and a partially finished one-bedroom apartment below. The first-floor unit is occupied on a month-to-month basis. Completing the lower-level apartment will require additional work.
A detached garage accommodates two cars, with a side driveway and off-street parking also on the property.
A detached garage accommodates two cars, with a side driveway and off-street parking also on the property.
Key Highlights
- Two‑unit duplex built in 1920
- First‑floor apartment has two bedrooms and is occupied month‑to‑month
- Partially finished lower‑level apartment has one bedroom and requires additional work
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
$9,768
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
8.96%
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%
$195,360
$195.4K
Cap Rate 7%
$139,543
$139.5K
Cap Rate 9%
$108,533
$108.5K
Market Conditions
NOI Build-Up for 918 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
$14.9K $16.20/SF
− Vacancy
−$918 −$1.00/SF
EGI
$14.0K $15.20/SF
− OpEx
−$4.2K −$4.56/SF
NOI
$9.8K $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%
$195,360
Cap Rate 7%
$139,543
Cap Rate 9%
$108,533
Alternative Uses
Best Use
Multifamily LT 5
$139.5K
$122.1K – $162.8K
NOI $9,768 @ 7.0% cap · market cap 8.96%
Second Best
Apartment 5plus
$123.8K
$108.3K – $144.5K
NOI $8,667 @ 7.0% cap · market cap 7.95%
Theoretical Best
Office A
$159.5K
$139.6K – $186.1K
NOI $11,168 @ 7.0% cap · market cap 10.25%
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
1,510
Businesses Nearby
Explore this area
Business Placement
Demographics for 13208, NY
23,603
Population
10,325
Households
2.3
Avg Household Size
33
Median Age
19%
College-Educated
77%
High-School Grad
4.1 sq mi
ZIP Area
5,757
Density / Sq Mi
$40,641
Median Household Income
$35,015
Median Earnings
$999
Median Rent
$110,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - An occupied first-floor apartment accompanies a lower-level unit that needs additional work.
Where is this duplex located?
The property is located at 733 N Alvord Street Syracuse, NY.
What is the asking price?
The asking price for this property is $109,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1920; First‑floor apartment has two bedrooms and is occupied month‑to‑month; Partially finished lower‑level apartment has one bedroom and requires additional work
