Two-Home Multifamily
For Sale
$369,900
Pending
7604-7610 Van Buren Rd Unit 7604, Baldwinsville, NY 13027
Updated residential income property with two homes situated on an expansive parcel near major regional routes.
Property Size2,778 SF
Days on Market36
Property Features for 7604-7610 Van Buren Rd Unit 7604
General Information
Standard status
Pending
Size
2,778 SF
Property subtype
Multi-Family
Building Details
Year Built
1950
Listing Agency:
Inquire Realty
Listed By:
Mandy Saloski · License #10301213151
(315) 427-4686
Source:
Skinnercnyrealty
Added: Jul 29
Changed: Aug 31
Last Checked: Sep 1 at 10:16PM
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 Inquire Realty
Investment Insights
Based on property information with market context.
This multifamily property comprises two updated homes on 2.07 acres in Baldwinsville, New York. The larger residence at 7610 Van Buren Rd contains 1,947 square feet, while the home at 7604 Van Buren Rd provides 831 square feet. Together, the residences total 2,778 square feet and offer a distinct two-home configuration on one parcel.
The property is located near I-690 and I-90, providing access to major regional roadways. Originally constructed in 1950, the homes have been updated while retaining their separate residential layouts. The combined offering provides two existing dwellings within a single multifamily property.
The property is located near I-690 and I-90, providing access to major regional roadways. Originally constructed in 1950, the homes have been updated while retaining their separate residential layouts. The combined offering provides two existing dwellings within a single multifamily property.
Key Highlights
- Two homes on 2.07 acres in Baldwinsville
- Combined building area of 2,778 square feet
- 7610 Van Buren Rd residence contains 1,947 square feet
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
$26,229
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
7.09%
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%
$524,580
$524.6K
Cap Rate 7%
$374,700
$374.7K
Cap Rate 9%
$291,433
$291.4K
Market Conditions
NOI Build-Up for 2,778 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
$51.0K $18.36/SF
− Vacancy
−$3.3K −$1.19/SF
EGI
$47.7K $17.17/SF
− OpEx
−$21.5K −$7.72/SF
NOI
$26.2K $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%
$524,580
Cap Rate 7%
$374,700
Cap Rate 9%
$291,433
Alternative Uses
Best Use
Apartment 5plus
$374.7K
$327.9K – $437.2K
NOI $26,229 @ 7.0% cap · market cap 7.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$482.8K
$422.4K – $563.3K
NOI $33,795 @ 7.0% cap · market cap 9.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
72
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Updated residential income property with two homes situated on an expansive parcel near major regional routes.
Where is this multifamily property located?
The property is located at 7604-7610 Van Buren Rd Unit 7604 Baldwinsville, NY.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: Two homes on 2.07 acres in Baldwinsville; Combined building area of 2,778 square feet; 7610 Van Buren Rd residence contains 1,947 square feet
