Residential Income
For Sale
Contact for pricing
803 DANFORTH ST, Syracuse, NY 13208
Residential income property offered for sale with one unit, listed for 1 unit on Danforth St.
Property Size2,740 SF
Price / SF$116.75
Days on Market67
Property Features for 803 DANFORTH ST
General Information
Standard status
Active
Size
2,740 SF
Property subtype
Multifamily
Additional Details
Multifamily Units
1
Building Details
Year Built
1860
Buildings
1
Stories
2
Units
3
Listing Agency:
Coldwell Banker Prime Properties
Listed By:
Susan Li · License #NY
(315) 278-7860
Source:
Crexi
Added: Jul 3
Changed: Aug 28
Last Checked: Sep 4 at 12:22PM
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 Coldwell Banker Prime Properties
Investment Insights
Based on property information with market context.
This residential income property is offered for sale as a one-unit multifamily. The offering is described publicly as a single unit configuration.
The property is located at 803 Danforth St in Syracuse, NY. The public remarks provided do not include additional details on layout, condition, or building improvements.
Additional information beyond the one-unit description, including any current occupancy, rent roll, or property specifics, is not included in the materials provided.
The property is located at 803 Danforth St in Syracuse, NY. The public remarks provided do not include additional details on layout, condition, or building improvements.
Additional information beyond the one-unit description, including any current occupancy, rent roll, or property specifics, is not included in the materials provided.
Key Highlights
- Year built: 1860
- Residential income property listed on Danforth St.
- One unit multifamily property
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
$25,870
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
8.09%
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%
$517,400
$517.4K
Cap Rate 7%
$369,571
$369.6K
Cap Rate 9%
$287,444
$287.4K
Market Conditions
NOI Build-Up for 2,740 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
$50.3K $18.36/SF
− Vacancy
−$3.3K −$1.19/SF
EGI
$47.0K $17.17/SF
− OpEx
−$21.2K −$7.72/SF
NOI
$25.9K $9.44/SF
Area
Syracuse, 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%
$517,400
Cap Rate 7%
$369,571
Cap Rate 9%
$287,444
Alternative Uses
Best Use
Apartment 5plus
$369.6K
$323.4K – $431.2K
NOI $25,870 @ 7.0% cap · market cap 8.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$476.2K
$416.7K – $555.5K
NOI $33,332 @ 7.0% cap · market cap 10.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
775
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
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 - Residential income property offered for sale with one unit, listed for 1 unit on Danforth St.
Where is this multifamily property located?
The property is located at 803 DANFORTH ST Syracuse, NY.
What is the asking price?
The asking price for this property is $319,900.
What are key features of this property?
This property features: Year built: 1860; Residential income property listed on Danforth St.; One unit multifamily property
