Westcott Street Multifamily Investment
822 Westcott St, Syracuse, NY 13210
For Sale
$440,000
Three-unit property near Syracuse University and Westcott Street business district.
Property Size3,297 SF
Price / SF$133.45
Days on Market201
Property Features for 822 Westcott St
General Information
Standard status
Size
Property subtype
Building Details
Year Built
Listing Agency:
University Hill Realty Ltd
Listed By:
Daniel Murphy · License NY #10301206321
(315) 460-0024
Source:
Rooftoprealtygroup
Added: Apr 28
Changed: Nov 11
Last Checked: Oct 7 at 2:40PM
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 University Hill Realty Ltd
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located at 822 Westcott Street, this three-unit multifamily property is situated in a desirable rental area of Syracuse. The property includes one 5-bedroom, 2-bath unit, one 4-bedroom, 2-bath unit, and one 2-bedroom, 1-bath unit. The location is on a bus line and near Syracuse University, offering convenient access to campus for students and other renters. The property is within walking distance of the Westcott Street business district, providing tenants with access to shopping, restaurants, entertainment, and services. The area has consistent rental demand and proximity to amenities, making it suitable for investors seeking cash flow and long-term value.
Key Highlights
- Prime location in a highly desirable Syracuse rental corridor near Syracuse University.
- Strong income‑producing property with three spacious units: a 5‑bedroom, 2‑bath, a 4‑bedroom, 2‑bath, and a 2‑bedroom, 1‑bath.
- High rental appeal due to proximity to Syracuse University and the Westcott Street business district.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,081
Cap Rate
7.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$701,620
$701.6K
Cap Rate 7%
$501,157
$501.2K
Cap Rate 9%
$389,789
$389.8K
Market Conditions
NOI Build-Up for 3,297 SF
Gross rent
$53.4K $16.20/SF
− Vacancy
−$3.3K −$1.00/SF
EGI
$50.1K $15.20/SF
− OpEx
−$15.0K −$4.56/SF
NOI
$35.1K $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%
$701,620
Cap Rate 7%
$501,157
Cap Rate 9%
$389,789
Alternative Uses
Best Use
Multifamily LT 5
$501.2K
$438.5K – $584.7K
NOI $35,081 @ 7.0% cap · market cap 7.97%
Second Best
Apartment 5plus
$444.7K
$389.1K – $518.8K
NOI $31,129 @ 7.0% cap · market cap 7.07%
Theoretical Best
Office A
$573.0K
$501.4K – $668.5K
NOI $40,108 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
491
Businesses Nearby
Explore this area
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
$167,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Triplexes in Syracuse, NY
Properties on Market for Triplexes in Syracuse
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property near Syracuse University and Westcott Street business district.
Where is this triplex located?
The property is located at 822 Westcott St Syracuse, NY.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: Prime location in a highly desirable Syracuse rental corridor near Syracuse University.; Strong income‑producing property with three spacious units: a 5‑bedroom, 2‑bath, a 4‑bedroom, 2‑bath, and a 2‑bedroom, 1‑bath.; High rental appeal due to proximity to Syracuse University and the Westcott Street business district.
