Two-Unit Duplex with Finished Third
For Sale
$349,000
Pending
825 Sumner Avenue #27, Syracuse, NY 13210
Residential, Syracuse, NY
Property Size1,917 SF
Lot Size0.13 Acres
Days on Market94
Property Features for 825 Sumner Avenue #27
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 4, Basement
Interior features
CeilingFans
Appliances
GasWaterHeater
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Syracuse
Middle school district
Syracuse
High school district
Syracuse
Directions
Euclid Ave to Sumner Ave
Subdivision
Syracuse City-311500
Standard status
Pending
APN
311500-052-000-0004-035-000-0000
Size
1,917 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
9203
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
washer/dryer
vaulted ceilings
hardwood floors
Building Details
Year built
1911
Floors in Building
2
Number of units
2
Flooring type
Varies, Hardwood, Tile
Building materials
Cedar, WoodSiding
Roof type
Shingle, Asphalt
Architectural style
Other
Listing Agency:
Keller Williams Syracuse · Keller Williams Realty
(315) 701-6900
Listed By:
Karen E Whalen · License #10301219318
(315) 663-6633
Added: Jun 3
Changed: Aug 19
Last Checked: Sep 4 at 8:06PM
MLS# S1686274
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1911, this duplex contains two vertically arranged apartments, each with two bedrooms, two full bathrooms, a generous living room, and individually metered utilities. A finished third level adds vaulted ceilings, natural light, and hardwood flooring. The property also includes two washer-and-dryer sets, a basement, forced-air natural gas heat, and a gas water heater.
Both apartments are leased through May 2027. Parking is available in the driveway and in an area behind the house. The 0.13-acre property is near Syracuse University, hospitals, downtown Syracuse, and neighborhood amenities. Two furnaces are approximately 8 years old, while the asphalt shingle roof is approximately 22 years old.
Both apartments are leased through May 2027. Parking is available in the driveway and in an area behind the house. The 0.13-acre property is near Syracuse University, hospitals, downtown Syracuse, and neighborhood amenities. Two furnaces are approximately 8 years old, while the asphalt shingle roof is approximately 22 years old.
Key Highlights
- Two apartments, each with 2 bedrooms and 2 full bathrooms
- Finished third floor with vaulted ceilings, natural light, and hardwood floors
- Both apartments rented through May 2027
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
$20,397
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
5.84%
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%
$407,940
$407.9K
Cap Rate 7%
$291,386
$291.4K
Cap Rate 9%
$226,633
$226.6K
Market Conditions
NOI Build-Up for 1,917 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
$31.1K $16.20/SF
− Vacancy
−$1.9K −$1.00/SF
EGI
$29.1K $15.20/SF
− OpEx
−$8.7K −$4.56/SF
NOI
$20.4K $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%
$407,940
Cap Rate 7%
$291,386
Cap Rate 9%
$226,633
Alternative Uses
Best Use
Multifamily LT 5
$291.4K
$255.0K – $340.0K
NOI $20,397 @ 7.0% cap · market cap 5.84%
Second Best
Apartment 5plus
$258.6K
$226.3K – $301.7K
NOI $18,100 @ 7.0% cap · market cap 5.19%
Theoretical Best
Office A
$333.2K
$291.5K – $388.7K
NOI $23,321 @ 7.0% cap · market cap 6.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
764
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Each apartment offers two bedrooms, two full bathrooms, separate utilities, and access to off-street parking.
Where is this duplex located?
The property is located at 825 Sumner Avenue #27 Syracuse, NY.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms and 2 full bathrooms; Finished third floor with vaulted ceilings, natural light, and hardwood floors; Both apartments rented through May 2027
