$100,000
●
Multifamily -
In Contract
3401 S Salina Street
Syracuse, NY 13205
6 Beds
2 Baths
$726
Estimated Monthly
$0
HOA / Fees
100.04%
Cap Rate
About This Property
This property seems like a lucrative investment opportunity with
its potential for high rental income. The fact that the owner has
already made necessary repairs and painted the interior adds to its
appeal. With two 3-bedroom apartments fetching an estimated rent of
$1300 each, the gross annual income of $31,200 is promising.
For prospective buyers, the option of obtaining a mortgage with a 25% down payment of $21,250 makes it accessible, and the potential to recoup the down payment within the first year due to the high rental income is quite attractive.
Additionally, the property's amenities such as off-street parking, proximity to shopping areas, small backyard reducing maintenance, and its location near Route 81 entrance and only 2 miles from Syracuse University make it appealing for tenants, potentially ensuring consistent occupancy.
Buyers are encouraged to consult with their agent or loan officer to assess the financial feasibility of this investment and to consider the potential for long-term returns. Overall, it appears to be a promising opportunity in the real estate market.
For prospective buyers, the option of obtaining a mortgage with a 25% down payment of $21,250 makes it accessible, and the potential to recoup the down payment within the first year due to the high rental income is quite attractive.
Additionally, the property's amenities such as off-street parking, proximity to shopping areas, small backyard reducing maintenance, and its location near Route 81 entrance and only 2 miles from Syracuse University make it appealing for tenants, potentially ensuring consistent occupancy.
Buyers are encouraged to consult with their agent or loan officer to assess the financial feasibility of this investment and to consider the potential for long-term returns. Overall, it appears to be a promising opportunity in the real estate market.
Unit Size
-
Days on Market
-
Land Size
0.27 acres
Price per sqft
-
Property Type
Multifamily
Property Taxes
$234
HOA Dues
-
Year Built
1931
Listed By
Last updated: 2 months ago (NYSAMLS #S1523904)
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
Mar 16, 2024 | In contract | - | |
In contract | |||
Mar 13, 2024 | Listed by Century 21 Tucci Realty | $100,000 | |
Listed by Century 21 Tucci Realty | |||
Nov 22, 2022 | Sold to Dave A Paris | $50,000 | |
Sold to Dave A Paris |
Property Highlights
Garage
Fireplace
Parking Details
Has Garage
Parking Features: Garage, Gravel, Twoor More Spaces
Garage Spaces: 2
Interior Details
Bedroom Information
Bedrooms: 6
Bathroom Information
Full Bathrooms: 2
Interior Information
Appliances: Gas Water Heater
Flooring Type: Hardwood, Varies
Fireplace Information
Has Fireplace
Fireplaces: 2
Basement Information
Has Basement
Full
Exterior Details
Property Information
Road Frontage Type: CityStreet
Property Condition: Resale
Year Built: 1931
Building Information
Roof: Asphalt, Shingle
Construction Materials: Block, Concrete
Lot Information
NearPublicTransit, Rectangular, ResidentialLot
Lot Size Dimensions: 76X156
Lot Size Acres: 0.2725
Lot Size Square Feet: 11870
Land Information
Land Assessed Value: $0
Financial Details
Tax Assessed Value: $49,900
Tax Annual Amount: $2,808
Utilities Details
Heating Type: Gas, Forced Air
Utilities: Cable Available, Sewer Connected, Water Connected
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Multifamily
4
Beds
2
Baths
-
$80,000
Oct 1, 2023
$80,000
Mar 14, 2024
$239/mo
Multifamily
4
Beds
2
Baths
-
$102,400
Oct 31, 2023
$102,400
Dec 27, 2023
$225/mo
House
3
Beds
2
Baths
-
$116,000
Apr 18, 2023
$116,000
Jul 10, 2023
$140/mo
House
4
Beds
2
Baths
-
$88,700
Jul 21, 2023
$88,700
Sep 28, 2023
$157/mo
House
4
Beds
2
Baths
-
$125,000
Mar 29, 2023
$125,000
Jun 23, 2023
$183/mo
In Contract
Multifamily
6
Beds
2
Baths
-
$80,000
Sep 11, 2023
-
$221/mo
In Contract
Multifamily
4
Beds
2
Baths
-
$110,000
Jan 31, 2024
-
$185/mo
In Contract
Multifamily
4
Beds
2
Baths
-
$119,900
Oct 23, 2023
-
$121/mo
Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|
Building Info
3401 South Salina Street
3401 South Salina Street, Syracuse, NY 13205
- 1 Unit for Sale