1224 N State Street, Syracuse, NY 13208

$185,000
: 6
BD
: 2
BA
: 2,148
SqFt

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List Price: $185,000
Status: ACTIVE
Days on Market: 12
Price Change: ▼ $24,000 1790210069
MLS#: S1716507
Subtype: Residential
Style: Duplex
Architectural Style: Duplex
Year Built: 1880
Bedrooms: 6
Bathrooms: 2
Full Baths: 2
Living Area: 2,148
Lot Size: 5,100
Acres: 0.12
Subdivision: City/Syracuse
Neighborhood: City/Syracuse
MLS Area Major: Syracuse City

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Property Description

**INVESTMENT OPPORTUNITY | $29,400 ANNUAL GROSS RENTAL INCOME** Excellent opportunity to own a well-maintained **two-family property at 1224 N. State Street in Syracuse, NY**, featuring two spacious 3-bedroom, 1-bath apartments and a large, fully paved lot with abundant off-street parking. The property currently generates **$2,450 per month in combined rental income, or $29,400 annually in gross rental income**. Both apartments are occupied under **one-year leases**, with tenants current on rent and a history of being reliable and problem-free. Each apartment operates independently with its **own furnace, hot water tank, and separately metered utilities**. Tenants pay their own gas/electric utilities, while the owner is responsible only for water—helping keep operating expenses low and making this property especially attractive to investors. The first-floor apartment offers three bedrooms, one full bathroom, and washer/dryer hookups. The second-floor apartment also features three bedrooms and one full bathroom. Outside, the **fully paved lot requires no grass cutting or lawn maintenance** and provides substantial parking for tenants and guests. With two 3-bedroom units, separate utilities, existing leases, reliable rental income, minimal owner-paid utilities, and a spacious low-maintenance lot, **1224 N. State Street presents a compelling opportunity for an investor looking to add an income-producing property to their portfolio.**

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Additional Information

Exterior Features: Fully Fenced, Private Yard, See Remarks
Property Description: Duplex
Zoning: Residential 2 Unit
Flooring: Carpet, Laminate, Varies
Appliances: Gas Water Heater
Heating: Gas, Forced Air
Stories: 2
Levels: Two
Roof: Pitched, Shingle
Parking Features: Concrete, Paved, Two or More Spaces
Garage Spaces: 4
School District: Syracuse