307 Wadsworth St #9 · Syracuse, NY 13208

$240,000

20 bd · 16.0 ba · 5,061 sqft · MultiFamily public records · 57 Days on market

Built 1930 4,232 sqft lot $47/sqft · 37% below area Est $382k · 37% under

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Why this score? — see what drove the A grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Solid 4-unit investment property in a highly desirable rental location with a proven history of full occupancy. This building features three 1-bedroom units and one 2-bedroom unit, all with hardwood floors. Separate utilities with individual meters allow tenants to pay their own gas and electric, reducing owner expenses. Current rents are below market, offering strong upside potential for increased income. This property offers great potential with some updates and personal touches needed. The property also offers laundry hookups in the basement, providing an opportunity for additional revenue through coin-operated laundry. This property has great potential for owner occupied or ideal for investors looking to grow their portfolio.

Key facts

• Separate utilities
• Individual meters
• Hardwood floors

Tags

• 4 UNIT INVESTMENT PROPERTY
• HARDWOOD FLOORS
• SEPARATE UTILITIES
• INDIVIDUAL METERS

What this means for you Summary

Snapshot

• This is a 3×1bd/1ba + 1×2bd/1ba units multifamily listed at $240k.

Deal economics

• At list price, monthly cash flow is $3k ($39k/yr) — positive. Per door: $816/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $240k).
• Recommended offer: $233k (3.0% below list) — sets the bar for market timing.
• Cap rate 22.6% vs local median 8.2% in Syracuse — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 77/100 on livability (#187 in NY, #2,869 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools D+, crime F, employment D-.
• Syracuse City School District (urban): math 18% / reading 26% proficiency, ranked #590 of 590 in NY (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 99 active listings in the ZIP; lower-income renter base — watch delinquency; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• At $6,111/mo this rent would consume 164% of the median local household income ($45k/yr) (locally 1437% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $26k of equity ($2k loan paydown + $24k appreciation (10.0% local appreciation)).
• Onondaga County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $67k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $116k; list at $240k implies a 107% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $232,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.55% ✓
• Cap rate: 22.60%
• Cash-on-cash: 58.25%
• DSCR: 3.59
• GRM: 3.3

CMA / ARV

• ARV (median comp): $381,952
• List price: $240,000
• Delta: -37.16%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 70.7%
• Equity multiple: 6.04×
• Total profit: $338,517
• Equity at exit: $216,211

10-year hold

• IRR: 64.5%
• Equity multiple: 13.40×
• Total profit: $833,555
• Equity at exit: $466,267

Cash invested: $67,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 13208

• Home prices YoY: 8.4%
• Active inventory: 99
• Price-to-rent: 13.3×

Monthly cashflow live

• Estimated rent: $6,111 high
• Mortgage (P&I): −$1,259
• Tax from tax record: −$207 /mo · $2,483/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,283
• Net cashflow: $3,262

Break-even live

Break-even rent $1,982

Max offer price $240,000

Occupancy floor 42%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$4,524
1× unit	2	1	$1,586
Total (4 units)			$6,111

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-18
   days on market $240,000 Active 57 DOM
2. 2026-06-17
   days on market $240,000 Active 56 DOM
3. 2026-06-16
   days on market $240,000 Active 55 DOM
4. 2026-06-15
   days on market $240,000 Active 54 DOM
5. 2026-06-14
   days on market $240,000 Active 52 DOM
6. 2026-06-13
   days on market $240,000 Active 51 DOM
7. 2026-06-10
   days on market $240,000 Active 49 DOM
8. 2026-06-09
   days on market $240,000 Active 48 DOM
9. 2026-06-08
   days on market $240,000 Active 47 DOM
10. 2026-06-07
    days on market $240,000 Active 46 DOM
11. 2026-06-05
    days on market $240,000 Active 43 DOM
12. 2026-06-02
    days on market $240,000 Active 41 DOM
13. 2026-06-01
    days on market $240,000 Active 40 DOM
14. 2026-05-31
    days on market $240,000 Active 39 DOM
15. 2026-05-30
    days on market $240,000 Active 38 DOM
16. 2026-04-22
    listed $240,000 Active 739-char remark

    Show marketing remark (739 chars)

    Solid 4-unit investment property in a highly desirable rental location with a proven history of full occupancy. This building features three 1-bedroom units and one 2-bedroom unit, all with hardwood floors. Separate utilities with individual meters allow tenants to pay their own gas and electric, reducing owner expenses. Current rents are below market, offering strong upside potential for increased income. This property offers great potential with some updates and personal touches needed. The property also offers laundry hookups in the basement, providing an opportunity for additional revenue through coin-operated laundry. This property has great potential for owner occupied or ideal for investors looking to grow their portfolio.

17. 2019-11-12
    soldstatus $116,000
18. 2019-10-31
    status Pending Sale 386-char remark

    Show marketing remark (386 chars)

    Solid 4-unit bldg in excellent rental area - great investment. Tenants have separate meters & pay their own gas/electric bills. All rents should be higher. All units rented, never a vacancy. Three one bedroom and one two bedroom units. All units have hardwoods. Brand new roof on South side of building. Laundry hookups in basement, perfect opportunity for coin-op laundry income.

19. 2019-10-30
    historical 386-char remark

    Show marketing remark (386 chars)

    Solid 4-unit bldg in excellent rental area - great investment. Tenants have separate meters & pay their own gas/electric bills. All rents should be higher. All units rented, never a vacancy. Three one bedroom and one two bedroom units. All units have hardwoods. Brand new roof on South side of building. Laundry hookups in basement, perfect opportunity for coin-op laundry income.

20. 2019-10-29
    soldstatus $116,000 Closed Sale or Rented 386-char remark

    Show marketing remark (386 chars)

    Solid 4-unit bldg in excellent rental area - great investment. Tenants have separate meters & pay their own gas/electric bills. All rents should be higher. All units rented, never a vacancy. Three one bedroom and one two bedroom units. All units have hardwoods. Brand new roof on South side of building. Laundry hookups in basement, perfect opportunity for coin-op laundry income.

21. 2019-08-09
    historical Continue to Show- Under Contract 386-char remark

    Show marketing remark (386 chars)

    Solid 4-unit bldg in excellent rental area - great investment. Tenants have separate meters & pay their own gas/electric bills. All rents should be higher. All units rented, never a vacancy. Three one bedroom and one two bedroom units. All units have hardwoods. Brand new roof on South side of building. Laundry hookups in basement, perfect opportunity for coin-op laundry income.

22. 2019-07-16
    price $119,000 386-char remark

    Show marketing remark (386 chars)

    Solid 4-unit bldg in excellent rental area - great investment. Tenants have separate meters & pay their own gas/electric bills. All rents should be higher. All units rented, never a vacancy. Three one bedroom and one two bedroom units. All units have hardwoods. Brand new roof on South side of building. Laundry hookups in basement, perfect opportunity for coin-op laundry income.

23. 2019-06-10
    price $119,800 386-char remark

    Show marketing remark (386 chars)

    Solid 4-unit bldg in excellent rental area - great investment. Tenants have separate meters & pay their own gas/electric bills. All rents should be higher. All units rented, never a vacancy. Three one bedroom and one two bedroom units. All units have hardwoods. Brand new roof on South side of building. Laundry hookups in basement, perfect opportunity for coin-op laundry income.

24. 2019-04-26
    price $119,900 386-char remark

    Show marketing remark (386 chars)

    Solid 4-unit bldg in excellent rental area - great investment. Tenants have separate meters & pay their own gas/electric bills. All rents should be higher. All units rented, never a vacancy. Three one bedroom and one two bedroom units. All units have hardwoods. Brand new roof on South side of building. Laundry hookups in basement, perfect opportunity for coin-op laundry income.

25. 2019-02-11
    price $124,500 386-char remark

    Show marketing remark (386 chars)

    Solid 4-unit bldg in excellent rental area - great investment. Tenants have separate meters & pay their own gas/electric bills. All rents should be higher. All units rented, never a vacancy. Three one bedroom and one two bedroom units. All units have hardwoods. Brand new roof on South side of building. Laundry hookups in basement, perfect opportunity for coin-op laundry income.

26. 2018-08-14
    price $124,900 386-char remark

    Show marketing remark (386 chars)

    Solid 4-unit bldg in excellent rental area - great investment. Tenants have separate meters & pay their own gas/electric bills. All rents should be higher. All units rented, never a vacancy. Three one bedroom and one two bedroom units. All units have hardwoods. Brand new roof on South side of building. Laundry hookups in basement, perfect opportunity for coin-op laundry income.

27. 2018-07-20
    listed $129,900 Active 386-char remark

    Show marketing remark (386 chars)

    Solid 4-unit bldg in excellent rental area - great investment. Tenants have separate meters & pay their own gas/electric bills. All rents should be higher. All units rented, never a vacancy. Three one bedroom and one two bedroom units. All units have hardwoods. Brand new roof on South side of building. Laundry hookups in basement, perfect opportunity for coin-op laundry income.

28. 2007-07-31
    soldstatus $118,000
29. 2003-09-09
    soldstatus $91,000
30. 2002-06-07
    soldstatus $47,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $2,483 · $207/mo
• Projected year-2 tax: $3,269 · $272/mo
• Expected delta: +$787/yr (+$66/mo · 31.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $73,332
• − Mortgage interest: −$13,444
• − Property taxes: −$2,483
• − Insurance: −$1,200
• − Repairs & maintenance: −$5,867
• − Management: −$5,867
• − Depreciation: −$6,982
• Taxable income: $37,490
• Est. tax owed @ 24.0%: −$8,998
• After-tax cash flow: $30,149/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Syracuse City School District
• NCES district ID: 3628590
• Math proficiency: 18% ▼ -5.00%
• Reading proficiency: 26% ▬ 0.00%
• Median HH income: $32,097
• Composite: 17.83/100
• National rank: #9007
• State rank: #590 of 590 in NY

Livability — Syracuse

• Score: 77/100
• State rank: #187
• US rank: #2869

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime F Employment D- Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Syracuse, NY
• County: Onondaga County · 247,257 people
• City population: 152,627
• Metro: Syracuse, NY
• Population (ZIP): 22,993
• Household income: $44,712
• Rent vs Own: 50.8% rent · 49.2% own
• Severe rent burden: 1437.0

Population outlook (Onondaga County) Hauer SSP2

• Today (2025): 467,894 people
• By 2030: 463,381 · -1.0%
• By 2040: 447,697 · -4.3%
• By 2050: 426,399 · -8.9%
• By 2075: 373,661 · -20.1%
• By 2100: 307,967 · -34.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 46% Black 24% Asian 14% Two or more races 10% Hispanic / Latino 6%
• Hispanic origin (detail): Puerto Rican 4% Dominican 1%
• Common ancestry: Romanian 3% Swedish 3% Italian 1%
• Foreign-born: 22% · Vietnam, Philippines, Canada
• Languages at home: 70% English-only · Spanish 6% Other Asian/Pacific 5% Vietnamese 4%

Political lean MEDSL · Onondaga

• 2024 margin: D (+17.3) · D 58.6% · R 41.4%
• 2008→2024 swing: -3.0pp toward R · 2008: 20.3pp · 2024: 17.3pp
• All cycles: 2024: D+17.3 2020: D+20.6 2016: D+12.8 2012: D+21.1 2008: D+20.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 30.91%
• Current HPI: 399.3284
• Rent YoY: —
• Metro: Syracuse, NY
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

+410.6% since first listed

15 events — show timeline

• 2026-04-22 Listed $240,000 CNYIS
• 2019-11-12 Sold (Public Records) $116,000 Public Records
• 2019-10-31 Pending — CNYIS
• 2019-10-30 Listing Removed — CNYIS
• 2019-10-29 Sold (MLS) $116,000 CNYIS
• 2019-08-09 Contingent — CNYIS
• 2019-07-16 Price Changed $119,000 CNYIS
• 2019-06-10 Price Changed $119,800 CNYIS
• 2019-04-26 Price Changed $119,900 CNYIS
• 2019-02-11 Price Changed $124,500 CNYIS
• 2018-08-14 Price Changed $124,900 CNYIS
• 2018-07-20 Listed $129,900 CNYIS
• 2007-07-31 Sold (Public Records) $118,000 Public Records
• 2003-09-09 Sold (Public Records) $91,000 Public Records
• 2002-06-07 Sold (Public Records) $47,000 Public Records

Property tax history

+0.2%/yr

Latest (2025): $2,483 · +0.0% YoY. Source: county tax records.