905 Cogswell Ave · Solvay, NY 13209

$220,000

3 bd · 2.0 ba · 1,636 sqft · MultiFamily public records · 7 Days on market

Built 1890 6,000 sqft lot Est $209k · 5% over

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Why this score? — see what drove the B- 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 +29.1/30.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• ARV discount +5.2/15.0
• Livability +3.6/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Nicely maintained 2-Family Solvay home with plenty of off street parking and super-sized garage. First floor unit has 2 bedrooms & 1 bath. Second floor has 3 bedrooms & 1 bath. Both apartments boast large eat-in-kitchen and 2 separate laundry hook-ups in basement. Roof, including plywood, replaced in 2019. Young furnaces and water heaters. Solvay electric. Separate meters. All new waste lines in the basement, including line for sewer which extends to the main at the road replaced 2018. Low maintenance vinyl siding. New chimney, and added gutters. Driveway sealed 2020. Showings begin 4/12 at Noon.

Key facts

• Updated full bath
• Bright living room
• Off-street parking

Tags

• DETACHED GARAGE
• OFF-STREET PARKING
• ENCLOSED FRONT PORCH
• BRIGHT LIVING ROOM
• NATURAL WOOD PANELING
• UPDATED FULL BATH

Property features AI

Finance

• Other: Owner pays grounds care, garage, and water; rent includes gardener, parking, and water
• Financial info: Two total units with separate gas and electric meters; Operating expenses include insurance and maintenance (structure and general); Unit rents reported: one unit at $780 (month-to-month), one unit at $1,300

Exterior

• Parking: Paved parking with two or more spaces; Garage with automatic door opener; Detached 2.5-car garage
• Utilities: Public water connected; Sewer connected; Cable available; High-speed internet available; Circuit breaker electrical service
• Home design: Two-story residential duplex (2 units); Existing structure
• Construction: Vinyl siding; Copper plumbing; Stone foundation; Asphalt roof; Built previously (existing)
• Exterior features: Enclosed porch and exterior porch; Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Oven/range; Refrigerator; Eat-in kitchen (in each unit)
• Bedrooms: One unit with 3 bedrooms; One unit with 2 bedrooms
• Flooring: Carpet; Hardwood; Vinyl; Varies
• Bathrooms: Two full bathrooms total (one full bath in each unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Thermal windows; Storage; Natural woodwork; Programmable thermostat
• Laundry & utility: Washer and dryer included in one unit; Common area laundry; Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $220k.

Deal economics

• At list price, monthly cash flow is $756 ($9k/yr) — positive. Per door: $378/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $220k).

Location & tenants

• Location reads 72/100 on livability (#350 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: employment D+, crime D, amenities F.
• Solvay Union Free School District (suburban): math 31% / reading 42% proficiency, ranked #550 of 590 in NY (top 93%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 59 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• At $3,160/mo this rent would consume 56% of the median local household income ($68k/yr) (locally 210% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Onondaga County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $62k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 11y 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 $130k; list at $220k implies a 69% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $220,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. Crime grade is D 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: 1.44% ✓
• Cap rate: 10.42%
• Cash-on-cash: 14.74%
• DSCR: 1.66
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $209,408
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
105 Cogswell Ave	0.39mi	3/4.0	1,780 (+9%)	20mo	$243,000	$137	43
2851 Milton Ave	0.50mi	2/2.5 (-1)	1,488 (-9%)	14mo	$190,000	$128	42
310 Hall Ave	0.62mi	4/2.0 (+1)	1,814 (+11%)	22mo	$165,000	$91	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 5.3%
• Equity multiple: 1.21×
• Total profit: $12,712
• Equity at exit: $32,803

10-year hold

• IRR: 14.8%
• Equity multiple: 2.20×
• Total profit: $73,850
• Equity at exit: $19,022

Cash invested: $61,600 (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 13209

• Home prices YoY: -7.7%
• Active inventory: 59
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $3,160 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$495 /mo · $5,935/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$664
• Net cashflow: $756

Break-even live

Break-even rent $2,202

Max offer price $220,000

Occupancy floor 71%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,160
Total (2 units)			$3,160

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
306 Hall Ave Unit Left Side Solvay, NY	3.0	1.5	1120	$1,750	$1.56	43d	1	0.62mi
104 Kincaid Ave Syracuse, NY	4.0	1.0	1910	$1,600	$0.84	13d	1	0.96mi
410 Chemung St Unit 1 Syracuse, NY	3.0	1.0	1100	$1,500	$1.36	13d	1	0.96mi
121 W End Dr Syracuse, NY	3.0	1.5	1082	$1,500	$1.39	13d	1	1.04mi
189 Lookout Cir Syracuse, NY	2.0	1.5	1304	$2,200	$1.69	43d	1	1.23mi

Listing history 15 events

1. 2026-06-07
   statusdays on market $220,000 Pending 7 DOM
2. 2026-06-02
   days on market $220,000 Active 6 DOM
3. 2026-06-01
   days on market $220,000 Active 5 DOM
4. 2026-05-31
   days on market $220,000 Active 4 DOM
5. 2026-05-30
   days on market $220,000 Active 3 DOM
6. 2026-05-27
   listed $220,000 Active
7. 2021-05-27
   soldstatus $130,000
8. 2021-05-21
   soldstatus $130,000 Closed Sale or Rented 617-char remark

   Show marketing remark (617 chars)

   Nicely maintained 2-Family Solvay home with plenty of off street parking and super-sized garage. First floor unit has 2 bedrooms & 1 bath. Second floor has 3 bedrooms & 1 bath. Both apartments boast large eat-in-kitchen and 2 separate laundry hook-ups in basement. Roof, including plywood, replaced in 2019. Young furnaces and water heaters. Solvay electric. Separate meters. All new waste lines in the basement, including line for sewer which extends to the main at the road replaced 2018. Low maintenance vinyl siding. New chimney, and added gutters. Driveway sealed 2020. Showings begin 4/12 at Noon.

9. 2021-04-15
   status Under Contract- Do Not Show 617-char remark

   Show marketing remark (617 chars)

   Nicely maintained 2-Family Solvay home with plenty of off street parking and super-sized garage. First floor unit has 2 bedrooms & 1 bath. Second floor has 3 bedrooms & 1 bath. Both apartments boast large eat-in-kitchen and 2 separate laundry hook-ups in basement. Roof, including plywood, replaced in 2019. Young furnaces and water heaters. Solvay electric. Separate meters. All new waste lines in the basement, including line for sewer which extends to the main at the road replaced 2018. Low maintenance vinyl siding. New chimney, and added gutters. Driveway sealed 2020. Showings begin 4/12 at Noon.

10. 2021-04-09
    listed $149,500 Active 617-char remark

    Show marketing remark (617 chars)

    Nicely maintained 2-Family Solvay home with plenty of off street parking and super-sized garage. First floor unit has 2 bedrooms & 1 bath. Second floor has 3 bedrooms & 1 bath. Both apartments boast large eat-in-kitchen and 2 separate laundry hook-ups in basement. Roof, including plywood, replaced in 2019. Young furnaces and water heaters. Solvay electric. Separate meters. All new waste lines in the basement, including line for sewer which extends to the main at the road replaced 2018. Low maintenance vinyl siding. New chimney, and added gutters. Driveway sealed 2020. Showings begin 4/12 at Noon.

11. 2016-01-27
    soldstatus $95,000
12. 2016-01-22
    soldstatus $95,000 Closed Sale or Rented 468-char remark

    Show marketing remark (468 chars)

    Well cared for 2 family home, great location of Solvay. Low Solvay Electric bills! All appliances stay! Washer/Dryer stay. Comfort Windows. Newer vinyl siding, new furnace, new garage roof. First Flr Apt-2 Bdrms, Second Flr Apt-3 Bdrms. Separate utilities & meters. Spacious kitchens. Great off-street parking, large driveway-Triple parking plus 3 car garage w/ new openers. Great investment property or live in one apt and tenant pays your mortgage! A Must See!

13. 2015-11-17
    status Pending Sale 468-char remark

    Show marketing remark (468 chars)

    Well cared for 2 family home, great location of Solvay. Low Solvay Electric bills! All appliances stay! Washer/Dryer stay. Comfort Windows. Newer vinyl siding, new furnace, new garage roof. First Flr Apt-2 Bdrms, Second Flr Apt-3 Bdrms. Separate utilities & meters. Spacious kitchens. Great off-street parking, large driveway-Triple parking plus 3 car garage w/ new openers. Great investment property or live in one apt and tenant pays your mortgage! A Must See!

14. 2015-11-06
    historical Continue to Show- Under Contract 468-char remark

    Show marketing remark (468 chars)

    Well cared for 2 family home, great location of Solvay. Low Solvay Electric bills! All appliances stay! Washer/Dryer stay. Comfort Windows. Newer vinyl siding, new furnace, new garage roof. First Flr Apt-2 Bdrms, Second Flr Apt-3 Bdrms. Separate utilities & meters. Spacious kitchens. Great off-street parking, large driveway-Triple parking plus 3 car garage w/ new openers. Great investment property or live in one apt and tenant pays your mortgage! A Must See!

15. 2015-10-16
    listed $109,900 Active 468-char remark

    Show marketing remark (468 chars)

    Well cared for 2 family home, great location of Solvay. Low Solvay Electric bills! All appliances stay! Washer/Dryer stay. Comfort Windows. Newer vinyl siding, new furnace, new garage roof. First Flr Apt-2 Bdrms, Second Flr Apt-3 Bdrms. Separate utilities & meters. Spacious kitchens. Great off-street parking, large driveway-Triple parking plus 3 car garage w/ new openers. Great investment property or live in one apt and tenant pays your mortgage! A Must See!

ⓘ 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: $5,935 · $495/mo
• Projected year-2 tax: $5,935 · $495/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $37,920
• − Mortgage interest: −$12,323
• − Property taxes: −$5,935
• − Insurance: −$1,100
• − Repairs & maintenance: −$3,034
• − Management: −$3,034
• − Depreciation: −$6,400
• Taxable income: $6,094
• Est. tax owed @ 24.0%: −$1,463
• After-tax cash flow: $7,615/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: Solvay Union Free School District
• NCES district ID: 3627150
• Math proficiency: 31% ▼ -14.00%
• Reading proficiency: 42% ▼ -4.00%
• Median HH income: $47,163
• Composite: 31.28/100
• National rank: #6018
• State rank: #550 of 590 in NY

Livability — Solvay

• Score: 72/100
• State rank: #350
• US rank: #5913

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Solvay, NY
• County: Onondaga County · 247,257 people
• Metro: Syracuse, NY
• Population (ZIP): 12,714
• Household income: $68,138
• Rent vs Own: 29.6% rent · 70.4% own
• Severe rent burden: 210.0

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: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 6% Hispanic / Latino 6% Black 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Romanian 11% Subsaharan African 6% Lithuanian 2%
• Foreign-born: 11% · Canada, China
• Languages at home: 87% English-only · Russian/Polish/Slavic 5% Spanish 3% Arabic 2%

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: ▼ -27.23%
• Current HPI: 326.7671
• 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

+100.2% since first listed

10 events — show timeline

• 2026-05-27 Listed $220,000 CNYIS
• 2021-05-27 Sold (Public Records) $130,000 Public Records
• 2021-05-21 Sold (MLS) $130,000 CNYIS
• 2021-04-15 Pending — CNYIS
• 2021-04-09 Listed $149,500 CNYIS
• 2016-01-27 Sold (Public Records) $95,000 Public Records
• 2016-01-22 Sold (MLS) $95,000 CNYIS
• 2015-11-17 Pending — CNYIS
• 2015-11-06 Contingent — CNYIS
• 2015-10-16 Listed $109,900 CNYIS

Property tax history

+14.4%/yr

Latest (2025): $5,935 · +9.0% YoY. Source: county tax records.