715 Park Ave · Syracuse, NY 13204

$95,000

4 bd · 2.0 ba · 1,648 sqft · MultiFamily public records · 65 Days on market

Built 1910 $58/sqft · 41% below area Est $188k · 50% 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
• Rent growth +4.6/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Great Big Apt Thats Renovated With Top Of The Line Appliances In The Kitchen , A Renovated Bathroom With A Large Living Room And A Large Bedroom Pets Allowed

Key facts

• Renovated bathroom
• Renovated kitchen
• Large living room

Tags

• RENOVATED KITCHEN
• RENOVATED BATHROOM
• LARGE LIVING ROOM
• PETS ALLOWED

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $95k.

Deal economics

• At list price, monthly cash flow is $835 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $89k (6.0% below list) — sets the bar for market timing.
• Cap rate 16.8% 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: Rents rising fast (+8.2%/yr); 119 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 47% 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 $1,862/mo this rent would consume 49% of the median local household income ($45k/yr) (locally 2073% 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 $10k of equity ($657 loan paydown + $10k 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 + 8.0% rent growth), your $27k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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 $65k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.96% ✓
• Cap rate: 16.83%
• Cash-on-cash: 37.65%
• DSCR: 2.68
• GRM: 4.3

CMA / ARV

• ARV (median comp): $188,389
• List price: $95,000
• Delta: -49.57%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
322 Liberty St	0.11mi	4/2.0	1,871 (+14%)	18mo	$165,000	$88	57

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

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 56.7%
• Equity multiple: 5.31×
• Total profit: $114,750
• Equity at exit: $85,584

10-year hold

• IRR: 52.3%
• Equity multiple: 13.05×
• Total profit: $320,536
• Equity at exit: $184,564

Cash invested: $26,600 (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 13204

• Home prices YoY: 31.6%
• Rents YoY: 8.2%
• Active inventory: 119
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,862 high
• Mortgage (P&I): −$498
• Tax from tax record: −$99 /mo · $1,188/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$391
• Net cashflow: $835

Break-even live

Break-even rent $806

Max offer price $95,000

Occupancy floor 50%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
121 Whittier Ave Syracuse, NY	4.0	1.0	1400	$600	$0.43	43d	1	0.53mi
349 Bryant Ave Syracuse, NY	3.0	1.5	1500	$2,300	$1.53	13d	1	0.79mi
318 Kellogg St Unit 2 Syracuse, NY	3.0	1.0	1523	$1,675	$1.10	43d	1	1.07mi
318 Kellogg St Unit 1 Syracuse, NY	3.0	1.0	1523	$1,650	$1.08	43d	1	1.07mi
326 Holland St Unit 1 Syracuse, NY	3.0	1.0	2100	$1,825	$0.87	43d	1	1.10mi
214 Rowland St Syracuse, NY	4.0	1.0	2092	$1,800	$0.86	13d	1	1.11mi
122 Putnam St Syracuse, NY	3.0	1.0	1064	$2,050	$1.93	21d	1	1.18mi
1110 Bellevue Ave Syracuse, NY	3.0	1.0	1449	$1,500	$1.04	43d	1	1.31mi
447 E Washington St Syracuse, NY	3.0	1.5	2095	$2,100	$1.00	13d	1	1.33mi
121 W End Dr Syracuse, NY	3.0	1.5	1082	$1,500	$1.39	13d	1	1.38mi
410 Chemung St Unit 1 Syracuse, NY	3.0	1.0	1100	$1,500	$1.36	13d	1	1.40mi
315 Grant Ave #17 Syracuse, NY	3.0	2.0	1477	$1,275	$0.86	13d	1	1.42mi
104 Kincaid Ave Syracuse, NY	4.0	1.0	1910	$1,600	$0.84	13d	1	1.44mi
205A Hawley Ave Unit 211C Syracuse, NY	3.0	2.5	1350	$1,675	$1.24	43d	1	1.47mi
205A Hawley Ave Unit 213C Syracuse, NY	3.0	2.5	1350	$1,650	$1.22	43d	1	1.47mi

Listing history 26 events

1. 2026-06-18
   days on market $95,000 Active 65 DOM
2. 2026-06-17
   days on market $95,000 Active 64 DOM
3. 2026-06-16
   days on market $95,000 Active 63 DOM
4. 2026-06-15
   days on market $95,000 Active 62 DOM
5. 2026-06-14
   days on market $95,000 Active 60 DOM
6. 2026-06-13
   days on market $95,000 Active 59 DOM
7. 2026-06-10
   days on market $95,000 Active 57 DOM
8. 2026-06-09
   days on market $95,000 Active 56 DOM
9. 2026-06-08
   days on market $95,000 Active 55 DOM
10. 2026-06-07
    days on market $95,000 Active 54 DOM
11. 2026-06-05
    days on market $95,000 Active 51 DOM
12. 2026-06-02
    days on market $95,000 Active 49 DOM
13. 2026-06-01
    days on market $95,000 Active 48 DOM
14. 2026-05-31
    days on market $95,000 Active 47 DOM
15. 2026-05-30
    days on market $95,000 Active 46 DOM
16. 2026-04-10
    listed $95,000 Active 157-char remark

    Show marketing remark (157 chars)

    Great Big Apt Thats Renovated With Top Of The Line Appliances In The Kitchen , A Renovated Bathroom With A Large Living Room And A Large Bedroom Pets Allowed

17. 2023-10-30
    status Pending Sale 896-char remark

    Show marketing remark (896 chars)

    Opportunity is right here . .! It Is The Location . .. Many investors know this area of Park Av has very successful location for real estate projects. Right around the Corner you cannot miss a high end restaurant La Strada Mia . Look closely . . this Two Family has many features ! You have three beds down and one bed up. . Separate utilities . .. Front Enclosed Porch & back deck . .. off street parking . . deep back yard fenced in . .. deck in back…metal fence. Plus there is TWO car garage used as storage ( needs TLC). . Note: Upper one bed heating is Simple both Heat and Hot Water are ELECTRIC. Lower apt has traditional gas for both the furnace and hot water tank. Close to newer shopping plaza that is steps away , bus stop, easy access to 690, minutes away from Destiny USA mall, and close to Syracuse downtown. PRICE TO SELL- Suggest you Move fast on this one . .!!!

18. 2023-09-15
    historical 896-char remark

    Show marketing remark (896 chars)

    Opportunity is right here . .! It Is The Location . .. Many investors know this area of Park Av has very successful location for real estate projects. Right around the Corner you cannot miss a high end restaurant La Strada Mia . Look closely . . this Two Family has many features ! You have three beds down and one bed up. . Separate utilities . .. Front Enclosed Porch & back deck . .. off street parking . . deep back yard fenced in . .. deck in back…metal fence. Plus there is TWO car garage used as storage ( needs TLC). . Note: Upper one bed heating is Simple both Heat and Hot Water are ELECTRIC. Lower apt has traditional gas for both the furnace and hot water tank. Close to newer shopping plaza that is steps away , bus stop, easy access to 690, minutes away from Destiny USA mall, and close to Syracuse downtown. PRICE TO SELL- Suggest you Move fast on this one . .!!!

19. 2023-08-29
    soldstatus $65,000
20. 2023-08-28
    soldstatus $65,000 Closed Sale or Rented 896-char remark

    Show marketing remark (896 chars)

    Opportunity is right here . .! It Is The Location . .. Many investors know this area of Park Av has very successful location for real estate projects. Right around the Corner you cannot miss a high end restaurant La Strada Mia . Look closely . . this Two Family has many features ! You have three beds down and one bed up. . Separate utilities . .. Front Enclosed Porch & back deck . .. off street parking . . deep back yard fenced in . .. deck in back…metal fence. Plus there is TWO car garage used as storage ( needs TLC). . Note: Upper one bed heating is Simple both Heat and Hot Water are ELECTRIC. Lower apt has traditional gas for both the furnace and hot water tank. Close to newer shopping plaza that is steps away , bus stop, easy access to 690, minutes away from Destiny USA mall, and close to Syracuse downtown. PRICE TO SELL- Suggest you Move fast on this one . .!!!

21. 2023-06-20
    historical Continue to Show- Under Contract 896-char remark

    Show marketing remark (896 chars)

    Opportunity is right here . .! It Is The Location . .. Many investors know this area of Park Av has very successful location for real estate projects. Right around the Corner you cannot miss a high end restaurant La Strada Mia . Look closely . . this Two Family has many features ! You have three beds down and one bed up. . Separate utilities . .. Front Enclosed Porch & back deck . .. off street parking . . deep back yard fenced in . .. deck in back…metal fence. Plus there is TWO car garage used as storage ( needs TLC). . Note: Upper one bed heating is Simple both Heat and Hot Water are ELECTRIC. Lower apt has traditional gas for both the furnace and hot water tank. Close to newer shopping plaza that is steps away , bus stop, easy access to 690, minutes away from Destiny USA mall, and close to Syracuse downtown. PRICE TO SELL- Suggest you Move fast on this one . .!!!

22. 2023-06-04
    listed $59,900 Active 896-char remark

    Show marketing remark (896 chars)

    Opportunity is right here . .! It Is The Location . .. Many investors know this area of Park Av has very successful location for real estate projects. Right around the Corner you cannot miss a high end restaurant La Strada Mia . Look closely . . this Two Family has many features ! You have three beds down and one bed up. . Separate utilities . .. Front Enclosed Porch & back deck . .. off street parking . . deep back yard fenced in . .. deck in back…metal fence. Plus there is TWO car garage used as storage ( needs TLC). . Note: Upper one bed heating is Simple both Heat and Hot Water are ELECTRIC. Lower apt has traditional gas for both the furnace and hot water tank. Close to newer shopping plaza that is steps away , bus stop, easy access to 690, minutes away from Destiny USA mall, and close to Syracuse downtown. PRICE TO SELL- Suggest you Move fast on this one . .!!!

23. 2022-03-01
    status Under Contract- Do Not Show
24. 2022-02-25
    historical
25. 2022-02-11
    price $39,000
26. 2021-12-24
    listed $43,000 Active

ⓘ 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: $1,188 · $99/mo
• Projected year-2 tax: $1,397 · $116/mo
• Expected delta: +$209/yr (+$17/mo · 17.6%)

ⓘ 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
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,349
• − Mortgage interest: −$5,321
• − Property taxes: −$1,188
• − Insurance: −$475
• − Repairs & maintenance: −$1,788
• − Management: −$1,788
• − Depreciation: −$2,764
• Taxable income: $9,025
• Est. tax owed @ 24.0%: −$2,166
• After-tax cash flow: $7,848/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): 19,440
• Household income: $45,351
• Rent vs Own: 70.8% rent · 29.2% own
• Severe rent burden: 2073.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 47% Black 26% Hispanic / Latino 17% Two or more races 13% Native American 1%
• Hispanic origin (detail): Puerto Rican 12% Cuban 2% Dominican 1%
• Common ancestry: Romanian 5% Lithuanian 2% Subsaharan African 2%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 83% English-only · Spanish 11% Russian/Polish/Slavic 3% Arabic 1%

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: ▲ 100.14%
• Current HPI: 416.7272
• Rent YoY: ▲ 8.24%
• 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

+120.9% since first listed

11 events — show timeline

• 2026-04-10 Listed $95,000 Fizber.com
• 2023-10-30 Pending — CNYIS
• 2023-09-15 Listing Removed — CNYIS
• 2023-08-29 Sold (Public Records) $65,000 Public Records
• 2023-08-28 Sold (MLS) $65,000 CNYIS
• 2023-06-20 Contingent — CNYIS
• 2023-06-04 Listed $59,900 CNYIS
• 2022-03-01 Pending — CNYIS
• 2022-02-25 Listing Removed — CNYIS
• 2022-02-11 Price Changed $39,000 CNYIS
• 2021-12-24 Listed $43,000 CNYIS

Property tax history

-0.1%/yr

Latest (2025): $1,188 · +0.0% YoY. Source: county tax records.