4966 State Route 31 · Brewerton, NY 13041

$400,000

4 bd · 1.5 ba · 2,760 sqft · MultiFamily public records · 873 Days on market

Built 1900 10,670 sqft lot $145/sqft · 36% below area Est $623k · 36% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• Schools +4.2/10.0
• Livability +3.3/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Investment opportunity only 2 minutes from the MICRON Chip Site. This home could easily be converted into a multi family investment and more! Four bedrooms, 2 full baths, one up and down. Large rooms, attached 2 car garage with a double driveway. Front porch, mud room and full basement. The attic is a walk up and could be a cute bedroom or teen space. Close to 481 and everything beyond, restaurants, mall shopping and fast food. Invest!

Key facts

• 0.24 acre lot
• 2 garage spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath multifamily listed at $400k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $400k).
• Recommended offer: $352k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 3.6% in Brewerton — 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 66/100 on livability (#618 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A, cost of living B+; Watch: amenities F, commute F, health & safety D-.
• North Syracuse Central School District (suburban): math 45% / reading 50% proficiency, ranked #402 of 590 in NY (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 63 active listings in the ZIP; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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 $112k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 873 days — a 12% lower offer ($352k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 17y 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 $56k; list at $400k implies a 613% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $352,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 873 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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. 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.
6. 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.
7. 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: 1.27% ✓
• Cap rate: 10.78%
• Cash-on-cash: 16.01%
• DSCR: 1.71
• GRM: 6.6

CMA / ARV

• ARV (median comp): $622,841
• List price: $400,000
• Delta: -35.78%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 6.9%
• Equity multiple: 1.27×
• Total profit: $30,277
• Equity at exit: $59,641

10-year hold

• IRR: 16.2%
• Equity multiple: 2.33×
• Total profit: $148,597
• Equity at exit: $34,585

Cash invested: $112,000 (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 13041

• Active inventory: 63
• Price-to-rent: 13.1×

Monthly cashflow live

• Estimated rent: $5,073 medium
• Mortgage (P&I): −$2,098
• Tax from tax record: −$249 /mo · $2,989/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,065
• Net cashflow: $1,494

Break-even live

Break-even rent $3,182

Max offer price $400,000

Occupancy floor 66%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$5,072
Total (2 units)			$5,073

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: $100,000
• Closing costs: $12,000
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-18
   days on market $400,000 Active 873 DOM
2. 2026-06-17
   days on market $400,000 Active 872 DOM
3. 2026-06-16
   days on market $400,000 Active 871 DOM
4. 2026-06-15
   days on market $400,000 Active 870 DOM
5. 2026-06-14
   days on market $400,000 Active 868 DOM
6. 2026-06-13
   days on market $400,000 Active 867 DOM
7. 2026-06-10
   days on market $400,000 Active 865 DOM
8. 2026-06-09
   days on market $400,000 Active 864 DOM
9. 2026-06-08
   days on market $400,000 Active 863 DOM
10. 2026-06-07
    days on market $400,000 Active 862 DOM
11. 2026-06-03
    days on market $400,000 Active 858 DOM
12. 2026-06-02
    days on market $400,000 Active 857 DOM
13. 2026-06-01
    days on market $400,000 Active 856 DOM
14. 2026-05-31
    days on market $400,000 Active 855 DOM
15. 2026-05-30
    days on market $400,000 Active 854 DOM
16. 2026-02-03
    status Active 441-char remark

    Show marketing remark (441 chars)

    Investment opportunity only 2 minutes from the MICRON Chip Site. This home could easily be converted into a multi family investment and more! Four bedrooms, 2 full baths, one up and down. Large rooms, attached 2 car garage with a double driveway. Front porch, mud room and full basement. The attic is a walk up and could be a cute bedroom or teen space. Close to 481 and everything beyond, restaurants, mall shopping and fast food. Invest!

17. 2026-02-01
    historical 441-char remark

    Show marketing remark (441 chars)

    Investment opportunity only 2 minutes from the MICRON Chip Site. This home could easily be converted into a multi family investment and more! Four bedrooms, 2 full baths, one up and down. Large rooms, attached 2 car garage with a double driveway. Front porch, mud room and full basement. The attic is a walk up and could be a cute bedroom or teen space. Close to 481 and everything beyond, restaurants, mall shopping and fast food. Invest!

18. 2024-01-25
    listed $400,000 Active 441-char remark

    Show marketing remark (441 chars)

    Investment opportunity only 2 minutes from the MICRON Chip Site. This home could easily be converted into a multi family investment and more! Four bedrooms, 2 full baths, one up and down. Large rooms, attached 2 car garage with a double driveway. Front porch, mud room and full basement. The attic is a walk up and could be a cute bedroom or teen space. Close to 481 and everything beyond, restaurants, mall shopping and fast food. Invest!

19. 2021-03-12
    soldstatus $56,100
20. 2021-03-05
    soldstatus $56,100 Closed Sale or Rented 1019-char remark

    Show marketing remark (1019 chars)

    HUD HOME!! This 2760 Sq ft Home has ton of potential. 4 spacious bedrooms, formal dining, family room and a bonus area. HUD Home. Sold “AS IS” by elec. bid only Prop avail 1-9-21. Bids due by 1-13-21 11:59 PM Central Time then daily until sold. FHA Case #371-420049. Uninsured. Eligible for FHA 203K. For Prop conditions, Forms, Discl & LBP under attachements. BLB Resources makes no warranty as to condition of property. Repairs exceed $10,000. Repairs may include but not limited to structure, electrical, roof, HVAC, and plumbing; Inspection recommended, Needed repairs: Plumbingsystem did not hold pressure and water heater damage. Furnace damage. Electrical inspection. Replace roof. Porch and fascia damage. Clean gutters, Peeling paint surfaces at exterior and interior. Some wood rot. Replace siding. Damaged windows. Missing basement windows, Repair wall, ceiling, trim, door, door frame damage. Replace torn door and porch screens. Missing slide-in range/oven. Water infiltration of basement

21. 2021-01-14
    status Pending Sale 1019-char remark

    Show marketing remark (1019 chars)

    HUD HOME!! This 2760 Sq ft Home has ton of potential. 4 spacious bedrooms, formal dining, family room and a bonus area. HUD Home. Sold “AS IS” by elec. bid only Prop avail 1-9-21. Bids due by 1-13-21 11:59 PM Central Time then daily until sold. FHA Case #371-420049. Uninsured. Eligible for FHA 203K. For Prop conditions, Forms, Discl & LBP under attachements. BLB Resources makes no warranty as to condition of property. Repairs exceed $10,000. Repairs may include but not limited to structure, electrical, roof, HVAC, and plumbing; Inspection recommended, Needed repairs: Plumbingsystem did not hold pressure and water heater damage. Furnace damage. Electrical inspection. Replace roof. Porch and fascia damage. Clean gutters, Peeling paint surfaces at exterior and interior. Some wood rot. Replace siding. Damaged windows. Missing basement windows, Repair wall, ceiling, trim, door, door frame damage. Replace torn door and porch screens. Missing slide-in range/oven. Water infiltration of basement

22. 2021-01-09
    listed $42,000 Active 1019-char remark

    Show marketing remark (1019 chars)

    HUD HOME!! This 2760 Sq ft Home has ton of potential. 4 spacious bedrooms, formal dining, family room and a bonus area. HUD Home. Sold “AS IS” by elec. bid only Prop avail 1-9-21. Bids due by 1-13-21 11:59 PM Central Time then daily until sold. FHA Case #371-420049. Uninsured. Eligible for FHA 203K. For Prop conditions, Forms, Discl & LBP under attachements. BLB Resources makes no warranty as to condition of property. Repairs exceed $10,000. Repairs may include but not limited to structure, electrical, roof, HVAC, and plumbing; Inspection recommended, Needed repairs: Plumbingsystem did not hold pressure and water heater damage. Furnace damage. Electrical inspection. Replace roof. Porch and fascia damage. Clean gutters, Peeling paint surfaces at exterior and interior. Some wood rot. Replace siding. Damaged windows. Missing basement windows, Repair wall, ceiling, trim, door, door frame damage. Replace torn door and porch screens. Missing slide-in range/oven. Water infiltration of basement

23. 2009-12-02
    soldstatus $76,320
24. 2009-12-02
    soldstatus $76,320
25. 2009-09-14
    listed $67,000
26. 2005-07-15
    soldstatus $82,500

ⓘ 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: $2,989 · $249/mo
• Projected year-2 tax: $4,874 · $406/mo
• Expected delta: +$1,886/yr (+$157/mo · 63.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $60,876
• − Mortgage interest: −$22,406
• − Property taxes: −$2,989
• − Insurance: −$2,000
• − Repairs & maintenance: −$4,870
• − Management: −$4,870
• − Depreciation: −$11,636
• Taxable income: $12,104
• Est. tax owed @ 24.0%: −$2,905
• After-tax cash flow: $15,026/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: North Syracuse Central School District
• NCES district ID: 3621210
• Math proficiency: 45% ▼ -9.00%
• Reading proficiency: 50% ▲ 1.00%
• Median HH income: $62,904
• Composite: 41.93/100
• National rank: #3356
• State rank: #402 of 590 in NY

Livability — Brewerton

• Score: 66/100
• State rank: #618
• US rank: #11214

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 7,594
• Population (ZIP): 12,094

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 (83%)
• Race & ethnicity: White 83% Two or more races 10% Black 3% Asian 3% Hispanic / Latino 2%
• Common ancestry: Romanian 7% Lithuanian 3% Slovak 2%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 89% English-only · Other Indo-European 4% Tagalog/Filipino 3% French/Haitian/Cajun 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: ▼ -235.12%
• Current HPI: 326.7838
• Rent YoY: —
• Metro: —
• 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

+384.8% since first listed

11 events — show timeline

• 2026-02-03 Relisted — CNYIS
• 2026-02-01 Listing Removed — CNYIS
• 2024-01-25 Listed $400,000 CNYIS
• 2021-03-12 Sold (Public Records) $56,100 Public Records
• 2021-03-05 Sold (MLS) $56,100 CNYIS
• 2021-01-14 Pending — CNYIS
• 2021-01-09 Listed $42,000 CNYIS
• 2009-12-02 Sold (Public Records) $76,320 Public Records
• 2009-12-02 Sold (MLS) $76,320 CNYIS
• 2009-09-14 Listed $67,000 CNYIS
• 2005-07-15 Sold (Public Records) $82,500 Public Records

Property tax history

+1.7%/yr

Latest (2025): $2,989 · +1.6% YoY. Source: county tax records.