116 Pleasantview Ave #18 · Syracuse, NY 13208

$254,900

6 bd · 2.0 ba · 2,496 sqft · MultiFamily public records · 7 Days on market

Built 1930 9,704 sqft lot Est $195k · 31% over

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Why this score? — see what drove the D+ 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 +16.1/30.0
• Appreciation +10.0/10.0
• DSCR +5.0/10.0
• Livability +3.9/5.0
• 1% rule +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• ARV discount +0.0/15.0

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

Wow opportunity to own this exceptional and well maintained 2 family home and use the rental from the 2 nd unit to assist in paying your mortgage while building equity, great opportunity for investors as well! Both units offer 3 good sized bedrooms & closets, some new windows new ceiling fans, new kitchen, and bathroom, fresh paint, new carpet with hardwood floors underneath, and a new roof! Conveniently located near bus stop, parks and shop city!

Key facts

• 9,704 sq ft lot
• 4 garage spots
• Built 1930

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $255k.

Deal economics

• At list price, monthly cash flow is $128 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $217k (14.8% below list).
• Recommended offer: $217k (14.8% below list) — sets the bar for 1% rule.

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; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• At $2,171/mo this rent would consume 58% 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 $27k of equity ($2k loan paydown + $25k 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 $71k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$44k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 10y 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.

Risks & watch-outs

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

Recommended offer $217,065 (14.8% below list)

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.85% ✗
• Cap rate: 6.90%
• Cash-on-cash: 2.16%
• DSCR: 1.10
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $194,688
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1354 Oak St	0.23mi	5/2.0 (-1)	2,625 (+5%)	11mo	$185,000	$70	67
1403 Oak St #5	0.23mi	6/2.0	2,808 (+12%)	6mo	$220,000	$78	63
1356 Oak St	0.23mi	6/2.0	2,772 (+11%)	10mo	$212,000	$76	63
801 Dewitt St	0.26mi	6/2.0	2,672 (+7%)	18mo	$231,000	$86	61
2228 - 30 Grant Blvd #30	0.62mi	6/2.0	2,444 (-2%)	9mo	$222,000	$91	60
204 Helen St	0.59mi	6/2.0	2,687 (+8%)	8mo	$217,150	$81	53
101 Galster Ave #2	0.54mi	6/2.0	2,356 (-6%)	16mo	$115,000	$49	52
101 Galster Ave	0.54mi	6/2.0	2,356 (-6%)	22mo	$120,000	$51	47
177 Kuhl Ave	0.71mi	7/2.0 (+1)	2,776 (+11%)	3mo	$205,000	$74	41
712 Oak St	0.71mi	5/3.0 (-1)	2,461 (-1%)	19mo	$135,000	$55	39
1705 Court St	0.73mi	6/3.0	2,650 (+6%)	21mo	$260,000	$98	34
124 Peck Ave	0.73mi	6/2.0	2,148 (-14%)	13mo	$275,000	$128	32

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.8%
• Equity multiple: 3.06×
• Total profit: $146,927
• Equity at exit: $229,634

10-year hold

• IRR: 22.7%
• Equity multiple: 6.97×
• Total profit: $426,097
• Equity at exit: $495,215

Cash invested: $71,372 (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: 9.8×

Monthly cashflow live

• Estimated rent: $2,171 medium
• Mortgage (P&I): −$1,337
• Tax from tax record: −$144 /mo · $1,722/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$456
• Net cashflow: $128

Break-even live

Break-even rent $2,008

Max offer price $254,900

Occupancy floor 89%

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: $63,725
• Closing costs: $7,647
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
365 Green St Syracuse, NY	5.0	3.5	2263	$3,300	$1.46	21d	1	1.07mi

Listing history 11 events

1. 2026-04-14
   soldstatus $254,900
2. 2025-08-08
   status Pending
3. 2025-08-01
   listed $254,900 Active
4. 2025-01-14
   historical $1,750
5. 2025-01-07
   listed $1,750
6. 2024-12-16
   historical $1,750
7. 2024-11-01
   listed $1,750
8. 2016-06-23
   soldstatus $100,000
9. 2016-06-14
   soldstatus $99,900 Closed Sale or Rented 457-char remark

   Show marketing remark (457 chars)

   Wow opportunity to own this exceptional and well maintained 2 family home and use the rental from the 2 nd unit to assist in paying your mortgage while building equity, great opportunity for investors as well! Both units offer 3 good sized bedrooms & closets, some new windows new ceiling fans, new kitchen, and bathroom, fresh paint, new carpet with hardwood floors underneath, and a new roof! Conveniently located near bus stop, parks and shop city!

10. 2016-05-10
    status Pending Sale 457-char remark

    Show marketing remark (457 chars)

    Wow opportunity to own this exceptional and well maintained 2 family home and use the rental from the 2 nd unit to assist in paying your mortgage while building equity, great opportunity for investors as well! Both units offer 3 good sized bedrooms & closets, some new windows new ceiling fans, new kitchen, and bathroom, fresh paint, new carpet with hardwood floors underneath, and a new roof! Conveniently located near bus stop, parks and shop city!

11. 2016-05-02
    listed $99,900 Active 457-char remark

    Show marketing remark (457 chars)

    Wow opportunity to own this exceptional and well maintained 2 family home and use the rental from the 2 nd unit to assist in paying your mortgage while building equity, great opportunity for investors as well! Both units offer 3 good sized bedrooms & closets, some new windows new ceiling fans, new kitchen, and bathroom, fresh paint, new carpet with hardwood floors underneath, and a new roof! Conveniently located near bus stop, parks and shop city!

ⓘ 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: $1,722 · $144/mo
• Projected year-2 tax: $3,015 · $251/mo
• Expected delta: +$1,293/yr (+$108/mo · 75.1%)

ⓘ 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 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: $26,048
• − Mortgage interest: −$14,278
• − Property taxes: −$1,722
• − Insurance: −$1,274
• − Repairs & maintenance: −$2,084
• − Management: −$2,084
• − Depreciation: −$7,415
• Taxable loss: −$2,810
• Est. tax savings @ 24.0%: +$674
• After-tax cash flow: $2,215/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

+155.2% since first listed

11 events — show timeline

• 2026-04-14 Sold (Public Records) $254,900 Public Records
• 2025-08-08 Pending — CNYIS
• 2025-08-01 Listed $254,900 CNYIS
• 2025-01-14 Rental Removed $1,750 NYSAMLS
• 2025-01-07 Listed for Rent $1,750 NYSAMLS
• 2024-12-16 Rental Removed $1,750 NYSAMLS
• 2024-11-01 Listed for Rent $1,750 NYSAMLS
• 2016-06-23 Sold (Public Records) $100,000 Public Records
• 2016-06-14 Sold (MLS) $99,900 CNYIS
• 2016-05-10 Pending — CNYIS
• 2016-05-02 Listed $99,900 CNYIS

Property tax history

+0.1%/yr

Latest (2025): $1,722 · +0.0% YoY. Source: county tax records.