825 E Hiawatha Blvd Unit | · Syracuse, NY 13208

$47,900

2 bd · 1.0 ba · 740 sqft · SingleFamily public records · 18 Days on market

Built 1910 4,600 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0

Listing remarks MLS

GREAT OPPORTUNITY FOR A HOMEOWNER OR INVESTOR! * * * * 2 HOUSES & 1 LOT CAN SOLD TOGETHER FOR $54,900 * * * 823 HIAWATHA BLVD, 825 HIAWATHA BLVD & 829 HIAWATHA BLVD SOLD TOGETHER AS $54,900 * * * SEE MLS S275334 & MLS S275341 & MLS S275345- CAN BE SOLD TOGETHER AT $54,900.

Key facts

• 4,600 sq ft lot
• Garage
• Built 1910

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $48k.

Deal economics

• At list price, monthly cash flow is $541 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $48k).
• Recommended offer: $47k (1.5% below list) — sets the bar for market timing.
• Cap rate 21.2% 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; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($331 loan paydown + $5k 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 $13k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 14y 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 $30k; list at $48k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $47,181 (1.5% below list)

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.50% ✓
• Cap rate: 21.24%
• Cash-on-cash: 53.40%
• DSCR: 3.38
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $143,560
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2619 Grant Blvd	0.53mi	2/1.0	720 (-3%)	6mo	$140,000	$194	66
148 Culbert St	0.74mi	2/1.0	770 (+4%)	2mo	$103,000	$134	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 62.3%
• Equity multiple: 5.52×
• Total profit: $60,624
• Equity at exit: $43,152

10-year hold

• IRR: 55.9%
• Equity multiple: 12.30×
• Total profit: $151,541
• Equity at exit: $93,059

Cash invested: $13,412 (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: 3.3×

Monthly cashflow live

• Estimated rent: $1,196 high
• Mortgage (P&I): −$251
• Tax from tax record: −$77 /mo · $922/yr
• Insurance: −$20
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $541

Break-even live

Break-even rent $511

Max offer price $47,900

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: $11,975
• Closing costs: $1,437
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1132 Wolf St Apt 1 Syracuse, NY	1.0	1.0	630	$1,000	$1.59	43d	1	0.22mi
1206 Spring St Apt 16 Syracuse, NY	1.0	1.0	600	$1,050	$1.75	21d	1	0.61mi
1509 N Salina St Unit 1 Syracuse, NY	1.0	1.0	600	$1,050	$1.75	43d	1	0.80mi
416 Danforth St Unit 1F Syracuse, NY	1.0	1.0	550	$1,100	$2.00	43d	1	0.95mi
122 Beechwood Ave Apt 2 Liverpool, NY	2.0	1.0	616	$1,495	$2.43	43d	1	0.97mi
912 Park St Unit 2 Syracuse, NY	1.0	1.0	620	$900	$1.45	43d	1	1.23mi
910 Park St Unit 2 Syracuse, NY	1.0	1.0	650	$950	$1.46	43d	1	1.23mi
6715 Buckley Rd Syracuse, NY	1.0–2.0	1.0	725	$2,175	$3.00	13d	5	1.37mi

Listing history 8 events

1. 2023-12-27
   status Pending
2. 2023-06-10
   status Under Contract- Do Not Show
3. 2023-05-30
   historical Continue to Show- Under Contract
4. 2023-05-24
   listed $47,900 Active
5. 2012-08-17
   soldstatus $30,000
6. 2012-08-16
   historical 306-char remark

   Show marketing remark (306 chars)

   GREAT OPPORTUNITY FOR A HOMEOWNER OR INVESTOR! * * * * 2 HOUSES & 1 LOT CAN SOLD TOGETHER FOR $54,900 * * * 823 HIAWATHA BLVD, 825 HIAWATHA BLVD & 829 HIAWATHA BLVD SOLD TOGETHER AS $54,900 * * * SEE MLS S275334 & MLS S275341 & MLS S275345- CAN BE SOLD TOGETHER AT $54,900.

7. 2012-08-13
   soldstatus $20,000 306-char remark

   Show marketing remark (306 chars)

   GREAT OPPORTUNITY FOR A HOMEOWNER OR INVESTOR! * * * * 2 HOUSES & 1 LOT CAN SOLD TOGETHER FOR $54,900 * * * 823 HIAWATHA BLVD, 825 HIAWATHA BLVD & 829 HIAWATHA BLVD SOLD TOGETHER AS $54,900 * * * SEE MLS S275334 & MLS S275341 & MLS S275345- CAN BE SOLD TOGETHER AT $54,900.

8. 2012-07-02
   listed $28,000 306-char remark

   Show marketing remark (306 chars)

   GREAT OPPORTUNITY FOR A HOMEOWNER OR INVESTOR! * * * * 2 HOUSES & 1 LOT CAN SOLD TOGETHER FOR $54,900 * * * 823 HIAWATHA BLVD, 825 HIAWATHA BLVD & 829 HIAWATHA BLVD SOLD TOGETHER AS $54,900 * * * SEE MLS S275334 & MLS S275341 & MLS S275345- CAN BE SOLD TOGETHER AT $54,900.

ⓘ 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: $922 · $77/mo
• Projected year-2 tax: $922 · $77/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 7/10 Severe FEMA zone X (unshaded) · 76% 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: $14,351
• − Mortgage interest: −$2,683
• − Property taxes: −$922
• − Insurance: −$906
• − Repairs & maintenance: −$1,148
• − Management: −$1,148
• − Depreciation: −$1,393
• Taxable income: $6,150
• Est. tax owed @ 24.0%: −$1,476
• After-tax cash flow: $5,019/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

+71.1% since first listed

8 events — show timeline

• 2023-12-27 Pending — CNYIS
• 2023-06-10 Pending — CNYIS
• 2023-05-30 Contingent — CNYIS
• 2023-05-24 Listed $47,900 CNYIS
• 2012-08-17 Sold (Public Records) $30,000 Public Records
• 2012-08-16 Listing Removed — CNYIS
• 2012-08-13 Sold (MLS) $20,000 CNYIS
• 2012-07-02 Listed $28,000 CNYIS

Property tax history

-0.3%/yr

Latest (2025): $922 · +0.0% YoY. Source: county tax records.