47 Franklin Ave · SUNY Oswego, NY 13126

$220,000

3 bd · 2.0 ba · 1,715 sqft · MultiFamily public records · 22 Days on market

Built 1960

---

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 +26.6/30.0
• DSCR +9.1/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Rent growth +5.0/5.0
• Appreciation +3.9/10.0
• Schools +3.8/10.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks

Great location next to SUNY Oswego, walking distance to Lake Ontario. New Roof (Nov. 2025) Two rental units.

Key facts

• New roof
• Built 1960
• Listed 22 days

Tags

• LOCATION NEXT TO SUNY OSWEGO
• NEW ROOF

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $220k.

Deal economics

• At list price, monthly cash flow is $588 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $220k).
• Recommended offer: $217k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#911 in NY) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, crime A; Watch: amenities F, employment F, housing F.
• Oswego City School District (town): math 39% / reading 51% proficiency, ranked #465 of 590 in NY (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+19.2%/yr); 168 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 172 units permitted in Oswego County in 2024 (27 in 5+ unit buildings).
• At $2,736/mo this rent would consume 50% of the median local household income ($65k/yr) (locally 1341% 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 (-2.2%/yr); year-one equity from $2k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Oswego County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-2.2% appreciation + 8.0% rent growth), your $62k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($217k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $118k; list at $220k implies a 86% gain — meaningful room to come down on a strong offer.

Recommended offer $216,700 (1.5% below list)

Questions for the listing agent

1. Built in 1960 — 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. 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.
4. 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.
5. 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: 1.24% ✓
• Cap rate: 9.50%
• Cash-on-cash: 11.46%
• DSCR: 1.51
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-2.25% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 8.7%
• Equity multiple: 1.38×
• Total profit: $23,306
• Equity at exit: $40,194

10-year hold

• IRR: 20.6%
• Equity multiple: 3.29×
• Total profit: $140,773
• Equity at exit: $31,964

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 13126

• Home prices YoY: -0.8%
• Rents YoY: 19.2%
• Active inventory: 168
• Price-to-rent: 13.4×

Monthly cashflow live

• Estimated rent: $2,736 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$328 /mo · $3,932/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$575
• Net cashflow: $588

Break-even live

Break-even rent $1,991

Max offer price $220,000

Occupancy floor 73%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,736
Total (2 units)			$2,736

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 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
120 Sheldon Ave Unit A Oswego, NY	4.0	2.0	2100	$2,480	$1.18	13d	1	0.21mi
164 W Schuyler St Unit A Oswego, NY	3.0	2.0	1400	$1,755	$1.25	13d	1	0.80mi
161 W Bridge St Unit A Oswego, NY	4.0	2.0	1400	$2,240	$1.60	13d	1	0.81mi
153 W Bridge St Unit A Oswego, NY	4.0	1.5	1800	$2,340	$1.30	13d	1	0.84mi
143 Liberty St Unit A Oswego, NY	4.0	2.0	1700	$2,480	$1.46	13d	1	0.85mi
85 Liberty St Unit A Oswego, NY	4.0	2.0	1800	$2,500	$1.39	13d	1	0.87mi
148 W Seneca St Unit A Oswego, NY	4.0	2.0	1800	$2,400	$1.33	13d	1	0.87mi
144 W Bridge St Unit A Oswego, NY	4.0	2.0	2000	$2,400	$1.20	13d	1	0.88mi
141 W Cayuga St Oswego, NY	4.0	1.0	1311	$2,100	$1.60	13d	1	0.89mi
6 Lathrop St Oswego, NY	3.0	1.0	1100	$1,725	$1.57	13d	1	0.90mi
138 W Cayuga St Unit A Oswego, NY	4.0	2.0	2000	$2,300	$1.15	13d	1	0.90mi
136 W Cayuga St Unit A Oswego, NY	4.0	2.0	1600	$2,300	$1.44	13d	1	0.91mi
9 Lathrop St Unit A Oswego, NY	4.0	2.0	2100	$2,500	$1.19	13d	1	0.92mi
130 W Bridge St Unit A Oswego, NY	4.0	2.0	1700	$2,500	$1.47	13d	1	0.94mi
135 W Mohawk St Oswego, NY	3.0	1.0	1103	$1,700	$1.54	13d	1	0.95mi
23 NW 9th St Oswego, NY	4.0	1.5	1700	$2,300	$1.35	13d	1	1.01mi
105 W Oneida St Unit A Oswego, NY	4.0	2.0	1800	$2,540	$1.41	13d	1	1.04mi
103 W 8th St Unit A Oswego, NY	4.0	2.0	1800	$2,400	$1.33	13d	1	1.05mi
39 W 6th St Unit 2-A Oswego, NY	3.0	1.0	1500	$1,725	$1.15	13d	1	1.17mi
25 W Mohawk St Unit TH Oswego, NY	3.0	1.0	1150	$1,745	$1.52	44d	1	1.40mi

Listing history 16 events

1. 2026-06-18
   days on market $220,000 Active 22 DOM
2. 2026-06-17
   days on market $220,000 Active 21 DOM
3. 2026-06-16
   days on market $220,000 Active 20 DOM
4. 2026-06-15
   days on market $220,000 Active 19 DOM
5. 2026-06-14
   days on market $220,000 Active 17 DOM
6. 2026-06-13
   days on market $220,000 Active 16 DOM
7. 2026-06-10
   days on market $220,000 Active 14 DOM
8. 2026-06-08
   days on market $220,000 Active 12 DOM
9. 2026-06-07
   days on market $220,000 Active 11 DOM
10. 2026-06-02
    days on market $220,000 Active 6 DOM
11. 2026-06-01
    days on market $220,000 Active 5 DOM
12. 2026-05-31
    days on market $220,000 Active 4 DOM
13. 2026-05-30
    days on market $220,000 Active 3 DOM
14. 2026-05-28
    listed $220,000 Active
15. 2008-03-07
    soldstatus $118,000
16. 2006-09-13
    soldstatus $69,400

ⓘ 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: $3,932 · $328/mo
• Projected year-2 tax: $3,932 · $328/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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,832
• − Mortgage interest: −$12,323
• − Property taxes: −$3,932
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,627
• − Management: −$2,627
• − Depreciation: −$6,400
• Taxable income: $3,823
• Est. tax owed @ 24.0%: −$918
• After-tax cash flow: $6,143/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: Oswego City School District
• NCES district ID: 3622050
• Math proficiency: 39% ▼ -7.00%
• Reading proficiency: 51% ▲ 9.00%
• Median HH income: $45,835
• Composite: 38.2/100
• National rank: #4257
• State rank: #465 of 590 in NY

Livability — SUNY Oswego

• Score: 61/100
• State rank: #911
• US rank: #17822

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Oswego County · 36,495 people
• City population: 36,495
• Metro: Syracuse, NY
• Population (ZIP): 36,495
• Household income: $65,346
• Rent vs Own: 34.5% rent · 65.5% own
• Severe rent burden: 1341.0

Population outlook (Oswego County) Hauer SSP2

• Today (2025): 114,465 people
• By 2030: 109,968 · -3.9%
• By 2040: 99,205 · -13.3%
• By 2050: 87,979 · -23.1%
• By 2075: 65,100 · -43.1%
• By 2100: 47,117 · -58.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 5% Two or more races 5% Black 2% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Romanian 6% Lithuanian 4% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 3% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Oswego

• 2024 margin: Strong R (+24.2) · D 37.9% · R 62.1%
• 2008→2024 swing: -26.6pp toward R · 2008: 2.5pp · 2024: -24.2pp
• All cycles: 2024: R+24.2 2020: R+20.2 2016: R+23.2 2012: D+7.9 2008: D+2.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.25%
• Current HPI: 295.5134
• Rent YoY: ▲ 19.18%
• 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

+217.0% since first listed

3 events — show timeline

• 2026-05-28 Listed $220,000 FSBO.com
• 2008-03-07 Sold (Public Records) $118,000 Public Records
• 2006-09-13 Sold (Public Records) $69,400 Public Records

Property tax history

+10.5%/yr

Latest (2025): $3,932 · +7.3% YoY. Source: county tax records.