145 Steuben St · Syracuse, NY 13208

$215,000

5 bd · 3.0 ba · 2,311 sqft · MultiFamily public records · 38 Days on market

Built 1900 3,131 sqft lot $93/sqft · 25% above area Est $171k · 25% over

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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
• Livability +3.9/5.0
• 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: 3 units. confirmed

Listing remarks

Fabulous 3-unit investment property in the northside. House is in good shape with all units have been updated. Furnaces and hot water heaters are all in good working condition and have been replaced at some point of time when needed. There is $3261/month rental incomes. Tenants pay their own utilities. Landlord is paying water. Upstairs tenant has been there a few years and keeps up his space in tip top condition. Turn key operation and you are looking at over 15.5% of cash on cash return.

Key facts

• 3,131 sq ft lot
• Parking
• Built 1900

Property features AI

Finance

• Financial info: Gross income: $39,132; Operating expenses: $2,500 (includes insurance and water); Owner pays water; rent includes water; Unit rents: $1,350, $1,085, and $826

Exterior

• Parking: Paved on-street parking with one designated space
• Utilities: Public water connected; Sewer connected; Cable available; Circuit breaker electric
• Home design: 2-story multifamily building; Existing condition
• Construction: Shake and wood siding; Asphalt shingle roof; Stone foundation; Copper plumbing
• Exterior features: Open porch; Irregular lot near public transit on a city street

Interior

• Kitchen: Each unit includes an eat-in kitchen with oven/range and refrigerator
• Bedrooms: Two 2-bedroom units; One 1-bedroom unit
• Flooring: Luxury vinyl
• Bathrooms: Three full bathrooms (one in each unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement; Luxury vinyl flooring
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/3.0-bath units multifamily listed at $215k.

Deal economics

• At list price, monthly cash flow is $3k ($33k/yr) — positive. Per door: $915/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $215k).
• Recommended offer: $209k (3.0% below list) — sets the bar for market timing.
• Cap rate 21.6% 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; 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 $5,182/mo this rent would consume 139% 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 $23k of equity ($1k loan paydown + $22k 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 $60k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($209k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 8y 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 $40k; list at $215k implies a 438% 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 $208,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 2.41% ✓
• Cap rate: 21.61%
• Cash-on-cash: 54.70%
• DSCR: 3.43
• GRM: 3.5

CMA / ARV

• ARV (median comp): $171,367
• List price: $215,000
• Delta: 25.46%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2023 Lodi St	0.16mi	6/2.0 (+1)	2,300 (-0%)	8mo	$125,000	$54	76
1213 N State St	0.26mi	5/2.0	2,157 (-7%)	2mo	$72,000	$33	71
128 John St	0.42mi	5/2.0	2,269 (-2%)	6mo	$129,000	$57	69
1412 N State St	0.19mi	4/2.0 (-1)	2,168 (-6%)	10mo	$70,000	$32	64
115 John St	0.41mi	5/2.0	2,516 (+9%)	5mo	$120,000	$48	58
2725 Grant Blvd #27	0.58mi	6/2.0 (+1)	2,320 (+0%)	8mo	$265,500	$114	57
613-615 Highland St	0.72mi	6/2.0 (+1)	2,316 (+0%)	2mo	$140,000	$60	55
129 Spring St	0.48mi	6/3.0 (+1)	2,112 (-9%)	6mo	$211,000	$100	53
317 E Division St	0.38mi	4/2.0 (-1)	2,016 (-13%)	2mo	$119,900	$59	50
2228 - 30 Grant Blvd #30	0.68mi	6/2.0 (+1)	2,444 (+6%)	9mo	$222,000	$91	42
1417 Butternut St	0.71mi	5/3.0	2,005 (-13%)	8mo	$79,900	$40	39
1107 Butternut St	0.57mi	4/2.0 (-1)	2,002 (-13%)	9mo	$34,900	$17	35

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: 67.6%
• Equity multiple: 5.85×
• Total profit: $291,866
• Equity at exit: $193,689

10-year hold

• IRR: 61.3%
• Equity multiple: 12.99×
• Total profit: $722,043
• Equity at exit: $417,698

Cash invested: $60,200 (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: 10.4×

Monthly cashflow live

• Estimated rent: $5,182 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$133 /mo · $1,591/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,088
• Net cashflow: $2,744

Break-even live

Break-even rent $1,708

Max offer price $215,000

Occupancy floor 42%

Sensitivity live

Price	-10% $2,866	-5% $2,805	+0% $2,744	+5% $2,683	+10% $2,622
Rent	-10% $2,335	-5% $2,539	+0% $2,744	+5% $2,949	+10% $3,154
Rate	-1.0pp $2,852	-0.5pp $2,799	base $2,744	+0.5pp $2,688	+1.0pp $2,632

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	3	$5,181
Total (3 units)			$5,182

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: $53,750
• Closing costs: $6,450
• 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	1.22mi

Listing history 48 events

1. 2026-06-18
   days on market $215,000 Active 38 DOM
2. 2026-06-17
   days on market $215,000 Active 37 DOM
3. 2026-06-16
   days on market $215,000 Active 36 DOM
4. 2026-06-15
   days on market $215,000 Active 35 DOM
5. 2026-06-14
   days on market $215,000 Active 33 DOM
6. 2026-06-13
   days on market $215,000 Active 32 DOM
7. 2026-06-10
   days on market $215,000 Active 30 DOM
8. 2026-06-09
   days on market $215,000 Active 29 DOM
9. 2026-06-08
   days on market $215,000 Active 28 DOM
10. 2026-06-07
    days on market $215,000 Active 27 DOM
11. 2026-06-05
    days on market $215,000 Active 24 DOM
12. 2026-06-02
    days on market $215,000 Active 22 DOM
13. 2026-06-01
    days on market $215,000 Active 21 DOM
14. 2026-05-31
    days on market $215,000 Active 20 DOM
15. 2026-05-30
    days on market $215,000 Active 19 DOM
16. 2026-05-11
    listed $215,000 Active 494-char remark
17. 2024-12-31
    historical
18. 2024-01-24
    status Active
19. 2024-01-05
    historical Active Under Contract
20. 2023-10-25
    listed $175,000 Active
21. 2022-11-24
    historical
22. 2022-05-25
    listed $84,900 Active
23. 2022-05-13
    historical
24. 2021-09-13
    price $81,900
25. 2021-09-05
    price $82,900
26. 2021-09-01
    price $83,900
27. 2021-07-14
    status Active
28. 2021-07-04
    historical Continue to Show- Under Contract
29. 2021-06-23
    listed $84,900 Active
30. 2021-06-18
    historical
31. 2021-04-13
    status Active
32. 2021-04-04
    status Under Contract- Do Not Show
33. 2021-03-25
    historical Continue to Show- Under Contract
34. 2020-11-16
    listed $74,900 Active
35. 2020-05-27
    soldstatus $40,000
36. 2020-05-12
    soldstatus $40,000 Closed Sale or Rented
37. 2020-02-16
    status Under Contract- Do Not Show
38. 2020-02-14
    historical Continue to Show- Under Contract
39. 2020-02-07
    listed $49,500 Active
40. 2019-12-03
    historical
41. 2019-08-09
    price $55,000
42. 2019-07-30
    price $59,000
43. 2019-07-12
    listed $65,000 Active
44. 2019-01-17
    soldstatus $55,000
45. 2019-01-04
    soldstatus $55,000 Closed Sale or Rented
46. 2018-11-07
    historical Continue to Show- Under Contract
47. 2018-10-27
    listed $55,000 Active
48. 2005-09-21
    soldstatus $25,000

ⓘ 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: $1,591 · $133/mo
• Projected year-2 tax: $2,612 · $218/mo
• Expected delta: +$1,021/yr (+$85/mo · 64.2%)

ⓘ 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: $62,184
• − Mortgage interest: −$12,043
• − Property taxes: −$1,591
• − Insurance: −$1,075
• − Repairs & maintenance: −$4,975
• − Management: −$4,975
• − Depreciation: −$6,255
• Taxable income: $31,271
• Est. tax owed @ 24.0%: −$7,505
• After-tax cash flow: $25,425/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

+760.0% since first listed

33 events — show timeline

• 2026-05-11 Listed $215,000 CNYIS
• 2024-12-31 Listing Removed — CNYIS
• 2024-01-24 Relisted — CNYIS
• 2024-01-05 Contingent — CNYIS
• 2023-10-25 Listed $175,000 CNYIS
• 2022-11-24 Listing Removed — CNYIS
• 2022-05-25 Listed $84,900 CNYIS
• 2022-05-13 Listing Removed — CNYIS
• 2021-09-13 Price Changed $81,900 CNYIS
• 2021-09-05 Price Changed $82,900 CNYIS
• 2021-09-01 Price Changed $83,900 CNYIS
• 2021-07-14 Relisted — CNYIS
• 2021-07-04 Contingent — CNYIS
• 2021-06-23 Listed $84,900 CNYIS
• 2021-06-18 Listing Removed — CNYIS
• 2021-04-13 Relisted — CNYIS
• 2021-04-04 Pending — CNYIS
• 2021-03-25 Contingent — CNYIS
• 2020-11-16 Listed $74,900 CNYIS
• 2020-05-27 Sold (Public Records) $40,000 Public Records
• 2020-05-12 Sold (MLS) $40,000 CNYIS
• 2020-02-16 Pending — CNYIS
• 2020-02-14 Contingent — CNYIS
• 2020-02-07 Listed $49,500 CNYIS
• 2019-12-03 Listing Removed — CNYIS
• 2019-08-09 Price Changed $55,000 CNYIS
• 2019-07-30 Price Changed $59,000 CNYIS
• 2019-07-12 Listed $65,000 CNYIS
• 2019-01-17 Sold (Public Records) $55,000 Public Records
• 2019-01-04 Sold (MLS) $55,000 CNYIS
• 2018-11-07 Contingent — CNYIS
• 2018-10-27 Listed $55,000 CNYIS
• 2005-09-21 Sold (Public Records) $25,000 Public Records

Property tax history

+0.2%/yr

Latest (2025): $1,591 · +1.8% YoY. Source: county tax records.