900 Danforth St · Syracuse, NY 13208

$499,900

121 bd · None ba · 7,966 sqft · MultiFamily public records · 12 Days on market

Built 1940 6,600 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

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 11 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Excellent opportunity to acquire an 11-unit multifamily property located at the corner of Danforth St & N Alvord St. This income-producing asset consists entirely of one-bedroom units and currently generates close to $100,000 annually in gross rental income with opportunity for much more. The owner has made significant improvements, including a new roof installed in 2025 and renovations in 9 of the 11 units. All 9 renovated units are currently occupied, providing immediate cash flow while still offering additional upside potential for investors looking to further increase value and maximize returns. There is excellent opportunity to increase monthly income by bringing all 11 units to

Key facts

• 6,600 sq ft lot
• Garage
• Built 1940

Tags

• 11 UNIT MULTIFAMILY PROPERTY
• NEW ROOF INSTALLED IN 2025
• RENOVATIONS IN 9 UNITS

Property features AI

Finance

• Other: 11 total units; 11 separate electric meters; 1 separate gas meter
• Financial info: Operating expenses include insurance and water/sewer; Owner pays grounds care, snow removal, and water; Rent includes common area maintenance, snow removal, and water

Exterior

• Parking: Garage (1 car); Three or more off-street spaces
• Utilities: Public water (connected); Sewer connected
• Home design: 3-story building; Resale property; Corner lot; Near public transit; Rectangular lot
• Construction: Aluminum siding; Asphalt roof; Built existing (year not specified)
• Exterior features: Blacktop driveway; Open porch

Interior

• Kitchen: Electric oven; Electric range; Refrigerator
• Flooring: Hardwood; Varies; Vinyl
• Heating & cooling: Electric heating; Gas heating; Baseboard heating
• Interior features: Full basement; Hardwood and vinyl flooring (varies)
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 11 × 1-bed/1-bath units multifamily listed at $500k.

Deal economics

• At list price, monthly cash flow is $6k ($68k/yr) — positive. Per door: $515/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $500k).
• Cap rate 19.9% 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; lower-income renter base — watch delinquency; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• At $11,443/mo this rent would consume 307% 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 $53k of equity ($3k loan paydown + $50k 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 $140k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$86k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $190k; list at $500k implies a 163% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $499,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.29% ✓
• Cap rate: 19.89%
• Cash-on-cash: 48.58%
• DSCR: 3.16
• GRM: 3.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 62.4%
• Equity multiple: 5.52×
• Total profit: $633,258
• Equity at exit: $450,350

10-year hold

• IRR: 55.9%
• Equity multiple: 12.30×
• Total profit: $1,581,294
• Equity at exit: $971,196

Cash invested: $139,972 (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: 40.0×

Monthly cashflow live

• Estimated rent: $11,443 high
• Mortgage (P&I): −$2,622
• Tax from tax record: −$544 /mo · $6,529/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,403
• Net cashflow: $5,666

Break-even live

Break-even rent $4,271

Max offer price $499,900

Occupancy floor 45%

Sensitivity live

Price	-10% $5,949	-5% $5,808	+0% $5,666	+5% $5,525	+10% $5,383
Rent	-10% $4,762	-5% $5,214	+0% $5,666	+5% $6,118	+10% $6,570
Rate	-1.0pp $5,918	-0.5pp $5,793	base $5,666	+0.5pp $5,537	+1.0pp $5,405

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

Units	Beds	Baths	Est. rent
▸ 11× units	1	1	$11,440
Total (11 units)			$11,443

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: $124,975
• Closing costs: $14,997
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-08
   days on market $499,900 Active 12 DOM
2. 2026-06-07
   days on market $499,900 Active 11 DOM
3. 2026-06-05
   days on market $499,900 Active 8 DOM
4. 2026-06-02
   days on market $499,900 Active 6 DOM
5. 2026-06-01
   days on market $499,900 Active 5 DOM
6. 2026-05-31
   days on market $499,900 Active 4 DOM
7. 2026-05-30
   days on market $499,900 Active 3 DOM
8. 2026-05-27
   listed $499,900 Active
9. 2005-02-03
   soldstatus $190,000

ⓘ 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: $6,529 · $544/mo
• Projected year-2 tax: $7,489 · $624/mo
• Expected delta: +$960/yr (+$80/mo · 14.7%)

ⓘ 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 · 15 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: $137,316
• − Mortgage interest: −$28,002
• − Property taxes: −$6,529
• − Insurance: −$2,500
• − Repairs & maintenance: −$10,985
• − Management: −$10,985
• − Depreciation: −$14,543
• Taxable income: $63,772
• Est. tax owed @ 24.0%: −$15,305
• After-tax cash flow: $52,688/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

+163.1% since first listed

2 events — show timeline

• 2026-05-27 Listed $499,900 CNYIS
• 2005-02-03 Sold (Public Records) $190,000 Public Records

Property tax history

+1.6%/yr

Latest (2025): $6,529 · +0.0% YoY. Source: county tax records.