1110 Butternut St · Syracuse, NY 13208

$190,000

5 bd · 2.0 ba · 3,653 sqft · SingleFamily · 90 Days on market

Built 1925 Fair condition 6,534 sqft lot $52/sqft · 60% below area

---

Why this score? — see what drove the C 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 +20.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• 1% rule +5.3/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.8/10.0

Listing remarks MLS

Fantastic opportunity for entrepreneurs and investors alike! This mixed-use property offers a commercial storefront along with two residential rental units, making it an excellent option for both business operation and income generation. The street-level commercial space is well suited for a specialty shop, convenience store, or neighborhood market serving the surrounding community. In addition to the commercial space, the property includes two residential units that are currently occupied and producing immediate rental income. The upstairs unit features a spacious 4-bedroom, 1-bath layout and is currently rented for $800 per month on a month-to-month lease. The downstairs unit offers 1 bedroom and 1 bathroom, currently rented for $600 per month, also on a month-to-month lease. Rental receipts will be made available to qualified buyers upon submission of a suitable offer. Bring your business vision and take advantage of this versatile income-producing property. Schedule your showing today! NOTE: Commercial space is available for immediate viewing, but apartments require a 24 hr notice before they can be viewed.

Key facts

• Mixed-use property
• 6,534 sq ft lot
• Parking

Tags

• MIXED-USE PROPERTY
• COMMERCIAL STOREFRONT
• RESIDENTIAL RENTAL UNITS
• STREET-LEVEL COMMERCIAL SPACE
• IMMEDIATE RENTAL INCOME

🏷️ Possibly a rental listed for sale. The $190,000 price doesn't fit this home's estimated sale value (~$474,526) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $190k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $232 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $179k (6.0% below list) — sets the bar for market timing.

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: 100 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 $1,955/mo this rent would consume 52% 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 $20k of equity ($1k loan paydown + $19k 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 $53k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($179k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $178,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.03% ✓
• Cap rate: 7.76%
• Cash-on-cash: 5.23%
• DSCR: 1.23
• GRM: 8.1

CMA / ARV

• ARV (median comp): $474,526
• List price: $190,000
• Delta: -59.96%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
210 Sedgwick Dr	0.67mi	5/4.0	3,491 (-4%)	4mo	$250,000	$72	50
310 Sedgwick Dr	0.63mi	6/3.5 (+1)	3,864 (+6%)	2mo	$440,000	$114	48
620 Court St	0.74mi	5/2.0	3,352 (-8%)	11mo	$181,000	$54	42
505 Sedgwick Dr	0.52mi	4/4.5 (-1)	3,707 (+2%)	22mo	$439,900	$119	40
100 Sedgwick Rd	0.57mi	4/3.5 (-1)	3,386 (-7%)	22mo	$400,000	$118	32
506 Dewitt St	0.47mi	4/2.5 (-1)	3,113 (-15%)	21mo	$180,000	$58	29
307 Highland Ave	0.50mi	6/3.5 (+1)	3,108 (-15%)	22mo	$401,000	$129	22

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: 28.1%
• Equity multiple: 3.22×
• Total profit: $118,270
• Equity at exit: $171,167

10-year hold

• IRR: 24.5%
• Equity multiple: 7.33×
• Total profit: $336,737
• Equity at exit: $369,128

Cash invested: $53,200 (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: 100
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,955 medium
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$238 /mo · $2,850/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $232

Break-even live

Break-even rent $1,662

Max offer price $190,000

Occupancy floor 83%

Sensitivity live

Price	-10% $363	-5% $297	+0% $232	+5% $166	+10% $100
Rent	-10% $77	-5% $155	+0% $232	+5% $309	+10% $386
Rate	-1.0pp $327	-0.5pp $280	base $232	+0.5pp $183	+1.0pp $132

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
315 Boyden St Syracuse, NY	4.0	2.0	4356	$2,000	$0.46	45d	1	1.03mi

Listing history 16 events

1. 2026-06-18
   days on market $190,000 Active 90 DOM
2. 2026-06-17
   days on market $190,000 Active 89 DOM
3. 2026-06-16
   days on market $190,000 Active 88 DOM
4. 2026-06-15
   days on market $190,000 Active 87 DOM
5. 2026-06-14
   days on market $190,000 Active 85 DOM
6. 2026-06-13
   days on market $190,000 Active 84 DOM
7. 2026-06-10
   days on market $190,000 Active 82 DOM
8. 2026-06-09
   days on market $190,000 Active 81 DOM
9. 2026-06-08
   days on market $190,000 Active 80 DOM
10. 2026-06-07
    days on market $190,000 Active 79 DOM
11. 2026-06-05
    days on market $190,000 Active 76 DOM
12. 2026-06-02
    days on market $190,000 Active 74 DOM
13. 2026-06-01
    days on market $190,000 Active 73 DOM
14. 2026-05-31
    days on market $190,000 Active 72 DOM
15. 2026-05-30
    days on market $190,000 Active 71 DOM
16. 2026-03-20
    listed $190,000 Active 1131-char remark

    Show marketing remark (1131 chars)

    Fantastic opportunity for entrepreneurs and investors alike! This mixed-use property offers a commercial storefront along with two residential rental units, making it an excellent option for both business operation and income generation. The street-level commercial space is well suited for a specialty shop, convenience store, or neighborhood market serving the surrounding community. In addition to the commercial space, the property includes two residential units that are currently occupied and producing immediate rental income. The upstairs unit features a spacious 4-bedroom, 1-bath layout and is currently rented for $800 per month on a month-to-month lease. The downstairs unit offers 1 bedroom and 1 bathroom, currently rented for $600 per month, also on a month-to-month lease. Rental receipts will be made available to qualified buyers upon submission of a suitable offer. Bring your business vision and take advantage of this versatile income-producing property. Schedule your showing today! NOTE: Commercial space is available for immediate viewing, but apartments require a 24 hr notice before they can be viewed.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 24% 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: $23,466
• − Mortgage interest: −$10,643
• − Property taxes: −$2,850
• − Insurance: −$950
• − Repairs & maintenance: −$1,877
• − Management: −$1,877
• − Depreciation: −$5,527
• Taxable loss: −$259
• Est. tax savings @ 24.0%: +$62
• After-tax cash flow: $2,843/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.

Condition & rehab AI · 1 photo

Fair 45/100 Moderate rehab

This mixed-use property requires significant repairs and updates to improve its condition and value. Immediate attention to the exterior, roof, and HVAC is recommended.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major roof — No visible damage, but age is implied
• Major flooring — No visible flooring, but age is implied
• Major interior walls/paint — No visible interior, but age is implied
• Major windows — No visible windows, but age is implied
• Major foundation/structure — No visible foundation, but age is implied
• Major HVAC/mechanicals — No visible HVAC, but age is implied
• Major landscaping — No visible landscaping, but age is implied

Value-add opportunities

• Both exterior paint — Enhances curb appeal and value
• Both roof repair — Improves structural integrity and value
• Both flooring replacement — Enhances living space and value
• Both HVAC upgrade — Improves comfort and energy efficiency
• Both landscaping — Enhances curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
roof · No visible damage, but age is implied	Major	$15,000–50,000
flooring · No visible flooring, but age is implied	Major	$15,000–50,000
interior walls/paint · No visible interior, but age is implied	Major	$15,000–50,000
windows · No visible windows, but age is implied	Major	$15,000–50,000
foundation/structure · No visible foundation, but age is implied	Major	$15,000–50,000
HVAC/mechanicals · No visible HVAC, but age is implied	Major	$15,000–50,000
landscaping · No visible landscaping, but age is implied	Major	$15,000–50,000
Total estimated repair cost · 8 items		$120,000–400,000

Value-add ROI direction

• Both exterior paint — Enhances curb appeal and value ↑
• Both roof repair — Improves structural integrity and value ↑
• Both flooring replacement — Enhances living space and value ↑
• Both HVAC upgrade — Improves comfort and energy efficiency ↑
• Both landscaping — Enhances curb appeal and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

1 event — show timeline

• 2026-03-20 Listed $190,000 CNYIS