298 Norwood Ave · Syracuse, NY 13206

$154,800

3 bd · 1.5 ba · 1,512 sqft · SingleFamily public records · 14 Days on market

Built 1945 4,200 sqft lot Est $204k · 24% under

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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 +28.2/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +6.8/10.0
• Rent growth +4.0/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks

Charming Eastwood colonial with spacious living room, formal dining room, updated kitchen with granite countertops and lots of cabinets, enclosed front porch to enjoy your morning coffee, two 1st floor bedrooms and full bathroom, hardwoods throughout, 2nd floor has 2 more large bedrooms, full bathroom, and large walk-in closet that used to be a kitchenette, lots of built-ins and character, central AC, laundry and plenty of storage in basement 1 car garage, corner lot for extra privacy.

Key facts

• Plenty of storage
• Updated kitchen
• Large walk-in closet

Tags

• SPACIOUS LIVING ROOM
• UPDATED KITCHEN
• GRANITE COUNTERTOPS
• ENCLOSED FRONT PORCH
• LARGE WALK-IN CLOSET
• PLENTY OF STORAGE

Property features AI

Exterior

• Parking: Detached garage; 1 garage space
• Utilities: Public water connected; Sewer connected; Electricity connected; High-speed internet available; Cable available
• Home design: 2-story house; Existing (previously built) property
• Construction: Vinyl siding; Block foundation
• Exterior features: Enclosed porch; Open porch; Blacktop driveway; Corner lot; Near public transit; Rectangular residential lot; City street frontage; Lot dimensions approximately 40 x 105

Interior

• Kitchen: Gas oven and gas range; Range hood; Dishwasher; Garbage disposal; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Hardwood; Laminate; Varies
• Bathrooms: 2 full bathrooms total; 1 bathroom on the main level
• Heating & cooling: Gas forced-air heating; Central air conditioning; Circuit breaker electric panel
• Interior features: Ceiling fans; Separate formal living room; Separate formal dining room; Living/dining room; Granite counters; Solid surface counters; Natural woodwork; Window treatments / drapes; Bedroom on main level; Total of 10 rooms; Full basement
• Laundry & utility: Washer and dryer; Laundry located in the basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $492 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Cap rate 10.1% vs local median 8.2% in Syracuse — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Rents rising fast (+5.8%/yr); 42 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• This rent runs 35% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Onondaga County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 5.8% rent growth), your $43k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $154,800

Questions for the listing agent

1. Built in 1945 — 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. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.18% ✓
• Cap rate: 10.11%
• Cash-on-cash: 13.62%
• DSCR: 1.61
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $204,120
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
337 Lillian Ave	0.14mi	3/1.5	1,436 (-5%)	3mo	$100,000	$70	83
305 Ashdale Ave	0.04mi	2/1.0 (-1)	1,361 (-10%)	2mo	$210,000	$154	73
140 Hillsdale Ave	0.41mi	3/1.0	1,540 (+2%)	7mo	$195,000	$127	70
206 Lillian Ave	0.25mi	4/2.0 (+1)	1,448 (-4%)	5mo	$176,800	$122	70
125 Paul Ave	0.62mi	4/1.5 (+1)	1,527 (+1%)	1mo	$210,000	$138	64
241 N Edwards Ave	0.17mi	3/1.0	1,296 (-14%)	6mo	$175,000	$135	61
215 Tower Ave	0.53mi	3/1.0	1,416 (-6%)	3mo	$241,500	$171	60
204 Woodbury Ave	0.71mi	3/2.5	1,512 (0%)	7mo	$251,000	$166	57
158 Norwood Ave	0.20mi	4/1.0 (+1)	1,292 (-15%)	3mo	$200,000	$155	57
136 S Collingwood Ave	0.41mi	4/1.0 (+1)	1,344 (-11%)	3mo	$60,236	$45	53
354 Noble Ave	0.56mi	3/2.0	1,680 (+11%)	3mo	$190,000	$113	51
135 Plymouth Dr	0.62mi	3/1.5	1,671 (+10%)	4mo	$188,000	$113	50

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 5.85% rent growth · sell at horizon

5-year hold

• IRR: 6.6%
• Equity multiple: 1.27×
• Total profit: $11,573
• Equity at exit: $23,081

10-year hold

• IRR: 18.2%
• Equity multiple: 2.70×
• Total profit: $73,588
• Equity at exit: $13,384

Cash invested: $43,344 (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 13206

• Home prices YoY: -7.1%
• Rents YoY: 5.8%
• Active inventory: 42
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,820 high
• Mortgage (P&I): −$812
• Tax from tax record: −$70 /mo · $835/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$382
• Net cashflow: $492

Break-even live

Break-even rent $1,197

Max offer price $154,800

Occupancy floor 68%

Sensitivity live

Price	-10% $580	-5% $536	+0% $492	+5% $448	+10% $404
Rent	-10% $348	-5% $420	+0% $492	+5% $564	+10% $636
Rate	-1.0pp $570	-0.5pp $531	base $492	+0.5pp $452	+1.0pp $411

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: $38,700
• Closing costs: $4,644
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
297 Norwood Ave Syracuse, NY	3.0	1.0	1188	$2,050	$1.73	22d	1	0.02mi
417 Hazelhurst Ave Syracuse, NY	2.0	1.0	1536	$1,250	$0.81	22d	1	0.31mi
202 Stafford Ave Syracuse, NY	3.0	1.0	1692	$1,800	$1.06	14d	1	0.51mi
1801 James St #2 Syracuse, NY	3.0	1.0	1244	$1,800	$1.45	14d	1	0.77mi
204 Mariposa St Unit pvt house Syracuse, NY	3.0	1.0	1128	$2,137	$1.89	14d	1	0.89mi
1618 James St #3 Syracuse, NY	2.0	1.0	1150	$2,200	$1.91	14d	1	1.00mi
423 Wendell Ter Syracuse, NY	4.0	1.0	1312	$2,500	$1.91	14d	1	1.04mi
112 Gale Ave Unit 1 Syracuse, NY	2.0	1.0	1848	$1,400	$0.76	44d	1	1.14mi
126 Woodruff Ave Syracuse, NY	3.0	1.0	1200	$1,675	$1.40	44d	1	1.41mi

Listing history 3 events

1. 2026-04-21
   status Pending
2. 2026-04-11
   historical Active Under Contract
3. 2026-04-07
   listed $154,800 Active

ⓘ 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: $835 · $70/mo
• Projected year-2 tax: $1,725 · $144/mo
• Expected delta: +$891/yr (+$74/mo · 106.7%)

ⓘ 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 · 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: $21,841
• − Mortgage interest: −$8,671
• − Property taxes: −$835
• − Insurance: −$774
• − Repairs & maintenance: −$1,747
• − Management: −$1,747
• − Depreciation: −$4,503
• Taxable income: $3,564
• Est. tax owed @ 24.0%: −$855
• After-tax cash flow: $5,049/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): 16,245
• Household income: $63,136
• Rent vs Own: 42.5% rent · 57.5% own
• Severe rent burden: 725.0

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: Predominantly White (67%)
• Race & ethnicity: White 67% Black 13% Two or more races 9% Hispanic / Latino 8% Asian 5%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 6% Lithuanian 4% Slovak 2%
• Foreign-born: 8% · Canada, Jamaica, China
• Languages at home: 89% English-only · Spanish 3% Arabic 2% Other Indo-European 1%

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: ▼ -24.60%
• Current HPI: 322.231
• Rent YoY: ▲ 5.85%
• 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

3 events — show timeline

• 2026-04-21 Pending — CNYIS
• 2026-04-11 Contingent — CNYIS
• 2026-04-07 Listed $154,800 CNYIS

Property tax history

+0.1%/yr

Latest (2025): $835 · +0.0% YoY. Source: county tax records.