310 2nd St · Syracuse, NY 13209

$134,900

3 bd · 2.0 ba · 1,370 sqft · MultiFamily public records · 86 Days on market

Built 1900 4,000 sqft lot $98/sqft · 20% below area Est $170k · 20% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +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
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Come view this very nice 2 family house in a desirable neighborhood of Solvay. First floor features a 2 bedrooms apt, with living room and kitchen with dining area. Second floor has a 1 bedroom, living room and eat-in kitchen. Pretty large driveway and backyard, plenty of parking spaces! Brand New Roof was installed late 2025

Key facts

• 4,000 sq ft lot
• 2 garage spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $135k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $696/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $135k).
• Recommended offer: $127k (6.0% below list) — sets the bar for market timing.
• Cap rate 18.7% 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: 59 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 72% of comp listings sitting > 30 days — soft ceiling on asking rent; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• At $3,220/mo this rent would consume 57% of the median local household income ($68k/yr) (locally 210% 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 (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k 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 + 3.0% rent growth), your $38k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 7y 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 $63k; list at $135k implies a 114% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $126,806 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 2.39% ✓
• Cap rate: 18.67%
• Cash-on-cash: 44.22%
• DSCR: 2.97
• GRM: 3.5

CMA / ARV

• ARV (median comp): $169,548
• List price: $134,900
• Delta: -20.44%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
111 6th North St	0.45mi	2/2.0 (-1)	1,261 (-8%)	5mo	$156,000	$124	57
806 1st North St	0.33mi	4/2.0 (+1)	1,446 (+6%)	20mo	$120,000	$83	54
204 Hillside St	0.68mi	4/2.0 (+1)	1,548 (+13%)	4mo	$124,900	$81	38

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 41.3%
• Equity multiple: 2.77×
• Total profit: $66,977
• Equity at exit: $20,114

10-year hold

• IRR: 47.5%
• Equity multiple: 5.59×
• Total profit: $173,222
• Equity at exit: $11,664

Cash invested: $37,772 (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 13209

• Home prices YoY: -7.7%
• Active inventory: 59
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $3,220 medium
• Mortgage (P&I): −$707
• Tax from tax record: −$388 /mo · $4,659/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$676
• Net cashflow: $1,392

Break-even live

Break-even rent $1,458

Max offer price $134,900

Occupancy floor 52%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,220
Total (2 units)			$3,220

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
286 Ross Park Syracuse, NY	3.0	1.0	1100	$1,500	$1.36	44d	1	0.47mi
1132 Wolf St Unit 4 Syracuse, NY	3.0	1.0	1041	$1,350	$1.30	43d	1	0.51mi
1507 N Salina St Unit 3 Syracuse, NY	3.0	2.0	1030	$1,350	$1.31	43d	1	0.54mi
912 Park St Unit 1 Syracuse, NY	3.0	1.0	1040	$1,200	$1.15	43d	1	0.74mi
807-13 N Salina St Unit 809A Syracuse, NY	2.0	1.0	1020	$1,325	$1.30	43d	1	0.84mi
610 E Division St Unit F2 Syracuse, NY	2.0	1.0	900	$1,150	$1.28	43d	1	0.86mi
126 Woodruff Ave Syracuse, NY	3.0	1.0	1200	$1,675	$1.40	43d	1	0.95mi
721 N Clinton St Unit 105 Syracuse, NY	2.0	2.0	1000	$1,475	$1.48	43d	1	0.97mi
721 N Clinton St Unit 213 Syracuse, NY	2.0	2.0	1000	$1,550	$1.55	43d	1	0.97mi
210 W Division St Unit 24 Syracuse, NY	2.0	2.0	1200	$1,850	$1.54	21d	1	1.00mi
210 W Division St Unit 87 Syracuse, NY	2.0	2.0	1200	$1,750	$1.46	43d	1	1.02mi
746 E Laurel St Unit 1 Syracuse, NY	4.0	2.0	1400	$1,500	$1.07	43d	1	1.07mi
100 Buckley Rd Liverpool, NY	1.0–2.0	1.0–2.0	985	$3,850	$3.91	13d	1	1.12mi
373 Spencer St Unit 303 Syracuse, NY	2.0	1.5	1085	$1,850	$1.71	43d	1	1.17mi
423 Wendell Ter Syracuse, NY	4.0	1.0	1312	$2,500	$1.91	13d	1	1.28mi
416 Pearl St Unit 2 Syracuse, NY	3.0	1.0	900	$2,400	$2.67	13d	1	1.36mi
106 Harrington St Syracuse, NY	3.0	1.0	1168	$1,875	$1.61	43d	1	1.36mi
130 Old Liverpool Rd Liverpool, NY	4.0	1.0	1100	$1,700	$1.55	13d	1	1.39mi

Listing history 29 events

1. 2026-06-16
   status $134,900 Pending 86 DOM
2. 2026-06-16
   days on market $134,900 Active 86 DOM
3. 2026-06-15
   days on market $134,900 Active 85 DOM
4. 2026-06-14
   days on market $134,900 Active 83 DOM
5. 2026-06-13
   days on market $134,900 Active 82 DOM
6. 2026-06-10
   days on market $134,900 Active 80 DOM
7. 2026-06-09
   days on market $134,900 Active 79 DOM
8. 2026-06-08
   days on market $134,900 Active 78 DOM
9. 2026-06-07
   days on market $134,900 Active 77 DOM
10. 2026-06-05
    days on market $134,900 Active 74 DOM
11. 2026-06-02
    days on market $134,900 Active 72 DOM
12. 2026-06-01
    days on market $134,900 Active 71 DOM
13. 2026-05-31
    days on market $134,900 Active 70 DOM
14. 2026-05-30
    days on market $134,900 Active 69 DOM
15. 2026-03-22
    listed $134,900 Active 328-char remark

    Show marketing remark (328 chars)

    Come view this very nice 2 family house in a desirable neighborhood of Solvay. First floor features a 2 bedrooms apt, with living room and kitchen with dining area. Second floor has a 1 bedroom, living room and eat-in kitchen. Pretty large driveway and backyard, plenty of parking spaces! Brand New Roof was installed late 2025

16. 2026-03-08
    historical
17. 2025-11-03
    historical Active Under Contract
18. 2025-10-16
    listed $134,900 Active
19. 2025-04-29
    historical
20. 2025-01-08
    price $139,900
21. 2024-12-02
    status Active
22. 2024-11-25
    price $144,900
23. 2024-10-15
    listed $150,000 Active
24. 2019-06-06
    soldstatus $63,000 Closed Sale or Rented
25. 2019-06-04
    soldstatus $63,000
26. 2019-05-03
    status Pending Sale
27. 2019-04-19
    status Under Contract- Do Not Show
28. 2019-04-10
    listed $69,900 Active
29. 2013-05-13
    soldstatus $39,000

ⓘ 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: $4,659 · $388/mo
• Projected year-2 tax: $4,659 · $388/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 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: $38,640
• − Mortgage interest: −$7,556
• − Property taxes: −$4,659
• − Insurance: −$674
• − Repairs & maintenance: −$3,091
• − Management: −$3,091
• − Depreciation: −$3,924
• Taxable income: $15,643
• Est. tax owed @ 24.0%: −$3,754
• After-tax cash flow: $12,949/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): 12,714
• Household income: $68,138
• Rent vs Own: 29.6% rent · 70.4% own
• Severe rent burden: 210.0

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 (86%)
• Race & ethnicity: White 86% Two or more races 6% Hispanic / Latino 6% Black 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Romanian 11% Subsaharan African 6% Lithuanian 2%
• Foreign-born: 11% · Canada, China
• Languages at home: 87% English-only · Russian/Polish/Slavic 5% Spanish 3% Arabic 2%

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: ▼ -27.23%
• Current HPI: 326.7671
• 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

+245.9% since first listed

15 events — show timeline

• 2026-03-22 Listed $134,900 CNYIS
• 2026-03-08 Listing Removed — CNYIS
• 2025-11-03 Contingent — CNYIS
• 2025-10-16 Listed $134,900 CNYIS
• 2025-04-29 Listing Removed — CNYIS
• 2025-01-08 Price Changed $139,900 CNYIS
• 2024-12-02 Relisted — CNYIS
• 2024-11-25 Price Changed $144,900 CNYIS
• 2024-10-15 Listed $150,000 CNYIS
• 2019-06-06 Sold (MLS) $63,000 CNYIS
• 2019-06-04 Sold (Public Records) $63,000 Public Records
• 2019-05-03 Pending — CNYIS
• 2019-04-19 Pending — CNYIS
• 2019-04-10 Listed $69,900 CNYIS
• 2013-05-13 Sold (Public Records) $39,000 Public Records

Property tax history

+2.0%/yr

Latest (2025): $4,659 · +11.0% YoY. Source: county tax records.