115 S Alvord St · Syracuse, NY 13203

$65,000

2 bd · 1.0 ba · 1,350 sqft · SingleFamily public records · 73 Days on market

Built 1900 2,675 sqft lot $48/sqft · 33% below area Est $97k · 33% 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
• Rent growth +4.6/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 115 S Alvord St, Syracuse, NY 13203 — a turnkey, cash-flowing rental property offering stability, strong payment history, and minimal landlord expense. Property Highlights: 2 Bedrooms | 2 Full Bathrooms Long-term tenant in place Current rent: $1,350 per month Section 8 pays 100% of the rent Tenant pays gas & electric Low property taxes Strong rental history This property provides dependable, government-backed rental income, making it an ideal addition to any investor’s Portfolio — whether you’re scaling locally or adding a stable Syracuse asset to a larger portfolio.

Key facts

• 2,675 sq ft lot
• Built 1900
• Listed 73 days

🏷️ Possibly a rental listed for sale. The $65,000 price doesn't fit this home's estimated sale value (~$97,353) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $930 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $61k (6.0% below list) — sets the bar for market timing.
• Cap rate 23.5% 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: Rents rising fast (+8.4%/yr); 55 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% of comp listings sitting > 30 days — soft ceiling on asking rent; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• This rent runs 44% of the median local income ($47k/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 $449 of loan paydown is wiped out by about $2k 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 + 8.0% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $61,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 2.65% ✓
• Cap rate: 23.47%
• Cash-on-cash: 61.35%
• DSCR: 3.73
• GRM: 3.1

CMA / ARV

• ARV (median comp): $97,353
• List price: $65,000
• Delta: -33.23%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
611 Highland St	0.10mi	3/1.0 (+1)	1,302 (-4%)	7mo	$95,000	$73	78
200 Helen St	0.48mi	2/1.5	1,329 (-2%)	5mo	$175,100	$132	69
321 Dewitt St	0.48mi	3/1.5 (+1)	1,310 (-3%)	6mo	$175,000	$134	61
310 Helen St	0.55mi	2/1.5	1,274 (-6%)	4mo	$191,000	$150	59
206 Mary St	0.44mi	3/1.0 (+1)	1,424 (+6%)	9mo	$80,000	$56	58
206 Sedgwick St	0.68mi	3/2.0 (+1)	1,368 (+1%)	1mo	$80,000	$58	56
309 Helen St	0.53mi	3/1.0 (+1)	1,284 (-5%)	10mo	$201,000	$157	54
231 Grumbach Ave	0.38mi	3/1.0 (+1)	1,152 (-15%)	0mo	$75,000	$65	53
117 Lawrence St	0.73mi	3/1.0 (+1)	1,416 (+5%)	6mo	$90,000	$64	48
215 Cleveland Ave	0.68mi	3/1.0 (+1)	1,440 (+7%)	8mo	$159,000	$110	45
108 High St	0.74mi	3/1.0 (+1)	1,276 (-6%)	8mo	$175,000	$137	44
109 Wilkie Pl	0.65mi	3/1.0 (+1)	1,214 (-10%)	10mo	$165,000	$136	39

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 65.7%
• Equity multiple: 4.18×
• Total profit: $57,857
• Equity at exit: $9,692

10-year hold

• IRR: 71.6%
• Equity multiple: 10.24×
• Total profit: $168,230
• Equity at exit: $5,620

Cash invested: $18,200 (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 13203

• Home prices YoY: -11.9%
• Rents YoY: 8.4%
• Active inventory: 55
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,724 high
• Mortgage (P&I): −$341
• Tax from tax record: −$64 /mo · $767/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $930

Break-even live

Break-even rent $547

Max offer price $65,000

Occupancy floor 41%

Sensitivity live

Price	-10% $967	-5% $949	+0% $930	+5% $912	+10% $894
Rent	-10% $794	-5% $862	+0% $930	+5% $999	+10% $1,067
Rate	-1.0pp $963	-0.5pp $947	base $930	+0.5pp $914	+1.0pp $896

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
610 E Division St Unit F2 Syracuse, NY	2.0	1.0	900	$1,150	$1.28	44d	1	0.34mi
912 Park St Unit 1 Syracuse, NY	3.0	1.0	1040	$1,200	$1.15	44d	1	0.35mi
205A Hawley Ave Unit 213C Syracuse, NY	3.0	2.5	1350	$1,650	$1.22	44d	1	0.52mi
205A Hawley Ave Unit 211C Syracuse, NY	3.0	2.5	1350	$1,675	$1.24	44d	1	0.52mi
807-13 N Salina St Unit 809A Syracuse, NY	2.0	1.0	1020	$1,325	$1.30	44d	1	0.59mi
416 Pearl St Unit 2 Syracuse, NY	3.0	1.0	900	$2,400	$2.67	14d	1	0.60mi
126 Woodruff Ave Syracuse, NY	3.0	1.0	1200	$1,675	$1.40	44d	1	0.63mi
525 Burnet Ave Unit First Floor Syracuse, NY	3.0	1.0	900	$1,650	$1.83	44d	1	0.65mi
689 N Clinton St Apt 307 Syracuse, NY	1.0	1.5	1100	$1,600	$1.45	44d	1	0.72mi
689 N Clinton St Unit 323 Syracuse, NY	1.0	1.5	960	$1,575	$1.64	21d	1	0.72mi
210 W Division St Unit 24 Syracuse, NY	2.0	2.0	1200	$1,850	$1.54	21d	1	0.76mi
210 W Division St Unit 87 Syracuse, NY	2.0	2.0	1200	$1,750	$1.46	44d	1	0.76mi
721 N Clinton St Unit 213 Syracuse, NY	2.0	2.0	1000	$1,550	$1.55	44d	1	0.77mi
721 N Clinton St Unit 105 Syracuse, NY	2.0	2.0	1000	$1,475	$1.48	44d	1	0.77mi
230 W Willow St Apt 310 Syracuse, NY	1.0	1.0	933	$1,600	$1.71	14d	1	0.79mi
208 W Water St Syracuse, NY	2.0	2.0	962	$1,800	$1.87	44d	1	0.92mi
900 E Fayette St Syracuse, NY	1.0–2.0	1.0	817	$1,995	$2.44	14d	9	0.92mi
1618 James St #3 Syracuse, NY	2.0	1.0	1150	$2,200	$1.91	14d	1	0.93mi
300 University Ave Syracuse, NY	2.0	1.0	1020	$2,150	$2.11	14d	1	0.98mi
319 S Salina St Syracuse, NY	2.0	2.0	1860	$2,000	$1.08	21d	1	1.00mi
321 S Salina St Unit 403 Syracuse, NY	1.0	1.0	978	$1,750	$1.79	21d	1	1.00mi
373 Spencer St Unit 303 Syracuse, NY	2.0	1.5	1085	$1,850	$1.71	44d	1	1.00mi
321 S Salina St Unit 201 Syracuse, NY	2.0	1.0	1446	$2,450	$1.69	44d	1	1.00mi
321 S Salina St Unit 501 Syracuse, NY	2.0	1.0	1446	$3,000	$2.07	44d	1	1.00mi
321 S Salina St Unit 402 Syracuse, NY	1.0	1.0	1050	$2,200	$2.10	14d	1	1.00mi
321 S Salina St Unit 502 Syracuse, NY	1.0	1.0	1050	$2,500	$2.38	44d	1	1.00mi
321 S Salina St Unit 303 Syracuse, NY	1.0	1.0	978	$1,800	$1.84	44d	1	1.00mi
321 S Salina St Unit 203 Syracuse, NY	1.0	1.0	1236	$2,000	$1.62	21d	1	1.00mi
129 W Fayette St Unit 217 Syracuse, NY	2.0	2.0	1100	$1,550	$1.41	14d	1	1.01mi
324 W Water St Unit 106 Syracuse, NY	2.0	1.0	1436	$2,095	$1.46	21d	1	1.01mi
324 W Water St Syracuse, NY	2.0	1.0	1007	$1,975	$1.96	14d	6	1.01mi
201 E Jefferson St Syracuse, NY	2.0	1.0	662	$1,626	$2.45	14d	9	1.03mi
317 S Clinton St Unit 4A Syracuse, NY	2.0	1.5	1500	$2,100	$1.40	14d	1	1.03mi
205 E Jefferson St Unit 2B Syracuse, NY	2.0	2.5	1100	$2,200	$2.00	21d	1	1.03mi
317 S Clinton St Unit 3A Syracuse, NY	2.0	2.0	1500	$2,100	$1.40	44d	1	1.03mi
60 Presidential Plz Syracuse, NY	1.0–2.0	1.0–1.5	970	$1,315	$1.36	44d	1	1.03mi
110 Walton St Unit 201 Syracuse, NY	2.0	2.0	1051	$2,200	$2.09	44d	1	1.06mi
110 Walton St Unit 301 Syracuse, NY	2.0	2.0	1051	$2,000	$1.90	21d	1	1.06mi
120 Walton St Syracuse, NY	1.0–2.0	1.0–2.0	825	$3,200	$3.88	44d	2	1.06mi
108 W Jefferson St #706 Syracuse, NY	1.0	1.0	959	$1,850	$1.93	44d	1	1.07mi

Listing history 24 events

1. 2026-05-11
   status Pending 636-char remark

   Show marketing remark (636 chars)

   Welcome to 115 S Alvord St, Syracuse, NY 13203 — a turnkey, cash-flowing rental property offering stability, strong payment history, and minimal landlord expense. Property Highlights: 2 Bedrooms | 2 Full Bathrooms Long-term tenant in place Current rent: $1,350 per month Section 8 pays 100% of the rent Tenant pays gas & electric Low property taxes Strong rental history This property provides dependable, government-backed rental income, making it an ideal addition to any investor’s Portfolio — whether you’re scaling locally or adding a stable Syracuse asset to a larger portfolio.

2. 2026-02-27
   listed $65,000 Active 636-char remark

   Show marketing remark (636 chars)

   Welcome to 115 S Alvord St, Syracuse, NY 13203 — a turnkey, cash-flowing rental property offering stability, strong payment history, and minimal landlord expense. Property Highlights: 2 Bedrooms | 2 Full Bathrooms Long-term tenant in place Current rent: $1,350 per month Section 8 pays 100% of the rent Tenant pays gas & electric Low property taxes Strong rental history This property provides dependable, government-backed rental income, making it an ideal addition to any investor’s Portfolio — whether you’re scaling locally or adding a stable Syracuse asset to a larger portfolio.

3. 2025-04-01
   historical
4. 2025-01-17
   price $84,900
5. 2024-10-10
   listed $89,900 Active
6. 2022-11-15
   soldstatus $170,000
7. 2022-10-25
   soldstatus $55,000 Closed Sale or Rented
8. 2022-08-05
   historical
9. 2022-08-03
   listed $55,000
10. 2020-10-06
    soldstatus $32,000 Closed Sale or Rented
11. 2020-08-19
    status Under Contract- Do Not Show
12. 2020-08-05
    listed $29,900 Active
13. 2017-10-18
    soldstatus $27,000 Closed Sale or Rented
14. 2017-07-05
    historical Under Contract- Do Not Show
15. 2017-05-22
    price $32,900
16. 2017-05-11
    price $33,500
17. 2017-05-03
    price $34,000
18. 2017-04-30
    price $34,500
19. 2017-04-24
    price $34,900
20. 2017-04-18
    price $35,900
21. 2017-03-30
    price $36,900
22. 2017-03-21
    price $37,900
23. 2017-03-07
    price $38,900
24. 2017-02-06
    listed $39,900 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: $767 · $64/mo
• Projected year-2 tax: $933 · $78/mo
• Expected delta: +$166/yr (+$14/mo · 21.6%)

ⓘ 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: $20,694
• − Mortgage interest: −$3,641
• − Property taxes: −$767
• − Insurance: −$325
• − Repairs & maintenance: −$1,655
• − Management: −$1,655
• − Depreciation: −$1,891
• Taxable income: $10,759
• Est. tax owed @ 24.0%: −$2,582
• After-tax cash flow: $8,583/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): 16,180
• Household income: $46,997
• Rent vs Own: 63.8% rent · 36.2% own
• Severe rent burden: 1566.0

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: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 52% Black 22% Hispanic / Latino 11% Two or more races 9% Asian 7%
• Hispanic origin (detail): Puerto Rican 6% Cuban 2%
• Common ancestry: Romanian 3% Lithuanian 2% Iranian 2%
• Foreign-born: 13% · Canada, India, Philippines
• Languages at home: 81% English-only · Spanish 6% Other Indo-European 3% Other Asian/Pacific 3%

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: ▼ -35.69%
• Current HPI: 263.2588
• Rent YoY: ▲ 8.39%
• 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

+62.9% since first listed

24 events — show timeline

• 2026-05-11 Pending — CNYIS
• 2026-02-27 Listed $65,000 CNYIS
• 2025-04-01 Listing Removed — CNYIS
• 2025-01-17 Price Changed $84,900 CNYIS
• 2024-10-10 Listed $89,900 CNYIS
• 2022-11-15 Sold (Public Records) $170,000 Public Records
• 2022-10-25 Sold (MLS) $55,000 CNYIS
• 2022-08-05 Listing Removed — CNYIS
• 2022-08-03 Listed $55,000 CNYIS
• 2020-10-06 Sold (MLS) $32,000 CNYIS
• 2020-08-19 Pending — CNYIS
• 2020-08-05 Listed $29,900 CNYIS
• 2017-10-18 Sold (MLS) $27,000 CNYIS
• 2017-07-05 Contingent — CNYIS
• 2017-05-22 Price Changed $32,900 CNYIS
• 2017-05-11 Price Changed $33,500 CNYIS
• 2017-05-03 Price Changed $34,000 CNYIS
• 2017-04-30 Price Changed $34,500 CNYIS
• 2017-04-24 Price Changed $34,900 CNYIS
• 2017-04-18 Price Changed $35,900 CNYIS
• 2017-03-30 Price Changed $36,900 CNYIS
• 2017-03-21 Price Changed $37,900 CNYIS
• 2017-03-07 Price Changed $38,900 CNYIS
• 2017-02-06 Listed $39,900 CNYIS

Property tax history

-0.0%/yr

Latest (2025): $767 · +0.0% YoY. Source: county tax records.