233 W Newell St · Syracuse, NY 13205

$174,900

3 bd · 1.5 ba · 1,504 sqft · SingleFamily public records · 19 Days on market

Built 1996 7,541 sqft lot Est $147k · 19% over

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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 +28.7/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +7.0/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• ARV discount +0.0/15.0

Listing remarks

This home offers a number of recent updates and improvements throughout, providing a great opportunity for the next owner to move in and make it their own. Recent updates include plumbing work, a new furnace, granite kitchen countertops, updated light fixtures, and new flooring upstairs. Much of the interior has also been refreshed with fresh paint and new interior doors throughout most of the home. The lower level has seen significant improvements with all new sheetrock, a newly added bathroom, and a new staircase leading downstairs, creating additional usable living space and flexibility. The garage has also been updated with new sheetrock. The primary suite features both a Jacuzzi tub an

Key facts

• New furnace
• Fresh paint
• New flooring

Tags

• NEW FURNACE
• GRANITE KITCHEN COUNTERTOPS
• UPDATED LIGHT FIXTURES
• NEW FLOORING
• FRESH PAINT
• NEW INTERIOR DOORS

Property features AI

Exterior

• Parking: Attached 1-car garage
• Utilities: Public water connected; Sewer connected; Circuit breaker electrical panel
• Home design: Two-story home; Existing/resale property
• Construction: Vinyl siding; PEX plumbing; Poured foundation
• Exterior features: Blacktop driveway; Deck; Near public transit; Rectangular lot (57 x 131)

Interior

• Kitchen: Gas water heater
• Bedrooms: Two main-level bedrooms
• Flooring: Luxury vinyl flooring
• Bathrooms: Two full bathrooms; One main-level bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Entrance foyer; Combined living and dining area; Primary bedroom with private bath; Programmable thermostat; Finished basement; Bonus room; Recreation room; Laundry room in basement; Basement
• Laundry & utility: Laundry located in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $580 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $172k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.3% 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: 67 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $17k 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 $49k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.

Recommended offer $172,276 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.20% ✓
• Cap rate: 10.27%
• Cash-on-cash: 14.21%
• DSCR: 1.63
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $147,392
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
129 W Pleasant Ave	0.17mi	4/1.5 (+1)	1,532 (+2%)	4mo	$160,000	$104	81
504 W Newell St	0.34mi	3/1.0	1,545 (+3%)	0mo	$110,000	$71	77
183 W Ostrander Ave	0.26mi	4/1.0 (+1)	1,519 (+1%)	4mo	$63,000	$41	76
2331 Midland Ave	0.05mi	4/1.5 (+1)	1,664 (+11%)	3mo	$90,000	$54	72
118 W Lafayette Ave	0.27mi	3/1.5	1,373 (-9%)	6mo	$153,700	$112	68
303 Marguerite Ave	0.58mi	3/1.0	1,486 (-1%)	4mo	$45,000	$30	65
875 W Lafayette Ave	0.52mi	4/1.0 (+1)	1,568 (+4%)	4mo	$160,000	$102	59
147 E Matson Ave	0.46mi	4/2.5 (+1)	1,421 (-6%)	3mo	$80,000	$56	58
604 W Ostrander Ave	0.39mi	2/2.5 (-1)	1,320 (-12%)	1mo	$201,000	$152	52
237 Evaleen Ave #39	0.59mi	3/1.0	1,298 (-14%)	5mo	$128,750	$99	43
309 Marguerite Ave	0.61mi	2/1.0 (-1)	1,344 (-11%)	6mo	$79,000	$59	42
403 Pacific Ave	0.67mi	2/1.0 (-1)	1,331 (-12%)	3mo	$130,000	$98	40

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: 34.8%
• Equity multiple: 3.70×
• Total profit: $132,150
• Equity at exit: $157,564

10-year hold

• IRR: 29.9%
• Equity multiple: 8.35×
• Total profit: $360,003
• Equity at exit: $339,792

Cash invested: $48,972 (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 13205

• Home prices YoY: 3.0%
• Active inventory: 67
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,092 high
• Mortgage (P&I): −$917
• Tax from tax record: −$83 /mo · $991/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$439
• Net cashflow: $580

Break-even live

Break-even rent $1,358

Max offer price $174,900

Occupancy floor 67%

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2331 Midland Ave Syracuse, NY	4.0	1.5	1664	$2,300	$1.38	20d	1	0.05mi
147 E Matson Ave Syracuse, NY	3.0	2.5	1421	$2,000	$1.41	20d	1	0.43mi
1330 Midland Ave Syracuse, NY	4.0	1.0	1870	$2,000	$1.07	20d	1	0.64mi
269 W Borden Ave Syracuse, NY	4.0	1.5	1800	$650	$0.36	20d	1	0.69mi
102 Newbury Hollow Ln Syracuse, NY	2.0	1.5	1200	$1,550	$1.29	13d	1	0.69mi
102 Newbury Hollow Ln Syracuse, NY	3.0	2.0	2000	$2,300	$1.15	43d	1	0.69mi
300 Mains Ave Unit Bradford-7 Syracuse, NY	2.0	1.0	1200	$1,100	$0.92	13d	1	0.93mi
260 Robert Dr Syracuse, NY	3.0	1.5	1200	$2,097	$1.75	43d	1	0.98mi
213 Fletcher Ave Unit 2 Syracuse, NY	3.0	1.0	1200	$1,700	$1.42	13d	1	0.98mi
259 Robert Dr Syracuse, NY	3.0	1.5	1350	$699	$0.52	43d	1	1.00mi
154 Seeley Ave Syracuse, NY	4.0	1.0	1312	$2,100	$1.60	13d	1	1.03mi

Listing history 15 events

1. 2026-06-18
   days on market $174,900 Active 19 DOM
2. 2026-06-17
   days on market $174,900 Active 18 DOM
3. 2026-06-16
   days on market $174,900 Active 17 DOM
4. 2026-06-15
   days on market $174,900 Active 16 DOM
5. 2026-06-14
   days on market $174,900 Active 14 DOM
6. 2026-06-13
   days on market $174,900 Active 13 DOM
7. 2026-06-10
   days on market $174,900 Active 11 DOM
8. 2026-06-09
   days on market $174,900 Active 10 DOM
9. 2026-06-08
   days on market $174,900 Active 9 DOM
10. 2026-06-07
    days on market $174,900 Active 8 DOM
11. 2026-06-05
    days on market $174,900 Active 5 DOM
12. 2026-06-02
    days on market $174,900 Active 3 DOM
13. 2026-06-01
    days on market $174,900 Active 2 DOM
14. 2026-05-31
    remarks 699-char remark
15. 2026-05-31
    listed $174,900 Active 1 DOM

ⓘ 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: $991 · $83/mo
• Projected year-2 tax: $1,974 · $164/mo
• Expected delta: +$982/yr (+$82/mo · 99.1%)

ⓘ 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: $25,106
• − Mortgage interest: −$9,797
• − Property taxes: −$991
• − Insurance: −$874
• − Repairs & maintenance: −$2,008
• − Management: −$2,008
• − Depreciation: −$5,088
• Taxable income: $4,338
• Est. tax owed @ 24.0%: −$1,041
• After-tax cash flow: $5,920/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
• City population: 152,627
• Population (ZIP): 18,562

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: Black 44% White 37% Two or more races 10% Hispanic / Latino 6% Asian 3%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 2% Italian 2% Swiss 1%
• Foreign-born: 9% · Canada, China, Vietnam
• Languages at home: 87% English-only · Spanish 5% Arabic 1% 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: ▲ 10.12%
• Current HPI: 345.8854
• Rent YoY: —
• Metro: —
• 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

• 2026-05-30 Listed $174,900 CNYIS

Property tax history

-0.3%/yr

Latest (2025): $991 · +0.0% YoY. Source: county tax records.