729 Otisco St · Syracuse, NY 13204

$199,900

3 bd · 1.5 ba · 1,938 sqft · SingleFamily public records · 7 Days on market

Built 1880 6,534 sqft lot Est $138k · 45% over

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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 +21.0/30.0
• Appreciation +10.0/10.0
• DSCR +6.7/10.0
• Rent growth +4.6/5.0
• 1% rule +4.3/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• ARV discount +0.0/15.0

Listing remarks

Excited to introduce this charming, reimagined city bungalow, 729 Otisco St! Centrally located on the city's westside minutes from downtown & i690! Thoughtfully updated with historic characteristics including original wooden trim, classic window frames & tin ceiling! Modern upgrades include new roof, windows & furnace/water heater! The recently painted exterior creates beautiful curb appeal, especially the wrap around porch! Boasting nearly 2,000 SQFT of original hardwoods throughout the living space! A large living room makes gatherings possible! The formal dining area opens up to the kitchen for easy entertaining! The kitchen features floating shelves, SS appliances &a

Key facts

• Tin ceiling
• Original wooden trim
• New roof

Tags

• HISTORIC CHARACTERISTICS
• ORIGINAL WOODEN TRIM
• CLASSIC WINDOW FRAMES
• TIN CEILING
• NEW ROOF
• NEW WINDOWS

Property features AI

Exterior

• Parking: Detached garage; Two garage spaces
• Utilities: Public water connected; Sewer connected
• Home design: Single-story home; Resale property; Wood siding
• Construction: Wood siding construction; Stone foundation; Existing (previously built) structure
• Exterior features: Blacktop driveway; Near public transit; Rectangular residential lot with city street frontage

Interior

• Kitchen: Gas oven and gas range; Dishwasher; Refrigerator
• Bedrooms: Four main-level bedrooms
• Flooring: Hardwood; Vinyl; Varied flooring
• Bathrooms: One full bathroom; One half bathroom; Two main-level bathrooms
• Heating & cooling: Forced-air gas heating
• Interior features: Dining area and separate/formal dining room; Separate/formal living room; Kitchen/family room combo; Pull-down attic stairs; Main level primary bedroom; Bedroom on main level; Has full basement with exterior entry and walk-up access
• Laundry & utility: Main-level laundry; Washer and dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $282 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $187k (6.5% below list).
• Recommended offer: $187k (6.5% below list) — sets the bar for 1% rule.

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 (+8.2%/yr); 119 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); 50% 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 $1,869/mo this rent would consume 49% of the median local household income ($45k/yr) (locally 2073% 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 $21k of equity ($1k loan paydown + $20k 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 + 8.0% rent growth), your $56k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $15k; list at $200k implies a 1233% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $186,875 (6.5% below list)

Questions for the listing agent

1. Built in 1880 — 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: 0.93% ✗
• Cap rate: 7.98%
• Cash-on-cash: 6.04%
• DSCR: 1.27
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $137,598
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
207 Sabine St	0.38mi	4/2.0 (+1)	2,009 (+4%)	4mo	$70,000	$35	66
806 Tallman St	0.70mi	4/1.5 (+1)	1,938 (0%)	0mo	$140,000	$72	62
310 Wilbur	0.51mi	4/2.0 (+1)	1,856 (-4%)	2mo	$250,000	$135	60
229 Holland St	0.53mi	4/1.5 (+1)	2,082 (+7%)	0mo	$137,000	$66	58
205 Apple St	0.57mi	4/2.0 (+1)	1,885 (-3%)	8mo	$175,000	$93	55
328 Whittier Ave	0.68mi	4/2.0 (+1)	2,000 (+3%)	2mo	$112,000	$56	54
714 Tallman St	0.73mi	3/1.5	1,938 (0%)	15mo	$121,200	$63	53
221 Whittier Ave	0.56mi	4/1.5 (+1)	2,133 (+10%)	2mo	$190,000	$89	50
404 Tioga St	0.36mi	4/2.0 (+1)	1,680 (-13%)	6mo	$118,500	$71	49
133 Bryant Ave	0.55mi	4/2.0 (+1)	2,208 (+14%)	9mo	$260,000	$118	37
101 Malcolm St	0.67mi	3/1.5	1,700 (-12%)	20mo	$47,500	$28	32
122 Lydell St	0.65mi	4/2.0 (+1)	1,654 (-15%)	12mo	$85,000	$51	28

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 30.5%
• Equity multiple: 3.44×
• Total profit: $136,601
• Equity at exit: $180,086

10-year hold

• IRR: 27.8%
• Equity multiple: 8.37×
• Total profit: $412,453
• Equity at exit: $388,362

Cash invested: $55,972 (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 13204

• Home prices YoY: 31.6%
• Rents YoY: 8.2%
• Active inventory: 119
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,869 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$63 /mo · $756/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $282

Break-even live

Break-even rent $1,512

Max offer price $199,900

Occupancy floor 80%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
121 Whittier Ave Syracuse, NY	4.0	1.0	1400	$600	$0.43	44d	1	0.47mi
229 Kellogg St Syracuse, NY	2.0	1.0	2046	$1,300	$0.64	21d	1	0.49mi
318 Kellogg St Unit 2 Syracuse, NY	3.0	1.0	1523	$1,675	$1.10	44d	1	0.51mi
318 Kellogg St Unit 1 Syracuse, NY	3.0	1.0	1523	$1,650	$1.08	44d	1	0.51mi
326 Holland St Unit 1 Syracuse, NY	3.0	1.0	2100	$1,825	$0.87	44d	1	0.55mi
214 Rowland St Syracuse, NY	4.0	1.0	2092	$1,800	$0.86	14d	1	0.57mi
349 Bryant Ave Syracuse, NY	3.0	1.5	1500	$2,300	$1.53	13d	1	0.73mi
1110 Bellevue Ave Syracuse, NY	3.0	1.0	1449	$1,500	$1.04	44d	1	0.77mi
324 W Water St Unit 106 Syracuse, NY	2.0	1.0	1436	$2,095	$1.46	21d	1	0.80mi
317 S Clinton St Unit 3A Syracuse, NY	2.0	2.0	1500	$2,100	$1.40	44d	1	0.89mi
317 S Clinton St Unit 4A Syracuse, NY	2.0	1.5	1500	$2,100	$1.40	14d	1	0.89mi
315 Grant Ave #17 Syracuse, NY	3.0	2.0	1477	$1,275	$0.86	14d	1	0.91mi
111 E Onondaga St Syracuse, NY	1.0–2.0	1.0–2.0	1150	$3,000	$2.61	21d	5	0.92mi
321 S Salina St Unit 201 Syracuse, NY	2.0	1.0	1446	$2,450	$1.69	44d	1	0.95mi
321 S Salina St Unit 501 Syracuse, NY	2.0	1.0	1446	$3,000	$2.07	44d	1	0.95mi
319 S Salina St Syracuse, NY	2.0	2.0	1860	$2,000	$1.08	21d	1	0.96mi
447 E Washington St Syracuse, NY	3.0	1.5	2095	$2,100	$1.00	14d	1	1.28mi
60 Presidential Plz Syracuse, NY	1.0–2.0	1.0–1.5	970	$1,315	$1.36	44d	1	1.36mi

Listing history 7 events

1. 2026-06-18
   days on market $199,900 Active 7 DOM
2. 2026-06-17
   days on market $199,900 Active 6 DOM
3. 2026-06-16
   days on market $199,900 Active 5 DOM
4. 2026-06-15
   days on market $199,900 Active 4 DOM
5. 2026-06-14
   days on market $199,900 Active 2 DOM
6. 2026-06-13
   remarks 687-char remark
7. 2026-06-13
   listed $199,900 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: $756 · $63/mo
• Projected year-2 tax: $2,067 · $172/mo
• Expected delta: +$1,311/yr (+$109/mo · 173.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $22,425
• − Mortgage interest: −$11,198
• − Property taxes: −$756
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,794
• − Management: −$1,794
• − Depreciation: −$5,815
• Taxable income: $68
• Est. tax owed @ 24.0%: −$16
• After-tax cash flow: $3,364/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): 19,440
• Household income: $45,351
• Rent vs Own: 70.8% rent · 29.2% own
• Severe rent burden: 2073.0

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 0.68)
• Race & ethnicity: White 47% Black 26% Hispanic / Latino 17% Two or more races 13% Native American 1%
• Hispanic origin (detail): Puerto Rican 12% Cuban 2% Dominican 1%
• Common ancestry: Romanian 5% Lithuanian 2% Subsaharan African 2%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 83% English-only · Spanish 11% Russian/Polish/Slavic 3% Arabic 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: ▲ 100.14%
• Current HPI: 416.7272
• Rent YoY: ▲ 8.24%
• 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

+1232.7% since first listed

2 events — show timeline

• 2026-06-10 Listed $199,900 CNYIS
• 2013-10-10 Sold (Public Records) $15,000 Public Records

Property tax history

+2.1%/yr

Latest (2025): $756 · +0.0% YoY. Source: county tax records.