2107 S State St · Syracuse, NY 13205

$120,000

4 bd · 2.0 ba · 1,964 sqft · SingleFamily public records · 8 Days on market

Built 1925 5,273 sqft lot Est $159k · 25% under ↓ 20% since listing

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Why this score? — see what drove the A 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
• Appreciation +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

Listing remarks

Home needs updates but ready for viewing! #BA and #BR has been owner verified.

Key facts

• 5,273 sq ft lot
• 2 garage spots
• Built 1925

Property features AI

Exterior

• Parking: Detached garage; 2 garage spaces
• Utilities: Public water connected; Sewer connected
• Home design: 3 stories; Existing construction; Composition roof
• Construction: Wood siding; Block foundation; Attic/crawl hatchway(s) insulated
• Exterior features: Concrete driveway; Rectangular residential lot; City street frontage; Lot dimensions approximately 46 x 112

Interior

• Kitchen: Refrigerator
• Bedrooms: 1 main-level bedroom
• Flooring: Hardwood; Varies
• Bathrooms: 2 full bathrooms; 1 half bathroom; 2 main-level bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Eat-in kitchen; Bedroom on main level; Partial basement
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $819 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Cap rate 14.5% 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: 67 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 54% of comp listings sitting > 30 days — soft ceiling on asking rent; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($830 loan paydown + $12k 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 $34k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 2y 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 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $120,000

Questions for the listing agent

1. Built in 1925 — 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: 1.64% ✓
• Cap rate: 14.49%
• Cash-on-cash: 29.26%
• DSCR: 2.30
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $159,084
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
250 Mclennan Ave	0.47mi	4/1.0	2,016 (+3%)	0mo	$130,000	$64	69
215 W Beard Ave	0.36mi	5/2.0 (+1)	2,012 (+2%)	15mo	$100,000	$50	62
253 Webster Ave	0.19mi	4/1.5	1,751 (-11%)	12mo	$70,000	$40	61
1330 Midland Ave	0.47mi	4/1.0	1,870 (-5%)	8mo	$85,000	$45	60
1511 S State St	0.43mi	4/1.0	1,866 (-5%)	11mo	$157,000	$84	58
3315 S Salina St	0.60mi	3/1.0 (-1)	1,886 (-4%)	3mo	$45,500	$24	54
269 Mclennan Ave	0.48mi	4/2.5	1,740 (-11%)	4mo	$141,000	$81	53
512 E Colvin St	0.21mi	4/1.5	1,693 (-14%)	15mo	$140,000	$83	52
1110 Midland Ave	0.55mi	4/1.5	1,751 (-11%)	6mo	$70,000	$40	49
101 Xavier Cir	0.71mi	3/3.0 (-1)	1,933 (-2%)	12mo	$559,900	$290	45
128 Richardson Ave	0.72mi	3/2.0 (-1)	1,826 (-7%)	11mo	$185,000	$101	40
1200 Comstock Ave	0.74mi	5/3.0 (+1)	2,196 (+12%)	3mo	$411,000	$187	35

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: 46.5%
• Equity multiple: 4.50×
• Total profit: $117,508
• Equity at exit: $108,106

10-year hold

• IRR: 40.4%
• Equity multiple: 10.08×
• Total profit: $304,958
• Equity at exit: $233,134

Cash invested: $33,600 (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: 5.1×

Monthly cashflow live

• Estimated rent: $1,973 high
• Mortgage (P&I): −$629
• Tax from tax record: −$60 /mo · $724/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $819

Break-even live

Break-even rent $936

Max offer price $120,000

Occupancy floor 53%

Sensitivity live

Price	-10% $887	-5% $853	+0% $819	+5% $785	+10% $751
Rent	-10% $663	-5% $741	+0% $819	+5% $897	+10% $975
Rate	-1.0pp $880	-0.5pp $850	base $819	+0.5pp $788	+1.0pp $757

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
269 W Borden Ave Syracuse, NY	4.0	1.5	1800	$650	$0.36	21d	1	0.42mi
1330 Midland Ave Syracuse, NY	4.0	1.0	1870	$2,000	$1.07	21d	1	0.44mi
259 Robert Dr Syracuse, NY	3.0	1.5	1350	$699	$0.52	44d	1	0.61mi
2331 Midland Ave Syracuse, NY	4.0	1.5	1664	$2,300	$1.38	21d	1	0.63mi
147 E Matson Ave Syracuse, NY	3.0	2.5	1421	$2,000	$1.41	21d	1	0.80mi
102 Newbury Hollow Ln Syracuse, NY	3.0	2.0	2000	$2,300	$1.15	44d	1	0.93mi
620 Euclid Ave Apt 1 Syracuse, NY	3.0	1.0	1248	$1,700	$1.36	44d	1	1.26mi
501 Clarendon St Syracuse, NY	3.0	1.0	2516	$1,800	$0.72	21d	1	1.38mi
922 Westcott St Syracuse, NY	4.0	2.0	1700	$2,000	$1.18	21d	1	1.39mi
953-55 Westcott St Unit 955 Syracuse, NY	3.0	1.0	1286	$1,500	$1.17	44d	1	1.39mi
326 Holland St Unit 1 Syracuse, NY	3.0	1.0	2100	$1,825	$0.87	44d	1	1.40mi
318 Kellogg St Unit 1 Syracuse, NY	3.0	1.0	1523	$1,650	$1.08	44d	1	1.47mi
318 Kellogg St Unit 2 Syracuse, NY	3.0	1.0	1523	$1,675	$1.10	44d	1	1.47mi

Listing history 7 events

1. 2026-06-18
   days on market $120,000 Active 8 DOM
2. 2026-06-17
   days on market $120,000 Active 7 DOM
3. 2026-06-16
   days on market $120,000 Active 6 DOM
4. 2026-06-15
   days on market $120,000 Active 5 DOM
5. 2026-06-14
   days on market $120,000 Active 3 DOM
6. 2026-06-13
   remarks 78-char remark
7. 2026-06-13
   listed $120,000 Active 2 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: $724 · $60/mo
• Projected year-2 tax: $1,376 · $115/mo
• Expected delta: +$652/yr (+$54/mo · 90.0%)

ⓘ 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 · 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: $23,679
• − Mortgage interest: −$6,722
• − Property taxes: −$724
• − Insurance: −$600
• − Repairs & maintenance: −$1,894
• − Management: −$1,894
• − Depreciation: −$3,491
• Taxable income: $8,354
• Est. tax owed @ 24.0%: −$2,005
• After-tax cash flow: $7,826/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

-19.9% since first listed

4 events — show timeline

• 2026-06-10 Listed $120,000 WNYREIS
• 2025-07-30 Listing Removed — CNYIS
• 2025-04-15 Listed $149,900 CNYIS
• 2024-10-30 Listed $149,900 CNYIS

Property tax history

-0.7%/yr

Latest (2025): $724 · +0.0% YoY. Source: county tax records.