2129 James St · Syracuse, NY 13206

$249,900

4 bd · 2.0 ba · 2,156 sqft · MultiFamily public records · 7 Days on market

Built 1920 7,633 sqft lot Est $233k · 7% 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• ARV discount +4.2/15.0
• Rent growth +4.0/5.0
• Livability +3.9/5.0
• 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

CLASSIC EASTWOOD 2 FAMILY OFFERED FOR SALE. BOTH UNITS HAVE HAD EXTENSIVE WORK OVER THE PAST 5 YEARS, INCLUDING KITCHENS AND BATHROOMS, MECHANICALS, FLOORING AND PAINTING. EXCELLENT LOCATION, JUST A COUPLE OF MINUTES WALK TO EASTWOOD COMMERCIAL DISTRICT. LOTS OF PARKING AND SUPERB CURB APPEAL. PRIVATE BALCONY OFF THE UPSTAIRS UNIT IS A REAL BONUS!!!!

Key facts

• New carpet
• Freshly painted
• Tons of parking

Tags

• MODERN KITCHEN
• UPDATED BATHROOM
• NEW CARPET
• FRESHLY PAINTED
• TONS OF PARKING
• PARTIALLY FENCED YARD

What this means for you Summary

Snapshot

• This is a 1×2bd/1.0ba + 1×3bd/1.0ba units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $559/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Cap rate 11.7% 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: Rents rising fast (+5.8%/yr); 42 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• At $3,381/mo this rent would consume 64% of the median local household income ($63k/yr) (locally 725% 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 $2k of loan paydown is wiped out by about $7k 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 + 5.8% rent growth), your $70k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 12y ago; this cycle's ask is 11523% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $160k; list at $250k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $249,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.35% ✓
• Cap rate: 11.66%
• Cash-on-cash: 19.18%
• DSCR: 1.85
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $232,848
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
309 Mildred Ave #11	0.21mi	4/2.0	2,028 (-6%)	5mo	$220,000	$108	76
512 Boyden St	0.47mi	4/2.0	2,128 (-1%)	6mo	$257,500	$121	71
257-259 Forest Hill Dr	0.41mi	4/2.0	2,168 (+1%)	15mo	$273,500	$126	68
336 S Collingwood Ave	0.61mi	4/2.0	2,208 (+2%)	2mo	$267,000	$121	65
140 Mildred Ave	0.06mi	3/3.0 (-1)	1,897 (-12%)	6mo	$204,900	$108	63
149-51 Mooney Ave	0.39mi	4/2.0	1,944 (-10%)	9mo	$210,000	$108	58
265 Norwood Ave	0.48mi	4/2.0	2,024 (-6%)	13mo	$262,000	$129	56
411 Hazelhurst Ave	0.65mi	5/2.0 (+1)	2,144 (-1%)	11mo	$215,000	$100	54
327 Robinson St	0.74mi	4/2.0	1,935 (-10%)	0mo	$163,000	$84	48
291 N Midler Ave	0.68mi	3/2.0 (-1)	2,088 (-3%)	12mo	$190,000	$91	48
1004 Teall Ave	0.59mi	4/2.0	2,433 (+13%)	10mo	$205,000	$84	43
124 Dorothy St	0.70mi	5/2.0 (+1)	1,884 (-13%)	12mo	$162,000	$86	32

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 · 5.85% rent growth · sell at horizon

5-year hold

• IRR: 14.1%
• Equity multiple: 1.58×
• Total profit: $40,662
• Equity at exit: $37,261

10-year hold

• IRR: 24.8%
• Equity multiple: 3.43×
• Total profit: $170,297
• Equity at exit: $21,607

Cash invested: $69,972 (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 13206

• Home prices YoY: -7.1%
• Rents YoY: 5.8%
• Active inventory: 42
• Price-to-rent: 12.8×

Monthly cashflow live

• Estimated rent: $3,381 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$138 /mo · $1,654/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$710
• Net cashflow: $1,119

Break-even live

Break-even rent $1,965

Max offer price $249,900

Occupancy floor 62%

Sensitivity live

Price	-10% $1,260	-5% $1,189	+0% $1,119	+5% $1,048	+10% $977
Rent	-10% $851	-5% $985	+0% $1,119	+5% $1,252	+10% $1,386
Rate	-1.0pp $1,244	-0.5pp $1,182	base $1,119	+0.5pp $1,054	+1.0pp $988

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,621
1× unit	3	1	$1,761
Total (2 units)			$3,381

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
202 Stafford Ave Syracuse, NY	3.0	1.0	1692	$1,800	$1.06	14d	1	0.26mi
1607 Burnet Ave Unit 1 Syracuse, NY	3.0	1.0	2538	$1,650	$0.65	21d	1	0.80mi
712 Oak St Syracuse, NY	3.0	1.0	2461	$1,700	$0.69	21d	1	1.01mi
365 Green St Syracuse, NY	5.0	3.5	2263	$3,300	$1.46	21d	1	1.12mi
746 E Laurel St Unit 1 Syracuse, NY	4.0	2.0	1400	$1,500	$1.07	44d	1	1.43mi
409 Westmoreland Ave Unit 9 Syracuse, NY	3.0	1.0	2480	$2,200	$0.89	44d	1	1.46mi

Listing history 18 events

1. 2026-05-18
   historical $2,150
2. 2026-04-29
   listed $2,150
3. 2026-04-28
   historical $2,150
4. 2026-04-16
   listed $2,150
5. 2026-03-06
   status Pending
6. 2026-02-26
   listed $249,900 Active
7. 2022-01-18
   soldstatus $160,000
8. 2022-01-06
   soldstatus $160,000 Closed Sale or Rented 352-char remark

   Show marketing remark (352 chars)

   CLASSIC EASTWOOD 2 FAMILY OFFERED FOR SALE. BOTH UNITS HAVE HAD EXTENSIVE WORK OVER THE PAST 5 YEARS, INCLUDING KITCHENS AND BATHROOMS, MECHANICALS, FLOORING AND PAINTING. EXCELLENT LOCATION, JUST A COUPLE OF MINUTES WALK TO EASTWOOD COMMERCIAL DISTRICT. LOTS OF PARKING AND SUPERB CURB APPEAL. PRIVATE BALCONY OFF THE UPSTAIRS UNIT IS A REAL BONUS!!!!

9. 2021-11-09
   status Pending Sale 352-char remark

   Show marketing remark (352 chars)

   CLASSIC EASTWOOD 2 FAMILY OFFERED FOR SALE. BOTH UNITS HAVE HAD EXTENSIVE WORK OVER THE PAST 5 YEARS, INCLUDING KITCHENS AND BATHROOMS, MECHANICALS, FLOORING AND PAINTING. EXCELLENT LOCATION, JUST A COUPLE OF MINUTES WALK TO EASTWOOD COMMERCIAL DISTRICT. LOTS OF PARKING AND SUPERB CURB APPEAL. PRIVATE BALCONY OFF THE UPSTAIRS UNIT IS A REAL BONUS!!!!

10. 2021-07-15
    status Under Contract- Do Not Show 352-char remark

    Show marketing remark (352 chars)

    CLASSIC EASTWOOD 2 FAMILY OFFERED FOR SALE. BOTH UNITS HAVE HAD EXTENSIVE WORK OVER THE PAST 5 YEARS, INCLUDING KITCHENS AND BATHROOMS, MECHANICALS, FLOORING AND PAINTING. EXCELLENT LOCATION, JUST A COUPLE OF MINUTES WALK TO EASTWOOD COMMERCIAL DISTRICT. LOTS OF PARKING AND SUPERB CURB APPEAL. PRIVATE BALCONY OFF THE UPSTAIRS UNIT IS A REAL BONUS!!!!

11. 2021-06-30
    listed $159,900 Active 352-char remark

    Show marketing remark (352 chars)

    CLASSIC EASTWOOD 2 FAMILY OFFERED FOR SALE. BOTH UNITS HAVE HAD EXTENSIVE WORK OVER THE PAST 5 YEARS, INCLUDING KITCHENS AND BATHROOMS, MECHANICALS, FLOORING AND PAINTING. EXCELLENT LOCATION, JUST A COUPLE OF MINUTES WALK TO EASTWOOD COMMERCIAL DISTRICT. LOTS OF PARKING AND SUPERB CURB APPEAL. PRIVATE BALCONY OFF THE UPSTAIRS UNIT IS A REAL BONUS!!!!

12. 2015-12-15
    soldstatus $84,500
13. 2015-12-14
    soldstatus $80,000 Closed Sale or Rented 331-char remark

    Show marketing remark (331 chars)

    Welcome to 2129 James Street! Don't let looks deceive you; this is a large (2,156 SF) 2 Family Home located in Eastwood. Hardwood floors, new stove in the 2nd floor apartment, lower apartment has a wood fireplace. On the bus line. Conveniently located near Shop City, shopping, highways, and restaurants. Schedule a showing today!

14. 2015-11-30
    status Pending Sale 331-char remark

    Show marketing remark (331 chars)

    Welcome to 2129 James Street! Don't let looks deceive you; this is a large (2,156 SF) 2 Family Home located in Eastwood. Hardwood floors, new stove in the 2nd floor apartment, lower apartment has a wood fireplace. On the bus line. Conveniently located near Shop City, shopping, highways, and restaurants. Schedule a showing today!

15. 2015-10-06
    historical Continue to Show- Under Contract 331-char remark

    Show marketing remark (331 chars)

    Welcome to 2129 James Street! Don't let looks deceive you; this is a large (2,156 SF) 2 Family Home located in Eastwood. Hardwood floors, new stove in the 2nd floor apartment, lower apartment has a wood fireplace. On the bus line. Conveniently located near Shop City, shopping, highways, and restaurants. Schedule a showing today!

16. 2015-10-06
    listed $89,900 Active 331-char remark

    Show marketing remark (331 chars)

    Welcome to 2129 James Street! Don't let looks deceive you; this is a large (2,156 SF) 2 Family Home located in Eastwood. Hardwood floors, new stove in the 2nd floor apartment, lower apartment has a wood fireplace. On the bus line. Conveniently located near Shop City, shopping, highways, and restaurants. Schedule a showing today!

17. 2014-12-03
    listed $99,900
18. 2014-05-30
    listed $104,900

ⓘ 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: $1,654 · $138/mo
• Projected year-2 tax: $2,938 · $245/mo
• Expected delta: +$1,285/yr (+$107/mo · 77.7%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% 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: $40,572
• − Mortgage interest: −$13,998
• − Property taxes: −$1,654
• − Insurance: −$1,250
• − Repairs & maintenance: −$3,246
• − Management: −$3,246
• − Depreciation: −$7,270
• Taxable income: $9,909
• Est. tax owed @ 24.0%: −$2,378
• After-tax cash flow: $11,044/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): 16,245
• Household income: $63,136
• Rent vs Own: 42.5% rent · 57.5% own
• Severe rent burden: 725.0

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 (67%)
• Race & ethnicity: White 67% Black 13% Two or more races 9% Hispanic / Latino 8% Asian 5%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 6% Lithuanian 4% Slovak 2%
• Foreign-born: 8% · Canada, Jamaica, China
• Languages at home: 89% English-only · Spanish 3% Arabic 2% 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: ▼ -24.60%
• Current HPI: 322.231
• Rent YoY: ▲ 5.85%
• 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

-98.0% since first listed

18 events — show timeline

• 2026-05-18 Rental Removed $2,150 TURBOTENANT
• 2026-04-29 Listed for Rent $2,150 TURBOTENANT
• 2026-04-28 Rental Removed $2,150 TURBOTENANT
• 2026-04-16 Listed for Rent $2,150 TURBOTENANT
• 2026-03-06 Pending — CNYIS
• 2026-02-26 Listed $249,900 CNYIS
• 2022-01-18 Sold (Public Records) $160,000 Public Records
• 2022-01-06 Sold (MLS) $160,000 CNYIS
• 2021-11-09 Pending — CNYIS
• 2021-07-15 Pending — CNYIS
• 2021-06-30 Listed $159,900 CNYIS
• 2015-12-15 Sold (Public Records) $84,500 Public Records
• 2015-12-14 Sold (MLS) $80,000 CNYIS
• 2015-11-30 Pending — CNYIS
• 2015-10-06 Contingent — CNYIS
• 2015-10-06 Listed $89,900 CNYIS
• 2014-12-03 Listed $99,900 CNYIS
• 2014-05-30 Listed $104,900 CNYIS

Property tax history

-0.4%/yr

Latest (2025): $1,654 · +0.0% YoY. Source: county tax records.