53 E Seneca St · Oswego, NY 13126

$395,000

72 bd · None ba · 6,495 sqft · MultiFamily public records · 222 Days on market

Built 1900 5,130 sqft lot $61/sqft · 34% above area Est $297k · 33% over

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Why this score? — see what drove the D 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 +15.0/30.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +5.0/5.0
• Appreciation +3.9/10.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 12 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

This property has 5 one bedroom and 1 two bedroom units. The tenants pay their own utilities. Property is in good condition and generates a great return. Walk to City of Oswego and enjoy the beautiful Ontario Lake waterfront restaurants. This is part of 3 properties portfolio to be sold with 827 Park St (12-unit) as well as 600 South Ave (6-unit) for total of $1,845 million.

Key facts

• 5,130 sq ft lot
• 3 parking spots
• Built 1900

Tags

• ONTARIO LAKE WATERFRONT

What this means for you Summary

Snapshot

• This is a 12 × 6-bed/?-bath units multifamily listed at $395k.

Deal economics

• At list price, monthly cash flow is $15k ($182k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($22k rent vs $395k).
• Recommended offer: $348k (12.0% below list) — sets the bar for market timing.
• Cap rate 52.4% vs local median 8.8% in Oswego — 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 75/100 on livability (#265 in NY, #4,189 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, crime F, commute F.
• Oswego City School District (town): math 39% / reading 51% proficiency, ranked #465 of 590 in NY (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+19.2%/yr); 168 active listings in the ZIP; 172 units permitted in Oswego County in 2024 (27 in 5+ unit buildings).
• At $22,405/mo this rent would consume 411% of the median local household income ($65k/yr) (locally 1341% 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 (-2.2%/yr); year-one equity from $3k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Oswego County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-2.2% appreciation + 8.0% rent growth), your $111k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 222 days — a 12% lower offer ($348k) is reasonable based on typical stale-listing flexibility.
• 10 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.
• Current owner paid $185k; list at $395k implies a 114% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $347,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 222 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. 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: 5.67% ✓
• Cap rate: 52.37%
• Cash-on-cash: 164.56%
• DSCR: 8.32
• GRM: 1.5

CMA / ARV

• ARV (median comp): $297,159
• List price: $395,000
• Delta: 32.93%
• Verdict: OVERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

-2.25% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 10.34×
• Total profit: $1,033,088
• Equity at exit: $72,167

10-year hold

• IRR: —
• Equity multiple: 25.36×
• Total profit: $2,694,245
• Equity at exit: $57,391

Cash invested: $110,600 (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 13126

• Home prices YoY: -0.8%
• Rents YoY: 19.2%
• Active inventory: 168
• Price-to-rent: 17.6×

Monthly cashflow live

• Estimated rent: $22,405 medium
• Mortgage (P&I): −$2,071
• Tax from tax record: −$297 /mo · $3,563/yr
• Insurance: −$165
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,705
• Net cashflow: $15,167

Break-even live

Break-even rent $3,206

Max offer price $395,000

Occupancy floor 27%

Sensitivity live

Price	-10% $15,391	-5% $15,279	+0% $15,167	+5% $15,055	+10% $14,943
Rent	-10% $13,397	-5% $14,282	+0% $15,167	+5% $16,052	+10% $16,937
Rate	-1.0pp $15,366	-0.5pp $15,268	base $15,167	+0.5pp $15,065	+1.0pp $14,961

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

Units	Beds	Baths	Est. rent
▸ 12× units	6	—	$22,404
Total (12 units)			$22,405

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: $98,750
• Closing costs: $11,850
• Reserves months: —
• Total cash needed: —

Listing history 41 events

1. 2026-06-18
   days on market $395,000 Active 222 DOM
2. 2026-06-17
   days on market $395,000 Active 221 DOM
3. 2026-06-16
   days on market $395,000 Active 220 DOM
4. 2026-06-15
   days on market $395,000 Active 219 DOM
5. 2026-06-14
   days on market $395,000 Active 217 DOM
6. 2026-06-13
   days on market $395,000 Active 216 DOM
7. 2026-06-10
   days on market $395,000 Active 214 DOM
8. 2026-06-08
   days on market $395,000 Active 212 DOM
9. 2026-06-07
   days on market $395,000 Active 211 DOM
10. 2026-06-02
    days on market $395,000 Active 206 DOM
11. 2026-06-01
    days on market $395,000 Active 205 DOM
12. 2026-05-31
    days on market $395,000 Active 204 DOM
13. 2026-05-30
    days on market $395,000 Active 203 DOM
14. 2025-11-08
    listed $395,000 Active 377-char remark

    Show marketing remark (377 chars)

    This property has 5 one bedroom and 1 two bedroom units. The tenants pay their own utilities. Property is in good condition and generates a great return. Walk to City of Oswego and enjoy the beautiful Ontario Lake waterfront restaurants. This is part of 3 properties portfolio to be sold with 827 Park St (12-unit) as well as 600 South Ave (6-unit) for total of $1,845 million.

15. 2025-11-05
    historical
16. 2025-11-04
    price $395,000
17. 2025-02-19
    price $409,000
18. 2025-01-07
    listed $450,000 Active
19. 2025-01-06
    historical
20. 2024-12-16
    price $1,895,000
21. 2024-11-01
    listed $2,000,000 Active
22. 2024-06-25
    historical
23. 2024-06-24
    historical
24. 2024-01-16
    historical
25. 2023-10-17
    listed $449,000 Active
26. 2023-10-12
    status Active
27. 2023-10-12
    historical
28. 2023-06-22
    price $449,000
29. 2023-04-28
    historical Continue to Show- Under Contract
30. 2023-03-29
    historical
31. 2023-03-29
    listed $1,748,800 Active
32. 2023-01-26
    listed $1,900,000 Active
33. 2021-04-30
    historical
34. 2021-03-05
    price $264,000
35. 2020-10-30
    listed $280,000 Active
36. 2020-09-25
    soldstatus $185,000 Closed Sale or Rented
37. 2020-07-26
    status Pending Sale
38. 2020-07-21
    listed $199,900 Active
39. 2017-12-29
    historical
40. 2017-06-26
    listed $169,900 Active
41. 2013-05-17
    soldstatus $117,000

ⓘ 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: $3,563 · $297/mo
• Projected year-2 tax: $5,119 · $427/mo
• Expected delta: +$1,556/yr (+$130/mo · 43.7%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $268,860
• − Mortgage interest: −$22,126
• − Property taxes: −$3,563
• − Insurance: −$1,975
• − Repairs & maintenance: −$21,509
• − Management: −$21,509
• − Depreciation: −$11,491
• Taxable income: $186,688
• Est. tax owed @ 24.0%: −$44,805
• After-tax cash flow: $137,200/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: Oswego City School District
• NCES district ID: 3622050
• Math proficiency: 39% ▼ -7.00%
• Reading proficiency: 51% ▲ 9.00%
• Median HH income: $45,835
• Composite: 38.2/100
• National rank: #4257
• State rank: #465 of 590 in NY

Livability — Oswego

• Score: 75/100
• State rank: #265
• US rank: #4189

Category grades

Amenities B+ Commute F Cost of living A+ Crime F Employment D- Housing A+ Health & safety A+ User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oswego, NY
• County: Oswego County · 36,495 people
• City population: 36,495
• Metro: Syracuse, NY
• Population (ZIP): 36,495
• Household income: $65,346
• Rent vs Own: 34.5% rent · 65.5% own
• Severe rent burden: 1341.0

Population outlook (Oswego County) Hauer SSP2

• Today (2025): 114,465 people
• By 2030: 109,968 · -3.9%
• By 2040: 99,205 · -13.3%
• By 2050: 87,979 · -23.1%
• By 2075: 65,100 · -43.1%
• By 2100: 47,117 · -58.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 5% Two or more races 5% Black 2% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Romanian 6% Lithuanian 4% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 3% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Oswego

• 2024 margin: Strong R (+24.2) · D 37.9% · R 62.1%
• 2008→2024 swing: -26.6pp toward R · 2008: 2.5pp · 2024: -24.2pp
• All cycles: 2024: R+24.2 2020: R+20.2 2016: R+23.2 2012: D+7.9 2008: D+2.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.25%
• Current HPI: 295.5134
• Rent YoY: ▲ 19.18%
• 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

+237.6% since first listed

28 events — show timeline

• 2025-11-08 Listed $395,000 CNYIS
• 2025-11-05 Listing Removed — CNYIS
• 2025-11-04 Price Changed $395,000 CNYIS
• 2025-02-19 Price Changed $409,000 CNYIS
• 2025-01-07 Listed $450,000 CNYIS
• 2025-01-06 Listing Removed — CNYIS
• 2024-12-16 Price Changed $1,895,000 CNYIS
• 2024-11-01 Listed $2,000,000 CNYIS
• 2024-06-25 Listing Removed — CNYIS
• 2024-06-24 Listing Removed — CNYIS
• 2024-01-16 Listing Removed — CNYIS
• 2023-10-17 Listed $449,000 CNYIS
• 2023-10-12 Relisted — CNYIS
• 2023-10-12 Listing Removed — CNYIS
• 2023-06-22 Price Changed $449,000 CNYIS
• 2023-04-28 Contingent — CNYIS
• 2023-03-29 Listed $1,748,800 CNYIS
• 2023-03-29 Listing Removed — CNYIS
• 2023-01-26 Listed $1,900,000 CNYIS
• 2021-04-30 Listing Removed — CNYIS
• 2021-03-05 Price Changed $264,000 CNYIS
• 2020-10-30 Listed $280,000 CNYIS
• 2020-09-25 Sold (MLS) $185,000 CNYIS
• 2020-07-26 Pending — CNYIS
• 2020-07-21 Listed $199,900 CNYIS
• 2017-12-29 Listing Removed — CNYIS
• 2017-06-26 Listed $169,900 CNYIS
• 2013-05-17 Sold (Public Records) $117,000 Public Records

Property tax history

+11.4%/yr

Latest (2025): $3,563 · -31.1% YoY. Source: county tax records.