122 Cortland Pl · Syracuse, NY 13207

$174,900

3 bd · 1.0 ba · 1,421 sqft · SingleFamily public records · 3 Days on market

Built 1939 4,001 sqft lot Est $176k · at est.

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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 +21.4/30.0
• ARV discount +7.8/15.0
• DSCR +6.8/10.0
• 1% rule +4.6/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks

Minutes from everything Syracuse has to offer, this 3-bedroom, 1.5-bathroom home is a must-see! Relax on the inviting covered front porch or host gatherings on the large back deck. The interior features hardwood floors throughout, a formal dining room, and a fantastic additional family room right off the kitchen. The full basement provides excellent storage plus partially finished bonus square footage perfect for your unique needs. Ideal location close to shopping, dining, and city amenities. Showings begin Friday, June 19th at 5:00 PM.

Key facts

• Covered front porch
• Large back deck
• Formal dining room

Tags

• COVERED FRONT PORCH
• LARGE BACK DECK
• HARDWOOD FLOORS
• FORMAL DINING ROOM
• ADDITIONAL FAMILY ROOM
• FULL BASEMENT

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water connected; Sewer connected; Cable available; High-speed internet available; Electric with circuit breakers
• Home design: 2-story existing home; Vinyl siding; Architectural shingle roof; Block foundation
• Construction: Vinyl siding construction; Architectural shingle roof; Block foundation; Built (existing)
• Exterior features: Covered porch; Deck; Gravel driveway; Rectangular residential lot; City street frontage; Lot dimensions approximately 40 x 100

Interior

• Kitchen: Dishwasher; Gas oven; Gas range; Microwave; Refrigerator; Eat-in kitchen
• Bedrooms: Total of 6 rooms including living and family spaces
• Flooring: Hardwood; Carpet; Tile; Varies
• Bathrooms: One full bathroom; One half bathroom; One main-level bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Separate/formal living room; Separate/formal dining room; Eat-in kitchen; Full, partially finished basement; One fireplace
• Laundry & utility: Washer and dryer located in the basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $259 ($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 $168k (3.9% below list).
• Recommended offer: $168k (3.9% 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: 63 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $95k; list at $175k implies a 85% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $168,029 (3.9% below list)

Questions for the listing agent

1. Built in 1939 — 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: 0.96% ✗
• Cap rate: 8.07%
• Cash-on-cash: 6.35%
• DSCR: 1.28
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $176,204
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
130 Cortland Pl	0.01mi	3/2.5	1,344 (-5%)	6mo	$194,250	$145	79
122 Maxwell Ave	0.30mi	3/2.0	1,410 (-1%)	4mo	$160,000	$113	78
144 Oakdale Dr	0.36mi	3/1.5	1,344 (-5%)	1mo	$72,000	$54	71
142 Maxwell Ave	0.31mi	4/2.0 (+1)	1,392 (-2%)	4mo	$122,500	$88	70
3633 Midland Ave	0.29mi	3/1.5	1,536 (+8%)	2mo	$190,000	$124	69
154 Seeley Ave	0.38mi	3/1.0	1,321 (-7%)	3mo	$70,000	$53	68
109 Smith Rd	0.16mi	2/1.0 (-1)	1,244 (-12%)	2mo	$155,500	$125	66
403 Pacific Ave	0.35mi	2/1.0 (-1)	1,331 (-6%)	3mo	$130,000	$98	66
237 Evaleen Ave #39	0.42mi	3/1.0	1,298 (-9%)	5mo	$128,750	$99	62
171 Hopper Rd	0.39mi	3/1.5	1,244 (-12%)	4mo	$198,000	$159	55
136 Weymouth Rd	0.73mi	3/1.5	1,508 (+6%)	6mo	$230,000	$153	49
604 W Ostrander Ave	0.74mi	2/2.5 (-1)	1,320 (-7%)	1mo	$201,000	$152	42

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.6%
• Equity multiple: 0.76×
• Total profit: $-11,908
• Equity at exit: $26,078

10-year hold

• IRR: 3.0%
• Equity multiple: 1.22×
• Total profit: $10,623
• Equity at exit: $15,122

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 13207

• Home prices YoY: -23.0%
• Active inventory: 63
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,680 high
• Mortgage (P&I): −$917
• Tax from tax record: −$78 /mo · $941/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $259

Break-even live

Break-even rent $1,352

Max offer price $174,900

Occupancy floor 80%

Sensitivity live

Price	-10% $358	-5% $308	+0% $259	+5% $209	+10% $160
Rent	-10% $126	-5% $193	+0% $259	+5% $325	+10% $392
Rate	-1.0pp $347	-0.5pp $303	base $259	+0.5pp $214	+1.0pp $168

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 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
154 Seeley Ave Syracuse, NY	4.0	1.0	1312	$2,100	$1.60	14d	1	0.36mi
300 Mains Ave Unit Bradford-7 Syracuse, NY	2.0	1.0	1200	$1,100	$0.92	14d	1	0.36mi
147 E Matson Ave Syracuse, NY	3.0	2.5	1421	$2,000	$1.41	22d	1	0.96mi
2331 Midland Ave Syracuse, NY	4.0	1.5	1664	$2,300	$1.38	22d	1	0.97mi
213 Fletcher Ave Unit 2 Syracuse, NY	3.0	1.0	1200	$1,700	$1.42	14d	1	1.13mi
102 Newbury Hollow Ln Syracuse, NY	2.0	1.5	1200	$1,550	$1.29	14d	1	1.13mi
116 Newbury Hollow Ln Syracuse, NY	1.0–2.0	1.0	825	$1,295	$1.57	14d	7	1.24mi
2859 S Salina St Unit 2 Syracuse, NY	2.0	1.0	1000	$1,200	$1.20	44d	1	1.26mi
683 E Seneca Tpke Syracuse, NY	1.0–2.0	1.0–2.0	937	$1,550	$1.65	14d	4	1.27mi

Listing history 4 events

1. 2026-06-18
   days on market $174,900 Active 3 DOM
2. 2026-06-17
   days on market $174,900 Active 2 DOM
3. 2026-06-15
   remarks 542-char remark
4. 2026-06-15
   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: $941 · $78/mo
• Projected year-2 tax: $1,948 · $162/mo
• Expected delta: +$1,008/yr (+$84/mo · 107.1%)

ⓘ 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 2/10 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: $20,163
• − Mortgage interest: −$9,797
• − Property taxes: −$941
• − Insurance: −$874
• − Repairs & maintenance: −$1,613
• − Management: −$1,613
• − Depreciation: −$5,088
• Taxable income: $237
• Est. tax owed @ 24.0%: −$57
• After-tax cash flow: $3,051/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): 12,383

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 43% Black 33% Hispanic / Latino 17% Two or more races 11% Native American 1% Asian 1%
• Hispanic origin (detail): Puerto Rican 13% Cuban 1%
• Common ancestry: Romanian 3% Lithuanian 1% Slovak 1%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 89% English-only · Spanish 9% French/Haitian/Cajun 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: ▼ -95.17%
• Current HPI: 318.9257
• 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

+84.9% since first listed

2 events — show timeline

• 2026-06-15 Listed $174,900 CNYIS
• 2019-10-31 Sold (Public Records) $94,600 Public Records

Property tax history

-0.3%/yr

Latest (2025): $941 · +0.3% YoY. Source: county tax records.