2600 South Ave · Syracuse, NY 13215

$125,000

2 bd · 1.0 ba · 1,088 sqft · SingleFamily public records · 28 Days on market

Built 1929 5,227 sqft lot Est $164k · 24% under

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Why this score? — see what drove the B 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 +29.6/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.4/10.0
• Rent growth +4.1/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

HUD home. Selling 'as-is'. Buyer to verify all information including zoning and C of O ordinance. Streamline K eligible FHA financing. Case #371-349655

Key facts

• 5,227 sq ft lot
• Built 1929
• Listed 28 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water connected; Sewer connected
• Home design: 2-story home; Existing construction
• Construction: Vinyl siding; Block foundation
• Exterior features: Corner lot; Rectangular lot; See remarks for additional exterior details

Interior

• Kitchen: Electric oven; Electric range; Refrigerator
• Bedrooms: Total of 7 rooms (includes bedroom counts within total rooms)
• Flooring: Laminate flooring; Varies
• Bathrooms: 1 full bathroom; 1 half bathroom; 1 main-level bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Eat-in kitchen
• Laundry & utility: Laundry located in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $396 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 8.2% in Syracuse — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 (+6.4%/yr); 63 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• This rent is only 16% of the median local income ($114k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k 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 + 6.4% rent growth), your $35k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y 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 $26k; list at $125k implies a 381% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1929 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,125 (1.5% below list)

Questions for the listing agent

1. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.24% ✓
• Cap rate: 10.63%
• Cash-on-cash: 15.48%
• DSCR: 1.69
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $164,288
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
110 Cornell Ave	0.11mi	2/1.0	1,008 (-7%)	3mo	$151,500	$150	80
407 Mitchell Ave Ave	0.25mi	3/2.0 (+1)	1,008 (-7%)	9mo	$205,000	$203	59
500 Glenwood Ave	0.67mi	3/1.5 (+1)	1,092 (+0%)	10mo	$165,000	$151	53
106 Fairfield Ave	0.57mi	2/1.0	998 (-8%)	11mo	$150,000	$150	50
608 Barnes Ave	0.59mi	3/1.0 (+1)	1,092 (+0%)	22mo	$177,000	$162	49
815 Valley Dr	0.71mi	3/1.0 (+1)	1,144 (+5%)	17mo	$82,000	$72	39
4814 Mcdonald Rd	0.74mi	3/1.0 (+1)	1,204 (+11%)	6mo	$280,000	$233	38
154 St. Louis Ave	0.53mi	3/2.0 (+1)	936 (-14%)	8mo	$165,000	$176	37
110 Shirley Dr	0.72mi	3/1.0 (+1)	1,001 (-8%)	19mo	$140,000	$140	32
603 Atlantic Ave	0.72mi	3/1.0 (+1)	1,154 (+6%)	23mo	$135,000	$117	32
125 Saint Louis Ave	0.61mi	3/2.0 (+1)	936 (-14%)	12mo	$165,000	$176	29
421 Glenwood Ave	0.65mi	3/1.0 (+1)	1,248 (+15%)	23mo	$125,100	$100	21

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 · 6.42% rent growth · sell at horizon

5-year hold

• IRR: 7.4%
• Equity multiple: 1.30×
• Total profit: $10,456
• Equity at exit: $18,638

10-year hold

• IRR: 19.4%
• Equity multiple: 2.88×
• Total profit: $65,777
• Equity at exit: $10,808

Cash invested: $35,000 (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 13215

• Home prices YoY: -8.0%
• Rents YoY: 6.4%
• Active inventory: 63
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,545 high
• Mortgage (P&I): −$656
• Tax from tax record: −$61 /mo · $738/yr
• Insurance: −$52
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $396

Break-even live

Break-even rent $1,044

Max offer price $125,000

Occupancy floor 69%

Sensitivity live

Price	-10% $467	-5% $431	+0% $396	+5% $361	+10% $325
Rent	-10% $274	-5% $335	+0% $396	+5% $457	+10% $518
Rate	-1.0pp $459	-0.5pp $428	base $396	+0.5pp $363	+1.0pp $331

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
213 Fletcher Ave Unit 2 Syracuse, NY	3.0	1.0	1200	$1,700	$1.42	14d	1	0.42mi
300 Mains Ave Unit Bradford-7 Syracuse, NY	2.0	1.0	1200	$1,100	$0.92	14d	1	0.68mi
508-10 W Brighton Ave Syracuse, NY	2.0	1.0	735	$1,350	$1.84	14d	13	1.09mi
140 Westbrook Hills Dr Syracuse, NY	1.0–2.0	1.0	942	$1,665	$1.77	14d	21	1.28mi
409 Stolp Ave Syracuse, NY	1.0–3.0	1.0	849	$1,262	$1.49	14d	5	1.37mi
5111 Ball Rd Syracuse, NY	1.0–2.0	1.0–1.5	1138	$1,820	$1.60	14d	16	1.44mi

Listing history 21 events

1. 2026-06-18
   days on market $125,000 Active 28 DOM
2. 2026-06-17
   days on market $125,000 Active 27 DOM
3. 2026-06-16
   days on market $125,000 Active 26 DOM
4. 2026-06-15
   days on market $125,000 Active 25 DOM
5. 2026-06-14
   days on market $125,000 Active 23 DOM
6. 2026-06-13
   days on market $125,000 Active 22 DOM
7. 2026-06-10
   days on market $125,000 Active 20 DOM
8. 2026-06-09
   days on market $125,000 Active 19 DOM
9. 2026-06-08
   days on market $125,000 Active 18 DOM
10. 2026-06-07
    days on market $125,000 Active 17 DOM
11. 2026-06-05
    days on market $125,000 Active 14 DOM
12. 2026-06-02
    days on market $125,000 Active 12 DOM
13. 2026-06-01
    days on market $125,000 Active 11 DOM
14. 2026-05-31
    days on market $125,000 Active 10 DOM
15. 2026-05-30
    days on market $125,000 Active 9 DOM
16. 2026-05-21
    listed $125,000 Active
17. 2010-06-15
    historical 151-char remark

    Show marketing remark (151 chars)

    HUD home. Selling 'as-is'. Buyer to verify all information including zoning and C of O ordinance. Streamline K eligible FHA financing. Case #371-349655

18. 2010-06-14
    soldstatus $26,000 151-char remark

    Show marketing remark (151 chars)

    HUD home. Selling 'as-is'. Buyer to verify all information including zoning and C of O ordinance. Streamline K eligible FHA financing. Case #371-349655

19. 2010-06-10
    soldstatus $26,000
20. 2010-02-26
    listed $40,000 151-char remark

    Show marketing remark (151 chars)

    HUD home. Selling 'as-is'. Buyer to verify all information including zoning and C of O ordinance. Streamline K eligible FHA financing. Case #371-349655

21. 2005-07-07
    soldstatus $67,000

ⓘ 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: $738 · $61/mo
• Projected year-2 tax: $1,425 · $119/mo
• Expected delta: +$687/yr (+$57/mo · 93.2%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 6 d/yr ≥95°F today · 14 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: $18,539
• − Mortgage interest: −$7,002
• − Property taxes: −$738
• − Insurance: −$1,292
• − Repairs & maintenance: −$1,483
• − Management: −$1,483
• − Depreciation: −$3,636
• Taxable income: $2,905
• Est. tax owed @ 24.0%: −$697
• After-tax cash flow: $4,053/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): 14,751
• Household income: $113,864
• Rent vs Own: 17.6% rent · 82.4% own
• Severe rent burden: 254.0

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 (84%)
• Race & ethnicity: White 84% Black 7% Two or more races 5% Hispanic / Latino 4% Asian 1%
• Common ancestry: Romanian 8% Lithuanian 4% Subsaharan African 3%
• Foreign-born: 4% · Canada, China, South Korea
• Languages at home: 94% English-only · Spanish 2% Russian/Polish/Slavic 1% Chinese 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: ▼ -25.54%
• Current HPI: 294.8783
• Rent YoY: ▲ 6.42%
• 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

+86.6% since first listed

6 events — show timeline

• 2026-05-21 Listed $125,000 CNYIS
• 2010-06-15 Listing Removed — UNYREIS
• 2010-06-14 Sold (MLS) $26,000 UNYREIS
• 2010-06-10 Sold (Public Records) $26,000 Public Records
• 2010-02-26 Listed $40,000 UNYREIS
• 2005-07-07 Sold (Public Records) $67,000 Public Records

Property tax history

-3.2%/yr

Latest (2025): $738 · +0.0% YoY. Source: county tax records.