101 Hobart Ave · Syracuse, NY 13205

$245,000

4 bd · 2.0 ba · 1,600 sqft · MultiFamily public records · 26 Days on market

Built 1925

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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 +25.2/30.0
• Appreciation +10.0/10.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Seller has decided not to move to the area and their loss is your gain. Home is mostly finished from being renovated and offers new flooring, updated painting and all new windows. Take advantage of this great price and use your efforts to finish the home renovations and start building your own equity.

Key facts

• Fresh upgrades
• Updated aesthetics
• Move in ready

Tags

• TWO COMPLETE KITCHENS
• EXTENSIVELY REMODELED
• MOVE IN READY
• FULLY FURNISHED
• FRESH UPGRADES
• UPDATED AESTHETICS

Property features AI

Exterior

• Home design: Built in 1925
• Construction: Living area approximately 1600
• Exterior features: Located in the Valley subdivision

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $245k.

Deal economics

• At list price, monthly cash flow is $551 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $245k).
• Recommended offer: $241k (1.5% below list) — sets the bar for market timing.

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: 68 active listings in the ZIP; 9 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).

Forward outlook

• In year one you build about $26k of equity ($2k loan paydown + $24k 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 $69k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($241k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y 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 $50k; list at $245k implies a 390% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $241,325 (1.5% below list)

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 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: 1.05% ✓
• Cap rate: 8.99%
• Cash-on-cash: 9.64%
• DSCR: 1.43
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $107,200
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
180 W Corning Ave	0.45mi	4/2.0	1,681 (+5%)	21mo	$69,900	$42	53
125 Forest Ave	0.64mi	5/2.0 (+1)	1,824 (+14%)	22mo	$123,000	$67	23

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: 31.3%
• Equity multiple: 3.46×
• Total profit: $168,441
• Equity at exit: $220,715

10-year hold

• IRR: 27.1%
• Equity multiple: 7.83×
• Total profit: $468,236
• Equity at exit: $475,981

Cash invested: $68,600 (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: 68
• Price-to-rent: 15.9×

Monthly cashflow live

• Estimated rent: $2,565 high
• Mortgage (P&I): −$1,285
• Tax from tax record: −$88 /mo · $1,060/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$539
• Net cashflow: $551

Break-even live

Break-even rent $1,867

Max offer price $245,000

Occupancy floor 74%

Sensitivity live

Price	-10% $690	-5% $620	+0% $551	+5% $482	+10% $412
Rent	-10% $349	-5% $450	+0% $551	+5% $652	+10% $754
Rate	-1.0pp $675	-0.5pp $613	base $551	+0.5pp $488	+1.0pp $423

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,564
Total (2 units)			$2,565

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
147 E Matson Ave Syracuse, NY	3.0	2.5	1421	$2,000	$1.41	22d	1	0.07mi
102 Newbury Hollow Ln Syracuse, NY	3.0	2.0	2000	$2,300	$1.15	45d	1	0.33mi
2331 Midland Ave Syracuse, NY	4.0	1.5	1664	$2,300	$1.38	22d	1	0.43mi
154 Seeley Ave Syracuse, NY	4.0	1.0	1312	$2,100	$1.60	14d	1	0.77mi
260 Robert Dr Syracuse, NY	3.0	1.5	1200	$2,097	$1.75	45d	1	0.99mi
259 Robert Dr Syracuse, NY	3.0	1.5	1350	$699	$0.52	45d	1	1.00mi
1330 Midland Ave Syracuse, NY	4.0	1.0	1870	$2,000	$1.07	22d	1	1.02mi
269 W Borden Ave Syracuse, NY	4.0	1.5	1800	$650	$0.36	22d	1	1.06mi
213 Fletcher Ave Unit 2 Syracuse, NY	3.0	1.0	1200	$1,700	$1.42	14d	1	1.30mi

Listing history 40 events

1. 2026-06-21
   days on market $245,000 Active 26 DOM
2. 2026-06-18
   days on market $245,000 Active 23 DOM
3. 2026-06-17
   days on market $245,000 Active 22 DOM
4. 2026-06-16
   days on market $245,000 Active 21 DOM
5. 2026-06-15
   days on market $245,000 Active 20 DOM
6. 2026-06-14
   days on market $245,000 Active 18 DOM
7. 2026-06-13
   days on market $245,000 Active 17 DOM
8. 2026-06-10
   days on market $245,000 Active 15 DOM
9. 2026-06-09
   days on market $245,000 Active 14 DOM
10. 2026-06-08
    days on market $245,000 Active 13 DOM
11. 2026-06-07
    days on market $245,000 Active 12 DOM
12. 2026-06-05
    days on market $245,000 Active 9 DOM
13. 2026-06-02
    days on market $245,000 Active 7 DOM
14. 2026-06-01
    days on market $245,000 Active 6 DOM
15. 2026-05-31
    days on market $245,000 Active 5 DOM
16. 2026-05-30
    days on market $245,000 Active 4 DOM
17. 2026-05-26
    listed $245,000 Active
18. 2023-03-10
    soldstatus $50,000
19. 2023-03-06
    soldstatus $50,000 Closed Sale or Rented 302-char remark

    Show marketing remark (302 chars)

    Seller has decided not to move to the area and their loss is your gain. Home is mostly finished from being renovated and offers new flooring, updated painting and all new windows. Take advantage of this great price and use your efforts to finish the home renovations and start building your own equity.

20. 2023-02-06
    status Pending Sale 302-char remark

    Show marketing remark (302 chars)

    Seller has decided not to move to the area and their loss is your gain. Home is mostly finished from being renovated and offers new flooring, updated painting and all new windows. Take advantage of this great price and use your efforts to finish the home renovations and start building your own equity.

21. 2023-01-30
    historical Continue to Show- Under Contract 302-char remark

    Show marketing remark (302 chars)

    Seller has decided not to move to the area and their loss is your gain. Home is mostly finished from being renovated and offers new flooring, updated painting and all new windows. Take advantage of this great price and use your efforts to finish the home renovations and start building your own equity.

22. 2023-01-27
    price $60,000 302-char remark

    Show marketing remark (302 chars)

    Seller has decided not to move to the area and their loss is your gain. Home is mostly finished from being renovated and offers new flooring, updated painting and all new windows. Take advantage of this great price and use your efforts to finish the home renovations and start building your own equity.

23. 2023-01-13
    status Active 302-char remark

    Show marketing remark (302 chars)

    Seller has decided not to move to the area and their loss is your gain. Home is mostly finished from being renovated and offers new flooring, updated painting and all new windows. Take advantage of this great price and use your efforts to finish the home renovations and start building your own equity.

24. 2023-01-04
    historical Continue to Show- Under Contract 302-char remark

    Show marketing remark (302 chars)

    Seller has decided not to move to the area and their loss is your gain. Home is mostly finished from being renovated and offers new flooring, updated painting and all new windows. Take advantage of this great price and use your efforts to finish the home renovations and start building your own equity.

25. 2022-12-10
    price $65,000 302-char remark

    Show marketing remark (302 chars)

    Seller has decided not to move to the area and their loss is your gain. Home is mostly finished from being renovated and offers new flooring, updated painting and all new windows. Take advantage of this great price and use your efforts to finish the home renovations and start building your own equity.

26. 2022-11-19
    listed $72,000 Active 302-char remark

    Show marketing remark (302 chars)

    Seller has decided not to move to the area and their loss is your gain. Home is mostly finished from being renovated and offers new flooring, updated painting and all new windows. Take advantage of this great price and use your efforts to finish the home renovations and start building your own equity.

27. 2022-09-27
    soldstatus $38,000
28. 2022-09-22
    status Pending Sale
29. 2022-09-22
    soldstatus $38,000 Closed Sale or Rented
30. 2022-08-09
    historical Continue to Show- Under Contract
31. 2022-08-02
    price $35,000
32. 2022-07-26
    listed $42,000 Active
33. 2017-06-06
    soldstatus $47,700
34. 2017-06-05
    soldstatus $47,700 Closed Sale or Rented
35. 2017-04-07
    historical Under Contract- Do Not Show
36. 2016-05-25
    price $49,900
37. 2015-12-02
    listed $52,900 Active
38. 2014-08-28
    soldstatus $10,000
39. 2007-02-02
    soldstatus $21,000
40. 2007-02-02
    soldstatus $35,000

ⓘ 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: $1,060 · $88/mo
• Projected year-2 tax: $2,600 · $217/mo
• Expected delta: +$1,540/yr (+$128/mo · 145.3%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°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: $30,780
• − Mortgage interest: −$13,724
• − Property taxes: −$1,060
• − Insurance: −$1,225
• − Repairs & maintenance: −$2,462
• − Management: −$2,462
• − Depreciation: −$7,127
• Taxable income: $2,719
• Est. tax owed @ 24.0%: −$653
• After-tax cash flow: $5,961/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

+1066.7% since first listed

24 events — show timeline

• 2026-05-26 Listed $245,000 FSBO.com
• 2023-03-10 Sold (Public Records) $50,000 Public Records
• 2023-03-06 Sold (MLS) $50,000 CNYIS
• 2023-02-06 Pending — CNYIS
• 2023-01-30 Contingent — CNYIS
• 2023-01-27 Price Changed $60,000 CNYIS
• 2023-01-13 Relisted — CNYIS
• 2023-01-04 Contingent — CNYIS
• 2022-12-10 Price Changed $65,000 CNYIS
• 2022-11-19 Listed $72,000 CNYIS
• 2022-09-27 Sold (Public Records) $38,000 Public Records
• 2022-09-22 Pending — CNYIS
• 2022-09-22 Sold (MLS) $38,000 CNYIS
• 2022-08-09 Contingent — CNYIS
• 2022-08-02 Price Changed $35,000 CNYIS
• 2022-07-26 Listed $42,000 CNYIS
• 2017-06-06 Sold (Public Records) $47,700 Public Records
• 2017-06-05 Sold (MLS) $47,700 CNYIS
• 2017-04-07 Contingent — CNYIS
• 2016-05-25 Price Changed $49,900 CNYIS
• 2015-12-02 Listed $52,900 CNYIS
• 2014-08-28 Sold (Public Records) $10,000 Public Records
• 2007-02-02 Sold (Public Records) $35,000 Public Records
• 2007-02-02 Sold (Public Records) $21,000 Public Records

Property tax history

+4.9%/yr

Latest (2025): $1,060 · +0.0% YoY. Source: county tax records.