201 Onondaga Ave · Syracuse, NY 13207

$245,000

6 bd · 3.0 ba · 4,308 sqft · MultiFamily public records · 19 Days on market

Built 1900 7,657 sqft lot

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Multi-family units

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

Listing remarks

Excellent investment opportunity near the desirable Strathmore area! This well-maintained three-unit property sits on a prominent corner lot and features beautiful natural woodwork, high ceilings, and classic architectural charm throughout. The property is fully occupied with three long-term tenants, providing immediate and stable rental income. Conveniently located near shopping, restaurants, and everyday amenities, including Wegmans and Dunkin'. Close to Western Lights Plaza, major roadways, and downtown Syracuse. A great addition to any investment portfolio. Can be sold with MLS numbers: Oak St. S1676047, South Ave. S1675750, Spring Str. S1676432, Midland Ave. S16777194,

Key facts

• Natural woodwork
• Near shopping
• Stable rental income

Tags

• CORNER LOT
• NATURAL WOODWORK
• HIGH CEILINGS
• ARCHITECTURAL CHARM
• STABLE RENTAL INCOME
• NEAR SHOPPING

Property features AI

Finance

• Financial info: Three rental units total; Each unit has separate gas and electric meters; Owner pays water; tenants pay all other utilities; Operating expenses include maintenance and water; Current rents listed per unit: $700, $800, $700

Exterior

• Parking: Paved parking
• Utilities: Public water connected; Sewer connected
• Home design: 2-story building; Resale property
• Construction: Frame and stone construction; Block foundation; Existing (built previously)
• Exterior features: Irregular lot; Near public transit; Residential lot; City street frontage

Interior

• Kitchen: Oven/range; Refrigerator; Eat-in kitchen (in some units)
• Bedrooms: One 1-bedroom unit; One 2-bedroom unit; One 3-bedroom unit
• Flooring: Ceramic tile; Vinyl; Varies
• Bathrooms: Three full bathrooms; One half bathroom
• Heating & cooling: Forced air heating; Electric heating; Gas heating
• Interior features: Full basement
• Laundry & utility: Electric water heater; Gas water heater

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath multifamily listed at $245k.

Deal economics

• At list price, monthly cash flow is $3k ($35k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $245k).
• Recommended offer: $241k (1.5% below list) — sets the bar for market timing.
• Cap rate 20.5% 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: 63 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $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 + 3.0% rent growth), your $69k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($241k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y 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 $54k; list at $245k implies a 354% 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 $241,325 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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: 2.28% ✓
• Cap rate: 20.48%
• Cash-on-cash: 50.66%
• DSCR: 3.25
• GRM: 3.7

CMA / ARV

• ARV (on-the-fly): $155,088
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
905-07 Tallman St	0.22mi	6/4.0	4,293 (-0%)	8mo	$320,000	$75	79
108 Onondaga Ave	0.09mi	7/4.0 (+1)	4,352 (+1%)	8mo	$52,000	$12	78
600 W Onondaga St Unit ///	0.50mi	6/3.0	4,048 (-6%)	11mo	$300,000	$74	58
436 Seymour St	0.64mi	6/4.0	4,092 (-5%)	15mo	$130,000	$32	45
115 Merriman Ave	0.50mi	5/— (-1)	3,940 (-8%)	21mo	$139,900	$36	40
111- 113 Grace St	0.46mi	6/2.0	3,786 (-12%)	19mo	$55,000	$15	38

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: 48.4%
• Equity multiple: 3.11×
• Total profit: $144,732
• Equity at exit: $36,530

10-year hold

• IRR: 54.0%
• Equity multiple: 6.30×
• Total profit: $363,457
• Equity at exit: $21,183

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 13207

• Home prices YoY: -23.0%
• Active inventory: 63
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $5,592 high
• Mortgage (P&I): −$1,285
• Tax from tax record: −$135 /mo · $1,616/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,174
• Net cashflow: $2,896

Break-even live

Break-even rent $1,926

Max offer price $245,000

Occupancy floor 43%

Sensitivity live

Price	-10% $3,035	-5% $2,965	+0% $2,896	+5% $2,827	+10% $2,757
Rent	-10% $2,454	-5% $2,675	+0% $2,896	+5% $3,117	+10% $3,338
Rate	-1.0pp $3,019	-0.5pp $2,958	base $2,896	+0.5pp $2,833	+1.0pp $2,768

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$5,592
Total (3 units)			$5,592

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 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
367 Furman St Unit 1 Syracuse, NY	5.0	1.0	3138	$1,800	$0.57	21d	1	0.47mi

Listing history 15 events

1. 2026-06-18
   days on market $245,000 Active 19 DOM
2. 2026-06-17
   days on market $245,000 Active 18 DOM
3. 2026-06-16
   days on market $245,000 Active 17 DOM
4. 2026-06-15
   days on market $245,000 Active 16 DOM
5. 2026-06-14
   days on market $245,000 Active 14 DOM
6. 2026-06-13
   days on market $245,000 Active 13 DOM
7. 2026-06-10
   days on market $245,000 Active 11 DOM
8. 2026-06-09
   days on market $245,000 Active 10 DOM
9. 2026-06-08
   days on market $245,000 Active 9 DOM
10. 2026-06-07
    days on market $245,000 Active 8 DOM
11. 2026-06-05
    days on market $245,000 Active 5 DOM
12. 2026-06-02
    days on market $245,000 Active 3 DOM
13. 2026-06-01
    days on market $245,000 Active 2 DOM
14. 2026-05-30
    remarks 699-char remark
15. 2026-05-30
    listed $245,000 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: $1,616 · $135/mo
• Projected year-2 tax: $2,878 · $240/mo
• Expected delta: +$1,262/yr (+$105/mo · 78.1%)

ⓘ 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 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: $67,104
• − Mortgage interest: −$13,724
• − Property taxes: −$1,616
• − Insurance: −$1,225
• − Repairs & maintenance: −$5,368
• − Management: −$5,368
• − Depreciation: −$7,127
• Taxable income: $32,675
• Est. tax owed @ 24.0%: −$7,842
• After-tax cash flow: $26,911/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

+353.7% since first listed

3 events — show timeline

• 2026-05-30 Listed $245,000 CNYIS
• 2011-03-09 Listed $79,900 WNYREIS
• 2005-08-31 Sold (Public Records) $54,000 Public Records

Property tax history

+0.0%/yr

Latest (2025): $1,616 · +0.0% YoY. Source: county tax records.