204 Center St · Solvay, NY 13209

$200,000

4 bd · 1.5 ba · 11,156 sqft · SingleFamily · 11 Days on market

Built 1920 8,820 sqft lot

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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 +22.5/30.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• 1% rule +5.9/10.0
• Livability +3.6/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Unique Opportunity! 9000 square foot church with 2156 square foot house on the same lot in the Village of Solvay. The Church has a commercial kitchen in the basement along with a fellowship all. There are a number of class rooms along with the main sanctuary with beautiful stain glass windows. The home has 4 beds and 1 1/2 baths.

Key facts

• Commercial kitchen
• Fellowship hall
• Stain glass windows

Tags

• COMMERCIAL KITCHEN
• FELLOWSHIP HALL
• CLASS ROOMS
• MAIN SANCTUARY
• STAIN GLASS WINDOWS

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $337 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).

Location & tenants

• Location reads 72/100 on livability (#350 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: employment D+, crime D, amenities F.
• Solvay Union Free School District (suburban): math 31% / reading 42% proficiency, ranked #550 of 590 in NY (top 93%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Solvay Elementary School (math 22% / reading 32%, grade F, #1,786 of 2,108 statewide, top 86%, 446 students, 65% FRL); Solvay Middle School (math 12% / reading 30%, grade F, #661 of 729 statewide, top 91%, 438 students, 70% FRL); Solvay High School (math 87% / reading 87%, grade A, #311 of 1,100 statewide, top 30%, 458 students, 71% FRL) — zoned schools average 69% FRL vs 46% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 58 active listings in the ZIP; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• This rent runs 38% of the median local income ($68k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $200,000

Questions for the listing agent

1. Built in 1920 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. Crime grade is D 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: 1.09% ✓
• Cap rate: 8.32%
• Cash-on-cash: 7.22%
• DSCR: 1.32
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -5.2%
• Equity multiple: 0.81×
• Total profit: $-10,903
• Equity at exit: $29,821

10-year hold

• IRR: 4.5%
• Equity multiple: 1.33×
• Total profit: $18,288
• Equity at exit: $17,292

Cash invested: $56,000 (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 13209

• Home prices YoY: -7.7%
• Active inventory: 58
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,176 medium
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$457
• Net cashflow: $337

Break-even live

Break-even rent $1,750

Max offer price $200,000

Occupancy floor 80%

Sensitivity live

Price	-10% $475	-5% $406	+0% $337	+5% $268	+10% $199
Rent	-10% $165	-5% $251	+0% $337	+5% $423	+10% $509
Rate	-1.0pp $438	-0.5pp $388	base $337	+0.5pp $285	+1.0pp $233

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2025-11-25
   status Pending
2. 2025-11-13
   listed $200,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $26,116
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,089
• − Management: −$2,089
• − Depreciation: −$5,818
• Taxable income: $916
• Est. tax owed @ 24.0%: −$220
• After-tax cash flow: $3,826/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: Solvay Union Free School District
• NCES district ID: 3627150
• Math proficiency: 31% ▼ -14.00%
• Reading proficiency: 42% ▼ -4.00%
• Median HH income: $47,163
• Composite: 31.28/100
• National rank: #6018
• State rank: #550 of 590 in NY

Livability — Solvay

• Score: 72/100
• State rank: #350
• US rank: #5913

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Solvay, NY
• County: Onondaga County · 247,257 people
• Metro: Syracuse, NY
• Population (ZIP): 12,714
• Household income: $68,138
• Rent vs Own: 29.6% rent · 70.4% own
• Severe rent burden: 210.0

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 (86%)
• Race & ethnicity: White 86% Two or more races 6% Hispanic / Latino 6% Black 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Romanian 11% Subsaharan African 6% Lithuanian 2%
• Foreign-born: 11% · Canada, China
• Languages at home: 87% English-only · Russian/Polish/Slavic 5% Spanish 3% Arabic 2%

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: ▼ -27.23%
• Current HPI: 326.7671
• Rent YoY: —
• 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

2 events — show timeline

• 2025-11-25 Pending — CNYIS
• 2025-11-13 Listed $200,000 CNYIS