147 Steuben St · Syracuse, NY 13208

$89,000

3 bd · 2.0 ba · 1,312 sqft · Condo public records · 14 Days on market

Built 1905 $68/sqft · 22% above area Est $73k · 22% over

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

Listing remarks MLS

Unlock the potential of this hidden gem located in the Northside of Syracuse. With the right vision and a bit of TLC, you can transform this home into a valuable asset. For front apartment, tenant is currently paying $700/month and $1,000/month for rear apartment. Don’t miss out—schedule your private tour today and seize your next great investment opportunity. Property will be sold “AS-IS” and as a package (total of four properties), they are as follow: MLS#: S1639340 (1021 N. Townsend St), MLS#: S1639335 (202 union Ave), MLS#: S1639323 (147 Steuben St), and MLS#: S1639308 (128 John St) Note for all buyers: THE BEST AND MOST CONVENIENCE WAY FOR BUYER, SELLER, AND TENANTS IS TO SUBMIT YOUR CONDITIONAL OFFER CONTINGENT ON SELLER TO SHOW PROPERTIES AND/OR HOME INSPECTION. Buyers shall honor existing LEASES.

Key facts

• Tenant occupied
• Income potential
• Below market value

Tags

• INVESTMENT OPPORTUNITY
• INCOME POTENTIAL
• VACANT UNIT
• TENANT OCCUPIED
• BELOW MARKET VALUE
• CONVENIENTLY LOCATED

Property features AI

Finance

• Financial info: Owner pays water; Rent includes water; Unit 1 rent: $1,000; Unit 2 rent: $900; Operating expense includes insurance; Property configured with separate gas and electric meters for each unit

Exterior

• Parking: Paved parking with two or more spaces
• Utilities: Public water (connected); Sewer connected
• Home design: Single-story building (1 story); Multi-family property with 2 total units
• Construction: Vinyl siding; Asphalt roof; Block and stone foundation; Existing (year built details)
• Exterior features: Rectangular lot; Main thoroughfare frontage; Paved parking

Interior

• Kitchen: Oven/Range; Refrigerator
• Bedrooms: Unit 1: 3 bedrooms; Unit 2: 1 bedroom
• Flooring: Hardwood; Laminate; Vinyl; Varies
• Bathrooms: 2 full bathrooms total (each unit has 1 full bathroom)
• Heating & cooling: Gas forced-air heating; Has heating
• Interior features: Full basement; Fireplace (1); Den/Family room; Dining area with kitchen; Eat-in kitchen; Laundry in unit; Resale condition
• Laundry & utility: Laundry in unit

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $89k.

Deal economics

• At list price, monthly cash flow is $764 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $89k).
• Cap rate 16.6% 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: 99 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 59% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• At $1,728/mo this rent would consume 46% of the median local household income ($45k/yr) (locally 1437% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $10k of equity ($615 loan paydown + $9k 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 $25k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 5y 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 $70k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,000

Questions for the listing agent

1. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 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: 1.94% ✓
• Cap rate: 16.59%
• Cash-on-cash: 36.79%
• DSCR: 2.64
• GRM: 4.3

CMA / ARV

• ARV (median comp): $72,760
• List price: $89,000
• Delta: 22.32%
• Verdict: OVERPRICED
• Comps: 2 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
144 Steuben St	0.03mi	4/1.0 (+1)	1,344 (+2%)	2mo	$85,000	$63	84

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: 52.6%
• Equity multiple: 4.90×
• Total profit: $97,146
• Equity at exit: $80,178

10-year hold

• IRR: 46.2%
• Equity multiple: 10.95×
• Total profit: $247,851
• Equity at exit: $172,907

Cash invested: $24,920 (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 13208

• Home prices YoY: 8.4%
• Active inventory: 99
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,728 high
• Mortgage (P&I): −$467
• Tax from tax record: −$97 /mo · $1,170/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $764

Break-even live

Break-even rent $761

Max offer price $89,000

Occupancy floor 51%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
807-13 N Salina St Unit 809A Syracuse, NY	2.0	1.0	1020	$1,325	$1.30	44d	1	0.28mi
912 Park St Unit 1 Syracuse, NY	3.0	1.0	1040	$1,200	$1.15	44d	1	0.37mi
610 E Division St Unit F2 Syracuse, NY	2.0	1.0	900	$1,150	$1.28	44d	1	0.38mi
1507 N Salina St Unit 3 Syracuse, NY	3.0	2.0	1030	$1,350	$1.31	44d	1	0.42mi
721 N Clinton St Unit 105 Syracuse, NY	2.0	2.0	1000	$1,475	$1.48	44d	1	0.43mi
721 N Clinton St Unit 213 Syracuse, NY	2.0	2.0	1000	$1,550	$1.55	44d	1	0.43mi
210 W Division St Unit 24 Syracuse, NY	2.0	2.0	1200	$1,850	$1.54	21d	1	0.46mi
210 W Division St Unit 87 Syracuse, NY	2.0	2.0	1200	$1,750	$1.46	44d	1	0.48mi
746 E Laurel St Unit 1 Syracuse, NY	4.0	2.0	1400	$1,500	$1.07	44d	1	0.67mi
373 Spencer St Unit 303 Syracuse, NY	2.0	1.5	1085	$1,850	$1.71	44d	1	0.67mi
416 Pearl St Unit 2 Syracuse, NY	3.0	1.0	900	$2,400	$2.67	13d	1	0.82mi
286 Ross Park Syracuse, NY	3.0	1.0	1100	$1,500	$1.36	44d	1	0.88mi
126 Woodruff Ave Syracuse, NY	3.0	1.0	1200	$1,675	$1.40	44d	1	0.92mi
208 W Water St Syracuse, NY	2.0	2.0	962	$1,800	$1.87	44d	1	1.05mi
205A Hawley Ave Unit 211C Syracuse, NY	3.0	2.5	1350	$1,675	$1.24	44d	1	1.05mi
205A Hawley Ave Unit 213C Syracuse, NY	3.0	2.5	1350	$1,650	$1.22	44d	1	1.05mi
1132 Wolf St Unit 4 Syracuse, NY	3.0	1.0	1041	$1,350	$1.30	44d	1	1.06mi
324 W Water St Syracuse, NY	2.0	1.0	1007	$1,975	$1.96	13d	6	1.07mi
324 W Water St Unit 106 Syracuse, NY	2.0	1.0	1436	$2,095	$1.46	21d	1	1.07mi
538 Erie Blvd W Syracuse, NY	2.0	2.0	1110	$2,100	$1.89	21d	1	1.18mi
129 W Fayette St Unit 217 Syracuse, NY	2.0	2.0	1100	$1,550	$1.41	13d	1	1.20mi
317 S Clinton St Unit 4A Syracuse, NY	2.0	1.5	1500	$2,100	$1.40	13d	1	1.23mi
317 S Clinton St Unit 3A Syracuse, NY	2.0	2.0	1500	$2,100	$1.40	44d	1	1.23mi
110 Walton St Unit 301 Syracuse, NY	2.0	2.0	1051	$2,000	$1.90	21d	1	1.23mi
110 Walton St Unit 201 Syracuse, NY	2.0	2.0	1051	$2,200	$2.09	44d	1	1.23mi
120 Walton St Syracuse, NY	1.0–2.0	1.0–2.0	825	$3,200	$3.88	44d	2	1.23mi
319 S Salina St Syracuse, NY	2.0	2.0	1860	$2,000	$1.08	21d	1	1.25mi
321 S Salina St Unit 501 Syracuse, NY	2.0	1.0	1446	$3,000	$2.07	44d	1	1.25mi
321 S Salina St Unit 201 Syracuse, NY	2.0	1.0	1446	$2,450	$1.69	44d	1	1.25mi
525 Burnet Ave Unit First Floor Syracuse, NY	3.0	1.0	900	$1,650	$1.83	44d	1	1.28mi
423 Wendell Ter Syracuse, NY	4.0	1.0	1312	$2,500	$1.91	13d	1	1.29mi
201 E Jefferson St Syracuse, NY	2.0	1.0	662	$1,626	$2.45	13d	9	1.32mi
205 E Jefferson St Unit 2B Syracuse, NY	2.0	2.5	1100	$2,200	$2.00	21d	1	1.33mi
100 Buckley Rd Liverpool, NY	1.0–2.0	1.0–2.0	985	$3,850	$3.91	13d	1	1.42mi
472 S Salina St Syracuse, NY	1.0–2.0	1.0	1022	$2,095	$2.05	13d	3	1.44mi
111 E Onondaga St Syracuse, NY	1.0–2.0	1.0–2.0	1150	$3,000	$2.61	21d	5	1.45mi
60 Presidential Plz Syracuse, NY	1.0–2.0	1.0–1.5	970	$1,315	$1.36	44d	1	1.50mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-05-13
   listed $89,000 Active 1056-char remark
2. 2026-02-10
   soldstatus $69,900
3. 2025-12-29
   soldstatus $69,900 Closed 846-char remark

   Show marketing remark (846 chars)

   Unlock the potential of this hidden gem located in the Northside of Syracuse. With the right vision and a bit of TLC, you can transform this home into a valuable asset. For front apartment, tenant is currently paying $700/month and $1,000/month for rear apartment. Don’t miss out—schedule your private tour today and seize your next great investment opportunity. Property will be sold “AS-IS” and as a package (total of four properties), they are as follow: MLS#: S1639340 (1021 N. Townsend St), MLS#: S1639335 (202 union Ave), MLS#: S1639323 (147 Steuben St), and MLS#: S1639308 (128 John St) Note for all buyers: THE BEST AND MOST CONVENIENCE WAY FOR BUYER, SELLER, AND TENANTS IS TO SUBMIT YOUR CONDITIONAL OFFER CONTINGENT ON SELLER TO SHOW PROPERTIES AND/OR HOME INSPECTION. Buyers shall honor existing LEASES.

4. 2025-10-06
   status Pending 846-char remark

   Show marketing remark (846 chars)

   Unlock the potential of this hidden gem located in the Northside of Syracuse. With the right vision and a bit of TLC, you can transform this home into a valuable asset. For front apartment, tenant is currently paying $700/month and $1,000/month for rear apartment. Don’t miss out—schedule your private tour today and seize your next great investment opportunity. Property will be sold “AS-IS” and as a package (total of four properties), they are as follow: MLS#: S1639340 (1021 N. Townsend St), MLS#: S1639335 (202 union Ave), MLS#: S1639323 (147 Steuben St), and MLS#: S1639308 (128 John St) Note for all buyers: THE BEST AND MOST CONVENIENCE WAY FOR BUYER, SELLER, AND TENANTS IS TO SUBMIT YOUR CONDITIONAL OFFER CONTINGENT ON SELLER TO SHOW PROPERTIES AND/OR HOME INSPECTION. Buyers shall honor existing LEASES.

5. 2025-09-19
   listed $69,900 Active 846-char remark

   Show marketing remark (846 chars)

   Unlock the potential of this hidden gem located in the Northside of Syracuse. With the right vision and a bit of TLC, you can transform this home into a valuable asset. For front apartment, tenant is currently paying $700/month and $1,000/month for rear apartment. Don’t miss out—schedule your private tour today and seize your next great investment opportunity. Property will be sold “AS-IS” and as a package (total of four properties), they are as follow: MLS#: S1639340 (1021 N. Townsend St), MLS#: S1639335 (202 union Ave), MLS#: S1639323 (147 Steuben St), and MLS#: S1639308 (128 John St) Note for all buyers: THE BEST AND MOST CONVENIENCE WAY FOR BUYER, SELLER, AND TENANTS IS TO SUBMIT YOUR CONDITIONAL OFFER CONTINGENT ON SELLER TO SHOW PROPERTIES AND/OR HOME INSPECTION. Buyers shall honor existing LEASES.

6. 2023-12-05
   historical
7. 2023-10-26
   status Active
8. 2023-10-16
   historical Continue to Show- Under Contract
9. 2023-10-11
   price $64,000
10. 2023-09-20
    listed $72,000 Active
11. 2021-10-31
    historical
12. 2021-10-03
    price $50,000
13. 2021-08-29
    status Active
14. 2021-06-28
    historical Continue to Show- Under Contract
15. 2021-05-18
    price $60,000
16. 2021-04-24
    listed $65,000 Active
17. 2005-06-17
    soldstatus $22,000
18. 2002-08-15
    soldstatus $10,000

ⓘ 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: $1,170 · $97/mo
• Projected year-2 tax: $1,337 · $111/mo
• Expected delta: +$167/yr (+$14/mo · 14.3%)

ⓘ 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
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,738
• − Mortgage interest: −$4,985
• − Property taxes: −$1,170
• − Insurance: −$445
• − Repairs & maintenance: −$1,659
• − Management: −$1,659
• − Depreciation: −$2,589
• Taxable income: $8,231
• Est. tax owed @ 24.0%: −$1,975
• After-tax cash flow: $7,192/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): 22,993
• Household income: $44,712
• Rent vs Own: 50.8% rent · 49.2% own
• Severe rent burden: 1437.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 46% Black 24% Asian 14% Two or more races 10% Hispanic / Latino 6%
• Hispanic origin (detail): Puerto Rican 4% Dominican 1%
• Common ancestry: Romanian 3% Swedish 3% Italian 1%
• Foreign-born: 22% · Vietnam, Philippines, Canada
• Languages at home: 70% English-only · Spanish 6% Other Asian/Pacific 5% Vietnamese 4%

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: ▲ 30.91%
• Current HPI: 399.3284
• 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

+790.0% since first listed

19 events — show timeline

• 2026-05-27 Pending — CNYIS
• 2026-05-13 Listed $89,000 CNYIS
• 2026-02-10 Sold (Public Records) $69,900 Public Records
• 2025-12-29 Sold (MLS) $69,900 CNYIS
• 2025-10-06 Pending — CNYIS
• 2025-09-19 Listed $69,900 CNYIS
• 2023-12-05 Listing Removed — CNYIS
• 2023-10-26 Relisted — CNYIS
• 2023-10-16 Contingent — CNYIS
• 2023-10-11 Price Changed $64,000 CNYIS
• 2023-09-20 Listed $72,000 CNYIS
• 2021-10-31 Listing Removed — CNYIS
• 2021-10-03 Price Changed $50,000 CNYIS
• 2021-08-29 Relisted — CNYIS
• 2021-06-28 Contingent — CNYIS
• 2021-05-18 Price Changed $60,000 CNYIS
• 2021-04-24 Listed $65,000 CNYIS
• 2005-06-17 Sold (Public Records) $22,000 Public Records
• 2002-08-15 Sold (Public Records) $10,000 Public Records

Property tax history

+0.1%/yr

Latest (2025): $1,170 · +1.2% YoY. Source: county tax records.