344 W Colvin St · Syracuse, NY 13205

$59,900

4 bd · 1.5 ba · 2,000 sqft · SingleFamily public records · 1 Days on market

Built 1920 2,432 sqft lot

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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
• 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

Listing remarks

Great potential and an opportunity to build sweat equity right in the city of Syrcause NY! This charming home with 4 bedrooms and 2 full baths is in need of your vision and some TLC, this property could truly shine!The layout and sought after location make it well worth the effort. This property is perfect for homeowners or investors ready to make it their own!

Key facts

• 2,432 sq ft lot
• Built 1920

Property features AI

Finance

• HOA & community: Trails/paths nearby

Exterior

• Parking: No garage
• Utilities: Public water connected; Sewer connected
• Home design: Two-story house; Existing construction
• Construction: Composite siding; Asphalt shingle roof; Block foundation
• Exterior features: Blacktop driveway; Enclosed porch; Open porch; Near public transit; Rectangular lot (38 x 64)

Interior

• Kitchen: Gas water heater; See remarks (additional kitchen/appliance details)
• Bedrooms: One main-level bedroom
• Flooring: Hardwood; Resilient flooring; Varies by room
• Bathrooms: Two full bathrooms; One main-level bathroom
• Heating & cooling: Gas heating; Forced-air heating
• Interior features: Separate formal dining room; Entrance foyer; Separate formal living room; Living/dining room configuration; Bedroom on main level; Full basement
• Laundry & utility: See remarks

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Cap rate 29.1% 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: 68 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($414 loan paydown + $6k 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 $17k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 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 $59,900

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 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 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: 3.26% ✓
• Cap rate: 29.07%
• Cash-on-cash: 81.34%
• DSCR: 4.62
• GRM: 2.6

CMA / ARV

• ARV (on-the-fly): $128,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
250 Mclennan Ave	0.23mi	4/1.0	2,016 (+1%)	0mo	$130,000	$64	86
215 W Beard Ave	0.08mi	5/2.0 (+1)	2,012 (+1%)	15mo	$100,000	$50	76
1330 Midland Ave	0.14mi	4/1.0	1,870 (-6%)	8mo	$85,000	$45	74
131 Wood Ave	0.07mi	5/1.0 (+1)	1,902 (-5%)	16mo	$108,000	$57	68
1110 Midland Ave	0.28mi	4/1.5	1,751 (-12%)	6mo	$70,000	$40	61
269 Mclennan Ave	0.21mi	4/2.5	1,740 (-13%)	4mo	$141,000	$81	61
253 Webster Ave	0.23mi	4/1.5	1,751 (-12%)	12mo	$70,000	$40	58
316 Warner Ave	0.19mi	5/2.0 (+1)	1,820 (-9%)	15mo	$170,000	$93	57
1511 S State St	0.45mi	4/1.0	1,866 (-7%)	11mo	$157,000	$84	56
3315 S Salina St	0.72mi	3/1.0 (-1)	1,886 (-6%)	3mo	$45,500	$24	47
128 Richardson Ave	0.53mi	3/2.0 (-1)	1,826 (-9%)	11mo	$185,000	$101	45
100 May Ave	0.61mi	4/1.5	1,752 (-12%)	16mo	$115,000	$66	38

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: 91.2%
• Equity multiple: 7.26×
• Total profit: $105,058
• Equity at exit: $53,963

10-year hold

• IRR: 86.0%
• Equity multiple: 16.05×
• Total profit: $252,486
• Equity at exit: $116,373

Cash invested: $16,772 (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: 2.6×

Monthly cashflow live

• Estimated rent: $1,954 high
• Mortgage (P&I): −$314
• Tax from tax record: −$67 /mo · $810/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $1,137

Break-even live

Break-even rent $515

Max offer price $59,900

Occupancy floor 37%

Sensitivity live

Price	-10% $1,171	-5% $1,154	+0% $1,137	+5% $1,120	+10% $1,103
Rent	-10% $983	-5% $1,060	+0% $1,137	+5% $1,214	+10% $1,291
Rate	-1.0pp $1,167	-0.5pp $1,152	base $1,137	+0.5pp $1,121	+1.0pp $1,106

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1330 Midland Ave Syracuse, NY	4.0	1.0	1870	$2,000	$1.07	22d	1	0.14mi
269 W Borden Ave Syracuse, NY	4.0	1.5	1800	$650	$0.36	22d	1	0.14mi
2331 Midland Ave Syracuse, NY	4.0	1.5	1664	$2,300	$1.38	22d	1	0.58mi
147 E Matson Ave Syracuse, NY	3.0	2.5	1421	$2,000	$1.41	22d	1	0.91mi
102 Newbury Hollow Ln Syracuse, NY	3.0	2.0	2000	$2,300	$1.15	45d	1	1.10mi
326 Holland St Unit 1 Syracuse, NY	3.0	1.0	2100	$1,825	$0.87	45d	1	1.17mi
318 Kellogg St Unit 2 Syracuse, NY	3.0	1.0	1523	$1,675	$1.10	45d	1	1.23mi
318 Kellogg St Unit 1 Syracuse, NY	3.0	1.0	1523	$1,650	$1.08	45d	1	1.23mi
1110 Bellevue Ave Syracuse, NY	3.0	1.0	1449	$1,500	$1.04	45d	1	1.35mi
214 Rowland St Syracuse, NY	4.0	1.0	2092	$1,800	$0.86	14d	1	1.44mi
315 Grant Ave #17 Syracuse, NY	3.0	2.0	1477	$1,275	$0.86	14d	1	1.45mi

Listing history 2 events

1. 2026-05-06
   status Pending
2. 2026-05-05
   listed $59,900 Active

ⓘ 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: $810 · $67/mo
• Projected year-2 tax: $911 · $76/mo
• Expected delta: +$101/yr (+$8/mo · 12.5%)

ⓘ 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: $23,445
• − Mortgage interest: −$3,355
• − Property taxes: −$810
• − Insurance: −$300
• − Repairs & maintenance: −$1,876
• − Management: −$1,876
• − Depreciation: −$1,743
• Taxable income: $13,487
• Est. tax owed @ 24.0%: −$3,237
• After-tax cash flow: $10,406/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

2 events — show timeline

• 2026-05-06 Pending — CNYIS
• 2026-05-05 Listed $59,900 CNYIS

Property tax history

+1.9%/yr

Latest (2025): $810 · +0.0% YoY. Source: county tax records.