116 Malverne Dr · Syracuse, NY 13208

$199,000

3 bd · 1.0 ba · 1,622 sqft · SingleFamily public records · 3 Days on market

Built 1928 4,800 sqft lot Est $190k · at est.

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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 +18.5/30.0
• Appreciation +10.0/10.0
• DSCR +5.8/10.0
• ARV discount +5.3/15.0
• 1% rule +4.0/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0

Listing remarks MLS

Welcome to 116 Malverne! This gorgeous Bungalow will meet and beat most buyers’ expectations with its charm and quality. Many nice updates and features compliment this home. Nice refinished hardwood floors, Open concept features totally renovated new kitchen with new Birch cabinets and Corain counter tops that flows into large living room with hardwood floors and wood burning fireplace. Finished basement family room with new carpet, wood burning fireplace and bar with sink. Laundry room with new stainless steel utility sink. New vinyl fencing encloses the back yard for privacy. 2 full baths and new 4 year old roof, new vinyl siding, new windows, New blacktop drive and a detached 1 car garage.

Key facts

• Corian countertops
• Renovated kitchen
• 4,800 sq ft lot

Tags

• VINYL PRIVACY-FENCED BACKYARD
• REFINISHED HARDWOOD FLOORS
• WOOD-BURNING FIREPLACE
• RENOVATED KITCHEN
• BIRCH SOFT-CLOSING CABINETRY
• CORIAN COUNTERTOPS

Property features AI

Exterior

• Parking: Detached garage; One garage space
• Utilities: Public water connected; Sewer connected; High-speed internet available; Cable available; Electric service with circuit breakers
• Home design: Single-story home (1 story); Resale property; Asphalt shingle roof
• Construction: Vinyl siding; Block foundation; Blown-in insulation; Insulated attic/crawl hatchway(s); Copper plumbing
• Exterior features: Blacktop driveway; Enclosed porch; Open porch; Fully fenced yard; Full perimeter fencing; Near public transit; Rectangular residential lot; City street frontage; Lot dimensions approximately 40 x 120

Interior

• Kitchen: Dishwasher; Electric oven; Electric range; Microwave; Refrigerator
• Bedrooms: Three bedrooms on the main level
• Flooring: Carpet; Ceramic tile; Hardwood; Laminate; Varies
• Bathrooms: Two full bathrooms total; One full bathroom on the main level
• Heating & cooling: Gas forced air heat; Wall cooling units
• Interior features: Breakfast bar; Ceiling fan(s); Dining area; Eat-in kitchen; Living/Dining room; Solid surface counters; Window treatments; Drapes; Bedroom on main level
• Laundry & utility: Washer; Dryer; Laundry located in the basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $190 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $179k (9.9% below list).
• Recommended offer: $179k (9.9% below list) — sets the bar for 1% rule.

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; 10 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $1,794/mo this rent would consume 48% 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 $21k of equity ($1k loan paydown + $20k 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 $56k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 $160k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $179,355 (9.9% below list)

Questions for the listing agent

1. Built in 1928 — 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: 0.90% ✗
• Cap rate: 7.44%
• Cash-on-cash: 4.09%
• DSCR: 1.18
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $189,774
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
144 Kuhl Ave	0.12mi	4/2.0 (+1)	1,680 (+4%)	7mo	$265,000	$158	74
104 Westview Ave	0.48mi	3/1.5	1,618 (-0%)	3mo	$189,000	$117	73
1625 Butternut St	0.32mi	4/2.0 (+1)	1,623 (+0%)	8mo	$151,000	$93	70
154 Maplehurst Ave	0.19mi	3/2.0	1,800 (+11%)	3mo	$241,000	$134	66
212 Hood Ave	0.30mi	4/1.5 (+1)	1,540 (-5%)	5mo	$160,000	$104	66
709 Darlington Rd	0.20mi	3/1.5	1,416 (-13%)	3mo	$207,000	$146	65
1100 Wadsworth St	0.25mi	4/3.0 (+1)	1,724 (+6%)	2mo	$199,900	$116	63
125 Cadillac St	0.52mi	3/1.5	1,528 (-6%)	3mo	$165,000	$108	62
226 Burdick Ave	0.67mi	3/1.0	1,548 (-5%)	0mo	$161,400	$104	61
225 Roxford Rd N	0.53mi	3/2.0	1,541 (-5%)	7mo	$179,900	$117	57
2723 Grant Blvd	0.72mi	4/3.0 (+1)	1,680 (+4%)	2mo	$310,000	$185	46
252 Medford Rd	0.64mi	4/2.0 (+1)	1,422 (-12%)	5mo	$250,000	$176	37

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: 27.2%
• Equity multiple: 3.16×
• Total profit: $120,417
• Equity at exit: $179,275

10-year hold

• IRR: 23.8%
• Equity multiple: 7.19×
• Total profit: $344,966
• Equity at exit: $386,613

Cash invested: $55,720 (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: 9.2×

Monthly cashflow live

• Estimated rent: $1,794 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$100 /mo · $1,205/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $190

Break-even live

Break-even rent $1,553

Max offer price $199,000

Occupancy floor 84%

Sensitivity live

Price	-10% $303	-5% $246	+0% $190	+5% $134	+10% $77
Rent	-10% $48	-5% $119	+0% $190	+5% $261	+10% $332
Rate	-1.0pp $290	-0.5pp $241	base $190	+0.5pp $138	+1.0pp $86

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
244 Harding St #46 Syracuse, NY	2.0	1.0	2200	$1,395	$0.63	44d	1	0.10mi
286 Ross Park Syracuse, NY	3.0	1.0	1100	$1,500	$1.36	45d	1	0.27mi
2340 Court St Syracuse, NY	2.0	1.5	1965	$2,200	$1.12	14d	1	0.42mi
126 Woodruff Ave Syracuse, NY	3.0	1.0	1200	$1,675	$1.40	44d	1	0.71mi
423 Wendell Ter Syracuse, NY	4.0	1.0	1312	$2,500	$1.91	14d	1	0.85mi
106 Harrington St Syracuse, NY	3.0	1.0	1168	$1,875	$1.61	44d	1	0.99mi
746 E Laurel St Unit 1 Syracuse, NY	4.0	2.0	1400	$1,500	$1.07	44d	1	1.24mi
1801 James St #2 Syracuse, NY	3.0	1.0	1244	$1,800	$1.45	14d	1	1.37mi
1618 James St #3 Syracuse, NY	2.0	1.0	1150	$2,200	$1.91	14d	1	1.37mi
417 Hazelhurst Ave Syracuse, NY	2.0	1.0	1536	$1,250	$0.81	22d	1	1.45mi

Listing history 8 events

1. 2026-05-30
   status $199,000 Pending 3 DOM
2. 2026-05-26
   listed $199,000 Active
3. 2021-12-22
   soldstatus $159,900
4. 2021-12-15
   soldstatus $159,900 Closed Sale or Rented 707-char remark

   Show marketing remark (707 chars)

   Welcome to 116 Malverne! This gorgeous Bungalow will meet and beat most buyers’ expectations with its charm and quality. Many nice updates and features compliment this home. Nice refinished hardwood floors, Open concept features totally renovated new kitchen with new Birch cabinets and Corain counter tops that flows into large living room with hardwood floors and wood burning fireplace. Finished basement family room with new carpet, wood burning fireplace and bar with sink. Laundry room with new stainless steel utility sink. New vinyl fencing encloses the back yard for privacy. 2 full baths and new 4 year old roof, new vinyl siding, new windows, New blacktop drive and a detached 1 car garage.

5. 2021-11-17
   status Under Contract- Do Not Show 707-char remark

   Show marketing remark (707 chars)

   Welcome to 116 Malverne! This gorgeous Bungalow will meet and beat most buyers’ expectations with its charm and quality. Many nice updates and features compliment this home. Nice refinished hardwood floors, Open concept features totally renovated new kitchen with new Birch cabinets and Corain counter tops that flows into large living room with hardwood floors and wood burning fireplace. Finished basement family room with new carpet, wood burning fireplace and bar with sink. Laundry room with new stainless steel utility sink. New vinyl fencing encloses the back yard for privacy. 2 full baths and new 4 year old roof, new vinyl siding, new windows, New blacktop drive and a detached 1 car garage.

6. 2021-10-21
   historical Continue to Show- Under Contract 707-char remark

   Show marketing remark (707 chars)

   Welcome to 116 Malverne! This gorgeous Bungalow will meet and beat most buyers’ expectations with its charm and quality. Many nice updates and features compliment this home. Nice refinished hardwood floors, Open concept features totally renovated new kitchen with new Birch cabinets and Corain counter tops that flows into large living room with hardwood floors and wood burning fireplace. Finished basement family room with new carpet, wood burning fireplace and bar with sink. Laundry room with new stainless steel utility sink. New vinyl fencing encloses the back yard for privacy. 2 full baths and new 4 year old roof, new vinyl siding, new windows, New blacktop drive and a detached 1 car garage.

7. 2021-10-15
   listed $164,900 Active 707-char remark

   Show marketing remark (707 chars)

   Welcome to 116 Malverne! This gorgeous Bungalow will meet and beat most buyers’ expectations with its charm and quality. Many nice updates and features compliment this home. Nice refinished hardwood floors, Open concept features totally renovated new kitchen with new Birch cabinets and Corain counter tops that flows into large living room with hardwood floors and wood burning fireplace. Finished basement family room with new carpet, wood burning fireplace and bar with sink. Laundry room with new stainless steel utility sink. New vinyl fencing encloses the back yard for privacy. 2 full baths and new 4 year old roof, new vinyl siding, new windows, New blacktop drive and a detached 1 car garage.

8. 2005-02-04
   soldstatus $38,000

ⓘ 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: $1,205 · $100/mo
• Projected year-2 tax: $2,284 · $190/mo
• Expected delta: +$1,079/yr (+$90/mo · 89.5%)

ⓘ 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 · 15 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: $21,523
• − Mortgage interest: −$11,147
• − Property taxes: −$1,205
• − Insurance: −$995
• − Repairs & maintenance: −$1,722
• − Management: −$1,722
• − Depreciation: −$5,789
• Taxable loss: −$1,057
• Est. tax savings @ 24.0%: +$254
• After-tax cash flow: $2,534/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

+423.7% since first listed

7 events — show timeline

• 2026-05-26 Listed $199,000 CNYIS
• 2021-12-22 Sold (Public Records) $159,900 Public Records
• 2021-12-15 Sold (MLS) $159,900 CNYIS
• 2021-11-17 Pending — CNYIS
• 2021-10-21 Contingent — CNYIS
• 2021-10-15 Listed $164,900 CNYIS
• 2005-02-04 Sold (Public Records) $38,000 Public Records

Property tax history

+0.6%/yr

Latest (2025): $1,205 · +0.0% YoY. Source: county tax records.