2208 Bellevue Ave · Syracuse, NY 13219

$185,000

3 bd · 1.5 ba · 1,400 sqft · SingleFamily public records · 37 Days on market

Built 1992 Est $223k · 17% under

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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 +18.7/30.0
• ARV discount +15.0/15.0
• DSCR +5.9/10.0
• 1% rule +4.3/10.0
• 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

Listing remarks

Split four levels, car port, new furnace 3 years ago.

Key facts

• New furnace
• Built 1992
• Listed 37 days

Tags

• NEW FURNACE

Property features AI

Exterior

• Home design: Built in 1992
• Construction: 1,400 living area (interior size)
• Exterior features: Located in the Southside subdivision

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $182 ($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 $172k (7.3% below list).
• Recommended offer: $172k (7.3% 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: 52 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $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

• It's been on market 37 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.

Recommended offer $171,550 (7.3% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
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: 0.93% ✗
• Cap rate: 7.47%
• Cash-on-cash: 4.21%
• DSCR: 1.19
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $222,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
122 Sunhill Ter	0.05mi	3/2.0	1,443 (+3%)	7mo	$229,000	$159	85
153 Upland Rd	0.31mi	3/1.0	1,404 (+0%)	3mo	$203,000	$145	81
2521 Bellevue Ave	0.27mi	3/1.5	1,424 (+2%)	5mo	$205,000	$144	80
159 Merrell Rd	0.26mi	3/1.0	1,365 (-2%)	9mo	$210,000	$154	74
127 Austin Ave	0.11mi	3/2.0	1,512 (+8%)	7mo	$205,000	$136	73
127 Wolcott Ter	0.38mi	3/2.0	1,344 (-4%)	8mo	$215,500	$160	67
110 Huntington Rd	0.30mi	4/2.0 (+1)	1,342 (-4%)	9mo	$235,000	$175	65
1609 Bellevue Ave	0.46mi	3/1.0	1,350 (-4%)	10mo	$52,000	$39	63
420 Winkworth Pkwy	0.52mi	3/1.5	1,484 (+6%)	5mo	$335,000	$226	62
1015 Velasko Rd	0.36mi	3/1.5	1,557 (+11%)	6mo	$280,000	$180	60
138 Merrell Rd	0.20mi	4/1.0 (+1)	1,590 (+14%)	6mo	$195,000	$123	55
1322 Glenwood Ave	0.50mi	3/1.5	1,260 (-10%)	8mo	$222,000	$176	54

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: -9.7%
• Equity multiple: 0.64×
• Total profit: $-18,430
• Equity at exit: $27,584

10-year hold

• IRR: -0.4%
• Equity multiple: 0.98×
• Total profit: $-1,287
• Equity at exit: $15,995

Cash invested: $51,800 (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 13219

• Home prices YoY: -20.6%
• Active inventory: 52
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,716 high
• Mortgage (P&I): −$970
• Tax from tax record: −$126 /mo · $1,513/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $182

Break-even live

Break-even rent $1,485

Max offer price $185,000

Occupancy floor 84%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1741 W Onondaga St Syracuse, NY	1.0–2.0	1.0–2.0	800	$1,250	$1.56	13d	3	0.31mi
5111 Ball Rd Syracuse, NY	1.0–2.0	1.0–1.5	1138	$1,820	$1.60	13d	16	0.67mi
315 Grant Ave #17 Syracuse, NY	3.0	2.0	1477	$1,275	$0.86	13d	1	0.71mi
1110 Bellevue Ave Syracuse, NY	3.0	1.0	1449	$1,500	$1.04	43d	1	0.86mi
409 Stolp Ave Syracuse, NY	1.0–3.0	1.0	849	$1,575	$1.86	13d	5	0.97mi
349 Bryant Ave Syracuse, NY	3.0	1.5	1500	$2,300	$1.53	13d	1	1.01mi
122 Putnam St Syracuse, NY	3.0	1.0	1064	$2,050	$1.93	21d	1	1.13mi
121 Whittier Ave Syracuse, NY	4.0	1.0	1400	$600	$0.43	43d	1	1.19mi
318 Kellogg St Unit 1 Syracuse, NY	3.0	1.0	1523	$1,650	$1.08	43d	1	1.24mi
318 Kellogg St Unit 2 Syracuse, NY	3.0	1.0	1523	$1,675	$1.10	43d	1	1.24mi
4300 Fay Rd Syracuse, NY	2.0	2.0	1217	$2,200	$1.81	13d	1	1.35mi
202 Cayuga St Unit 1 Syracuse, NY	3.0	1.0	1036	$1,750	$1.69	13d	1	1.38mi
140 Westbrook Hills Dr Syracuse, NY	1.0–2.0	1.0	942	$1,665	$1.77	13d	21	1.38mi
158 Parkway Dr Syracuse, NY	4.0	3.0	1029	$2,250	$2.19	21d	1	1.49mi

Listing history 16 events

1. 2026-06-18
   days on market $185,000 Active 37 DOM
2. 2026-06-17
   days on market $185,000 Active 36 DOM
3. 2026-06-16
   days on market $185,000 Active 35 DOM
4. 2026-06-15
   days on market $185,000 Active 34 DOM
5. 2026-06-14
   days on market $185,000 Active 32 DOM
6. 2026-06-13
   days on market $185,000 Active 31 DOM
7. 2026-06-10
   days on market $185,000 Active 29 DOM
8. 2026-06-09
   days on market $185,000 Active 28 DOM
9. 2026-06-08
   days on market $185,000 Active 27 DOM
10. 2026-06-07
    days on market $185,000 Active 26 DOM
11. 2026-06-05
    days on market $185,000 Active 23 DOM
12. 2026-06-02
    days on market $185,000 Active 21 DOM
13. 2026-06-01
    days on market $185,000 Active 20 DOM
14. 2026-05-31
    days on market $185,000 Active 19 DOM
15. 2026-05-30
    days on market $185,000 Active 18 DOM
16. 2026-05-12
    listed $185,000 Active 53-char remark

ⓘ 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: $1,513 · $126/mo
• Projected year-2 tax: $2,320 · $193/mo
• Expected delta: +$807/yr (+$67/mo · 53.3%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 17 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: $20,586
• − Mortgage interest: −$10,363
• − Property taxes: −$1,513
• − Insurance: −$925
• − Repairs & maintenance: −$1,647
• − Management: −$1,647
• − Depreciation: −$5,382
• Taxable loss: −$890
• Est. tax savings @ 24.0%: +$214
• After-tax cash flow: $2,397/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): 14,744
• Household income: $85,149
• Rent vs Own: 14.1% rent · 85.9% own
• Severe rent burden: 222.0

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 (87%)
• Race & ethnicity: White 87% Two or more races 5% Hispanic / Latino 5% Black 4% Asian 1%
• Common ancestry: Romanian 8% Lithuanian 4% Subsaharan African 3%
• Foreign-born: 7% · Canada
• Languages at home: 91% English-only · Russian/Polish/Slavic 3% Spanish 2% Arabic 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: ▼ -77.80%
• Current HPI: 300.7211
• 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

1 event — show timeline

• 2026-05-12 Listed $185,000 FSBO.com

Property tax history

-0.0%/yr

Latest (2025): $1,513 · +6.7% YoY. Source: county tax records.