220 W Yates St · East Syracuse, NY 13057

$215,000

5 bd · 2.0 ba · 2,632 sqft · MultiFamily public records · 187 Days on market

Built 1900 6,534 sqft lot Est $229k · 6% under

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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
• ARV discount +10.2/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.5/5.0
• Schools +4.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Great investment property and/or owner occupant opportunity. This is a well maintained, 6 BD, 2 BA, two-family home in the East Syracuse School district. Hardwoods floors throughout with natural woodwork, spacious sized bedrooms and living rooms and off street parking with a two car garage. Fresh paint in upstairs unit. Lower tenant is month to month and upper unit vacant. Room to raise rent. Conveniently located to schools, busisess', shopping and parks.

Key facts

• Natural woodwork
• Separate utilities
• Large living room

Tags

• TWO FAMILY HOME
• LARGE LIVING ROOM
• BEAUTIFUL HARDWOOD FLOORS
• NATURAL WOODWORK
• FULL BASEMENT
• SEPARATE UTILITIES

Property features AI

Finance

• Financial info: Two-unit property with separate gas and electric meters for each unit; Unit rents: one unit at $1,300/month and the other at $1,150/month; Owner is responsible for grounds care, snow removal and trash collection; Tenants pay all utilities; Operating expenses include maintenance, professional management and snow removal; Rent includes common area maintenance, snow removal and trash collection

Exterior

• Parking: 2-car garage; Garage with two or more spaces
• Utilities: Public water connected; Sewer connected
• Home design: Two-story multi-unit building; Existing (resale) property
• Construction: Shake siding and vinyl siding
• Exterior features: Rectangular residential lot; Near public transit; City street frontage

Interior

• Kitchen: Eat-in kitchen in one unit; Kitchen included in each unit
• Bedrooms: Two 3-bedroom units (each unit has 3 bedrooms)
• Flooring: Hardwood; Ceramic tile; Tile; Varies
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement; Varied floor materials throughout; Ceramic tile and tile areas; Hardwood floors
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $215k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive. Per door: $922/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $215k).
• Recommended offer: $189k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.6% vs local median 6.9% in East 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 90/100 on livability (#4 in NY, #81 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+.
• East Syracuse Minoa Central School District (rural): math 46% / reading 53% proficiency, ranked #379 of 590 in NY (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: East Syracuse Elementary School (math 27% / reading 42%, grade F, #1,577 of 2,108 statewide, top 77%, 363 students, 70% FRL); Pine Grove Middle School (math 29% / reading 49%, grade F, #433 of 729 statewide, top 60%, 672 students, 43% FRL); East Syracuse Minoa Central High School (math 97% / reading 87%, grade A+, #171 of 1,100 statewide, top 18%, 1,183 students, 60% FRL) — zoned schools average 58% FRL vs 29% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 58 active listings in the ZIP; solid renter incomes; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• At $4,615/mo this rent would consume 68% of the median local household income ($81k/yr) (locally 250% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $60k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 187 days — a 12% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y 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 $105k; list at $215k implies a 105% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $189,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 187 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 2.15% ✓
• Cap rate: 16.59%
• Cash-on-cash: 36.77%
• DSCR: 2.64
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $228,984
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
507 N Center St	0.23mi	4/2.5 (-1)	2,738 (+4%)	0mo	$239,000	$87	75
307 Highland Ave	0.23mi	6/2.0 (+1)	2,356 (-10%)	19mo	$210,000	$89	51
201 E Ellis St	0.33mi	5/2.0	2,384 (-9%)	23mo	$164,945	$69	49

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: 32.7%
• Equity multiple: 2.38×
• Total profit: $82,922
• Equity at exit: $32,057

10-year hold

• IRR: 39.7%
• Equity multiple: 4.73×
• Total profit: $224,575
• Equity at exit: $18,589

Cash invested: $60,200 (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 13057

• Home prices YoY: -11.1%
• Active inventory: 58
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $4,615 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$584 /mo · $7,007/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$969
• Net cashflow: $1,845

Break-even live

Break-even rent $2,280

Max offer price $215,000

Occupancy floor 55%

Sensitivity live

Price	-10% $1,967	-5% $1,906	+0% $1,845	+5% $1,784	+10% $1,723
Rent	-10% $1,480	-5% $1,663	+0% $1,845	+5% $2,027	+10% $2,209
Rate	-1.0pp $1,953	-0.5pp $1,900	base $1,845	+0.5pp $1,789	+1.0pp $1,732

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$4,614
Total (2 units)			$4,615

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $215,000 Active 187 DOM
2. 2026-06-17
   days on market $215,000 Active 186 DOM
3. 2026-06-16
   days on market $215,000 Active 185 DOM
4. 2026-06-15
   days on market $215,000 Active 184 DOM
5. 2026-06-14
   days on market $215,000 Active 182 DOM
6. 2026-06-13
   days on market $215,000 Active 181 DOM
7. 2026-06-10
   days on market $215,000 Active 179 DOM
8. 2026-06-09
   days on market $215,000 Active 178 DOM
9. 2026-06-08
   days on market $215,000 Active 177 DOM
10. 2026-06-07
    days on market $215,000 Active 176 DOM
11. 2026-06-03
    days on market $215,000 Active 172 DOM
12. 2026-06-02
    days on market $215,000 Active 171 DOM
13. 2026-06-01
    days on market $215,000 Active 170 DOM
14. 2026-05-31
    days on market $215,000 Active 169 DOM
15. 2026-05-30
    days on market $215,000 Active 168 DOM
16. 2025-12-13
    listed $215,000 Active
17. 2019-11-15
    soldstatus $105,100
18. 2019-11-12
    soldstatus $105,100 Closed Sale or Rented 459-char remark

    Show marketing remark (459 chars)

    Great investment property and/or owner occupant opportunity. This is a well maintained, 6 BD, 2 BA, two-family home in the East Syracuse School district. Hardwoods floors throughout with natural woodwork, spacious sized bedrooms and living rooms and off street parking with a two car garage. Fresh paint in upstairs unit. Lower tenant is month to month and upper unit vacant. Room to raise rent. Conveniently located to schools, busisess', shopping and parks.

19. 2019-10-17
    status Pending Sale 459-char remark

    Show marketing remark (459 chars)

    Great investment property and/or owner occupant opportunity. This is a well maintained, 6 BD, 2 BA, two-family home in the East Syracuse School district. Hardwoods floors throughout with natural woodwork, spacious sized bedrooms and living rooms and off street parking with a two car garage. Fresh paint in upstairs unit. Lower tenant is month to month and upper unit vacant. Room to raise rent. Conveniently located to schools, busisess', shopping and parks.

20. 2019-10-03
    status Under Contract- Do Not Show 459-char remark

    Show marketing remark (459 chars)

    Great investment property and/or owner occupant opportunity. This is a well maintained, 6 BD, 2 BA, two-family home in the East Syracuse School district. Hardwoods floors throughout with natural woodwork, spacious sized bedrooms and living rooms and off street parking with a two car garage. Fresh paint in upstairs unit. Lower tenant is month to month and upper unit vacant. Room to raise rent. Conveniently located to schools, busisess', shopping and parks.

21. 2019-09-27
    listed $99,000 Active 459-char remark

    Show marketing remark (459 chars)

    Great investment property and/or owner occupant opportunity. This is a well maintained, 6 BD, 2 BA, two-family home in the East Syracuse School district. Hardwoods floors throughout with natural woodwork, spacious sized bedrooms and living rooms and off street parking with a two car garage. Fresh paint in upstairs unit. Lower tenant is month to month and upper unit vacant. Room to raise rent. Conveniently located to schools, busisess', shopping and parks.

ⓘ 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: $7,007 · $584/mo
• Projected year-2 tax: $7,007 · $584/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥96°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: $55,380
• − Mortgage interest: −$12,043
• − Property taxes: −$7,007
• − Insurance: −$1,075
• − Repairs & maintenance: −$4,430
• − Management: −$4,430
• − Depreciation: −$6,255
• Taxable income: $20,139
• Est. tax owed @ 24.0%: −$4,833
• After-tax cash flow: $17,305/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: East Syracuse Minoa Central School District
• NCES district ID: 3609990
• Math proficiency: 46% ▼ -6.00%
• Reading proficiency: 53% ▲ 9.00%
• Median HH income: $55,801
• Composite: 42.9/100
• National rank: #3122
• State rank: #379 of 590 in NY

Livability — East Syracuse

• Score: 90/100
• State rank: #4
• US rank: #81

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime A- Employment C Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Syracuse, NY
• County: Onondaga County · 247,257 people
• City population: 14,253
• Metro: Syracuse, NY
• Population (ZIP): 14,253
• Household income: $80,900
• Rent vs Own: 24.0% rent · 76.0% own
• Severe rent burden: 250.0

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 (88%)
• Race & ethnicity: White 88% Two or more races 5% Hispanic / Latino 3% Asian 2% Black 2%
• Common ancestry: Romanian 5% Lithuanian 4% American 3%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 92% English-only · Russian/Polish/Slavic 3% Spanish 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: ▼ -39.50%
• Current HPI: 316.8595
• 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

+117.2% since first listed

6 events — show timeline

• 2025-12-13 Listed $215,000 CNYIS
• 2019-11-15 Sold (Public Records) $105,100 Public Records
• 2019-11-12 Sold (MLS) $105,100 CNYIS
• 2019-10-17 Pending — CNYIS
• 2019-10-03 Pending — CNYIS
• 2019-09-27 Listed $99,000 CNYIS

Property tax history

+2.8%/yr

Latest (2025): $7,007 · +16.3% YoY. Source: county tax records.