317 S Midler Ave S · Syracuse, NY 13206

$190,000

6 bd · 2.0 ba · 2,496 sqft · MultiFamily public records · 7 Days on market

Built 1905 5,280 sqft lot Est $265k · 28% 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 +23.6/30.0
• ARV discount +15.0/15.0
• DSCR +7.6/10.0
• 1% rule +5.4/10.0
• Rent growth +4.0/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

PRIME EASTWOOD LOCATIONS - Great condition with updated electrical, kitchens and bathrooms. Long term responsible tenants. 2 new furnaces and water heaters, new stove, fully painted inside. Lots of parking in the back of the house. 2 enclosed front porches. Shed for storage. Walk to Eastwood stores, theaters, restaurants and easy access to highway and downtown. Less than 10 minutes from Syracuse University and hospitals. MULTIPLE OFFERS RECEIVED - Highest and best offers due by noon on Saturday.

Key facts

• Updated electrical
• New stove
• New water heaters

Tags

• UPDATED ELECTRICAL
• UPDATED KITCHENS
• UPDATED BATHROOMS
• NEW FURNACES
• NEW WATER HEATERS
• NEW STOVE

Property features AI

Finance

• Financial info: Owner pays grounds care, snow removal and water; Operating expenses may include insurance, maintenance (structure and general), professional management, snow removal and water/sewer

Exterior

• Parking: Paved parking with two or more spaces
• Utilities: Public water connected; Sewer connected; High-speed internet available
• Home design: 2-story building; Existing structure
• Construction: Wood siding and cedar exterior; Copper plumbing; Asphalt shingle roof; Block foundation; Built previously (existing)
• Exterior features: Enclosed porch; Open porch; Near public transit; Rectangular residential lot; City street frontage

Interior

• Flooring: Ceramic tile; Hardwood; Vinyl; Varies
• Bathrooms: 2 full bathrooms
• Heating & cooling: Gas forced-air heating; Circuit breaker electrical
• Interior features: Full basement; High-speed internet available
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $190k.

Deal economics

• At list price, monthly cash flow is $359 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).

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: Rents rising fast (+5.8%/yr); 42 active listings in the ZIP; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• This rent runs 38% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 + 5.8% rent growth), your $53k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y 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 $128k; 48% 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 $190,000

Questions for the listing agent

1. Built in 1905 — 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 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: 1.04% ✓
• Cap rate: 8.56%
• Cash-on-cash: 8.09%
• DSCR: 1.36
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $264,576
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
421 S Collingwood Ave	0.21mi	6/2.0	2,520 (+1%)	19mo	$270,000	$107	73
221 S Collingwood Ave	0.19mi	6/2.0	2,600 (+4%)	18mo	$255,000	$98	69
142 N Collingwood Ave	0.47mi	6/2.0	2,436 (-2%)	16mo	$260,000	$107	61
160 Stafford Ave	0.48mi	6/3.0	2,538 (+2%)	12mo	$270,250	$106	61
1512 Caleb Ave #14	0.42mi	6/2.0	2,284 (-8%)	7mo	$306,125	$134	60
140 S Collingwood Ave	0.32mi	6/3.0	2,808 (+12%)	5mo	$296,800	$106	56
2107 Burnet Ave	0.38mi	5/2.0 (-1)	2,354 (-6%)	18mo	$224,900	$96	53
161-63 S Collingwood Ave	0.27mi	5/3.0 (-1)	2,748 (+10%)	11mo	$300,000	$109	52
176 S Midler Ave	0.50mi	5/2.0 (-1)	2,250 (-10%)	19mo	$220,000	$98	39

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 · 5.85% rent growth · sell at horizon

5-year hold

• IRR: -1.0%
• Equity multiple: 0.96×
• Total profit: $-2,136
• Equity at exit: $28,330

10-year hold

• IRR: 11.3%
• Equity multiple: 1.99×
• Total profit: $52,856
• Equity at exit: $16,428

Cash invested: $53,200 (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 13206

• Home prices YoY: -7.1%
• Rents YoY: 5.8%
• Active inventory: 42
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,983 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$133 /mo · $1,594/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$417
• Net cashflow: $359

Break-even live

Break-even rent $1,530

Max offer price $190,000

Occupancy floor 77%

Sensitivity live

Price	-10% $466	-5% $412	+0% $359	+5% $305	+10% $251
Rent	-10% $202	-5% $280	+0% $359	+5% $437	+10% $515
Rate	-1.0pp $454	-0.5pp $407	base $359	+0.5pp $309	+1.0pp $259

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-18
   listed $190,000 Active
2. 2024-12-05
   historical $1,600
3. 2024-08-16
   listed $1,600
4. 2018-12-27
   soldstatus $128,000

ⓘ 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: $1,594 · $133/mo
• Projected year-2 tax: $2,402 · $200/mo
• Expected delta: +$809/yr (+$67/mo · 50.7%)

ⓘ 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 ≥94°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: $23,801
• − Mortgage interest: −$10,643
• − Property taxes: −$1,594
• − Insurance: −$950
• − Repairs & maintenance: −$1,904
• − Management: −$1,904
• − Depreciation: −$5,527
• Taxable income: $1,279
• Est. tax owed @ 24.0%: −$307
• After-tax cash flow: $3,996/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): 16,245
• Household income: $63,136
• Rent vs Own: 42.5% rent · 57.5% own
• Severe rent burden: 725.0

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 (67%)
• Race & ethnicity: White 67% Black 13% Two or more races 9% Hispanic / Latino 8% Asian 5%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 6% Lithuanian 4% Slovak 2%
• Foreign-born: 8% · Canada, Jamaica, China
• Languages at home: 89% English-only · Spanish 3% Arabic 2% 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: ▼ -24.60%
• Current HPI: 322.231
• Rent YoY: ▲ 5.85%
• 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

+48.4% since first listed

4 events — show timeline

• 2026-05-18 Listed $190,000 CNYIS
• 2024-12-05 Rental Removed $1,600 NYSAMLS
• 2024-08-16 Listed for Rent $1,600 NYSAMLS
• 2018-12-27 Sold (Public Records) $128,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $1,594 · +0.0% YoY. Source: county tax records.