320 Randolph St · Syracuse, NY 13205

$124,900

4 bd · 2.0 ba · 1,520 sqft · MultiFamily public records · 17 Days on market

Built 1865 8,712 sqft lot Est $116k · 8% over

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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
• Livability +3.9/5.0
• ARV discount +3.8/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0

Multi-family units

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

Listing remarks MLS

Fantastic opportunity to own a two-family home on the south side of Syracuse. This property is located on a very quiet dead end street away from all the traffic and noise. Each unit consists of two bedroom and one bath. There is a large attic for extra storage and a two gar detached garage that could also bring in extra income. There are month to month tenants in each unit.

Key facts

• Ample natural light
• Two unit opportunity
• Conveniently located

Tags

• TWO UNIT OPPORTUNITY
• DOWNSTAIRS UNIT VACANT
• UPPER UNIT INCOME POTENTIAL
• AMPLE NATURAL LIGHT
• FUNCTIONAL FLOOR PLANS
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $125k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.
• Cap rate 17.0% 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: 67 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($864 loan paydown + $12k 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 $35k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: built in 1865 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,026 (1.5% below list)

Questions for the listing agent

1. Built in 1865 — 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: 1.94% ✓
• Cap rate: 16.96%
• Cash-on-cash: 38.09%
• DSCR: 2.69
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $115,520
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5306 S Salina St	0.73mi	4/2.0	1,584 (+4%)	3mo	$120,000	$76	56

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: 53.6%
• Equity multiple: 4.97×
• Total profit: $138,725
• Equity at exit: $112,520

10-year hold

• IRR: 47.2%
• Equity multiple: 11.09×
• Total profit: $352,934
• Equity at exit: $242,653

Cash invested: $34,972 (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: 67
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,429 high
• Mortgage (P&I): −$655
• Tax from tax record: −$102 /mo · $1,222/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$510
• Net cashflow: $1,110

Break-even live

Break-even rent $1,024

Max offer price $124,900

Occupancy floor 49%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,430
Total (2 units)			$2,429

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
154 Seeley Ave Syracuse, NY	4.0	1.0	1312	$2,100	$1.60	13d	1	0.20mi
147 E Matson Ave Syracuse, NY	3.0	2.5	1421	$2,000	$1.41	20d	1	0.67mi
102 Newbury Hollow Ln Syracuse, NY	3.0	2.0	2000	$2,300	$1.15	43d	1	0.74mi
2331 Midland Ave Syracuse, NY	4.0	1.5	1664	$2,300	$1.38	20d	1	0.93mi
213 Fletcher Ave Unit 2 Syracuse, NY	3.0	1.0	1200	$1,700	$1.42	13d	1	1.47mi

Listing history 11 events

1. 2026-04-29
   soldstatus $130,000
2. 2026-03-20
   status Pending
3. 2026-03-13
   historical Active Under Contract
4. 2026-03-03
   listed $124,900 Active
5. 2024-02-05
   soldstatus $110,000
6. 2024-01-31
   soldstatus $110,000 Closed 376-char remark

   Show marketing remark (376 chars)

   Fantastic opportunity to own a two-family home on the south side of Syracuse. This property is located on a very quiet dead end street away from all the traffic and noise. Each unit consists of two bedroom and one bath. There is a large attic for extra storage and a two gar detached garage that could also bring in extra income. There are month to month tenants in each unit.

7. 2023-12-27
   status Pending 376-char remark

   Show marketing remark (376 chars)

   Fantastic opportunity to own a two-family home on the south side of Syracuse. This property is located on a very quiet dead end street away from all the traffic and noise. Each unit consists of two bedroom and one bath. There is a large attic for extra storage and a two gar detached garage that could also bring in extra income. There are month to month tenants in each unit.

8. 2023-09-28
   status Pending Sale 376-char remark

   Show marketing remark (376 chars)

   Fantastic opportunity to own a two-family home on the south side of Syracuse. This property is located on a very quiet dead end street away from all the traffic and noise. Each unit consists of two bedroom and one bath. There is a large attic for extra storage and a two gar detached garage that could also bring in extra income. There are month to month tenants in each unit.

9. 2023-09-18
   listed $99,900 Active 376-char remark

   Show marketing remark (376 chars)

   Fantastic opportunity to own a two-family home on the south side of Syracuse. This property is located on a very quiet dead end street away from all the traffic and noise. Each unit consists of two bedroom and one bath. There is a large attic for extra storage and a two gar detached garage that could also bring in extra income. There are month to month tenants in each unit.

10. 2018-11-19
    soldstatus $29,000
11. 2012-06-28
    soldstatus $10,000

ⓘ 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: $1,222 · $102/mo
• Projected year-2 tax: $1,667 · $139/mo
• Expected delta: +$444/yr (+$37/mo · 36.4%)

ⓘ 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: $29,148
• − Mortgage interest: −$6,996
• − Property taxes: −$1,222
• − Insurance: −$624
• − Repairs & maintenance: −$2,332
• − Management: −$2,332
• − Depreciation: −$3,633
• Taxable income: $12,008
• Est. tax owed @ 24.0%: −$2,882
• After-tax cash flow: $10,438/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

+1200.0% since first listed

11 events — show timeline

• 2026-04-29 Sold (Public Records) $130,000 Public Records
• 2026-03-20 Pending — CNYIS
• 2026-03-13 Contingent — CNYIS
• 2026-03-03 Listed $124,900 CNYIS
• 2024-02-05 Sold (Public Records) $110,000 Public Records
• 2024-01-31 Sold (MLS) $110,000 CNYIS
• 2023-12-27 Pending — CNYIS
• 2023-09-28 Pending — CNYIS
• 2023-09-18 Listed $99,900 CNYIS
• 2018-11-19 Sold (Public Records) $29,000 Public Records
• 2012-06-28 Sold (Public Records) $10,000 Public Records

Property tax history

-0.1%/yr

Latest (2025): $1,222 · +0.0% YoY. Source: county tax records.