822 Westcott St · Syracuse, NY 13210

$440,000

8 bd · 3.0 ba · 3,297 sqft · MultiFamily public records · 259 Days on market

Built 1900 Fair condition 5,896 sqft lot $133/sqft · 27% below area Est $603k · 27% under

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Why this score? — see what drove the D- 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).

• ARV discount +15.0/15.0
• Cash flow +7.7/30.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• DSCR +1.8/10.0
• 1% rule +1.4/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

822 Westcott Street — a well-located three-unit multifamily property in one of Syracuse’s most desirable rental corridors. This income-producing property features three spacious units with strong rental appeal: --One 5-bedroom, 2-bath unit --One 4-bedroom, 2-bath unit --One 2-bedroom, 1-bath unit Ideally situated on a bus line and just minutes from Syracuse University, this property offers convenient access to campus, making it highly attractive to student tenants and long-term renters alike. Located within walking distance to the vibrant Westcott Street business district, tenants will enjoy easy access to shopping, restaurants, entertainment, and essential services. The surrounding neighborhood’s consistent rental demand and proximity to major amenities make this an excellent opportunity for investors seeking reliable cash flow and long-term value. Whether you're looking to expand your portfolio or secure a high-demand rental property in a prime location, 822 Westcott Street presents a compelling investment opportunity in the heart of Syracuse.

Key facts

• 5,896 sq ft lot
• Built 1900
• Listed 258 days

Tags

• INCOME PRODUCING PROPERTY
• CONVENIENT ACCESS TO CAMPUS
• EASY ACCESS TO SHOPPING

What this means for you Summary

Snapshot

• This is a 2×4bd/1.7ba + 1×3bd/1.7ba units multifamily listed at $440k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-516 ($-6k/yr) — negative. Per door: $-172/mo.
• To cash-flow at today's rent, offer at most $349k (20.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $282k (35.8% below list).
• Recommended offer: $282k (35.8% below list) — sets the bar for 1% rule.
• Cap rate 4.9% vs local median 7.7% in Syracuse — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 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.
• Zoned schools: Edward Smith K-8 School (math 13% / reading 39%, grade F, #1,816 of 2,108 statewide, top 86%, 710 students, 69% FRL); Expeditionary Learning Middle School (math 17% / reading 32%, grade F, #611 of 729 statewide, top 88%, 170 students, 76% FRL); Nottingham High School (math 75% / reading 77%, grade A-, #616 of 1,100 statewide, top 57%, 1,226 students, 80% FRL) — zoned schools at 75% FRL track the district average.
• Zoned-school proficiency averages 42% at this address vs 22% district-wide (+20 pts) — the actual schools serving this property are materially stronger than the Syracuse City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 123 active listings in the ZIP; lower-income renter base — watch delinquency; 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 $3k of loan paydown is wiped out by about $13k 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 259 days — a 12% lower offer ($387k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y 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 $200k; list at $440k implies a 120% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $282,500 (35.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 259 days. Have you received any prior offers? Is the seller open to a 36% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
6. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
12. 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.
13. 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.
14. 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: 0.64% ✗
• Cap rate: 4.89%
• Cash-on-cash: -5.02%
• DSCR: 0.78
• GRM: 13.0

CMA / ARV

• ARV (median comp): $602,650
• List price: $440,000
• Delta: -26.99%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
851-53 Ackerman Ave	0.25mi	8/3.0	2,636 (-20%)	16mo	$430,000	$163	50
418 Euclid Ave	0.35mi	7/2.0 (-1)	3,856 (+17%)	1mo	$550,000	$143	49
602 Westcott St #4	0.22mi	8/3.0	2,677 (-19%)	33mo	$350,000	$131	45
227 Mckinley Ave	1.38mi	8/2.0	2,712 (-18%)	7mo	$303,700	$112	30
242 Mckinley Ave #42	1.37mi	7/2.0 (-1)	2,496 (-24%)	10mo	$217,000	$87	22
201 Salt Springs Rd	0.76mi	7/3.5 (-1)	2,729 (-17%)	18mo	$250,000	$92	18
111 E Borden Ave #13	1.46mi	8/2.0	2,688 (-18%)	31mo	$170,000	$63	16
240 Mckinley Ave #42	1.37mi	7/2.0 (-1)	2,496 (-24%)	31mo	$165,000	$66	11

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: -24.9%
• Equity multiple: 0.15×
• Total profit: $-104,277
• Equity at exit: $65,605

10-year hold

• IRR: -20.8%
• Equity multiple: -0.08×
• Total profit: $-133,650
• Equity at exit: $38,043

Cash invested: $123,200 (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 →

Active competition Active MLS

• For sale now: 4 active · 5 under contract
• Median asking: $429,000 ($143/sqft)
• Median days on market: 160 d
• This list price: 75% of active listings are priced below it
• ARV vs active asking: +27.4% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 13210

• Home prices YoY: -9.0%
• Active inventory: 123
• Price-to-rent: 63.8×

Monthly cashflow live

• Estimated rent: $2,825 high
• Mortgage (P&I): −$2,307
• Tax from tax record: −$257 /mo · $3,080/yr
• Insurance: −$183
• HOA: −$0
• Vacancy / Maint / Mgmt: −$593
• Net cashflow: $-516

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	1.7	$1,150
1× unit	3	1.7	$1,675
Total (3 units)			$2,825

Break-even live

Break-even rent $3,478

Max offer price $348,911

Occupancy floor —

Sensitivity live

Price	-10% $-267	-5% $-391	+0% $-516	+5% $-640	+10% $-765
Rent	-10% $-739	-5% $-627	+0% $-516	+5% $-404	+10% $-292
Rate	-1.0pp $-294	-0.5pp $-404	base $-516	+0.5pp $-630	+1.0pp $-746

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: $110,000
• Closing costs: $13,200
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
822 Westcott St Unit 1 Syracuse, NY	4.0	2.0	941	$575	$0.61	10d	1	0.01mi
131 Dell St Unit 133 Syracuse, NY	4.0	1.0	853	$550	$0.64	10d	1	0.42mi
205 Cambridge St #1 Syracuse, NY	3.0	1.0	1000	$1,700	$1.70	2d	1	0.52mi
260 Robert Dr Syracuse, NY	2.0–3.0	1.0–1.5	1200	$2,097	$1.75	0d	1	0.96mi
1113 E Genesee St Unit 3 Syracuse, NY	3.0	1.0	1030	$1,575	$1.53	10d	1	1.06mi
300 University Ave Syracuse, NY	4.0	1.0–2.0	1090	$3,800	$3.49	0d	4	1.15mi
333 Elm St Syracuse, NY	3.0	1.0	1100	$1,750	$1.59	41d	1	1.36mi
525 Burnet Ave Unit First Floor Syracuse, NY	3.0	1.0	900	$1,650	$1.83	184d	1	1.48mi

Listing history 50 events

1. 2026-11-08
   days on market $440,000 Active 259 DOM
2. 2026-11-07
   days on market $440,000 Active 258 DOM
3. 2026-11-06
   days on market $440,000 Active 257 DOM
4. 2026-11-05
   days on market $440,000 Active 256 DOM
5. 2026-11-04
   days on market $440,000 Active 255 DOM
6. 2026-11-02
   days on market $440,000 Active 253 DOM
7. 2026-11-01
   days on market $440,000 Active 252 DOM
8. 2026-10-31
   days on market $440,000 Active 251 DOM
9. 2026-10-30
   days on market $440,000 Active 250 DOM
10. 2026-10-29
    days on market $440,000 Active 249 DOM
11. 2026-10-28
    days on market $440,000 Active 248 DOM
12. 2026-10-27
    days on market $440,000 Active 247 DOM
13. 2026-10-26
    days on market $440,000 Active 246 DOM
14. 2026-10-25
    days on market $440,000 Active 245 DOM
15. 2026-10-24
    days on market $440,000 Active 244 DOM
16. 2026-10-23
    days on market $440,000 Active 243 DOM
17. 2026-10-22
    days on market $440,000 Active 242 DOM
18. 2026-10-21
    days on market $440,000 Active 241 DOM
19. 2026-10-20
    days on market $440,000 Active 240 DOM
20. 2026-10-19
    days on market $440,000 Active 239 DOM
21. 2026-10-18
    days on market $440,000 Active 238 DOM
22. 2026-10-17
    days on market $440,000 Active 237 DOM
23. 2026-10-16
    days on market $440,000 Active 236 DOM
24. 2026-10-15
    days on market $440,000 Active 235 DOM
25. 2026-10-14
    days on market $440,000 Active 234 DOM
26. 2026-10-13
    days on market $440,000 Active 233 DOM
27. 2026-10-12
    days on market $440,000 Active 232 DOM
28. 2026-10-11
    days on market $440,000 Active 231 DOM
29. 2026-10-10
    days on market $440,000 Active 230 DOM
30. 2026-10-09
    days on market $440,000 Active 229 DOM
31. 2026-10-08
    days on market $440,000 Active 228 DOM
32. 2026-10-07
    days on market $440,000 Active 227 DOM
33. 2026-10-06
    days on market $440,000 Active 226 DOM
34. 2026-10-05
    days on market $440,000 Active 225 DOM
35. 2026-10-04
    days on market $440,000 Active 224 DOM
36. 2026-10-04
    days on market $440,000 Active 223 DOM
37. 2026-10-02
    days on market $440,000 Active 222 DOM
38. 2026-10-01
    days on market $440,000 Active 221 DOM
39. 2026-09-30
    days on market $440,000 Active 220 DOM
40. 2026-09-29
    days on market $440,000 Active 219 DOM
41. 2026-09-28
    days on market $440,000 Active 218 DOM
42. 2026-09-27
    days on market $440,000 Active 217 DOM
43. 2026-09-26
    days on market $440,000 Active 216 DOM
44. 2026-09-25
    days on market $440,000 Active 215 DOM
45. 2026-09-24
    days on market $440,000 Active 214 DOM
46. 2026-09-24
    days on market $440,000 Active 213 DOM
47. 2026-09-22
    days on market $440,000 Active 212 DOM
48. 2026-09-21
    days on market $440,000 Active 211 DOM
49. 2026-09-20
    days on market $440,000 Active 210 DOM
50. 2026-09-18
    days on market $440,000 Active 208 DOM

ⓘ 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: $3,080 · $257/mo
• Projected year-2 tax: $5,258 · $438/mo
• Expected delta: +$2,178/yr (+$182/mo · 70.7%)

ⓘ 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: $33,900
• − Mortgage interest: −$24,647
• − Property taxes: −$3,080
• − Insurance: −$2,200
• − Repairs & maintenance: −$2,712
• − Management: −$2,712
• − Depreciation: −$12,800
• Taxable loss: −$14,251
• Est. tax savings @ 24.0%: +$3,420
• After-tax cash flow: $-2,767/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.

Condition & rehab AI · 3 photos

Fair 45/100 Moderate rehab Est. rehab $82,425–$148,365 screening

This three-unit multifamily property requires significant repairs and maintenance to improve its condition and value. Immediate attention to the exterior, interior, and flooring is recommended.

Deferred maintenance Est. $40,000–$120,000 screening

• Major Roof (roof) — Signs of significant damage or wear on the roof structure
• Major Windows (windows) — Visible signs of weathering and potential leaks
• Major Electrical (electrical) — Exposed wiring and potential hazards
• Major Plumbing (plumbing) — Signs of leaks and potential structural damage

Repairs flagged

• Major exterior siding — Significant peeling and wear
• Moderate roof — Aged appearance
• Major flooring — Worn and uneven surfaces
• Major interior walls/paint — Peeling paint and visible wear

Value-add opportunities

• Both repair and paint exterior — Enhances curb appeal and rental value ↑
• Both repair and paint interior walls — Improves living conditions and rental appeal ↑
• Both replace flooring — Enhances living conditions and rental appeal ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 42/100

Zoned Schools

Elementary Edward Smith K-8 School F NY #1,816/2,108 Nat'l #29,575/41,679 Middle Expeditionary Learning Middle School F NY #611/729 Nat'l #10,474/14,009 High Nottingham High School A- NY #616/1,100 Nat'l #1,484/17,239

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

B Composite livability gradescore 77/100

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 · 467,894 people
• City population: 152,627
• Metro: Syracuse, NY
• Population (ZIP): 19,803
• Household income: $41,738
• Rent vs Own: 70.6% rent · 29.4% own
• Severe rent burden: 13% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 58% Black 18% Asian 9% Hispanic / Latino 9% Two or more races 8%
• Hispanic origin (detail): Puerto Rican 3%
• Languages at home: 78% English-only · Chinese 5% Spanish 4% Other Indo-European 2%

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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: ▼ -37.59%
• Current HPI: 378.0277
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

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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

+238.5% since first listed

6 events — show timeline

• 2026-05-13 Contingent — CNYIS
• 2026-02-22 Listed $440,000 CNYIS
• 2012-02-29 Sold (MLS) $200,000 CNYIS
• 2012-02-28 Sold (Public Records) $200,000 Public Records
• 2011-06-01 Listed $220,000 CNYIS
• 2003-05-30 Sold (Public Records) $130,000 Public Records

Property tax history

+1.9%/yr

Latest (2025): $3,080 · +0.0% YoY. Source: county tax records.