822 Westcott St · Syracuse, NY 13210

$440,000

8 bd · 3.0 ba · 3,297 sqft · MultiFamily public records · 116 Days on market

Built 1900 5,896 sqft lot $133/sqft · 23% below area Est $573k · 23% 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 +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Rent growth +5.0/5.0
• 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: 4 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 116 days

Tags

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

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/?-bath units multifamily listed at $440k.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive. Per door: $482/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $440k).
• Recommended offer: $400k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.5% 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: Rents rising fast (+11.2%/yr); 58 active listings in the ZIP; lower-income renter base — watch delinquency; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• At $5,917/mo this rent would consume 170% of the median local household income ($42k/yr) (locally 2307% 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 $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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $123k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 116 days — a 9% lower offer ($400k) 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 $400,400 (9.0% below list)

Questions for the listing agent

1. It's been on market 116 days. Have you received any prior offers? Is the seller open to a 9% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 1.34% ✓
• Cap rate: 11.55%
• Cash-on-cash: 18.77%
• DSCR: 1.84
• GRM: 6.2

CMA / ARV

• ARV (median comp): $572,896
• List price: $440,000
• Delta: -23.20%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 15.8%
• Equity multiple: 1.67×
• Total profit: $82,615
• Equity at exit: $65,605

10-year hold

• IRR: 27.7%
• Equity multiple: 4.02×
• Total profit: $371,933
• 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 →

ZIP-level market 13210

• Home prices YoY: -9.0%
• Rents YoY: 11.2%
• Active inventory: 58
• Price-to-rent: 24.8×

Monthly cashflow live

• Estimated rent: $5,917 high
• Mortgage (P&I): −$2,307
• Tax from tax record: −$257 /mo · $3,080/yr
• Insurance: −$183
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,243
• Net cashflow: $1,927

Break-even live

Break-even rent $3,478

Max offer price $440,000

Occupancy floor 62%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	—	$5,916
Total (4 units)			$5,917

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
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $440,000 Active 116 DOM
2. 2026-06-17
   days on market $440,000 Active 115 DOM
3. 2026-06-16
   days on market $440,000 Active 114 DOM
4. 2026-06-15
   days on market $440,000 Active 113 DOM
5. 2026-06-14
   days on market $440,000 Active 111 DOM
6. 2026-06-13
   days on market $440,000 Active 110 DOM
7. 2026-06-10
   days on market $440,000 Active 108 DOM
8. 2026-06-09
   days on market $440,000 Active 107 DOM
9. 2026-06-08
   days on market $440,000 Active 106 DOM
10. 2026-06-07
    days on market $440,000 Active 105 DOM
11. 2026-06-05
    days on market $440,000 Active 102 DOM
12. 2026-06-02
    days on market $440,000 Active 100 DOM
13. 2026-06-01
    days on market $440,000 Active 99 DOM
14. 2026-05-31
    days on market $440,000 Active 98 DOM
15. 2026-05-30
    days on market $440,000 Active 97 DOM
16. 2026-05-13
    historical Active Under Contract 1087-char remark

    Show marketing remark (1087 chars)

    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.

17. 2026-02-22
    listed $440,000 Active 1087-char remark

    Show marketing remark (1087 chars)

    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.

18. 2012-02-29
    soldstatus $200,000 190-char remark

    Show marketing remark (190 chars)

    "Great Opportunity" to own University 3 family rented out until 2012. 4bed, 4bed and 2bed. New certificate of compliance. Seperate utilities, walk to SU, hospital & shopping.

19. 2012-02-28
    soldstatus $200,000
20. 2011-06-01
    listed $220,000 190-char remark

    Show marketing remark (190 chars)

    "Great Opportunity" to own University 3 family rented out until 2012. 4bed, 4bed and 2bed. New certificate of compliance. Seperate utilities, walk to SU, hospital & shopping.

21. 2003-05-30
    soldstatus $130,000

ⓘ 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: $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: $71,004
• − Mortgage interest: −$24,647
• − Property taxes: −$3,080
• − Insurance: −$2,200
• − Repairs & maintenance: −$5,680
• − Management: −$5,680
• − Depreciation: −$12,800
• Taxable income: $16,917
• Est. tax owed @ 24.0%: −$4,060
• After-tax cash flow: $19,065/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): 19,803
• Household income: $41,738
• Rent vs Own: 70.6% rent · 29.4% own
• Severe rent burden: 2307.0

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: 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%
• Common ancestry: Romanian 3% Lithuanian 3% Italian 2%
• Foreign-born: 18% · China, Canada, South Korea
• Languages at home: 78% English-only · Chinese 5% Spanish 4% Other Indo-European 2%

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: ▲ 11.18%
• 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

+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.