560 Clarendon St #64 · Syracuse, NY 13210

$499,000

8 bd · 3.0 ba · 2,990 sqft · MultiFamily public records · 43 Days on market

Built 1910 4,375 sqft lot $167/sqft · 15% below area Est $588k · 15% 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 +18.8/30.0
• ARV discount +14.3/15.0
• DSCR +5.9/10.0
• Rent growth +5.0/5.0
• 1% rule +4.1/10.0
• 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: 3 units. confirmed

Listing remarks

560–564 Clarendon Avenue Three-Family Investment Property — University Hill Another exceptional opportunity in one of Syracuse's most sought-after rental corridors. 560–564 Clarendon Avenue is a well-maintained, character-rich three-family in the heart of the University Hill neighborhood. 560–564 Clarendon Avenue offers seven bedrooms across three units, three full baths, and three full stories. The property has been maintained to a high standard and is ready to perform for a new owner from day one. Stabilized and turnkey — no deferred maintenance to price in, no repositioning required. For your first property or your 20th- this can a meaningful portfolio ad

Key facts

• 4,375 sq ft lot
• Built 1910
• Listed 43 days

Property features AI

Finance

• Financial info: Three-unit multifamily building with separate gas and electric meters for each unit; Current rents reported: two units at $1,300 and one unit at $1,250; Operating expense details: see remarks

Exterior

• Parking: Common parking
• Utilities: Public water connected; Sewer connected
• Home design: Two-story building; Existing construction
• Construction: Wood siding construction
• Exterior features: Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Eat-in kitchen in one unit; Kitchen in each unit (details vary)
• Bedrooms: Two 2-bedroom units; One 3-bedroom unit
• Flooring: Hardwood; Laminate; Varies by unit
• Bathrooms: Three full bathrooms (one per unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement; Hardwood and laminate flooring (varies by unit)
• Laundry & utility: Gas water heater; Tenants pay all utilities

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $499k.

Deal economics

• At list price, monthly cash flow is $503 ($6k/yr) — positive. Per door: $168/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $456k (8.6% below list).
• Recommended offer: $456k (8.6% below list) — sets the bar for 1% rule.

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 $4,559/mo this rent would consume 131% 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 $15k 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 $140k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($484k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $455,900 (8.6% below list)

Questions for the listing agent

1. It's been on market 43 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 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.91% ✗
• Cap rate: 7.50%
• Cash-on-cash: 4.32%
• DSCR: 1.19
• GRM: 9.1

CMA / ARV

• ARV (median comp): $588,080
• List price: $499,000
• Delta: -15.15%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
851-53 Ackerman Ave	0.26mi	8/3.0	2,636 (-12%)	11mo	$430,000	$163	59

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -4.5%
• Equity multiple: 0.82×
• Total profit: $-24,858
• Equity at exit: $74,403

10-year hold

• IRR: 9.8%
• Equity multiple: 1.92×
• Total profit: $128,692
• Equity at exit: $43,144

Cash invested: $139,720 (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: 27.4×

Monthly cashflow live

• Estimated rent: $4,559 high
• Mortgage (P&I): −$2,617
• Tax from tax record: −$274 /mo · $3,283/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$957
• Net cashflow: $503

Break-even live

Break-even rent $3,922

Max offer price $499,000

Occupancy floor 84%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,560
Total (3 units)			$4,559

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: $124,750
• Closing costs: $14,970
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $499,000 Active 43 DOM
2. 2026-06-17
   days on market $499,000 Active 42 DOM
3. 2026-06-16
   days on market $499,000 Active 41 DOM
4. 2026-06-15
   days on market $499,000 Active 40 DOM
5. 2026-06-14
   days on market $499,000 Active 38 DOM
6. 2026-06-13
   days on market $499,000 Active 37 DOM
7. 2026-06-10
   days on market $499,000 Active 35 DOM
8. 2026-06-09
   days on market $499,000 Active 34 DOM
9. 2026-06-08
   days on market $499,000 Active 33 DOM
10. 2026-06-07
    days on market $499,000 Active 32 DOM
11. 2026-06-05
    days on market $499,000 Active 29 DOM
12. 2026-06-02
    days on market $499,000 Active 27 DOM
13. 2026-06-01
    days on market $499,000 Active 26 DOM
14. 2026-05-31
    days on market $499,000 Active 25 DOM
15. 2026-05-30
    days on market $499,000 Active 24 DOM
16. 2026-05-04
    listed $499,000 Active 1263-char remark

ⓘ 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: $3,283 · $274/mo
• Projected year-2 tax: $5,858 · $488/mo
• Expected delta: +$2,575/yr (+$215/mo · 78.4%)

ⓘ 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 ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 100% 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: $54,708
• − Mortgage interest: −$27,952
• − Property taxes: −$3,283
• − Insurance: −$2,495
• − Repairs & maintenance: −$4,377
• − Management: −$4,377
• − Depreciation: −$14,516
• Taxable loss: −$2,292
• Est. tax savings @ 24.0%: +$550
• After-tax cash flow: $6,589/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

1 event — show timeline

• 2026-05-04 Listed $499,000 CNYIS

Property tax history

+2.4%/yr

Latest (2025): $3,283 · -1.3% YoY. Source: county tax records.