219 Lakeview Ave · Syracuse, NY 13204

$40,000

4 bd · 2.0 ba · 2,864 sqft · MultiFamily public records · 5 Days on market

Built 1910 4,356 sqft lot ↓ 27% since listing

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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 +15.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.6/5.0
• Livability +3.9/5.0
• 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: 2 units. confirmed

Listing remarks MLS

Attention investors and DIY enthusiasts! Multiple exit strategies: finish this remodel then either flip, rent or move in! Home being sold as is.

Key facts

• Strong rental demand
• Low taxes
• 4,356 sq ft lot

Tags

• LOW TAXES
• STRONG RENTAL DEMAND

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $40k.

Deal economics

• At list price, monthly cash flow is $3k ($31k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $40k).
• Cap rate 84.7% 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 (+8.2%/yr); 121 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• At $3,688/mo this rent would consume 98% of the median local household income ($45k/yr) (locally 2073% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $4k of equity ($277 loan paydown + $4k 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 + 8.0% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 11y 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 $25k; list at $40k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $40,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 9.22% ✓
• Cap rate: 84.66%
• Cash-on-cash: 279.87%
• DSCR: 13.45
• GRM: 0.9

CMA / ARV

• ARV (on-the-fly): $197,616
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
219 Lakeview Ave	0.00mi	4/2.0	2,864 (0%)	1mo	$38,000	$13	99
220 Lakeview Ave	0.03mi	4/2.0	2,818 (-2%)	10mo	$225,000	$80	88
205 Lakeview Ave	0.04mi	4/2.0	2,860 (-0%)	15mo	$75,000	$26	85
911 Park Ave	0.12mi	5/2.0 (+1)	2,608 (-9%)	14mo	$165,000	$63	62
206 N Geddes St	0.41mi	5/2.0 (+1)	2,664 (-7%)	5mo	$135,000	$51	60
137-39 Bryant Ave	0.28mi	5/2.0 (+1)	2,690 (-6%)	16mo	$270,000	$100	58
129 Tennyson Ave	0.23mi	5/3.0 (+1)	3,064 (+7%)	13mo	$210,000	$69	58
106 Herkimer St	0.61mi	4/2.0	2,726 (-5%)	10mo	$190,000	$70	55
633 Park Ave	0.48mi	5/3.0 (+1)	3,136 (+10%)	7mo	$335,000	$107	47

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 19.55×
• Total profit: $207,713
• Equity at exit: $36,035

10-year hold

• IRR: —
• Equity multiple: 48.26×
• Total profit: $529,277
• Equity at exit: $77,711

Cash invested: $11,200 (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 13204

• Home prices YoY: 31.6%
• Rents YoY: 8.2%
• Active inventory: 121
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $3,688 high
• Mortgage (P&I): −$210
• Tax from tax record: −$75 /mo · $900/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$774
• Net cashflow: $2,612

Break-even live

Break-even rent $382

Max offer price $40,000

Occupancy floor 24%

Sensitivity live

Price	-10% $2,635	-5% $2,623	+0% $2,612	+5% $2,601	+10% $2,589
Rent	-10% $2,321	-5% $2,466	+0% $2,612	+5% $2,758	+10% $2,903
Rate	-1.0pp $2,632	-0.5pp $2,622	base $2,612	+0.5pp $2,602	+1.0pp $2,591

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,688
Total (2 units)			$3,688

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
214 Rowland St Syracuse, NY	4.0	1.0	2092	$1,800	$0.86	15d	1	1.08mi
326 Holland St Unit 1 Syracuse, NY	3.0	1.0	2100	$1,825	$0.87	45d	1	1.20mi

Listing history 16 events

1. 2026-03-23
   status Pending
2. 2026-03-20
   historical Active Under Contract
3. 2026-03-18
   listed $40,000 Active
4. 2026-02-17
   soldstatus $25,000 Closed 146-char remark

   Show marketing remark (146 chars)

   Attention investors and DIY enthusiasts! Multiple exit strategies: finish this remodel then either flip, rent or move in! Home being sold as is.

5. 2025-12-29
   status Pending 146-char remark

   Show marketing remark (146 chars)

   Attention investors and DIY enthusiasts! Multiple exit strategies: finish this remodel then either flip, rent or move in! Home being sold as is.

6. 2025-12-18
   listed $39,900 Active 146-char remark

   Show marketing remark (146 chars)

   Attention investors and DIY enthusiasts! Multiple exit strategies: finish this remodel then either flip, rent or move in! Home being sold as is.

7. 2023-11-15
   soldstatus $24,900
8. 2022-04-13
   historical
9. 2022-02-17
   listed $39,900 Active
10. 2020-02-06
    soldstatus $5,000 Closed Sale or Rented
11. 2019-12-20
    status Under Contract- Do Not Show
12. 2019-12-06
    price $5,000
13. 2019-11-06
    price $10,000
14. 2019-10-02
    listed $15,000 Active
15. 2016-08-10
    historical
16. 2015-10-06
    listed $54,900 Active

ⓘ 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: $900 · $75/mo
• Projected year-2 tax: $900 · $75/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% 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
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $44,256
• − Mortgage interest: −$2,241
• − Property taxes: −$900
• − Insurance: −$200
• − Repairs & maintenance: −$3,540
• − Management: −$3,540
• − Depreciation: −$1,164
• Taxable income: $32,671
• Est. tax owed @ 24.0%: −$7,841
• After-tax cash flow: $23,504/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): 19,440
• Household income: $45,351
• Rent vs Own: 70.8% rent · 29.2% own
• Severe rent burden: 2073.0

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 0.68)
• Race & ethnicity: White 47% Black 26% Hispanic / Latino 17% Two or more races 13% Native American 1%
• Hispanic origin (detail): Puerto Rican 12% Cuban 2% Dominican 1%
• Common ancestry: Romanian 5% Lithuanian 2% Subsaharan African 2%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 83% English-only · Spanish 11% Russian/Polish/Slavic 3% Arabic 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: ▲ 100.14%
• Current HPI: 416.7272
• Rent YoY: ▲ 8.24%
• 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

-27.1% since first listed

16 events — show timeline

• 2026-03-23 Pending — CNYIS
• 2026-03-20 Contingent — CNYIS
• 2026-03-18 Listed $40,000 CNYIS
• 2026-02-17 Sold (MLS) $25,000 WNYREIS
• 2025-12-29 Pending — WNYREIS
• 2025-12-18 Listed $39,900 WNYREIS
• 2023-11-15 Sold (Public Records) $24,900 Public Records
• 2022-04-13 Listing Removed — CNYIS
• 2022-02-17 Listed $39,900 CNYIS
• 2020-02-06 Sold (MLS) $5,000 CNYIS
• 2019-12-20 Pending — CNYIS
• 2019-12-06 Price Changed $5,000 CNYIS
• 2019-11-06 Price Changed $10,000 CNYIS
• 2019-10-02 Listed $15,000 CNYIS
• 2016-08-10 Listing Removed — CNYIS
• 2015-10-06 Listed $54,900 CNYIS

Property tax history

-1.9%/yr

Latest (2025): $900 · +0.0% YoY. Source: county tax records.