5470 Tourmaline Dr · North Syracuse, NY 13041

$249,900

3 bd · 2.0 ba · 1,292 sqft · SingleFamily public records · 7 Days on market

Built 1977 9,735 sqft lot $193/sqft · 17% below area Est $302k · 17% 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 +16.5/30.0
• ARV discount +15.0/15.0
• 1% rule +5.2/10.0
• DSCR +5.1/10.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Split level home features 3 bedroom's, 2 full baths with two car garage plus an open deck with a large fully fenced yard. Laundry in basement with washer and dryer. Great value in today's market, not to be missed. SELLER TO REVIEW ALL OFFERS AFTER 5 PM SUNDAY.

Key facts

• Formal dining room
• Brand new driveway
• Upstairs bathroom

Tags

• BRAND NEW DRIVEWAY
• NEW FRONT DOOR
• FORMAL DINING ROOM
• UPSTAIRS BATHROOM
• MASSIVE BACKYARD
• FULLY FENCED BACKYARD

Property features AI

Exterior

• Parking: Attached heated garage with garage door opener; 2 garage spaces; Driveway
• Utilities: Public water connected; Sewer connected; Circuit breaker electrical; Cable available; High-speed internet available
• Home design: Single-story home; Aluminum siding; Existing/resale property; Rectangular residential lot with city street frontage; Lot dimensions approximately 55 x 177
• Construction: Block foundation; Aluminum siding construction
• Exterior features: Blacktop driveway; Deck; Fully fenced yard; Play structure; Shed(s)/storage

Interior

• Kitchen: Dishwasher; Electric oven; Electric range; Microwave; Refrigerator; Solid surface counters
• Bedrooms: Bedrooms not specified
• Flooring: Carpet; Laminate; Vinyl; Varied flooring types
• Bathrooms: 2 full bathrooms; 1 main-level bathroom
• Heating & cooling: Gas heating with baseboard/hot water; Window air conditioning units
• Interior features: Ceiling fans; Den; Separate/formal dining room; Entrance foyer; Solid surface counters; Programmable thermostat; Full basement with sump pump
• Laundry & utility: Laundry in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $148 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Cap rate 7.0% vs local median 5.1% in North 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 72/100 on livability (#379 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: schools C-, crime D, amenities F.
• North Syracuse Central School District (suburban): math 45% / reading 50% proficiency, ranked #402 of 590 in NY (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 63 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $2k of loan paydown is wiped out by about $7k 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

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y 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 $152k; list at $250k implies a 64% gain — meaningful room to come down on a strong offer.

Recommended offer $249,900

Questions for the listing agent

1. Built in 1977 — 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. Crime grade is D 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?
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.02% ✓
• Cap rate: 7.00%
• Cash-on-cash: 2.54%
• DSCR: 1.11
• GRM: 8.2

CMA / ARV

• ARV (median comp): $301,688
• List price: $249,900
• Delta: -17.17%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5512 Taormina Dr	0.15mi	3/2.0	1,212 (-6%)	8mo	$155,000	$128	76
8238 Lucchesi Dr	0.44mi	3/1.0	1,280 (-1%)	1mo	$280,000	$219	73
5539 Taormina Dr	0.05mi	4/1.5 (+1)	1,384 (+7%)	9mo	$209,900	$152	71
8129 Firenze Ln	0.35mi	3/1.0	1,232 (-5%)	7mo	$259,000	$210	66
8213 Mantova Dr	0.52mi	3/1.5	1,300 (+1%)	10mo	$246,600	$190	64
5496 Tobin Path	0.44mi	3/2.0	1,400 (+8%)	2mo	$410,000	$293	64
5726 Boulia Dr	0.36mi	3/2.0	1,368 (+6%)	12mo	$265,000	$194	63
8272 Mantova Dr	0.36mi	3/1.0	1,368 (+6%)	10mo	$270,000	$197	61
5490 N Trastevere Road Rd #2	0.36mi	3/1.5	1,133 (-12%)	2mo	$130,000	$115	59
8147 Brookwood Dr	0.73mi	3/2.0	1,360 (+5%)	8mo	$250,000	$184	51
8010 Casilina Dr	0.73mi	4/1.5 (+1)	1,224 (-5%)	6mo	$253,000	$207	45
8010 Bamm Hollow Rd	0.61mi	3/1.5	1,483 (+15%)	11mo	$280,000	$189	36

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: -12.2%
• Equity multiple: 0.56×
• Total profit: $-30,938
• Equity at exit: $37,261

10-year hold

• IRR: -3.0%
• Equity multiple: 0.80×
• Total profit: $-14,290
• Equity at exit: $21,607

Cash invested: $69,972 (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 13041

• Active inventory: 63
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,550 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$452 /mo · $5,420/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$535
• Net cashflow: $148

Break-even live

Break-even rent $2,362

Max offer price $249,900

Occupancy floor 89%

Sensitivity live

Price	-10% $290	-5% $219	+0% $148	+5% $77	+10% $7
Rent	-10% $-53	-5% $47	+0% $148	+5% $249	+10% $350
Rate	-1.0pp $274	-0.5pp $212	base $148	+0.5pp $83	+1.0pp $17

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8091 Weblank Way Clay, NY	3.0	1.5	1150	$2,200	$1.91	22d	1	0.34mi
8244 Mantova Dr Clay, NY	3.0	2.0	1560	$2,800	$1.79	45d	1	0.44mi
5472 Alfreton Dr Clay, NY	3.0	2.0	1328	$2,800	$2.11	22d	1	0.53mi

Listing history 6 events

1. 2026-05-13
   listed $249,900 Active 1526-char remark
2. 2021-08-13
   soldstatus $152,500
3. 2021-08-06
   soldstatus $152,500 Closed Sale or Rented 266-char remark

   Show marketing remark (266 chars)

   Great Split level home features 3 bedroom's, 2 full baths with two car garage plus an open deck with a large fully fenced yard. Laundry in basement with washer and dryer. Great value in today's market, not to be missed. SELLER TO REVIEW ALL OFFERS AFTER 5 PM SUNDAY.

4. 2021-06-06
   historical Continue to Show- Under Contract 266-char remark

   Show marketing remark (266 chars)

   Great Split level home features 3 bedroom's, 2 full baths with two car garage plus an open deck with a large fully fenced yard. Laundry in basement with washer and dryer. Great value in today's market, not to be missed. SELLER TO REVIEW ALL OFFERS AFTER 5 PM SUNDAY.

5. 2021-05-28
   listed $152,500 Active 266-char remark

   Show marketing remark (266 chars)

   Great Split level home features 3 bedroom's, 2 full baths with two car garage plus an open deck with a large fully fenced yard. Laundry in basement with washer and dryer. Great value in today's market, not to be missed. SELLER TO REVIEW ALL OFFERS AFTER 5 PM SUNDAY.

6. 1994-07-15
   soldstatus $80,000

ⓘ 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: $5,420 · $452/mo
• Projected year-2 tax: $5,420 · $452/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 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,599
• − Mortgage interest: −$13,998
• − Property taxes: −$5,420
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,448
• − Management: −$2,448
• − Depreciation: −$7,270
• Taxable loss: −$2,235
• Est. tax savings @ 24.0%: +$536
• After-tax cash flow: $2,314/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: North Syracuse Central School District
• NCES district ID: 3621210
• Math proficiency: 45% ▼ -9.00%
• Reading proficiency: 50% ▲ 1.00%
• Median HH income: $62,904
• Composite: 41.93/100
• National rank: #3356
• State rank: #402 of 590 in NY

Livability — North Syracuse

• Score: 72/100
• State rank: #379
• US rank: #6513

Category grades

Amenities F Commute F Cost of living A Crime D Employment C Housing A+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 20,185
• Population (ZIP): 12,094

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: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 10% Black 3% Asian 3% Hispanic / Latino 2%
• Common ancestry: Romanian 7% Lithuanian 3% Slovak 2%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 89% English-only · Other Indo-European 4% Tagalog/Filipino 3% French/Haitian/Cajun 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: ▼ -235.12%
• Current HPI: 326.7838
• 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

+212.4% since first listed

7 events — show timeline

• 2026-05-20 Pending — CNYIS
• 2026-05-13 Listed $249,900 CNYIS
• 2021-08-13 Sold (Public Records) $152,500 Public Records
• 2021-08-06 Sold (MLS) $152,500 CNYIS
• 2021-06-06 Contingent — CNYIS
• 2021-05-28 Listed $152,500 CNYIS
• 1994-07-15 Sold (Public Records) $80,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $5,420 · +2.4% YoY. Source: county tax records.