612 West Seneca Turnpike Ave · Syracuse, NY 13207

$349,900

8 bd · 4.0 ba · 5,531 sqft · MultiFamily · 42 Days on market

Built 1920 10,039 sqft lot

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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 +29.2/30.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• 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: 2 units. confirmed

Listing remarks

Amazing investment opportunity! This four-unit multifamily property offers strong income potential with a desirable unit mix of two one-bedroom apartments, one two-bedroom apartment, and one three-bedroom apartment, making it an excellent addition to any investor’s portfolio. Each unit provides comfortable living space with great rental appeal across a variety of tenant needs. The property features convenient off-street parking and a fenced yard, adding both privacy and practicality for tenants. Recent updates include a brand new roof less than a year old, offering peace of mind and reducing major maintenance concerns for the new owner. With solid rental potential and desirable featur

Key facts

• Fenced yard
• Off-street parking
• New roof

Tags

• OFF-STREET PARKING
• FENCED YARD
• NEW ROOF

Property features AI

Finance

• Financial info: Total of 4 rental units; Gross annual income reported at $50,700; Operating expenses reported at $9,359 (includes electric, snow removal, water/sewer); Owner pays electricity, grounds care and water; rent includes electricity, gardener and water

Exterior

• Parking: Two or more off-street spaces
• Utilities: Electricity connected (circuit breakers); High-speed internet available; Public water connected; Sewer connected
• Home design: Two-story building; Shingle roof; Resale property
• Construction: Aluminum siding; Attic/crawl hatchway(s) insulated; Stone foundation; Existing construction
• Exterior features: Partial fencing; Covered porch; Porch; Corner, rectangular residential lot with city street frontage

Interior

• Kitchen: Units include oven/range and refrigerator; some have a dining area combined with the living room
• Bedrooms: Four total units: one 3-bedroom, one 2-bedroom, and two 1-bedroom units
• Flooring: Hardwood; Laminate; Luxury vinyl; Varies by unit
• Bathrooms: Each unit has a full bathroom (4 full bathrooms total)
• Heating & cooling: Gas forced-air heating
• Interior features: Hardwood, laminate, luxury vinyl and varied flooring throughout; Partial, walk-up basement with exterior entry
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/?-bath units multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $608/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $350k).
• Recommended offer: $339k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 8.2% in Syracuse — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: 63 active listings in the ZIP; 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 $10k 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 + 3.0% rent growth), your $98k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($339k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 9y 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $339,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% 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 1920 — 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: 1.31% ✓
• Cap rate: 10.46%
• Cash-on-cash: 14.89%
• DSCR: 1.66
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 5.5%
• Equity multiple: 1.21×
• Total profit: $20,813
• Equity at exit: $52,171

10-year hold

• IRR: 14.9%
• Equity multiple: 2.21×
• Total profit: $118,125
• Equity at exit: $30,253

Cash invested: $97,972 (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 13207

• Home prices YoY: -23.0%
• Active inventory: 63
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $4,600 medium
• Mortgage (P&I): −$1,835
• Tax est. 1.5%: −$437 /mo · $5,248/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$966
• Net cashflow: $1,216

Break-even live

Break-even rent $3,061

Max offer price $349,900

Occupancy floor 69%

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	—	$4,600
Total (2 units)			$4,600

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-04-24
   status Pending
2. 2026-04-07
   status Active
3. 2026-04-04
   historical Active Under Contract
4. 2026-03-13
   listed $349,900 Active
5. 2025-07-31
   historical
6. 2025-07-15
   price $365,000
7. 2025-06-25
   listed $375,000 Active
8. 2017-06-14
   listed $165,000
9. 2017-04-24
   listed $199,000
10. 2017-03-29
    historical
11. 2017-03-24
    price $179,000
12. 2017-03-17
    price $199,000
13. 2017-03-17
    listed $175,000 New

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $55,200
• − Mortgage interest: −$19,600
• − Property taxes: −$5,248
• − Insurance: −$1,750
• − Repairs & maintenance: −$4,416
• − Management: −$4,416
• − Depreciation: −$10,179
• Taxable income: $9,591
• Est. tax owed @ 24.0%: −$2,302
• After-tax cash flow: $12,289/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
• City population: 152,627
• Population (ZIP): 12,383

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 43% Black 33% Hispanic / Latino 17% Two or more races 11% Native American 1% Asian 1%
• Hispanic origin (detail): Puerto Rican 13% Cuban 1%
• Common ancestry: Romanian 3% Lithuanian 1% Slovak 1%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 89% English-only · Spanish 9% 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: ▼ -95.17%
• Current HPI: 318.9257
• 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

+99.9% since first listed

13 events — show timeline

• 2026-04-24 Pending — CNYIS
• 2026-04-07 Relisted — CNYIS
• 2026-04-04 Contingent — CNYIS
• 2026-03-13 Listed $349,900 CNYIS
• 2025-07-31 Listing Removed — CNYIS
• 2025-07-15 Price Changed $365,000 CNYIS
• 2025-06-25 Listed $375,000 CNYIS
• 2017-06-14 Listed $165,000 GBAOR
• 2017-04-24 Listed $199,000 GBAOR
• 2017-03-29 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2017-03-24 Price Changed $179,000 OneKey® MLS as Distributed by MLS Grid
• 2017-03-17 Price Changed $199,000 OneKey® MLS as Distributed by MLS Grid
• 2017-03-17 Listed $175,000 OneKey® MLS as Distributed by MLS Grid