1435 Midland Ave #37 · Syracuse, NY 13205

$185,000

4 bd · 2.0 ba · 1,728 sqft · Condo public records · 40 Days on market

Built 1920

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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 +24.9/30.0
• Appreciation +10.0/10.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0

Listing remarks MLS

Vacant 2 family ready for an owner occupant or investor looking to make some cash flow. Property recently underwent a full renovation and has a current C of C. Each unit has a market value of $1000+ per month. Gas/electric are separately metered, making them the tenants responsibility. Water/sewer is the landlords responsibility. Broken window will be replaced. It is on order.

Key facts

• New stoves
• New microwaves
• Newly painted

Tags

• HARDWOOD FLOORS
• NEWLY PAINTED
• NEW STOVES
• NEW REFRIGERATORS
• NEW MICROWAVES

Property features AI

Finance

• Other: Operating expenses include water
• Financial info: Two-unit multi-family property with separate gas and electric meters for each unit; Owner pays water; water included in rent; Unit rents listed: one unit at $1,000 and one unit at $1,200

Exterior

• Parking: Detached 2-car garage; Paved parking
• Utilities: Public water connected; Sewer connected
• Home design: 2-story building; Existing property condition; Aluminum siding
• Construction: Aluminum siding construction
• Exterior features: Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Unit 1: Eat-in kitchen; Unit 2: Eat-in kitchen with oven/range and refrigerator
• Bedrooms: Two 2-bedroom units (each unit has 2 bedrooms)
• Flooring: Hardwood; Laminate; Varied flooring
• Bathrooms: Each unit has 1 full bathroom (2 full bathrooms total)
• Heating & cooling: Gas heating
• Interior features: Air filtration
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath condo listed at $185k.

Deal economics

• At list price, monthly cash flow is $399 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $179k (3.0% below list) — sets the bar for market timing.

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: 67 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $18k 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 + 3.0% rent growth), your $52k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 5 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 $69k; list at $185k implies a 168% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $179,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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: 1.05% ✓
• Cap rate: 8.88%
• Cash-on-cash: 9.25%
• DSCR: 1.41
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 31.0%
• Equity multiple: 3.43×
• Total profit: $126,115
• Equity at exit: $166,663

10-year hold

• IRR: 26.8%
• Equity multiple: 7.78×
• Total profit: $351,278
• Equity at exit: $359,414

Cash invested: $51,800 (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 13205

• Home prices YoY: 3.0%
• Active inventory: 67
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,939 high
• Mortgage (P&I): −$970
• Tax from tax record: −$86 /mo · $1,026/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $399

Break-even live

Break-even rent $1,434

Max offer price $185,000

Occupancy floor 74%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1330 Midland Ave Syracuse, NY	4.0	1.0	1870	$2,000	$1.07	21d	1	0.05mi
269 W Borden Ave Syracuse, NY	4.0	1.5	1800	$650	$0.36	21d	1	0.10mi
2331 Midland Ave Syracuse, NY	4.0	1.5	1664	$2,300	$1.38	21d	1	0.59mi
147 E Matson Ave Syracuse, NY	3.0	2.5	1421	$2,000	$1.41	21d	1	0.97mi
260 Robert Dr Syracuse, NY	3.0	1.5	1200	$2,097	$1.75	43d	1	0.99mi
259 Robert Dr Syracuse, NY	3.0	1.5	1350	$699	$0.52	43d	1	1.01mi
213 Fletcher Ave Unit 2 Syracuse, NY	3.0	1.0	1200	$1,700	$1.42	13d	1	1.02mi
409 Stolp Ave Syracuse, NY	1.0–3.0	1.0	849	$1,575	$1.86	13d	5	1.06mi
326 Holland St Unit 1 Syracuse, NY	3.0	1.0	2100	$1,825	$0.87	43d	1	1.10mi
122 Putnam St Syracuse, NY	3.0	1.0	1064	$2,050	$1.93	21d	1	1.13mi
318 Kellogg St Unit 2 Syracuse, NY	3.0	1.0	1523	$1,675	$1.10	43d	1	1.16mi
318 Kellogg St Unit 1 Syracuse, NY	3.0	1.0	1523	$1,650	$1.08	43d	1	1.16mi
102 Newbury Hollow Ln Syracuse, NY	3.0	2.0	2000	$2,300	$1.15	43d	1	1.17mi
1110 Bellevue Ave Syracuse, NY	3.0	1.0	1449	$1,500	$1.04	43d	1	1.26mi
315 Grant Ave #17 Syracuse, NY	3.0	2.0	1477	$1,275	$0.86	13d	1	1.35mi
214 Rowland St Syracuse, NY	4.0	1.0	2092	$1,800	$0.86	13d	1	1.36mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: watersewergaselectric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 35 events

1. 2026-06-18
   days on market $185,000 Active 40 DOM
2. 2026-06-17
   days on market $185,000 Active 39 DOM
3. 2026-06-16
   days on market $185,000 Active 38 DOM
4. 2026-06-15
   days on market $185,000 Active 37 DOM
5. 2026-06-14
   days on market $185,000 Active 35 DOM
6. 2026-06-13
   days on market $185,000 Active 34 DOM
7. 2026-06-10
   days on market $185,000 Active 32 DOM
8. 2026-06-09
   days on market $185,000 Active 31 DOM
9. 2026-06-08
   days on market $185,000 Active 30 DOM
10. 2026-06-07
    days on market $185,000 Active 29 DOM
11. 2026-06-05
    days on market $185,000 Active 26 DOM
12. 2026-06-02
    days on market $185,000 Active 24 DOM
13. 2026-06-01
    days on market $185,000 Active 23 DOM
14. 2026-05-31
    days on market $185,000 Active 22 DOM
15. 2026-05-30
    days on market $185,000 Active 21 DOM
16. 2026-05-13
    status Active 197-char remark
17. 2026-05-04
    status Pending 197-char remark
18. 2026-04-30
    listed $185,000 Active 197-char remark
19. 2023-02-14
    soldstatus $69,000
20. 2023-02-10
    soldstatus $70,000 Closed Sale or Rented 379-char remark

    Show marketing remark (379 chars)

    Vacant 2 family ready for an owner occupant or investor looking to make some cash flow. Property recently underwent a full renovation and has a current C of C. Each unit has a market value of $1000+ per month. Gas/electric are separately metered, making them the tenants responsibility. Water/sewer is the landlords responsibility. Broken window will be replaced. It is on order.

21. 2022-12-13
    historical Continue to Show- Under Contract 379-char remark

    Show marketing remark (379 chars)

    Vacant 2 family ready for an owner occupant or investor looking to make some cash flow. Property recently underwent a full renovation and has a current C of C. Each unit has a market value of $1000+ per month. Gas/electric are separately metered, making them the tenants responsibility. Water/sewer is the landlords responsibility. Broken window will be replaced. It is on order.

22. 2022-12-04
    price $69,900 379-char remark

    Show marketing remark (379 chars)

    Vacant 2 family ready for an owner occupant or investor looking to make some cash flow. Property recently underwent a full renovation and has a current C of C. Each unit has a market value of $1000+ per month. Gas/electric are separately metered, making them the tenants responsibility. Water/sewer is the landlords responsibility. Broken window will be replaced. It is on order.

23. 2022-11-10
    price $84,900 379-char remark

    Show marketing remark (379 chars)

    Vacant 2 family ready for an owner occupant or investor looking to make some cash flow. Property recently underwent a full renovation and has a current C of C. Each unit has a market value of $1000+ per month. Gas/electric are separately metered, making them the tenants responsibility. Water/sewer is the landlords responsibility. Broken window will be replaced. It is on order.

24. 2022-10-26
    price $94,900 379-char remark

    Show marketing remark (379 chars)

    Vacant 2 family ready for an owner occupant or investor looking to make some cash flow. Property recently underwent a full renovation and has a current C of C. Each unit has a market value of $1000+ per month. Gas/electric are separately metered, making them the tenants responsibility. Water/sewer is the landlords responsibility. Broken window will be replaced. It is on order.

25. 2022-10-11
    price $99,900 379-char remark

    Show marketing remark (379 chars)

    Vacant 2 family ready for an owner occupant or investor looking to make some cash flow. Property recently underwent a full renovation and has a current C of C. Each unit has a market value of $1000+ per month. Gas/electric are separately metered, making them the tenants responsibility. Water/sewer is the landlords responsibility. Broken window will be replaced. It is on order.

26. 2022-09-30
    listed $109,900 Active 379-char remark

    Show marketing remark (379 chars)

    Vacant 2 family ready for an owner occupant or investor looking to make some cash flow. Property recently underwent a full renovation and has a current C of C. Each unit has a market value of $1000+ per month. Gas/electric are separately metered, making them the tenants responsibility. Water/sewer is the landlords responsibility. Broken window will be replaced. It is on order.

27. 2022-08-03
    historical
28. 2022-07-25
    listed $109,900 Active
29. 2021-07-08
    soldstatus $30,000
30. 2012-03-20
    historical
31. 2012-03-13
    soldstatus $30,000
32. 2012-03-12
    soldstatus $30,000
33. 2011-08-01
    listed $32,000
34. 2008-08-04
    soldstatus $27,000
35. 2007-03-14
    soldstatus $22,500

ⓘ 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: $1,026 · $86/mo
• Projected year-2 tax: $2,076 · $173/mo
• Expected delta: +$1,050/yr (+$88/mo · 102.3%)

ⓘ 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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,269
• − Mortgage interest: −$10,363
• − Property taxes: −$1,026
• − Insurance: −$925
• − Repairs & maintenance: −$1,862
• − Management: −$1,862
• − Depreciation: −$5,382
• Taxable income: $1,850
• Est. tax owed @ 24.0%: −$444
• After-tax cash flow: $4,345/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): 18,562

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 0.67)
• Race & ethnicity: Black 44% White 37% Two or more races 10% Hispanic / Latino 6% Asian 3%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 2% Italian 2% Swiss 1%
• Foreign-born: 9% · Canada, China, Vietnam
• Languages at home: 87% English-only · Spanish 5% Arabic 1% Other Indo-European 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: ▲ 10.12%
• Current HPI: 345.8854
• 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

+722.2% since first listed

20 events — show timeline

• 2026-05-13 Relisted — CNYIS
• 2026-05-04 Pending — CNYIS
• 2026-04-30 Listed $185,000 CNYIS
• 2023-02-14 Sold (Public Records) $69,000 Public Records
• 2023-02-10 Sold (MLS) $70,000 CNYIS
• 2022-12-13 Contingent — CNYIS
• 2022-12-04 Price Changed $69,900 CNYIS
• 2022-11-10 Price Changed $84,900 CNYIS
• 2022-10-26 Price Changed $94,900 CNYIS
• 2022-10-11 Price Changed $99,900 CNYIS
• 2022-09-30 Listed $109,900 CNYIS
• 2022-08-03 Listing Removed — CNYIS
• 2022-07-25 Listed $109,900 CNYIS
• 2021-07-08 Sold (Public Records) $30,000 Public Records
• 2012-03-20 Listing Removed — CNYIS
• 2012-03-13 Sold (MLS) $30,000 CNYIS
• 2012-03-12 Sold (Public Records) $30,000 Public Records
• 2011-08-01 Listed $32,000 CNYIS
• 2008-08-04 Sold (Public Records) $27,000 Public Records
• 2007-03-14 Sold (Public Records) $22,500 Public Records

Property tax history

+0.1%/yr

Latest (2025): $1,026 · +2.0% YoY. Source: county tax records.