317 E Division St · Syracuse, NY 13208

$119,900

4 bd · 2.0 ba · 2,016 sqft · MultiFamily public records · 96 Days on market

Built 1870 3,290 sqft lot Est $105k · 14% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• ARV discount +1.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Brick 2 family now VACANT and rent ready or to live in. Separate utilities. 2023 Roof. Many updates. Showing Tuesday and Saturday.

Key facts

• 3,290 sq ft lot
• 2 parking spots
• Built 1870

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $120k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $837/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $120k).
• Recommended offer: $109k (9.0% below list) — sets the bar for market timing.
• Cap rate 23.0% 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: 99 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• At $3,108/mo this rent would consume 83% of the median local household income ($45k/yr) (locally 1437% 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 $13k of equity ($829 loan paydown + $12k 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 $34k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, 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 96 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 1870 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,109 (9.0% below list)

Questions for the listing agent

1. It's been on market 96 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 1870 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 2.59% ✓
• Cap rate: 23.04%
• Cash-on-cash: 59.80%
• DSCR: 3.66
• GRM: 3.2

CMA / ARV

• ARV (on-the-fly): $104,832
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
317 E Division St	0.00mi	4/2.0	2,016 (0%)	2mo	$119,900	$59	99
1021 N Townsend St	0.06mi	3/2.0 (-1)	2,030 (+1%)	6mo	$69,900	$34	86
1213 N State St	0.27mi	5/2.0 (+1)	2,157 (+7%)	2mo	$72,000	$33	69
1107 Butternut St	0.54mi	4/2.0	2,002 (-1%)	9mo	$34,900	$17	66
1412 N State St	0.38mi	4/2.0	2,168 (+8%)	10mo	$70,000	$32	62
128 John St	0.23mi	5/2.0 (+1)	2,269 (+12%)	6mo	$129,000	$57	59
113 Grumbach Ave	0.65mi	4/2.0	1,888 (-6%)	0mo	$183,000	$97	59
122 Josephine St	0.26mi	4/2.0	2,212 (+10%)	16mo	$83,000	$38	58
1004 Highland St #6	0.67mi	4/2.0	2,034 (+1%)	16mo	$84,000	$41	54
517 Carbon St	0.39mi	4/2.0	1,728 (-14%)	6mo	$90,000	$52	53
2414 Lodi St	0.58mi	5/2.0 (+1)	2,095 (+4%)	14mo	$115,000	$55	49
143 Highland Ave	0.69mi	5/2.5 (+1)	1,850 (-8%)	7mo	$215,000	$116	41

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 72.0%
• Equity multiple: 6.12×
• Total profit: $171,882
• Equity at exit: $108,015

10-year hold

• IRR: 65.9%
• Equity multiple: 13.58×
• Total profit: $422,401
• Equity at exit: $232,939

Cash invested: $33,572 (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 13208

• Home prices YoY: 8.4%
• Active inventory: 99
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $3,108 high
• Mortgage (P&I): −$629
• Tax from tax record: −$103 /mo · $1,241/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$653
• Net cashflow: $1,673

Break-even live

Break-even rent $990

Max offer price $119,900

Occupancy floor 41%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,108
Total (2 units)			$3,108

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
746 E Laurel St Unit 1 Syracuse, NY	4.0	2.0	1400	$1,500	$1.07	44d	1	0.43mi
712 Oak St Syracuse, NY	3.0	1.0	2461	$1,700	$0.69	21d	1	0.83mi
447 E Washington St Syracuse, NY	3.0	1.5	2095	$2,100	$1.00	13d	1	0.85mi
365 Green St Syracuse, NY	5.0	3.5	2263	$3,300	$1.46	21d	1	0.94mi

Listing history 8 events

1. 2026-05-01
   soldstatus $119,900
2. 2026-01-20
   status Pending
3. 2026-01-10
   status Active
4. 2026-01-05
   status Pending
5. 2025-10-10
   listed $119,900 Active
6. 2012-12-05
   soldstatus $40,000
7. 2009-11-17
   soldstatus $25,500
8. 2002-12-26
   soldstatus $22,000

ⓘ 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: $1,241 · $103/mo
• Projected year-2 tax: $1,634 · $136/mo
• Expected delta: +$392/yr (+$33/mo · 31.6%)

ⓘ 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
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,296
• − Mortgage interest: −$6,716
• − Property taxes: −$1,241
• − Insurance: −$600
• − Repairs & maintenance: −$2,984
• − Management: −$2,984
• − Depreciation: −$3,488
• Taxable income: $19,283
• Est. tax owed @ 24.0%: −$4,628
• After-tax cash flow: $15,450/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): 22,993
• Household income: $44,712
• Rent vs Own: 50.8% rent · 49.2% own
• Severe rent burden: 1437.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 46% Black 24% Asian 14% Two or more races 10% Hispanic / Latino 6%
• Hispanic origin (detail): Puerto Rican 4% Dominican 1%
• Common ancestry: Romanian 3% Swedish 3% Italian 1%
• Foreign-born: 22% · Vietnam, Philippines, Canada
• Languages at home: 70% English-only · Spanish 6% Other Asian/Pacific 5% Vietnamese 4%

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: ▲ 30.91%
• Current HPI: 399.3284
• Rent YoY: —
• 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

+445.0% since first listed

8 events — show timeline

• 2026-05-01 Sold (Public Records) $119,900 Public Records
• 2026-01-20 Pending — CNYIS
• 2026-01-10 Relisted — CNYIS
• 2026-01-05 Pending — CNYIS
• 2025-10-10 Listed $119,900 CNYIS
• 2012-12-05 Sold (Public Records) $40,000 Public Records
• 2009-11-17 Sold (Public Records) $25,500 Public Records
• 2002-12-26 Sold (Public Records) $22,000 Public Records

Property tax history

+0.8%/yr

Latest (2025): $1,241 · +0.0% YoY. Source: county tax records.