101 W Irving St · East Syracuse, NY 13057

$215,000

4 bd · 2.5 ba · 1,684 sqft · MultiFamily public records · 15 Days on market

Built 1925 Est $202k · 6% 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
• ARV discount +4.6/15.0
• Livability +4.5/5.0
• Schools +4.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 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

* PHENOMENAL INVESTOR OPPORTUNITY! * Located on a quiet street in the sought after village of East Syracuse in ES-M school district! This 2 family home has a cozy first floor apartment which includes 2 bedrooms and a full bathroom, an enclosed front porch, CENTRAL AIR CONDITIONING, a partially finished basement with storage, washer and dryer hookups, a full bathroom and a central vacuum system and a detached garage with electricity. The second floor apartment includes 2 bedrooms and an Eat in kitchen, full bathroom and is ready for a custom update. Off street rear parking for 4 vehicles. A fully fenced yard and extended lot attached to the property.

Key facts

• Fully fenced yard
• Extended lot
• Built 1925

Tags

• CENTRAL AIR CONDITIONING
• PARTIALLY FINISHED BASEMENT
• CENTRAL VACUUM SYSTEM
• OFF STREET REAR PARKING
• FULLY FENCED YARD
• EXTENDED LOT

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $215k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $527/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $215k).
• Recommended offer: $212k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.2% vs local median 7.0% in East 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 90/100 on livability (#4 in NY, #81 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+.
• East Syracuse Minoa Central School District (rural): math 46% / reading 53% proficiency, ranked #379 of 590 in NY (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: East Syracuse Elementary School (math 27% / reading 42%, grade F, #1,577 of 2,108 statewide, top 77%, 363 students, 70% FRL); Pine Grove Middle School (math 29% / reading 49%, grade F, #433 of 729 statewide, top 60%, 672 students, 43% FRL); East Syracuse Minoa Central High School (math 97% / reading 87%, grade A+, #171 of 1,100 statewide, top 18%, 1,183 students, 60% FRL) — zoned schools average 58% FRL vs 29% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 59 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• At $3,518/mo this rent would consume 52% of the median local household income ($81k/yr) (locally 250% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 $60k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $96k; list at $215k implies a 125% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $211,775 (1.5% below list)

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 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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: 1.64% ✓
• Cap rate: 12.17%
• Cash-on-cash: 21.00%
• DSCR: 1.93
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $202,080
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
308 Mccool Ave	0.25mi	4/2.0	1,536 (-9%)	6mo	$185,000	$120	66
624 W Manlius St	0.49mi	4/2.0	1,928 (+14%)	15mo	$182,000	$94	38

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: 13.5%
• Equity multiple: 1.54×
• Total profit: $32,459
• Equity at exit: $32,057

10-year hold

• IRR: 22.4%
• Equity multiple: 2.92×
• Total profit: $115,478
• Equity at exit: $18,589

Cash invested: $60,200 (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 13057

• Home prices YoY: -11.1%
• Active inventory: 59
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $3,518 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$509 /mo · $6,104/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$739
• Net cashflow: $1,053

Break-even live

Break-even rent $2,184

Max offer price $215,000

Occupancy floor 65%

Sensitivity live

Price	-10% $1,175	-5% $1,114	+0% $1,053	+5% $993	+10% $932
Rent	-10% $776	-5% $915	+0% $1,053	+5% $1,192	+10% $1,331
Rate	-1.0pp $1,162	-0.5pp $1,108	base $1,053	+0.5pp $998	+1.0pp $941

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$3,518
Total (2 units)			$3,518

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
116 Stillwater Dr East Syracuse, NY	3.0	2.5	1692	$3,000	$1.77	22d	1	0.68mi
99 Alpine Dr Unit 107-2 Syracuse, NY	3.0	1.0	1100	$1,700	$1.55	45d	1	1.10mi
6463 Wells Dr Unit 6465 East Syracuse, NY	3.0	2.0	1519	$1,800	$1.18	22d	1	1.18mi

Listing history 3 events

1. 2026-05-12
   listed $215,000 Active
2. 2007-05-21
   soldstatus $95,500
3. 2004-04-08
   soldstatus $82,500

ⓘ 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: $6,104 · $509/mo
• Projected year-2 tax: $6,104 · $509/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 100% 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: $42,216
• − Mortgage interest: −$12,043
• − Property taxes: −$6,104
• − Insurance: −$1,075
• − Repairs & maintenance: −$3,377
• − Management: −$3,377
• − Depreciation: −$6,255
• Taxable income: $9,985
• Est. tax owed @ 24.0%: −$2,396
• After-tax cash flow: $10,246/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: East Syracuse Minoa Central School District
• NCES district ID: 3609990
• Math proficiency: 46% ▼ -6.00%
• Reading proficiency: 53% ▲ 9.00%
• Median HH income: $55,801
• Composite: 42.9/100
• National rank: #3122
• State rank: #379 of 590 in NY

Livability — East Syracuse

• Score: 90/100
• State rank: #4
• US rank: #81

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Syracuse, NY
• County: Onondaga County · 247,257 people
• City population: 14,253
• Metro: Syracuse, NY
• Population (ZIP): 14,253
• Household income: $80,900
• Rent vs Own: 24.0% rent · 76.0% own
• Severe rent burden: 250.0

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: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 5% Hispanic / Latino 3% Asian 2% Black 2%
• Common ancestry: Romanian 5% Lithuanian 4% American 3%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 92% English-only · Russian/Polish/Slavic 3% Spanish 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: ▼ -39.50%
• Current HPI: 316.8595
• 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

+160.6% since first listed

3 events — show timeline

• 2026-05-12 Listed $215,000 FSBO.com
• 2007-05-21 Sold (Public Records) $95,500 Public Records
• 2004-04-08 Sold (Public Records) $82,500 Public Records

Property tax history

+4.3%/yr

Latest (2025): $6,104 · +14.2% YoY. Source: county tax records.