212 Lexington Ave · Syracuse, NY 13210

$279,900

5 bd · 2.0 ba · 1,997 sqft · MultiFamily public records · 11 Days on market

Built 1900 5,250 sqft lot Est $222k · 26% over

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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 +27.1/30.0
• DSCR +9.4/10.0
• 1% rule +6.2/10.0
• Rent growth +5.0/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• ARV discount +0.0/15.0
• 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

Fully updated duplex featuring modern finishes throughout both units. Recent improvements include refreshed kitchens, bathrooms, flooring, lighting, and paint. Separate utilities and strong rental potential make this an excellent owner-occupant or investment opportunity. Conveniently located near shopping, dining, schools, and major highways!

Key facts

• Refreshed kitchens
• Updated duplex
• Refreshed bathrooms

Tags

• UPDATED DUPLEX
• REFRESHED KITCHENS
• REFRESHED BATHROOMS
• STRONG RENTAL POTENTIAL
• CONVENIENTLY LOCATED

Property features AI

Finance

• Other: Two total units; Two units in the community; Two separate gas meters; Two separate electric meters
• Financial info: Operating expenses may include water/sewer (see remarks); Owner pays water (per remarks)

Exterior

• Parking: Paved parking with two or more spaces
• Utilities: Public water connected; Sewer connected
• Home design: Two-story building; Resale property; Vinyl siding exterior
• Construction: Vinyl siding construction; Existing year built (pre-owned property)
• Exterior features: Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Gas water heater noted (appliance/service)
• Bedrooms: Two 2-bedroom units (each with 2 bedrooms)
• Flooring: Luxury vinyl
• Bathrooms: Two full bathrooms (one full bath per unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement; Luxury vinyl flooring
• Laundry & utility: Separate gas and electric meters for each unit

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $280k.

Deal economics

• At list price, monthly cash flow is $790 ($9k/yr) — positive. Per door: $395/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $280k).

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: Rents rising fast (+11.2%/yr); 58 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); lower-income renter base — watch delinquency; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• At $3,129/mo this rent would consume 90% of the median local household income ($42k/yr) (locally 2307% 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 $2k of loan paydown is wiped out by about $8k 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 + 8.0% rent growth), your $78k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $50k; list at $280k implies a 460% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $279,900

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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.12% ✓
• Cap rate: 9.68%
• Cash-on-cash: 12.10%
• DSCR: 1.54
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $221,667
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
320 Westmoreland Ave	0.28mi	6/2.0 (+1)	2,064 (+3%)	8mo	$230,000	$111	70
457-459 Westmoreland Ave	0.31mi	4/2.0 (-1)	1,887 (-6%)	9mo	$248,000	$131	64
328 Westmoreland Ave	0.28mi	6/2.0 (+1)	2,134 (+7%)	9mo	$245,000	$115	63
807 Burnet Ave	0.60mi	4/2.0 (-1)	2,016 (+1%)	4mo	$205,000	$102	62
339 N Beech St	0.66mi	5/2.0	2,016 (+1%)	9mo	$190,000	$94	60
129-131 Mather St	0.62mi	4/2.0 (-1)	1,862 (-7%)	11mo	$168,000	$90	46
112 Ashworth Pl	0.67mi	5/2.0	1,858 (-7%)	16mo	$300,000	$161	44
315 Fellows Ave	0.63mi	4/3.0 (-1)	2,100 (+5%)	12mo	$395,000	$188	43
107 Craton St	0.72mi	5/2.0	2,228 (+12%)	7mo	$280,000	$126	41
1628 Hawley Ave	0.59mi	5/2.0	1,812 (-9%)	21mo	$190,000	$105	39
522 Winton St	0.73mi	6/2.0 (+1)	2,112 (+6%)	18mo	$150,000	$71	36
350 Elm St	0.73mi	6/3.0 (+1)	1,806 (-10%)	20mo	$156,000	$86	24

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 6.7%
• Equity multiple: 1.27×
• Total profit: $21,403
• Equity at exit: $41,734

10-year hold

• IRR: 19.7%
• Equity multiple: 3.02×
• Total profit: $158,269
• Equity at exit: $24,201

Cash invested: $78,372 (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 13210

• Home prices YoY: -9.0%
• Rents YoY: 11.2%
• Active inventory: 58
• Price-to-rent: 14.9×

Monthly cashflow live

• Estimated rent: $3,129 high
• Mortgage (P&I): −$1,468
• Tax from tax record: −$97 /mo · $1,167/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$657
• Net cashflow: $790

Break-even live

Break-even rent $2,129

Max offer price $279,900

Occupancy floor 70%

Sensitivity live

Price	-10% $949	-5% $869	+0% $790	+5% $711	+10% $632
Rent	-10% $543	-5% $667	+0% $790	+5% $914	+10% $1,037
Rate	-1.0pp $931	-0.5pp $861	base $790	+0.5pp $718	+1.0pp $644

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,128
Total (2 units)			$3,129

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
922 Westcott St Syracuse, NY	4.0	2.0	1700	$2,000	$1.18	21d	1	0.85mi
365 Green St Syracuse, NY	5.0	3.5	2263	$3,300	$1.46	21d	1	1.01mi
215 Locksley Rd Syracuse, NY	4.0	3.5	2352	$4,300	$1.83	14d	1	1.40mi

Listing history 7 events

1. 2026-06-03
   status $279,900 Pending 11 DOM
2. 2026-06-02
   days on market $279,900 Active 11 DOM
3. 2026-06-01
   days on market $279,900 Active 10 DOM
4. 2026-05-31
   days on market $279,900 Active 9 DOM
5. 2026-05-30
   days on market $279,900 Active 8 DOM
6. 2026-05-22
   listed $279,900 Active
7. 2024-08-01
   soldstatus $50,000

ⓘ 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: $1,167 · $97/mo
• Projected year-2 tax: $2,948 · $246/mo
• Expected delta: +$1,782/yr (+$148/mo · 152.7%)

ⓘ 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 ≥94°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: $37,548
• − Mortgage interest: −$15,679
• − Property taxes: −$1,167
• − Insurance: −$1,400
• − Repairs & maintenance: −$3,004
• − Management: −$3,004
• − Depreciation: −$8,143
• Taxable income: $5,153
• Est. tax owed @ 24.0%: −$1,237
• After-tax cash flow: $8,246/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: 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): 19,803
• Household income: $41,738
• Rent vs Own: 70.6% rent · 29.4% own
• Severe rent burden: 2307.0

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 58% Black 18% Asian 9% Hispanic / Latino 9% Two or more races 8%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 3% Lithuanian 3% Italian 2%
• Foreign-born: 18% · China, Canada, South Korea
• Languages at home: 78% English-only · Chinese 5% Spanish 4% Other Indo-European 2%

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: ▼ -37.59%
• Current HPI: 378.0277
• Rent YoY: ▲ 11.18%
• 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

+459.8% since first listed

2 events — show timeline

• 2026-05-22 Listed $279,900 CNYIS
• 2024-08-01 Sold (Public Records) $50,000 Public Records

Property tax history

-0.1%/yr

Latest (2025): $1,167 · +0.0% YoY. Source: county tax records.