1021 W Colvin St · Syracuse, NY 13207

$120,000

4 bd · 2.0 ba · 1,800 sqft · SingleFamily public records · 42 Days on market

Built 1925 4,356 sqft lot $67/sqft · 9% above area Est $110k · 9% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• ARV discount +3.4/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks

Investor alert! This spacious 1,800 sq ft, 3-bedroom, 1-bath Colonial offers incredible character and strong rental potential. The first floor welcomes you with an impressive layout, featuring a huge living room perfect for comfortable everyday living and a formal dining room ideal for gatherings or extra workspace. The home has been well maintained, including a hot water tank replaced just 3 years ago, offering peace of mind for future ownership. Currently tenant-occupied, this property provides rental income from day one. Located in a prime Syracuse area with quick access to I-81, nearby restaurants, and Destiny USA Shopping Center, this home sits in a highly accessible and convenient loc

Key facts

• Formal dining room
• Huge living room
• Quick access to i-81

Tags

• IMPRESSIVE LAYOUT
• HUGE LIVING ROOM
• FORMAL DINING ROOM
• HOT WATER TANK REPLACED
• PRIME SYRACUSE AREA
• QUICK ACCESS TO I-81

Property features AI

Exterior

• Parking: No garage; Shared driveway
• Utilities: Electricity connected; Public water connected; Sewer connected; Cable available; High-speed internet available
• Home design: 2 stories; Resale property; Vinyl siding
• Construction: Vinyl siding construction; Existing year built
• Exterior features: Above-ground pool; Rectangular residential lot; City street frontage

Interior

• Flooring: Hardwood; Vinyl; Varies
• Bathrooms: 1 full bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Den; Separate/formal living room; Bonus room; Other (see remarks); Partially finished basement; Has basement; 8 total rooms
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $753 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.8% 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: 63 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k 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 $34k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 4 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 $17k; list at $120k implies a 595% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $116,400 (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. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.59% ✓
• Cap rate: 13.82%
• Cash-on-cash: 26.89%
• DSCR: 2.20
• GRM: 5.2

CMA / ARV

• ARV (median comp): $109,943
• List price: $120,000
• Delta: 9.15%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
269 Mclennan Ave	0.39mi	4/2.5	1,740 (-3%)	4mo	$141,000	$81	70
1110 Midland Ave	0.39mi	4/1.5	1,751 (-3%)	6mo	$70,000	$40	70
185 Clyde Ave	0.31mi	5/2.0 (+1)	1,608 (-11%)	6mo	$127,500	$79	58
250 Mclennan Ave	0.44mi	4/1.0	2,016 (+12%)	0mo	$130,000	$64	56
875 W Lafayette Ave	0.35mi	4/1.0	1,568 (-13%)	4mo	$160,000	$102	55
2331 Midland Ave	0.61mi	4/1.5	1,664 (-8%)	3mo	$90,000	$54	54
411 Robineau Rd	0.73mi	3/1.5 (-1)	1,887 (+5%)	0mo	$305,000	$162	50
504 W Newell St	0.43mi	3/1.0 (-1)	1,545 (-14%)	0mo	$110,000	$71	47
104 Hutchinson Ave	0.61mi	4/1.5	2,016 (+12%)	7mo	$177,500	$88	44
326 Coolidge Ave	0.66mi	4/1.0	1,578 (-12%)	5mo	$107,000	$68	40
317 Wellesley Rd	0.70mi	3/1.5 (-1)	1,632 (-9%)	6mo	$190,000	$116	39
129 W Pleasant Ave	0.75mi	4/1.5	1,532 (-15%)	4mo	$160,000	$104	35

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: 20.8%
• Equity multiple: 1.85×
• Total profit: $28,496
• Equity at exit: $17,892

10-year hold

• IRR: 28.9%
• Equity multiple: 3.57×
• Total profit: $86,500
• Equity at exit: $10,375

Cash invested: $33,600 (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: 5.2×

Monthly cashflow live

• Estimated rent: $1,910 high
• Mortgage (P&I): −$629
• Tax from tax record: −$76 /mo · $915/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$401
• Net cashflow: $753

Break-even live

Break-even rent $956

Max offer price $120,000

Occupancy floor 56%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 12 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	0.28mi
269 W Borden Ave Syracuse, NY	4.0	1.5	1800	$650	$0.36	21d	1	0.35mi
2331 Midland Ave Syracuse, NY	4.0	1.5	1664	$2,300	$1.38	21d	1	0.60mi
147 E Matson Ave Syracuse, NY	3.0	2.5	1421	$2,000	$1.41	21d	1	1.05mi
326 Holland St Unit 1 Syracuse, NY	3.0	1.0	2100	$1,825	$0.87	44d	1	1.07mi
318 Kellogg St Unit 2 Syracuse, NY	3.0	1.0	1523	$1,675	$1.10	44d	1	1.11mi
318 Kellogg St Unit 1 Syracuse, NY	3.0	1.0	1523	$1,650	$1.08	44d	1	1.11mi
1110 Bellevue Ave Syracuse, NY	3.0	1.0	1449	$1,500	$1.04	44d	1	1.12mi
315 Grant Ave #17 Syracuse, NY	3.0	2.0	1477	$1,275	$0.86	13d	1	1.18mi
214 Rowland St Syracuse, NY	4.0	1.0	2092	$1,800	$0.86	13d	1	1.25mi
259 Robert Dr Syracuse, NY	3.0	1.5	1350	$699	$0.52	44d	1	1.28mi
102 Newbury Hollow Ln Syracuse, NY	3.0	2.0	2000	$2,300	$1.15	44d	1	1.29mi

Listing history 24 events

1. 2026-06-18
   days on market $120,000 Active 42 DOM
2. 2026-06-17
   days on market $120,000 Active 41 DOM
3. 2026-06-16
   days on market $120,000 Active 40 DOM
4. 2026-06-15
   days on market $120,000 Active 39 DOM
5. 2026-06-14
   days on market $120,000 Active 37 DOM
6. 2026-06-13
   days on market $120,000 Active 36 DOM
7. 2026-06-10
   days on market $120,000 Active 34 DOM
8. 2026-06-09
   days on market $120,000 Active 33 DOM
9. 2026-06-08
   days on market $120,000 Active 32 DOM
10. 2026-06-07
    days on market $120,000 Active 31 DOM
11. 2026-06-05
    days on market $120,000 Active 28 DOM
12. 2026-06-02
    days on market $120,000 Active 26 DOM
13. 2026-06-01
    days on market $120,000 Active 25 DOM
14. 2026-05-31
    statusdays on market $120,000 Active 24 DOM
15. 2026-05-30
    days on market $120,000 Active Under Contract 23 DOM
16. 2026-05-13
    historical Active Under Contract 769-char remark
17. 2026-05-07
    listed $120,000 Active 769-char remark
18. 2026-05-04
    historical
19. 2026-01-14
    price $115,000
20. 2025-12-10
    listed $120,000 Active
21. 2011-03-09
    historical
22. 2011-03-03
    soldstatus $17,270
23. 2011-03-02
    soldstatus $17,270
24. 2011-01-24
    listed $17,270

ⓘ 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: $915 · $76/mo
• Projected year-2 tax: $1,471 · $123/mo
• Expected delta: +$557/yr (+$46/mo · 60.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 47% 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: $22,914
• − Mortgage interest: −$6,722
• − Property taxes: −$915
• − Insurance: −$600
• − Repairs & maintenance: −$1,833
• − Management: −$1,833
• − Depreciation: −$3,491
• Taxable income: $7,520
• Est. tax owed @ 24.0%: −$1,805
• After-tax cash flow: $7,231/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

+594.8% since first listed

10 events — show timeline

• 2026-05-31 Relisted — CNYIS
• 2026-05-13 Contingent — CNYIS
• 2026-05-07 Listed $120,000 CNYIS
• 2026-05-04 Listing Removed — CNYIS
• 2026-01-14 Price Changed $115,000 CNYIS
• 2025-12-10 Listed $120,000 CNYIS
• 2011-03-09 Listing Removed — CNYIS
• 2011-03-03 Sold (Public Records) $17,270 Public Records
• 2011-03-02 Sold (MLS) $17,270 CNYIS
• 2011-01-24 Listed $17,270 CNYIS

Property tax history

-0.2%/yr

Latest (2025): $915 · +0.4% YoY. Source: county tax records.