115 Olmstead Pl · Westvale, NY 13219

$219,000

4 bd · 1.0 ba · 1,520 sqft · SingleFamily public records · 17 Days on market

Built 1928 9,600 sqft lot $144/sqft · 17% below area Est $265k · 17% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.1/30.0
• Schools +5.1/10.0
• 1% rule +4.5/10.0
• DSCR +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 4 Bedroom Bungalow/ Cape style home in quiet neighborhood in Taunton. This home has so much to offer any first time home owner including a bonus room and a additional carpeted room that could be used as a large closet or for additional storage. Many options for a home office as well. Enjoy the privacy of your fenced in back yard or sit on your newly stained front porch deck!!!

Key facts

• Cape-style home
• Hot water heater
• Brand-new furnace

Tags

• CAPE-STYLE HOME
• QUIET RESIDENTIAL STREET
• WEST GENESEE SCHOOL DISTRICT
• NEW ROOF
• BRAND-NEW FURNACE
• HOT WATER HEATER

Property features AI

Exterior

• Parking: Detached garage; 2-car garage
• Utilities: Public water connected; Sewer connected
• Home design: Single-story home; Resale property
• Construction: Vinyl siding; Block foundation; Existing structure
• Exterior features: Blacktop driveway; Open porch

Interior

• Kitchen: Gas oven; Gas range; Dishwasher; Refrigerator
• Bedrooms: 2 main level bedrooms
• Flooring: Hardwood; Carpet; Laminate; Varied flooring
• Bathrooms: 1 full bathroom (on main level)
• Heating & cooling: Forced air gas heating; Central air conditioning
• Interior features: Den; Living/dining room; Bedroom on main level; Full basement
• Laundry & utility: Washer and dryer; Laundry in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $219k.

Deal economics

• At list price, monthly cash flow is $33 ($395/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $208k (5.1% below list).
• Recommended offer: $208k (5.1% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.9% in Westvale — 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 80/100 on livability (#105 in NY, #1,731 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, health & safety A; Watch: amenities F, commute F.
• West Genesee Central School District (suburban): math 56% / reading 61% proficiency, ranked #241 of 590 in NY (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Onondaga Road Elementary School (math 52% / reading 67%, grade B-, #745 of 2,108 statewide, top 39%, 327 students, 31% FRL); West Genesee Middle School (math 42% / reading 62%, grade C+, #241 of 729 statewide, top 35%, 686 students, 32% FRL); West Genesee Senior High School (math 94%, 1,357 students, 30% FRL) — zoned schools average 31% FRL vs 15% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 53 active listings in the ZIP; solid renter incomes; 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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 17y ago; this cycle's ask has dropped $16k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $140k; list at $219k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $207,914 (5.1% below list)

Questions for the listing agent

1. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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: 0.95% ✗
• Cap rate: 6.47%
• Cash-on-cash: 0.64%
• DSCR: 1.03
• GRM: 8.8

CMA / ARV

• ARV (median comp): $265,054
• List price: $219,000
• Delta: -17.38%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
131 Marly Dr	0.36mi	3/1.5 (-1)	1,634 (+8%)	0mo	$350,000	$214	63
5291 Abbe Dr	0.31mi	3/1.5 (-1)	1,648 (+8%)	5mo	$240,000	$146	61
108 Olmstead Pl	0.04mi	3/1.0 (-1)	1,326 (-13%)	16mo	$180,000	$136	59
133 Hillcrest Rd	0.40mi	3/2.0 (-1)	1,428 (-6%)	9mo	$380,000	$266	55
4321 Fay Rd	0.28mi	4/1.5	1,738 (+14%)	20mo	$252,000	$145	44
4162 Onondaga Blvd	0.73mi	3/1.5 (-1)	1,416 (-7%)	5mo	$225,000	$159	43
2 Michele Dr	0.56mi	3/2.5 (-1)	1,644 (+8%)	11mo	$335,000	$204	40
623 Cherry Rd	0.68mi	3/1.5 (-1)	1,293 (-15%)	13mo	$302,000	$234	25

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: -15.2%
• Equity multiple: 0.46×
• Total profit: $-33,301
• Equity at exit: $32,654

10-year hold

• IRR: -6.6%
• Equity multiple: 0.58×
• Total profit: $-25,932
• Equity at exit: $18,935

Cash invested: $61,320 (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 13219

• Home prices YoY: -20.6%
• Active inventory: 53
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,079 medium
• Mortgage (P&I): −$1,148
• Tax from tax record: −$370 /mo · $4,439/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $33

Break-even live

Break-even rent $2,037

Max offer price $219,000

Occupancy floor 93%

Sensitivity live

Price	-10% $157	-5% $95	+0% $33	+5% $-29	+10% $-91
Rent	-10% $-131	-5% $-49	+0% $33	+5% $115	+10% $197
Rate	-1.0pp $143	-0.5pp $89	base $33	+0.5pp $-24	+1.0pp $-82

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-07
   statusdays on market $219,000 Pending 17 DOM
2. 2026-06-02
   days on market $219,000 Active 12 DOM
3. 2026-06-01
   status $219,000 Active 11 DOM
4. 2026-05-11
   status Pending 1112-char remark
5. 2026-05-09
   price $219,000 1112-char remark
6. 2026-04-30
   listed $235,000 Active 1112-char remark
7. 2020-09-25
   soldstatus $140,000 Closed Sale or Rented 389-char remark

   Show marketing remark (389 chars)

   Charming 4 Bedroom Bungalow/ Cape style home in quiet neighborhood in Taunton. This home has so much to offer any first time home owner including a bonus room and a additional carpeted room that could be used as a large closet or for additional storage. Many options for a home office as well. Enjoy the privacy of your fenced in back yard or sit on your newly stained front porch deck!!!

8. 2020-09-06
   status Pending Sale 389-char remark

   Show marketing remark (389 chars)

   Charming 4 Bedroom Bungalow/ Cape style home in quiet neighborhood in Taunton. This home has so much to offer any first time home owner including a bonus room and a additional carpeted room that could be used as a large closet or for additional storage. Many options for a home office as well. Enjoy the privacy of your fenced in back yard or sit on your newly stained front porch deck!!!

9. 2020-08-08
   status Under Contract- Do Not Show 389-char remark

   Show marketing remark (389 chars)

   Charming 4 Bedroom Bungalow/ Cape style home in quiet neighborhood in Taunton. This home has so much to offer any first time home owner including a bonus room and a additional carpeted room that could be used as a large closet or for additional storage. Many options for a home office as well. Enjoy the privacy of your fenced in back yard or sit on your newly stained front porch deck!!!

10. 2020-07-30
    listed $129,900 Active 389-char remark

    Show marketing remark (389 chars)

    Charming 4 Bedroom Bungalow/ Cape style home in quiet neighborhood in Taunton. This home has so much to offer any first time home owner including a bonus room and a additional carpeted room that could be used as a large closet or for additional storage. Many options for a home office as well. Enjoy the privacy of your fenced in back yard or sit on your newly stained front porch deck!!!

11. 2015-08-28
    soldstatus $106,000
12. 2009-11-23
    historical

    Show marketing remark (491 chars)

    Must go inside to appreciate this home. Remodeled from top to bottom in the past 3 years including: all plumbing, electrical, heating, appliances, countertops, etc. Kitchen features an abundance of cabinets and counters. Large closets in both main floor bedrooms plus a huge walk-in closet at the end of the hall upstairs. Nice computer room or play area at the top of the stairs. Country setting yetclose to shopping, schools & highway access. Taxes reflect NO exemptions. Great buy!!

13. 2009-11-23
    soldstatus $106,000

    Show marketing remark (491 chars)

    Must go inside to appreciate this home. Remodeled from top to bottom in the past 3 years including: all plumbing, electrical, heating, appliances, countertops, etc. Kitchen features an abundance of cabinets and counters. Large closets in both main floor bedrooms plus a huge walk-in closet at the end of the hall upstairs. Nice computer room or play area at the top of the stairs. Country setting yetclose to shopping, schools & highway access. Taxes reflect NO exemptions. Great buy!!

14. 2009-11-20
    soldstatus $106,000

    Show marketing remark (491 chars)

    Must go inside to appreciate this home. Remodeled from top to bottom in the past 3 years including: all plumbing, electrical, heating, appliances, countertops, etc. Kitchen features an abundance of cabinets and counters. Large closets in both main floor bedrooms plus a huge walk-in closet at the end of the hall upstairs. Nice computer room or play area at the top of the stairs. Country setting yetclose to shopping, schools & highway access. Taxes reflect NO exemptions. Great buy!!

15. 2009-07-21
    listed $109,900

    Show marketing remark (491 chars)

    Must go inside to appreciate this home. Remodeled from top to bottom in the past 3 years including: all plumbing, electrical, heating, appliances, countertops, etc. Kitchen features an abundance of cabinets and counters. Large closets in both main floor bedrooms plus a huge walk-in closet at the end of the hall upstairs. Nice computer room or play area at the top of the stairs. Country setting yetclose to shopping, schools & highway access. Taxes reflect NO exemptions. Great buy!!

16. 2005-12-06
    soldstatus $78,239

ⓘ 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: $4,439 · $370/mo
• Projected year-2 tax: $4,439 · $370/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°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: $24,950
• − Mortgage interest: −$12,267
• − Property taxes: −$4,439
• − Insurance: −$1,095
• − Repairs & maintenance: −$1,996
• − Management: −$1,996
• − Depreciation: −$6,371
• Taxable loss: −$3,214
• Est. tax savings @ 24.0%: +$771
• After-tax cash flow: $1,166/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: West Genesee Central School District
• NCES district ID: 3630630
• Math proficiency: 56% ▼ -13.00%
• Reading proficiency: 61% ▲ 3.00%
• Median HH income: $65,588
• Composite: 51.31/100
• National rank: #1745
• State rank: #241 of 590 in NY

Livability — Westvale

• Score: 80/100
• State rank: #105
• US rank: #1731

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Onondaga County · 247,257 people
• City population: 15,546
• Metro: Syracuse, NY
• Population (ZIP): 14,744
• Household income: $85,149
• Rent vs Own: 14.1% rent · 85.9% own
• Severe rent burden: 222.0

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 (87%)
• Race & ethnicity: White 87% Two or more races 5% Hispanic / Latino 5% Black 4% Asian 1%
• Common ancestry: Romanian 8% Lithuanian 4% Subsaharan African 3%
• Foreign-born: 7% · Canada
• Languages at home: 91% English-only · Russian/Polish/Slavic 3% Spanish 2% Arabic 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: ▼ -77.80%
• Current HPI: 300.7211
• 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

+179.9% since first listed

15 events — show timeline

• 2026-06-07 Pending — UNYREIS
• 2026-06-01 Relisted — UNYREIS
• 2026-05-11 Pending — UNYREIS
• 2026-05-09 Price Changed $219,000 UNYREIS
• 2026-04-30 Listed $235,000 UNYREIS
• 2020-09-25 Sold (MLS) $140,000 CNYIS
• 2020-09-06 Pending — CNYIS
• 2020-08-08 Pending — CNYIS
• 2020-07-30 Listed $129,900 CNYIS
• 2015-08-28 Sold (Public Records) $106,000 Public Records
• 2009-11-23 Sold (Public Records) $106,000 Public Records
• 2009-11-23 Listing Removed — CNYIS
• 2009-11-20 Sold (MLS) $106,000 CNYIS
• 2009-07-21 Listed $109,900 CNYIS
• 2005-12-06 Sold (Public Records) $78,239 Public Records

Property tax history

+3.9%/yr

Latest (2025): $4,439 · +1.5% YoY. Source: county tax records.