1109 Wolf St · Syracuse, NY 13208

$280,000

6 bd · 2.0 ba · 2,500 sqft · MultiFamily public records · 60 Days on market

Built 1900 3,942 sqft lot $112/sqft · at area comps Est $294k · at est.

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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 +26.0/30.0
• Appreciation +10.0/10.0
• ARV discount +9.6/15.0
• DSCR +8.8/10.0
• 1% rule +5.8/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0

Multi-family units

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

Listing remarks MLS

North Side Syracuse Two-Family. Excellent Cap Rate. The numbers do the talking here. Two units at $1,660/month each, tenants pay their own utilities keeping expenses in check. Hardwood floors throughout. Low-maintenance and income-producing.

Key facts

• Income-producing
• North side syracuse
• Two-family

Tags

• NORTH SIDE SYRACUSE
• TWO-FAMILY
• HARDWOOD FLOORS
• INCOME-PRODUCING

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $280k.

Deal economics

• At list price, monthly cash flow is $698 ($8k/yr) — positive. Per door: $349/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $280k).
• Recommended offer: $272k (3.0% below list) — sets the bar for market timing.

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; lower-income renter base — watch delinquency; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• At $3,023/mo this rent would consume 81% 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 $30k of equity ($2k loan paydown + $28k 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 $78k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$48k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($272k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y ago; this cycle's ask is 30% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $66k; list at $280k implies a 326% 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 $271,600 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
8. 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.
9. 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.
10. 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: 1.08% ✓
• Cap rate: 9.28%
• Cash-on-cash: 10.68%
• DSCR: 1.48
• GRM: 7.7

CMA / ARV

• ARV (median comp): $293,628
• List price: $280,000
• Delta: -4.64%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1203-05 Court St	0.46mi	5/2.0 (-1)	2,544 (+2%)	10mo	$275,000	$108	62
2725 Grant Blvd #27	0.45mi	6/2.0	2,320 (-7%)	8mo	$265,500	$114	61
124 7th North St #26	0.44mi	6/2.0	2,704 (+8%)	7mo	$235,000	$87	60
110 Murray Ave	0.30mi	6/2.0	2,796 (+12%)	21mo	$140,000	$50	49
958 Lemoyne Ave	0.23mi	5/3.0 (-1)	2,140 (-14%)	9mo	$220,000	$103	49
114 Burdick Ave	0.41mi	5/2.0 (-1)	2,356 (-6%)	22mo	$160,000	$68	48
177 Kuhl Ave	0.62mi	7/2.0 (+1)	2,776 (+11%)	3mo	$205,000	$74	45
1411 Spring St	0.64mi	6/3.0	2,732 (+9%)	11mo	$165,000	$60	41
1705 Court St	0.64mi	6/3.0	2,650 (+6%)	21mo	$260,000	$98	39
401 Lemoyne Ave	0.74mi	5/2.0 (-1)	2,312 (-8%)	13mo	$169,900	$73	37
507 - 509 Lemoyne Ave	0.68mi	7/2.0 (+1)	2,834 (+13%)	17mo	$134,900	$48	27

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: 32.1%
• Equity multiple: 3.51×
• Total profit: $196,842
• Equity at exit: $252,246

10-year hold

• IRR: 27.7%
• Equity multiple: 7.95×
• Total profit: $544,502
• Equity at exit: $543,978

Cash invested: $78,400 (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: 15.4×

Monthly cashflow live

• Estimated rent: $3,023 high
• Mortgage (P&I): −$1,468
• Tax from tax record: −$105 /mo · $1,263/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$635
• Net cashflow: $698

Break-even live

Break-even rent $2,140

Max offer price $280,000

Occupancy floor 72%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,022
Total (2 units)			$3,023

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: $70,000
• Closing costs: $8,400
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $280,000 Active 60 DOM
2. 2026-06-17
   days on market $280,000 Active 59 DOM
3. 2026-06-16
   days on market $280,000 Active 58 DOM
4. 2026-06-15
   days on market $280,000 Active 57 DOM
5. 2026-06-14
   days on market $280,000 Active 55 DOM
6. 2026-06-13
   days on market $280,000 Active 54 DOM
7. 2026-06-10
   days on market $280,000 Active 52 DOM
8. 2026-06-09
   days on market $280,000 Active 51 DOM
9. 2026-06-08
   days on market $280,000 Active 50 DOM
10. 2026-06-07
    days on market $280,000 Active 49 DOM
11. 2026-06-05
    days on market $280,000 Active 46 DOM
12. 2026-06-02
    days on market $280,000 Active 44 DOM
13. 2026-06-01
    days on market $280,000 Active 43 DOM
14. 2026-05-31
    days on market $280,000 Active 42 DOM
15. 2026-05-30
    days on market $280,000 Active 41 DOM
16. 2026-04-19
    listed $214,900 Active 241-char remark

    Show marketing remark (241 chars)

    North Side Syracuse Two-Family. Excellent Cap Rate. The numbers do the talking here. Two units at $1,660/month each, tenants pay their own utilities keeping expenses in check. Hardwood floors throughout. Low-maintenance and income-producing.

17. 2022-02-20
    price $1,100
18. 2021-04-07
    historical
19. 2021-02-07
    listed $115,000 Active
20. 2011-04-01
    historical
21. 2011-03-30
    soldstatus $65,700
22. 2011-03-24
    soldstatus $65,700
23. 2010-07-24
    listed $69,900
24. 2002-02-06
    soldstatus $19,500

ⓘ 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: $1,263 · $105/mo
• Projected year-2 tax: $2,997 · $250/mo
• Expected delta: +$1,735/yr (+$145/mo · 137.4%)

ⓘ 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 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: $36,276
• − Mortgage interest: −$15,684
• − Property taxes: −$1,263
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,902
• − Management: −$2,902
• − Depreciation: −$8,145
• Taxable income: $3,979
• Est. tax owed @ 24.0%: −$955
• After-tax cash flow: $7,420/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

+1002.1% since first listed

9 events — show timeline

• 2026-04-19 Listed $214,900 CNYIS
• 2022-02-20 Price Changed $1,100 RENT.
• 2021-04-07 Listing Removed — CNYIS
• 2021-02-07 Listed $115,000 CNYIS
• 2011-04-01 Listing Removed — CNYIS
• 2011-03-30 Sold (MLS) $65,700 CNYIS
• 2011-03-24 Sold (Public Records) $65,700 Public Records
• 2010-07-24 Listed $69,900 CNYIS
• 2002-02-06 Sold (Public Records) $19,500 Public Records

Property tax history

+0.2%/yr

Latest (2025): $1,263 · +0.0% YoY. Source: county tax records.