318 Seeley Rd · Syracuse, NY 13224

$185,000

4 bd · 1.0 ba · 1,080 sqft · SingleFamily public records · 27 Days on market

Built 1952 6,930 sqft lot Est $193k · 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 +25.9/30.0
• ARV discount +9.4/15.0
• DSCR +8.7/10.0
• Appreciation +8.6/10.0
• 1% rule +5.9/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0

Listing remarks MLS

Beautifully redone 4 bedroom cape in the Salt Springs neighborhood ready for YOU! Spacious living room with a large front window allows tons of natural light. Pass through to your kitchen with new cabinets, countertop, tile backsplash, and new flooring. Down the hall to the left is the bathroom and 2 bedrooms complete the first floor. Upstairs there's 2 more generous sized bedrooms with new vinyl windows and new carpeting. Basement has a "man cave" with tongue and groove wood walls, new recessed LED lighting, and a dry bar. On the unfinished side is laundry and storage. Whole interior freshly painted, even the garage. Large flat backyard fenced on two sides for privacy. Sealed driveway. Convenient to highways and shopping. Call now, be in your new home this summer!

Key facts

• Updated kitchen
• Large flat backyard
• 6,930 sq ft lot

Tags

• UPDATED KITCHEN
• PARTIALLY FINISHED BASEMENT
• LARGE FLAT BACKYARD

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $456 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $182k (1.5% 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: 24 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• This rent runs 32% of the median local income ($76k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $15k of equity ($1k loan paydown + $13k appreciation (7.2% 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 (7.2% appreciation + 3.0% rent growth), your $52k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 3 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 $92k; list at $185k implies a 102% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $182,225 (1.5% below list)

Questions for the listing agent

1. Built in 1952 — 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 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.09% ✓
• Cap rate: 9.25%
• Cash-on-cash: 10.56%
• DSCR: 1.47
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $193,320
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
318 Seeley Rd	0.00mi	4/1.0	1,080 (0%)	0mo	$210,000	$194	100
248 Delray Ave	0.30mi	3/1.0 (-1)	1,080 (0%)	2mo	$205,000	$190	80
221 Mountainview Ave	0.06mi	3/1.0 (-1)	1,172 (+8%)	11mo	$179,900	$153	69
245 Mountainview Ave	0.11mi	3/1.0 (-1)	1,196 (+11%)	8mo	$172,500	$144	65
218 Arch St	0.72mi	4/2.0	1,080 (0%)	8mo	$205,000	$190	55
137 Fellows Ave	0.73mi	3/1.5 (-1)	1,090 (+1%)	7mo	$175,000	$161	52
300 Bruce St	0.43mi	3/1.0 (-1)	1,137 (+5%)	19mo	$86,500	$76	50
500 Hillsdale Ave	0.62mi	3/1.0 (-1)	1,116 (+3%)	15mo	$200,000	$179	48
477 Audubon Pkwy	0.47mi	3/2.0 (-1)	1,176 (+9%)	11mo	$200,000	$170	45
116 Sunnyside Park Rd	0.74mi	3/2.0 (-1)	1,040 (-4%)	12mo	$260,000	$250	40
711 Mountainview Ave	0.66mi	3/2.0 (-1)	992 (-8%)	9mo	$199,900	$202	39
501 Hickok Ave	0.71mi	3/1.5 (-1)	1,200 (+11%)	19mo	$205,000	$171	26

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

7.21% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.6%
• Equity multiple: 2.85×
• Total profit: $95,950
• Equity at exit: $130,737

10-year hold

• IRR: 24.3%
• Equity multiple: 5.96×
• Total profit: $256,853
• Equity at exit: $250,673

Cash invested: $51,800 (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 13224

• Home prices YoY: 2.1%
• Active inventory: 24
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,014 high
• Mortgage (P&I): −$970
• Tax from tax record: −$88 /mo · $1,061/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $456

Break-even live

Break-even rent $1,438

Max offer price $185,000

Occupancy floor 72%

Sensitivity live

Price	-10% $560	-5% $508	+0% $456	+5% $403	+10% $351
Rent	-10% $297	-5% $376	+0% $456	+5% $535	+10% $615
Rate	-1.0pp $549	-0.5pp $503	base $456	+0.5pp $408	+1.0pp $359

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
118 Niven St Syracuse, NY	3.0	1.0	1150	$1,650	$1.43	22d	1	0.30mi
121 Doll Pkwy Unit A Syracuse, NY	4.0	2.0	1400	$2,800	$2.00	14d	1	0.92mi
135 Lexington Ave Unit 22 Syracuse, NY	5.0	2.0	1150	$2,500	$2.17	44d	1	0.95mi
131 Dell St Unit 133 DELL Syracuse, NY	4.0	1.0	853	$450	$0.53	44d	1	1.02mi
204 Mariposa St Unit pvt house Syracuse, NY	3.0	1.0	1128	$2,137	$1.89	14d	1	1.08mi
99 Alpine Dr Unit 107-2 Syracuse, NY	3.0	1.0	1100	$1,700	$1.55	44d	1	1.25mi
822 Westcott St Unit 1 Syracuse, NY	4.0	2.0	941	$575	$0.61	44d	1	1.29mi
1801 James St #2 Syracuse, NY	3.0	1.0	1244	$1,800	$1.45	14d	1	1.37mi
953-55 Westcott St Unit 955 Syracuse, NY	3.0	1.0	1286	$1,500	$1.17	44d	1	1.38mi
620 Euclid Ave Apt 1 Syracuse, NY	3.0	1.0	1248	$1,700	$1.36	44d	1	1.41mi

Listing history 12 events

1. 2026-05-13
   status Pending
2. 2026-04-21
   historical Active Under Contract
3. 2026-04-16
   listed $185,000 Active
4. 2020-06-25
   soldstatus $91,500 Closed Sale or Rented 785-char remark

   Show marketing remark (785 chars)

   Beautifully redone 4 bedroom cape in the Salt Springs neighborhood ready for YOU! Spacious living room with a large front window allows tons of natural light. Pass through to your kitchen with new cabinets, countertop, tile backsplash, and new flooring. Down the hall to the left is the bathroom and 2 bedrooms complete the first floor. Upstairs there's 2 more generous sized bedrooms with new vinyl windows and new carpeting. Basement has a "man cave" with tongue and groove wood walls, new recessed LED lighting, and a dry bar. On the unfinished side is laundry and storage. Whole interior freshly painted, even the garage. Large flat backyard fenced on two sides for privacy. Sealed driveway. Convenient to highways and shopping. Call now, be in your new home this summer!

5. 2020-06-17
   soldstatus $91,500
6. 2020-05-24
   status Under Contract- Do Not Show 785-char remark

   Show marketing remark (785 chars)

   Beautifully redone 4 bedroom cape in the Salt Springs neighborhood ready for YOU! Spacious living room with a large front window allows tons of natural light. Pass through to your kitchen with new cabinets, countertop, tile backsplash, and new flooring. Down the hall to the left is the bathroom and 2 bedrooms complete the first floor. Upstairs there's 2 more generous sized bedrooms with new vinyl windows and new carpeting. Basement has a "man cave" with tongue and groove wood walls, new recessed LED lighting, and a dry bar. On the unfinished side is laundry and storage. Whole interior freshly painted, even the garage. Large flat backyard fenced on two sides for privacy. Sealed driveway. Convenient to highways and shopping. Call now, be in your new home this summer!

7. 2020-05-18
   historical Continue to Show- Under Contract 785-char remark

   Show marketing remark (785 chars)

   Beautifully redone 4 bedroom cape in the Salt Springs neighborhood ready for YOU! Spacious living room with a large front window allows tons of natural light. Pass through to your kitchen with new cabinets, countertop, tile backsplash, and new flooring. Down the hall to the left is the bathroom and 2 bedrooms complete the first floor. Upstairs there's 2 more generous sized bedrooms with new vinyl windows and new carpeting. Basement has a "man cave" with tongue and groove wood walls, new recessed LED lighting, and a dry bar. On the unfinished side is laundry and storage. Whole interior freshly painted, even the garage. Large flat backyard fenced on two sides for privacy. Sealed driveway. Convenient to highways and shopping. Call now, be in your new home this summer!

8. 2020-05-12
   price $97,900 785-char remark

   Show marketing remark (785 chars)

   Beautifully redone 4 bedroom cape in the Salt Springs neighborhood ready for YOU! Spacious living room with a large front window allows tons of natural light. Pass through to your kitchen with new cabinets, countertop, tile backsplash, and new flooring. Down the hall to the left is the bathroom and 2 bedrooms complete the first floor. Upstairs there's 2 more generous sized bedrooms with new vinyl windows and new carpeting. Basement has a "man cave" with tongue and groove wood walls, new recessed LED lighting, and a dry bar. On the unfinished side is laundry and storage. Whole interior freshly painted, even the garage. Large flat backyard fenced on two sides for privacy. Sealed driveway. Convenient to highways and shopping. Call now, be in your new home this summer!

9. 2020-05-03
   listed $104,900 Active 785-char remark

   Show marketing remark (785 chars)

   Beautifully redone 4 bedroom cape in the Salt Springs neighborhood ready for YOU! Spacious living room with a large front window allows tons of natural light. Pass through to your kitchen with new cabinets, countertop, tile backsplash, and new flooring. Down the hall to the left is the bathroom and 2 bedrooms complete the first floor. Upstairs there's 2 more generous sized bedrooms with new vinyl windows and new carpeting. Basement has a "man cave" with tongue and groove wood walls, new recessed LED lighting, and a dry bar. On the unfinished side is laundry and storage. Whole interior freshly painted, even the garage. Large flat backyard fenced on two sides for privacy. Sealed driveway. Convenient to highways and shopping. Call now, be in your new home this summer!

10. 2011-12-01
    historical 253-char remark

    Show marketing remark (253 chars)

    Excellent home in the Salt Springs area. Not far from LeMoyne College. Priced well below market value. Features two bedrooms on the 1st floor and 2 bedrooms on the 2nd floor. Hardwood floors through out. Perfect property for a home owner or an investor.

11. 2011-11-23
    soldstatus $25,000 253-char remark

    Show marketing remark (253 chars)

    Excellent home in the Salt Springs area. Not far from LeMoyne College. Priced well below market value. Features two bedrooms on the 1st floor and 2 bedrooms on the 2nd floor. Hardwood floors through out. Perfect property for a home owner or an investor.

12. 2011-10-16
    listed $34,900 253-char remark

    Show marketing remark (253 chars)

    Excellent home in the Salt Springs area. Not far from LeMoyne College. Priced well below market value. Features two bedrooms on the 1st floor and 2 bedrooms on the 2nd floor. Hardwood floors through out. Perfect property for a home owner or an investor.

ⓘ 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: $1,061 · $88/mo
• Projected year-2 tax: $2,094 · $174/mo
• Expected delta: +$1,033/yr (+$86/mo · 97.4%)

ⓘ 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 ≥94°F today · 15 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: $24,172
• − Mortgage interest: −$10,363
• − Property taxes: −$1,061
• − Insurance: −$925
• − Repairs & maintenance: −$1,934
• − Management: −$1,934
• − Depreciation: −$5,382
• Taxable income: $2,574
• Est. tax owed @ 24.0%: −$618
• After-tax cash flow: $4,850/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): 8,659
• Household income: $76,500
• Rent vs Own: 34.9% rent · 65.1% own
• Severe rent burden: 423.0

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 0.67)
• Race & ethnicity: White 47% Black 32% Two or more races 10% Hispanic / Latino 8% Asian 6%
• Hispanic origin (detail): Puerto Rican 3% Cuban 1% Dominican 2%
• Common ancestry: Romanian 3% Arab 2% Subsaharan African 2%
• Foreign-born: 16% · Canada, China, Jamaica
• Languages at home: 84% English-only · Spanish 6% Arabic 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: ▲ 7.21%
• Current HPI: 350.9419
• 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

+430.1% since first listed

12 events — show timeline

• 2026-05-13 Pending — CNYIS
• 2026-04-21 Contingent — CNYIS
• 2026-04-16 Listed $185,000 CNYIS
• 2020-06-25 Sold (MLS) $91,500 CNYIS
• 2020-06-17 Sold (Public Records) $91,500 Public Records
• 2020-05-24 Pending — CNYIS
• 2020-05-18 Contingent — CNYIS
• 2020-05-12 Price Changed $97,900 CNYIS
• 2020-05-03 Listed $104,900 CNYIS
• 2011-12-01 Listing Removed — CNYIS
• 2011-11-23 Sold (MLS) $25,000 CNYIS
• 2011-10-16 Listed $34,900 CNYIS

Property tax history

-1.2%/yr

Latest (2025): $1,061 · +0.0% YoY. Source: county tax records.