1516 Valley Dr · Syracuse, NY 13207

$179,900

3 bd · 2.5 ba · 2,619 sqft · MultiFamily · 91 Days on market

Built 1960 Fair condition 4,250 sqft lot $69/sqft · 27% below area Est $246k · 27% under ↓ 18% since listing

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Welcome to 1516 Valley Dr, a fantastic mixed-use building situated in Syracuse, NY. The street front boasts a successful store and print shop while the back is a residential 3 bedroom, 1.5 bathroom apartment! Both units are currently rented out for a total gross monthly income of $2,300. This property presents terrific potential cashflow for an investor! Convenience is key, and this property delivers; nestled close to a wide variety of stores, restaurants, and shops, it also offers easy access to downtown Syracuse's vibrant amenities. Not to mention there is also off-street parking, a rare find in this bustling area! This property has the ability to be sold as a package with the one right next door, 1522 Valley Dr Syracuse, NY. MLS Number: S1666457. It does NOT need to be sold as a package.

Key facts

• Mixed-use building
• Off-street parking
• 4,250 sq ft lot

Tags

• MIXED-USE BUILDING
• RESIDENTIAL APARTMENT
• OFF-STREET PARKING

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath multifamily listed at $180k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• Recommended offer: $164k (9.0% below list) — sets the bar for market timing.
• Cap rate 15.2% 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; 1 comparable units currently listed for rent nearby; 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 $1k of loan paydown is wiped out by about $5k 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 $50k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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.

Recommended offer $163,709 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.82% ✓
• Cap rate: 15.23%
• Cash-on-cash: 31.90%
• DSCR: 2.42
• GRM: 4.6

CMA / ARV

• ARV (median comp): $245,716
• List price: $179,900
• Delta: -26.79%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 26.9%
• Equity multiple: 2.12×
• Total profit: $56,196
• Equity at exit: $26,824

10-year hold

• IRR: 34.5%
• Equity multiple: 4.16×
• Total profit: $158,970
• Equity at exit: $15,554

Cash invested: $50,372 (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 13207

• Home prices YoY: -23.0%
• Active inventory: 63
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $3,269 high
• Mortgage (P&I): −$943
• Tax est. 1.5%: −$225 /mo · $2,698/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$686
• Net cashflow: $1,339

Break-even live

Break-even rent $1,574

Max offer price $179,900

Occupancy floor 54%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$3,268
Total (2 units)			$3,269

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
102 Newbury Hollow Ln Syracuse, NY	3.0	2.0	2000	$2,300	$1.15	43d	1	1.17mi

Listing history 26 events

1. 2026-06-18
   days on market $179,900 Active 91 DOM
2. 2026-06-17
   days on market $179,900 Active 90 DOM
3. 2026-06-16
   days on market $179,900 Active 89 DOM
4. 2026-06-15
   days on market $179,900 Active 88 DOM
5. 2026-06-14
   days on market $179,900 Active 86 DOM
6. 2026-06-13
   days on market $179,900 Active 85 DOM
7. 2026-06-10
   days on market $179,900 Active 83 DOM
8. 2026-06-09
   days on market $179,900 Active 82 DOM
9. 2026-06-08
   days on market $179,900 Active 81 DOM
10. 2026-06-07
    days on market $179,900 Active 80 DOM
11. 2026-06-05
    days on market $179,900 Active 77 DOM
12. 2026-06-02
    days on market $179,900 Active 75 DOM
13. 2026-06-01
    days on market $179,900 Active 74 DOM
14. 2026-05-31
    days on market $179,900 Active 73 DOM
15. 2026-05-30
    days on market $179,900 Active 72 DOM
16. 2026-03-19
    listed $179,900 Active 801-char remark

    Show marketing remark (801 chars)

    Welcome to 1516 Valley Dr, a fantastic mixed-use building situated in Syracuse, NY. The street front boasts a successful store and print shop while the back is a residential 3 bedroom, 1.5 bathroom apartment! Both units are currently rented out for a total gross monthly income of $2,300. This property presents terrific potential cashflow for an investor! Convenience is key, and this property delivers; nestled close to a wide variety of stores, restaurants, and shops, it also offers easy access to downtown Syracuse's vibrant amenities. Not to mention there is also off-street parking, a rare find in this bustling area! This property has the ability to be sold as a package with the one right next door, 1522 Valley Dr Syracuse, NY. MLS Number: S1666457. It does NOT need to be sold as a package.

17. 2025-12-30
    historical
18. 2025-11-17
    status Active
19. 2025-10-07
    historical Active Under Contract
20. 2025-07-07
    status Active
21. 2025-04-30
    historical Active Under Contract
22. 2025-01-14
    price $184,900
23. 2024-12-05
    listed $187,500 Active
24. 2024-11-09
    historical
25. 2024-09-16
    price $197,900
26. 2024-06-26
    listed $219,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $39,228
• − Mortgage interest: −$10,077
• − Property taxes: −$2,698
• − Insurance: −$900
• − Repairs & maintenance: −$3,138
• − Management: −$3,138
• − Depreciation: −$5,233
• Taxable income: $14,043
• Est. tax owed @ 24.0%: −$3,370
• After-tax cash flow: $12,701/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.

Condition & rehab AI · 2 photos

Fair 45/100 Moderate rehab

This multi-family property requires moderate repairs and maintenance, particularly to the exterior and roof. Painting and roof repair would significantly enhance its curb appeal and value.

Repairs flagged

• Major roof — Paint appears faded and there is visible wear
• Major exterior siding — Siding appears weathered and paint is faded
• Major exterior paint — Paint appears faded and there is visible wear

Value-add opportunities

• Both paint exterior — Fresh paint would improve curb appeal and increase both resale and rental value
• Both repair roof — A new roof would significantly increase the property's value and reduce ongoing maintenance costs

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Paint appears faded and there is visible wear	Major	$15,000–50,000
exterior siding · Siding appears weathered and paint is faded	Major	$15,000–50,000
exterior paint · Paint appears faded and there is visible wear	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both paint exterior — Fresh paint would improve curb appeal and increase both resale and rental value ↑
• Both repair roof — A new roof would significantly increase the property's value and reduce ongoing maintenance costs ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-17.9% since first listed

11 events — show timeline

• 2026-03-19 Listed $179,900 CNYIS
• 2025-12-30 Listing Removed — CNYIS
• 2025-11-17 Relisted — CNYIS
• 2025-10-07 Contingent — CNYIS
• 2025-07-07 Relisted — CNYIS
• 2025-04-30 Contingent — CNYIS
• 2025-01-14 Price Changed $184,900 CNYIS
• 2024-12-05 Listed $187,500 CNYIS
• 2024-11-09 Listing Removed — CNYIS
• 2024-09-16 Price Changed $197,900 CNYIS
• 2024-06-26 Listed $219,000 CNYIS