416 Bear St · Syracuse, NY 13208

$164,900

4 bd · 2.0 ba · 1,824 sqft · MultiFamily public records · 68 Days on market

Built 1880 2,450 sqft lot $90/sqft · 27% below area Est $226k · 27% under

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Why this score? — see what drove the A 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
• Appreciation +10.0/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Money maker located close to downtown, shopping, all services, schools. Tenants are month to month. Owner has done many renovations. New roof. Upper Flat is completely renovated, new appliances, Paint, Bath - new toilet, shower, flooring and more. First floor flat has some upgrades, a fixture, exhaust fan, kitchen faucet. Utilities are separate. Everything is in good working order. Rental Registry for the City of Syracuse is required. $150 application with the Division of Code Enforcement and the property must pass inspection every three years. Cash on Cash return - 13%plus. Cash offers preferred.

Key facts

• New shower
• New appliances
• Completely renovated

Tags

• CLOSE TO DOWNTOWN
• NEW ROOF
• COMPLETELY RENOVATED
• NEW APPLIANCES
• NEW TOILET
• NEW SHOWER

🏷️ Possibly a rental listed for sale. The $164,900 price doesn't fit this home's estimated sale value (~$226,004) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $165k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $165k).
• Recommended offer: $155k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.2% 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: 99 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• At $2,689/mo this rent would consume 72% 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 $18k of equity ($1k loan paydown + $16k 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 $46k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $125k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $155,006 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.63% ✓
• Cap rate: 14.19%
• Cash-on-cash: 28.19%
• DSCR: 2.25
• GRM: 5.1

CMA / ARV

• ARV (median comp): $226,004
• List price: $164,900
• Delta: -27.04%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
722-724 Lemoyne Ave	0.27mi	4/2.0	1,747 (-4%)	11mo	$155,500	$89	72
218-20 Turtle St	0.21mi	5/2.0 (+1)	1,698 (-7%)	8mo	$106,500	$63	66
1210 Carbon St	0.16mi	4/2.0	1,594 (-13%)	10mo	$42,500	$27	63
608 Court St	0.23mi	4/2.0	2,016 (+10%)	18mo	$149,000	$74	57
517 Carbon St	0.64mi	4/2.0	1,728 (-5%)	6mo	$90,000	$52	56
2414 Lodi St	0.27mi	5/2.0 (+1)	2,095 (+15%)	14mo	$115,000	$55	46
2028 Lodi St	0.53mi	5/2.0 (+1)	2,004 (+10%)	18mo	$74,000	$37	38
1234 Court St #36	0.70mi	4/2.0	2,048 (+12%)	10mo	$200,000	$98	38
1021 N Townsend St	0.72mi	3/2.0 (-1)	2,030 (+11%)	6mo	$69,900	$34	38

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: 45.6%
• Equity multiple: 4.44×
• Total profit: $158,875
• Equity at exit: $148,555

10-year hold

• IRR: 39.6%
• Equity multiple: 9.96×
• Total profit: $413,489
• Equity at exit: $320,364

Cash invested: $46,172 (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: 10.2×

Monthly cashflow live

• Estimated rent: $2,689 high
• Mortgage (P&I): −$865
• Tax from tax record: −$106 /mo · $1,273/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$565
• Net cashflow: $1,085

Break-even live

Break-even rent $1,316

Max offer price $164,900

Occupancy floor 55%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,690
Total (2 units)			$2,689

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
746 E Laurel St Unit 1 Syracuse, NY	4.0	2.0	1400	$1,500	$1.07	43d	1	1.08mi
712 Oak St Syracuse, NY	3.0	1.0	2461	$1,700	$0.69	20d	1	1.34mi
205A Hawley Ave Unit 211C Syracuse, NY	3.0	2.5	1350	$1,675	$1.24	43d	1	1.48mi
205A Hawley Ave Unit 213C Syracuse, NY	3.0	2.5	1350	$1,650	$1.22	43d	1	1.48mi

Listing history 28 events

1. 2026-06-18
   days on market $164,900 Active 68 DOM
2. 2026-06-17
   days on market $164,900 Active 67 DOM
3. 2026-06-16
   days on market $164,900 Active 66 DOM
4. 2026-06-15
   days on market $164,900 Active 65 DOM
5. 2026-06-14
   days on market $164,900 Active 63 DOM
6. 2026-06-13
   days on market $164,900 Active 62 DOM
7. 2026-06-10
   days on market $164,900 Active 60 DOM
8. 2026-06-09
   days on market $164,900 Active 59 DOM
9. 2026-06-08
   days on market $164,900 Active 58 DOM
10. 2026-06-07
    days on market $164,900 Active 57 DOM
11. 2026-06-05
    days on market $164,900 Active 54 DOM
12. 2026-06-02
    days on market $164,900 Active 52 DOM
13. 2026-06-01
    days on market $164,900 Active 51 DOM
14. 2026-05-31
    days on market $164,900 Active 50 DOM
15. 2026-05-30
    days on market $164,900 Active 49 DOM
16. 2026-05-14
    price $164,900 604-char remark

    Show marketing remark (604 chars)

    Money maker located close to downtown, shopping, all services, schools. Tenants are month to month. Owner has done many renovations. New roof. Upper Flat is completely renovated, new appliances, Paint, Bath - new toilet, shower, flooring and more. First floor flat has some upgrades, a fixture, exhaust fan, kitchen faucet. Utilities are separate. Everything is in good working order. Rental Registry for the City of Syracuse is required. $150 application with the Division of Code Enforcement and the property must pass inspection every three years. Cash on Cash return - 13%plus. Cash offers preferred.

17. 2026-04-10
    listed $174,900 Active 604-char remark

    Show marketing remark (604 chars)

    Money maker located close to downtown, shopping, all services, schools. Tenants are month to month. Owner has done many renovations. New roof. Upper Flat is completely renovated, new appliances, Paint, Bath - new toilet, shower, flooring and more. First floor flat has some upgrades, a fixture, exhaust fan, kitchen faucet. Utilities are separate. Everything is in good working order. Rental Registry for the City of Syracuse is required. $150 application with the Division of Code Enforcement and the property must pass inspection every three years. Cash on Cash return - 13%plus. Cash offers preferred.

18. 2024-11-01
    soldstatus $125,000 Closed 483-char remark

    Show marketing remark (483 chars)

    This is part of 8-unit package consisting of four 2-family homes. They are located in the northside and Hawley Green area. Within proximity to downtown, highway, stores & school. This 2-family residence has two long term tenants. Separate utilities, furnaces & hot water heaters are all fairly new and in good working condition. Downstair has updated kitchen & bathroom. All together there are over 13% cash on cash return. Asking price for the package is $555,000.

19. 2024-11-01
    soldstatus $500,000

    Show marketing remark (483 chars)

    This is part of 8-unit package consisting of four 2-family homes. They are located in the northside and Hawley Green area. Within proximity to downtown, highway, stores & school. This 2-family residence has two long term tenants. Separate utilities, furnaces & hot water heaters are all fairly new and in good working condition. Downstair has updated kitchen & bathroom. All together there are over 13% cash on cash return. Asking price for the package is $555,000.

20. 2024-08-15
    status Pending 483-char remark

    Show marketing remark (483 chars)

    This is part of 8-unit package consisting of four 2-family homes. They are located in the northside and Hawley Green area. Within proximity to downtown, highway, stores & school. This 2-family residence has two long term tenants. Separate utilities, furnaces & hot water heaters are all fairly new and in good working condition. Downstair has updated kitchen & bathroom. All together there are over 13% cash on cash return. Asking price for the package is $555,000.

21. 2024-07-02
    historical Active Under Contract 483-char remark

    Show marketing remark (483 chars)

    This is part of 8-unit package consisting of four 2-family homes. They are located in the northside and Hawley Green area. Within proximity to downtown, highway, stores & school. This 2-family residence has two long term tenants. Separate utilities, furnaces & hot water heaters are all fairly new and in good working condition. Downstair has updated kitchen & bathroom. All together there are over 13% cash on cash return. Asking price for the package is $555,000.

22. 2024-07-02
    status Active 483-char remark

    Show marketing remark (483 chars)

    This is part of 8-unit package consisting of four 2-family homes. They are located in the northside and Hawley Green area. Within proximity to downtown, highway, stores & school. This 2-family residence has two long term tenants. Separate utilities, furnaces & hot water heaters are all fairly new and in good working condition. Downstair has updated kitchen & bathroom. All together there are over 13% cash on cash return. Asking price for the package is $555,000.

23. 2024-06-30
    historical 483-char remark

    Show marketing remark (483 chars)

    This is part of 8-unit package consisting of four 2-family homes. They are located in the northside and Hawley Green area. Within proximity to downtown, highway, stores & school. This 2-family residence has two long term tenants. Separate utilities, furnaces & hot water heaters are all fairly new and in good working condition. Downstair has updated kitchen & bathroom. All together there are over 13% cash on cash return. Asking price for the package is $555,000.

24. 2024-05-02
    historical Active Under Contract 483-char remark

    Show marketing remark (483 chars)

    This is part of 8-unit package consisting of four 2-family homes. They are located in the northside and Hawley Green area. Within proximity to downtown, highway, stores & school. This 2-family residence has two long term tenants. Separate utilities, furnaces & hot water heaters are all fairly new and in good working condition. Downstair has updated kitchen & bathroom. All together there are over 13% cash on cash return. Asking price for the package is $555,000.

25. 2024-04-11
    price $138,000 483-char remark

    Show marketing remark (483 chars)

    This is part of 8-unit package consisting of four 2-family homes. They are located in the northside and Hawley Green area. Within proximity to downtown, highway, stores & school. This 2-family residence has two long term tenants. Separate utilities, furnaces & hot water heaters are all fairly new and in good working condition. Downstair has updated kitchen & bathroom. All together there are over 13% cash on cash return. Asking price for the package is $555,000.

26. 2024-03-07
    listed $168,000 Active 483-char remark

    Show marketing remark (483 chars)

    This is part of 8-unit package consisting of four 2-family homes. They are located in the northside and Hawley Green area. Within proximity to downtown, highway, stores & school. This 2-family residence has two long term tenants. Separate utilities, furnaces & hot water heaters are all fairly new and in good working condition. Downstair has updated kitchen & bathroom. All together there are over 13% cash on cash return. Asking price for the package is $555,000.

27. 2021-12-27
    soldstatus $87,000
28. 1996-05-31
    soldstatus $46,000

ⓘ 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: $1,273 · $106/mo
• Projected year-2 tax: $2,030 · $169/mo
• Expected delta: +$757/yr (+$63/mo · 59.4%)

ⓘ 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: $32,268
• − Mortgage interest: −$9,237
• − Property taxes: −$1,273
• − Insurance: −$824
• − Repairs & maintenance: −$2,581
• − Management: −$2,581
• − Depreciation: −$4,797
• Taxable income: $10,973
• Est. tax owed @ 24.0%: −$2,634
• After-tax cash flow: $10,383/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

+258.5% since first listed

13 events — show timeline

• 2026-05-14 Price Changed $164,900 CNYIS
• 2026-04-10 Listed $174,900 CNYIS
• 2024-11-01 Sold (Public Records) $500,000 Public Records
• 2024-11-01 Sold (MLS) $125,000 CNYIS
• 2024-08-15 Pending — CNYIS
• 2024-07-02 Contingent — CNYIS
• 2024-07-02 Relisted — CNYIS
• 2024-06-30 Listing Removed — CNYIS
• 2024-05-02 Contingent — CNYIS
• 2024-04-11 Price Changed $138,000 CNYIS
• 2024-03-07 Listed $168,000 CNYIS
• 2021-12-27 Sold (Public Records) $87,000 Public Records
• 1996-05-31 Sold (Public Records) $46,000 Public Records

Property tax history

-0.2%/yr

Latest (2025): $1,273 · +0.0% YoY. Source: county tax records.