211 Pharis St · Syracuse, NY 13204

$175,000

3 bd · 2.0 ba · 1,190 sqft · Townhouse public records · 19 Days on market

Built 1928 4,791 sqft lot

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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).

• Cash flow +22.3/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +5.2/10.0
• Rent growth +4.6/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0

Listing remarks MLS

Welcome to this centrally located Syracuse property, zoned multifamily but offering seamless potential as a single-family residence—no renovations required, just a simple door removal. Whether you’re looking for an owner-occupant setup, an in-law arrangement, or a solid investment property, this home delivers unmatched flexibility. As a single-family residence, the layout offers 4 bedrooms and two full bathrooms—one on each floor—with a spacious, flowing floor plan that exceeds expectations for a home of its era. The 1st floor kitchen is updated and spacious, featuring matching appliances and room for a dining nook too. This floor also offers a formal dining room, living room, and two bedrooms. Upstairs you’ll find two additional bedrooms, a full bath, and a second mini kitchen—perfect for an in-law suite or extended guest space. As a multifamily home, it’s currently set up as a 1-bed/1-bath upper unit and a 2-bed/1-bath lower unit, each with separate utilities (gas and electric) and a shared laundry area in the basement. Additional highlights include: Two separate driveways for easy, off-street parking—ideal for both tenants and homeowners, Detached 1+ car garage with overhead storage and newer roof, Private lawn space and Meticulously maintained by a contractor-owner for over 20 years. Whether you’re a homeowner looking for flexibility or an investor seeking a turnkey rental opportunity, this property is a rare find at a fantastic price point.

Key facts

• Separate utilities
• Washer and dryer
• Enclosed front porch

Tags

• SEPARATE BLACKTOPPED DRIVEWAY
• PARTIALLY FENCED BACKYARD
• ENCLOSED FRONT PORCH
• SEPARATE UTILITIES
• WASHER AND DRYER

Property features AI

Finance

• Financial info: Two-unit property with separate gas and electric meters; Reported gross income: $25,800; Operating expenses include water/sewer; Owner pays grounds care and water; rent includes gardener and water; Unit 1 actual monthly rent $800 (leased through May 27, 2027); Unit 2 actual monthly rent $1,350 (leased through Oct 31, 2026)

Exterior

• Parking: Garage (1-car); Paved parking; Two or more parking spaces
• Utilities: Public water (connected); Sewer connected; Electricity available with circuit breakers; Cable available
• Home design: Two-story building; Residential 2-unit zoning; Existing condition
• Construction: Aluminum siding; Asphalt/membrane/rubber/shingle roof; Block and stone foundation; Built (existing)
• Exterior features: Deck; Enclosed porch; Open porch; Partial fencing; Rectangular residential lot; City street frontage; Lot dimensions approximately 44 x 112

Interior

• Kitchen: Oven/range; Refrigerator; Eat-in kitchen (units); Formal dining room (Unit 2)
• Bedrooms: One bedroom in Unit 1; Two bedrooms in Unit 2
• Flooring: Hardwood; Laminate; Vinyl; Varies
• Bathrooms: Two full bathrooms (total)
• Heating & cooling: Gas forced-air heating
• Interior features: Ceiling fans; Other features/see remarks
• Laundry & utility: Washer and dryer in Unit 2; Common area laundry; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $175k.

Deal economics

• At list price, monthly cash flow is $289 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $172k (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: Rents rising fast (+8.2%/yr); 119 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• At $1,779/mo this rent would consume 47% of the median local household income ($45k/yr) (locally 2073% 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 $19k of equity ($1k loan paydown + $18k 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 + 8.0% rent growth), your $49k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $172,375 (1.5% 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 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: 1.02% ✓
• Cap rate: 8.27%
• Cash-on-cash: 7.08%
• DSCR: 1.31
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 31.4%
• Equity multiple: 3.51×
• Total profit: $123,090
• Equity at exit: $157,654

10-year hold

• IRR: 28.7%
• Equity multiple: 8.58×
• Total profit: $371,234
• Equity at exit: $339,987

Cash invested: $49,000 (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 13204

• Home prices YoY: 31.6%
• Rents YoY: 8.2%
• Active inventory: 119
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,779 high
• Mortgage (P&I): −$918
• Tax from tax record: −$126 /mo · $1,508/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $289

Break-even live

Break-even rent $1,413

Max offer price $175,000

Occupancy floor 79%

Sensitivity live

Price	-10% $388	-5% $339	+0% $289	+5% $240	+10% $190
Rent	-10% $149	-5% $219	+0% $289	+5% $359	+10% $430
Rate	-1.0pp $377	-0.5pp $334	base $289	+0.5pp $244	+1.0pp $198

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
202 Cayuga St Unit 1 Syracuse, NY	3.0	1.0	1036	$1,750	$1.69	14d	1	0.36mi
121 W End Dr Syracuse, NY	3.0	1.5	1082	$1,500	$1.39	14d	1	0.38mi
410 Chemung St Unit 1 Syracuse, NY	3.0	1.0	1100	$1,500	$1.36	14d	1	0.40mi
104 Kincaid Ave Syracuse, NY	4.0	1.0	860	$1,850	$2.15	44d	1	0.44mi
349 Bryant Ave Syracuse, NY	3.0	1.5	1500	$2,300	$1.53	14d	1	0.83mi
306 Hall Ave Unit Left Side Solvay, NY	3.0	1.5	1120	$1,750	$1.56	44d	1	0.83mi
121 Whittier Ave Syracuse, NY	4.0	1.0	1400	$600	$0.43	44d	1	0.92mi
373 Spencer St Unit 303 Syracuse, NY	2.0	1.5	1085	$1,850	$1.71	44d	1	1.46mi

Listing history 22 events

1. 2026-06-17
   status $175,000 Pending 19 DOM
2. 2026-06-16
   days on market $175,000 Active 19 DOM
3. 2026-06-15
   days on market $175,000 Active 18 DOM
4. 2026-06-14
   days on market $175,000 Active 16 DOM
5. 2026-06-13
   days on market $175,000 Active 15 DOM
6. 2026-06-10
   days on market $175,000 Active 13 DOM
7. 2026-06-09
   days on market $175,000 Active 12 DOM
8. 2026-06-09
   price $175,000 Active 11 DOM
9. 2026-06-08
   days on market $177,000 Active 11 DOM
10. 2026-06-07
    days on market $177,000 Active 10 DOM
11. 2026-06-05
    days on market $177,000 Active 7 DOM
12. 2026-06-02
    days on market $177,000 Active 5 DOM
13. 2026-06-01
    pricedays on market $177,000 Active 4 DOM
14. 2026-05-31
    days on market $185,000 Active 3 DOM
15. 2026-05-30
    days on market $185,000 Active 2 DOM
16. 2026-05-28
    listed $185,000 Active
17. 2025-09-19
    soldstatus $170,000
18. 2025-09-16
    soldstatus $170,000 Closed 1524-char remark

    Show marketing remark (1524 chars)

    Welcome to this centrally located Syracuse property, zoned multifamily but offering seamless potential as a single-family residence—no renovations required, just a simple door removal. Whether you’re looking for an owner-occupant setup, an in-law arrangement, or a solid investment property, this home delivers unmatched flexibility. As a single-family residence, the layout offers 4 bedrooms and two full bathrooms—one on each floor—with a spacious, flowing floor plan that exceeds expectations for a home of its era. The 1st floor kitchen is updated and spacious, featuring matching appliances and room for a dining nook too. This floor also offers a formal dining room, living room, and two bedrooms. Upstairs you’ll find two additional bedrooms, a full bath, and a second mini kitchen—perfect for an in-law suite or extended guest space. As a multifamily home, it’s currently set up as a 1-bed/1-bath upper unit and a 2-bed/1-bath lower unit, each with separate utilities (gas and electric) and a shared laundry area in the basement. Additional highlights include: Two separate driveways for easy, off-street parking—ideal for both tenants and homeowners, Detached 1+ car garage with overhead storage and newer roof, Private lawn space and Meticulously maintained by a contractor-owner for over 20 years. Whether you’re a homeowner looking for flexibility or an investor seeking a turnkey rental opportunity, this property is a rare find at a fantastic price point.

19. 2025-08-04
    status Pending 1524-char remark

    Show marketing remark (1524 chars)

    Welcome to this centrally located Syracuse property, zoned multifamily but offering seamless potential as a single-family residence—no renovations required, just a simple door removal. Whether you’re looking for an owner-occupant setup, an in-law arrangement, or a solid investment property, this home delivers unmatched flexibility. As a single-family residence, the layout offers 4 bedrooms and two full bathrooms—one on each floor—with a spacious, flowing floor plan that exceeds expectations for a home of its era. The 1st floor kitchen is updated and spacious, featuring matching appliances and room for a dining nook too. This floor also offers a formal dining room, living room, and two bedrooms. Upstairs you’ll find two additional bedrooms, a full bath, and a second mini kitchen—perfect for an in-law suite or extended guest space. As a multifamily home, it’s currently set up as a 1-bed/1-bath upper unit and a 2-bed/1-bath lower unit, each with separate utilities (gas and electric) and a shared laundry area in the basement. Additional highlights include: Two separate driveways for easy, off-street parking—ideal for both tenants and homeowners, Detached 1+ car garage with overhead storage and newer roof, Private lawn space and Meticulously maintained by a contractor-owner for over 20 years. Whether you’re a homeowner looking for flexibility or an investor seeking a turnkey rental opportunity, this property is a rare find at a fantastic price point.

20. 2025-07-12
    historical Active Under Contract 1524-char remark

    Show marketing remark (1524 chars)

    Welcome to this centrally located Syracuse property, zoned multifamily but offering seamless potential as a single-family residence—no renovations required, just a simple door removal. Whether you’re looking for an owner-occupant setup, an in-law arrangement, or a solid investment property, this home delivers unmatched flexibility. As a single-family residence, the layout offers 4 bedrooms and two full bathrooms—one on each floor—with a spacious, flowing floor plan that exceeds expectations for a home of its era. The 1st floor kitchen is updated and spacious, featuring matching appliances and room for a dining nook too. This floor also offers a formal dining room, living room, and two bedrooms. Upstairs you’ll find two additional bedrooms, a full bath, and a second mini kitchen—perfect for an in-law suite or extended guest space. As a multifamily home, it’s currently set up as a 1-bed/1-bath upper unit and a 2-bed/1-bath lower unit, each with separate utilities (gas and electric) and a shared laundry area in the basement. Additional highlights include: Two separate driveways for easy, off-street parking—ideal for both tenants and homeowners, Detached 1+ car garage with overhead storage and newer roof, Private lawn space and Meticulously maintained by a contractor-owner for over 20 years. Whether you’re a homeowner looking for flexibility or an investor seeking a turnkey rental opportunity, this property is a rare find at a fantastic price point.

21. 2025-07-08
    listed $160,000 Active 1524-char remark

    Show marketing remark (1524 chars)

    Welcome to this centrally located Syracuse property, zoned multifamily but offering seamless potential as a single-family residence—no renovations required, just a simple door removal. Whether you’re looking for an owner-occupant setup, an in-law arrangement, or a solid investment property, this home delivers unmatched flexibility. As a single-family residence, the layout offers 4 bedrooms and two full bathrooms—one on each floor—with a spacious, flowing floor plan that exceeds expectations for a home of its era. The 1st floor kitchen is updated and spacious, featuring matching appliances and room for a dining nook too. This floor also offers a formal dining room, living room, and two bedrooms. Upstairs you’ll find two additional bedrooms, a full bath, and a second mini kitchen—perfect for an in-law suite or extended guest space. As a multifamily home, it’s currently set up as a 1-bed/1-bath upper unit and a 2-bed/1-bath lower unit, each with separate utilities (gas and electric) and a shared laundry area in the basement. Additional highlights include: Two separate driveways for easy, off-street parking—ideal for both tenants and homeowners, Detached 1+ car garage with overhead storage and newer roof, Private lawn space and Meticulously maintained by a contractor-owner for over 20 years. Whether you’re a homeowner looking for flexibility or an investor seeking a turnkey rental opportunity, this property is a rare find at a fantastic price point.

22. 2004-04-22
    soldstatus $44,900

ⓘ 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: $1,508 · $126/mo
• Projected year-2 tax: $2,233 · $186/mo
• Expected delta: +$725/yr (+$60/mo · 48.0%)

ⓘ 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 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: $21,348
• − Mortgage interest: −$9,803
• − Property taxes: −$1,508
• − Insurance: −$875
• − Repairs & maintenance: −$1,708
• − Management: −$1,708
• − Depreciation: −$5,091
• Taxable income: $655
• Est. tax owed @ 24.0%: −$157
• After-tax cash flow: $3,311/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): 19,440
• Household income: $45,351
• Rent vs Own: 70.8% rent · 29.2% own
• Severe rent burden: 2073.0

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 0.68)
• Race & ethnicity: White 47% Black 26% Hispanic / Latino 17% Two or more races 13% Native American 1%
• Hispanic origin (detail): Puerto Rican 12% Cuban 2% Dominican 1%
• Common ancestry: Romanian 5% Lithuanian 2% Subsaharan African 2%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 83% English-only · Spanish 11% Russian/Polish/Slavic 3% 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: ▲ 100.14%
• Current HPI: 416.7272
• Rent YoY: ▲ 8.24%
• 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

+312.0% since first listed

7 events — show timeline

• 2026-05-28 Listed $185,000 CNYIS
• 2025-09-19 Sold (Public Records) $170,000 Public Records
• 2025-09-16 Sold (MLS) $170,000 CNYIS
• 2025-08-04 Pending — CNYIS
• 2025-07-12 Contingent — CNYIS
• 2025-07-08 Listed $160,000 CNYIS
• 2004-04-22 Sold (Public Records) $44,900 Public Records

Property tax history

+1.1%/yr

Latest (2025): $1,508 · +0.0% YoY. Source: county tax records.