229 Holland St · Syracuse, NY 13204

$135,000

4 bd · 1.0 ba · 2,082 sqft · SingleFamily public records · 7 Days on market

Built 1900 3,800 sqft lot Est $150k · 10% 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 +12.0/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.2/10.0
• 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 Home to this big beautiful victorian on Holland St! Enter the front door into the open foyer with incredibly high ceiling, closet & drawer storgae, and a gorgeous staircase with all the original ornate woodwork! The first also floor offers a half bathroom with washer/dryer hookup and 3 good sized rooms with an open feel. Walk on the plush carpet and take in all the wonderful natural light! All the windows throughout this home have been updated. This kitchen is a great size and has also been updated, all of the appliances here stay! Upstairs you will find hardwood floors in all 3 very good sized bedrooms, a surprisingly large & updated full bathroom with tub, and a 4th bedroom that could serve many functions but is currently being used as a walk-in closet. The 4th room in the back also gives you access to a 2nd set of stairs leading down to the kitchen, or you can go upstairs into the huge walk-up attic! There is so much room for activities in this home, outside too in the fully fenced yard or on the porch! Set up your showing today, you won't want to miss this one!

Key facts

• Bright open layout
• Grand foyer
• Washer dryer hookup

Tags

• GRAND FOYER
• STUNNING STAIRCASE
• ORIGINAL WOODWORK
• BRIGHT OPEN LAYOUT
• CONVENIENT HALF BATH
• WASHER DRYER HOOKUP

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $667 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Cap rate 12.2% 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: Rents rising fast (+8.2%/yr); 119 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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 $1,916/mo this rent would consume 51% 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 $14k of equity ($933 loan paydown + $14k 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 $38k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 4y 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 $90k; list at $135k implies a 50% 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 $135,000

Questions for the listing agent

1. Built in 1900 — 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: 1.42% ✓
• Cap rate: 12.22%
• Cash-on-cash: 21.18%
• DSCR: 1.94
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $149,904
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
229 Holland St	0.00mi	4/1.5	2,082 (0%)	0mo	$137,000	$66	98
806 Tallman St	0.18mi	4/1.5	1,938 (-7%)	0mo	$140,000	$72	78
207 Sabine St	0.24mi	4/2.0	2,009 (-4%)	4mo	$70,000	$35	76
109 Summit Ave	0.43mi	4/1.5	2,161 (+4%)	4mo	$240,000	$111	68
714 Tallman St	0.20mi	3/1.5 (-1)	1,938 (-7%)	15mo	$121,200	$63	59
102 Summit Ave	0.42mi	4/2.5	2,272 (+9%)	12mo	$245,000	$108	49
122 Stolp Ave	0.56mi	4/2.0	2,054 (-1%)	22mo	$185,000	$90	49
325 Midland Ave	0.36mi	4/2.0	1,856 (-11%)	17mo	$165,000	$89	47
303 Putnam St	0.50mi	4/1.0	1,852 (-11%)	20mo	$35,000	$19	42
526 Gifford St	0.38mi	3/1.5 (-1)	1,785 (-14%)	20mo	$185,000	$104	35
515 Cortland Ave	0.69mi	4/1.5	1,842 (-12%)	24mo	$85,000	$46	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 42.7%
• Equity multiple: 4.34×
• Total profit: $126,120
• Equity at exit: $121,619

10-year hold

• IRR: 38.8%
• Equity multiple: 10.60×
• Total profit: $363,029
• Equity at exit: $262,275

Cash invested: $37,800 (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 13204

• Home prices YoY: 31.6%
• Rents YoY: 8.2%
• Active inventory: 119
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,916 high
• Mortgage (P&I): −$708
• Tax from tax record: −$83 /mo · $991/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $667

Break-even live

Break-even rent $1,072

Max offer price $135,000

Occupancy floor 60%

Sensitivity live

Price	-10% $744	-5% $705	+0% $667	+5% $629	+10% $591
Rent	-10% $516	-5% $591	+0% $667	+5% $743	+10% $819
Rate	-1.0pp $735	-0.5pp $701	base $667	+0.5pp $632	+1.0pp $597

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
326 Holland St Unit 1 Syracuse, NY	3.0	1.0	2100	$1,825	$0.87	44d	1	0.15mi
318 Kellogg St Unit 1 Syracuse, NY	3.0	1.0	1523	$1,650	$1.08	44d	1	0.21mi
318 Kellogg St Unit 2 Syracuse, NY	3.0	1.0	1523	$1,675	$1.10	44d	1	0.21mi
214 Rowland St Syracuse, NY	4.0	1.0	2092	$1,800	$0.86	14d	1	0.53mi
1110 Bellevue Ave Syracuse, NY	3.0	1.0	1449	$1,500	$1.04	44d	1	0.62mi
315 Grant Ave #17 Syracuse, NY	3.0	2.0	1477	$1,275	$0.86	14d	1	0.79mi
121 Whittier Ave Syracuse, NY	4.0	1.0	1400	$600	$0.43	44d	1	0.98mi
269 W Borden Ave Syracuse, NY	4.0	1.5	1800	$650	$0.36	22d	1	1.00mi
1330 Midland Ave Syracuse, NY	4.0	1.0	1870	$2,000	$1.07	22d	1	1.03mi
447 E Washington St Syracuse, NY	3.0	1.5	2095	$2,100	$1.00	14d	1	1.18mi
349 Bryant Ave Syracuse, NY	3.0	1.5	1500	$2,300	$1.53	14d	1	1.19mi

Listing history 9 events

1. 2026-04-15
   status Pending
2. 2026-04-08
   listed $135,000 Active
3. 2026-03-15
   historical $2,000
4. 2026-03-03
   listed $2,000
5. 2022-05-22
   price $1,450
6. 2022-04-18
   soldstatus $90,000
7. 2022-04-14
   soldstatus $90,000 Closed Sale or Rented 1101-char remark

   Show marketing remark (1101 chars)

   Welcome Home to this big beautiful victorian on Holland St! Enter the front door into the open foyer with incredibly high ceiling, closet & drawer storgae, and a gorgeous staircase with all the original ornate woodwork! The first also floor offers a half bathroom with washer/dryer hookup and 3 good sized rooms with an open feel. Walk on the plush carpet and take in all the wonderful natural light! All the windows throughout this home have been updated. This kitchen is a great size and has also been updated, all of the appliances here stay! Upstairs you will find hardwood floors in all 3 very good sized bedrooms, a surprisingly large & updated full bathroom with tub, and a 4th bedroom that could serve many functions but is currently being used as a walk-in closet. The 4th room in the back also gives you access to a 2nd set of stairs leading down to the kitchen, or you can go upstairs into the huge walk-up attic! There is so much room for activities in this home, outside too in the fully fenced yard or on the porch! Set up your showing today, you won't want to miss this one!

8. 2022-02-21
   status Under Contract- Do Not Show 1101-char remark

   Show marketing remark (1101 chars)

   Welcome Home to this big beautiful victorian on Holland St! Enter the front door into the open foyer with incredibly high ceiling, closet & drawer storgae, and a gorgeous staircase with all the original ornate woodwork! The first also floor offers a half bathroom with washer/dryer hookup and 3 good sized rooms with an open feel. Walk on the plush carpet and take in all the wonderful natural light! All the windows throughout this home have been updated. This kitchen is a great size and has also been updated, all of the appliances here stay! Upstairs you will find hardwood floors in all 3 very good sized bedrooms, a surprisingly large & updated full bathroom with tub, and a 4th bedroom that could serve many functions but is currently being used as a walk-in closet. The 4th room in the back also gives you access to a 2nd set of stairs leading down to the kitchen, or you can go upstairs into the huge walk-up attic! There is so much room for activities in this home, outside too in the fully fenced yard or on the porch! Set up your showing today, you won't want to miss this one!

9. 2022-02-08
   listed $89,900 Active 1101-char remark

   Show marketing remark (1101 chars)

   Welcome Home to this big beautiful victorian on Holland St! Enter the front door into the open foyer with incredibly high ceiling, closet & drawer storgae, and a gorgeous staircase with all the original ornate woodwork! The first also floor offers a half bathroom with washer/dryer hookup and 3 good sized rooms with an open feel. Walk on the plush carpet and take in all the wonderful natural light! All the windows throughout this home have been updated. This kitchen is a great size and has also been updated, all of the appliances here stay! Upstairs you will find hardwood floors in all 3 very good sized bedrooms, a surprisingly large & updated full bathroom with tub, and a 4th bedroom that could serve many functions but is currently being used as a walk-in closet. The 4th room in the back also gives you access to a 2nd set of stairs leading down to the kitchen, or you can go upstairs into the huge walk-up attic! There is so much room for activities in this home, outside too in the fully fenced yard or on the porch! Set up your showing today, you won't want to miss this one!

ⓘ 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: $991 · $83/mo
• Projected year-2 tax: $1,636 · $136/mo
• Expected delta: +$645/yr (+$54/mo · 65.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $22,997
• − Mortgage interest: −$7,562
• − Property taxes: −$991
• − Insurance: −$675
• − Repairs & maintenance: −$1,840
• − Management: −$1,840
• − Depreciation: −$3,927
• Taxable income: $6,162
• Est. tax owed @ 24.0%: −$1,479
• After-tax cash flow: $6,527/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

+50.2% since first listed

9 events — show timeline

• 2026-04-15 Pending — CNYIS
• 2026-04-08 Listed $135,000 CNYIS
• 2026-03-15 Rental Removed $2,000 TURBOTENANT
• 2026-03-03 Listed for Rent $2,000 TURBOTENANT
• 2022-05-22 Price Changed $1,450 RENT.
• 2022-04-18 Sold (Public Records) $90,000 Public Records
• 2022-04-14 Sold (MLS) $90,000 CNYIS
• 2022-02-21 Pending — CNYIS
• 2022-02-08 Listed $89,900 CNYIS

Property tax history

+2.3%/yr

Latest (2025): $991 · +0.0% YoY. Source: county tax records.