256 Wendell Ave · Nedrow, NY 13120

$75,000

3 bd · 2.0 ba · 1,237 sqft · SingleFamily public records · 16 Days on market

Built 1940 10,500 sqft lot $61/sqft · 59% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +9.1/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Great potential and an opportunity to build sweat equity right in Nedrow NY! This charming bungalow with 4 bedrooms and 2 full baths sits on a large lot, which is great for expanding or creating your dream outdoor space! With your vision and some TLC, this property could truly shine! This property is perfect for homeowners or investors ready to make it their own. * 5/08 UPDATE: Offers kindly requested to be submitted by 12PM SAT 5/09. Thank you for your interest! *

Key facts

• 0.24 acre lot
• Garage
• Built 1940

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Sewer connected
• Home design: Single-story home; Existing construction
• Construction: Metal roof; Aluminum siding; Vinyl siding; Block foundation; Resale condition
• Exterior features: Blacktop driveway; Partial fencing; Yard fence; Shed(s)/storage structure

Interior

• Kitchen: Gas water heater; See remarks (additional appliance details)
• Bedrooms: 2 main-level bedrooms
• Flooring: Carpet; Hardwood; Resilient flooring; Vinyl; Varies by room
• Bathrooms: 2 full bathrooms; 1 main-level bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Accessible approach with ramp; Separate/formal dining room; Separate/formal living room; Combined living/dining room; Has a crawl/partial basement
• Laundry & utility: Utilities and appliances noted in remarks

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $405 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $74k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#415 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment C-, schools D, amenities F.
• Onondaga Central School District (rural): math 54% / reading 61% proficiency, ranked #261 of 590 in NY (top 44%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 9 active listings in the ZIP; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($519 loan paydown + $6k appreciation (8.1% 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 (8.1% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 4.0% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $73,875 (1.5% below list)

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.82% ✓
• Cap rate: 12.78%
• Cash-on-cash: 23.17%
• DSCR: 2.03
• GRM: 4.6

CMA / ARV

• ARV (median comp): $182,661
• List price: $75,000
• Delta: -58.94%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
132 Wendell Ave	0.08mi	4/2.0 (+1)	1,300 (+5%)	9mo	$167,500	$129	75
217 Hoover Dr	0.31mi	3/2.0	1,302 (+5%)	4mo	$166,400	$128	73
120 Hoover Dr	0.36mi	2/1.0 (-1)	1,237 (0%)	2mo	$134,250	$109	73
114 Pembrook Dr	0.45mi	3/2.0	1,236 (-0%)	11mo	$195,000	$158	70
220 Hoover Dr	0.34mi	4/1.5 (+1)	1,308 (+6%)	5mo	$179,900	$138	63
302 Everingham Rd	0.40mi	3/1.5	1,134 (-8%)	7mo	$225,000	$198	60
153 Everingham Rd	0.37mi	3/2.0	1,125 (-9%)	10mo	$189,900	$169	59
108 Hoover Dr	0.39mi	3/2.0	1,379 (+12%)	8mo	$190,000	$138	56
108 Meredith Ave	0.23mi	2/1.0 (-1)	1,080 (-13%)	5mo	$157,000	$145	55
225 Ruhamah Ave	0.41mi	3/1.0	1,056 (-15%)	1mo	$152,000	$144	52
115 Pembrook Dr	0.47mi	3/1.5	1,344 (+9%)	12mo	$265,000	$197	52
150 Everingham Rd	0.41mi	2/1.5 (-1)	1,080 (-13%)	5mo	$167,000	$155	48

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

Projected returns pro-forma

8.13% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 38.6%
• Equity multiple: 3.74×
• Total profit: $57,456
• Equity at exit: $57,639

10-year hold

• IRR: 34.4%
• Equity multiple: 8.04×
• Total profit: $147,783
• Equity at exit: $115,048

Cash invested: $21,000 (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 13120

• Home prices YoY: 2.9%
• Active inventory: 9
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,368 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$251 /mo · $3,013/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $405

Break-even live

Break-even rent $855

Max offer price $75,000

Occupancy floor 65%

Sensitivity live

Price	-10% $448	-5% $427	+0% $405	+5% $384	+10% $363
Rent	-10% $297	-5% $351	+0% $405	+5% $459	+10% $514
Rate	-1.0pp $443	-0.5pp $425	base $405	+0.5pp $386	+1.0pp $366

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-16
   status Pending 470-char remark
2. 2026-05-11
   historical Active Under Contract 470-char remark
3. 2026-04-30
   listed $75,000 Active 470-char remark

ⓘ 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: $3,013 · $251/mo
• Projected year-2 tax: $3,013 · $251/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°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: $16,421
• − Mortgage interest: −$4,201
• − Property taxes: −$3,013
• − Insurance: −$375
• − Repairs & maintenance: −$1,314
• − Management: −$1,314
• − Depreciation: −$2,182
• Taxable income: $4,023
• Est. tax owed @ 24.0%: −$966
• After-tax cash flow: $3,900/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: Onondaga Central School District
• NCES district ID: 3621810
• Math proficiency: 54% ▼ -5.00%
• Reading proficiency: 61% ▲ 16.00%
• Median HH income: $60,148
• Composite: 49.95/100
• National rank: #1929
• State rank: #261 of 590 in NY

Livability — Nedrow

• Score: 71/100
• State rank: #415
• US rank: #7218

Category grades

Amenities F Commute F Cost of living A+ Crime A- Employment C- Housing A+ Health & safety A User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Nedrow, NY
• Population (ZIP): 1,881

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: Predominantly White (69%)
• Race & ethnicity: White 69% Native American 21% Black 4% Two or more races 3% Asian 3% Hispanic / Latino 1%
• Common ancestry: Slovak 5% Romanian 5% Iranian 4%
• Foreign-born: 5% · China, Canada
• Languages at home: 94% English-only · Chinese 3% Spanish 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: ▲ 8.13%
• Current HPI: 285.9921
• 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

3 events — show timeline

• 2026-05-16 Pending — CNYIS
• 2026-05-11 Contingent — CNYIS
• 2026-04-30 Listed $75,000 CNYIS

Property tax history

+11.5%/yr

Latest (2025): $3,013 · +2.7% YoY. Source: county tax records.