803 Danforth St · Syracuse, NY 13208

$299,900

8 bd · 3.0 ba · 2,740 sqft · MultiFamily public records · 78 Days on market

Built 1860 3,960 sqft lot $109/sqft · 21% above area Est $249k · 21% over

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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
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.8/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Outstanding 3-unit in the heart of northside. A lot of improvements have been done with this property. Kitchens & bathrooms have been updated. Most of the floorings have been replaced with LVP, there are 3 separate meters for electricity and gas. Tenants pay their own utilities. Furnaces and hot water heaters are all in great condition. $4350/month rental incomes. Over 14% cash on cash return & solid investment opportunity. Make an offer! C of C is just issued on 3/31/2026. Ready to go.

Key facts

• 3,960 sq ft lot
• Built 1860
• Listed 78 days

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $557/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $300k).
• Recommended offer: $282k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.0% 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; lower-income renter base — watch delinquency; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• At $4,448/mo this rent would consume 119% 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 $32k of equity ($2k loan paydown + $30k 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 $84k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$52k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($282k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 14y ago; this cycle's ask has dropped $20k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $42k; list at $300k implies a 614% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1860 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $281,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1860 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.48% ✓
• Cap rate: 12.98%
• Cash-on-cash: 23.86%
• DSCR: 2.06
• GRM: 5.6

CMA / ARV

• ARV (median comp): $248,580
• List price: $299,900
• Delta: 20.65%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
110 Herbert St	0.38mi	9/3.0 (+1)	2,692 (-2%)	8mo	$275,000	$102	68
610 Bear St	0.24mi	8/2.5	2,482 (-9%)	13mo	$205,000	$83	60
507 - 509 Lemoyne Ave	0.37mi	7/2.0 (-1)	2,834 (+3%)	17mo	$134,900	$48	54
177 Kuhl Ave	0.72mi	7/2.0 (-1)	2,776 (+1%)	3mo	$205,000	$74	52
2412 Lodi St	0.38mi	8/3.0	2,331 (-15%)	13mo	$195,000	$84	47
442 S Alvord St	0.66mi	8/2.0	3,012 (+10%)	5mo	$150,000	$50	45
220 Sunset Ave	0.44mi	9/2.0 (+1)	2,464 (-10%)	14mo	$161,000	$65	42
606 Pond St	0.33mi	7/2.0 (-1)	3,063 (+12%)	18mo	$165,500	$54	41
904 Park St	0.57mi	7/2.5 (-1)	2,584 (-6%)	22mo	$195,000	$75	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: 42.2%
• Equity multiple: 4.21×
• Total profit: $269,622
• Equity at exit: $270,174

10-year hold

• IRR: 36.4%
• Equity multiple: 9.46×
• Total profit: $710,204
• Equity at exit: $582,640

Cash invested: $83,972 (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: 16.9×

Monthly cashflow live

• Estimated rent: $4,448 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$146 /mo · $1,755/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$934
• Net cashflow: $1,670

Break-even live

Break-even rent $2,334

Max offer price $299,900

Occupancy floor 57%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$4,449
Total (3 units)			$4,448

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-18
   days on market $299,900 Active 78 DOM
2. 2026-06-17
   days on market $299,900 Active 77 DOM
3. 2026-06-16
   days on market $299,900 Active 76 DOM
4. 2026-06-15
   days on market $299,900 Active 75 DOM
5. 2026-06-14
   days on market $299,900 Active 73 DOM
6. 2026-06-13
   days on market $299,900 Active 72 DOM
7. 2026-06-10
   days on market $299,900 Active 70 DOM
8. 2026-06-09
   days on market $299,900 Active 69 DOM
9. 2026-06-08
   days on market $299,900 Active 68 DOM
10. 2026-06-07
    days on market $299,900 Active 67 DOM
11. 2026-06-05
    days on market $299,900 Active 64 DOM
12. 2026-06-02
    days on market $299,900 Active 62 DOM
13. 2026-06-01
    days on market $299,900 Active 61 DOM
14. 2026-05-31
    days on market $299,900 Active 60 DOM
15. 2026-05-30
    days on market $299,900 Active 59 DOM
16. 2026-05-11
    price $299,900 503-char remark

    Show marketing remark (503 chars)

    Outstanding 3-unit in the heart of northside. A lot of improvements have been done with this property. Kitchens & bathrooms have been updated. Most of the floorings have been replaced with LVP, there are 3 separate meters for electricity and gas. Tenants pay their own utilities. Furnaces and hot water heaters are all in great condition. $4350/month rental incomes. Over 14% cash on cash return & solid investment opportunity. Make an offer! C of C is just issued on 3/31/2026. Ready to go.

17. 2026-05-04
    price $309,900 503-char remark

    Show marketing remark (503 chars)

    Outstanding 3-unit in the heart of northside. A lot of improvements have been done with this property. Kitchens & bathrooms have been updated. Most of the floorings have been replaced with LVP, there are 3 separate meters for electricity and gas. Tenants pay their own utilities. Furnaces and hot water heaters are all in great condition. $4350/month rental incomes. Over 14% cash on cash return & solid investment opportunity. Make an offer! C of C is just issued on 3/31/2026. Ready to go.

18. 2026-04-01
    listed $319,900 Active 503-char remark

    Show marketing remark (503 chars)

    Outstanding 3-unit in the heart of northside. A lot of improvements have been done with this property. Kitchens & bathrooms have been updated. Most of the floorings have been replaced with LVP, there are 3 separate meters for electricity and gas. Tenants pay their own utilities. Furnaces and hot water heaters are all in great condition. $4350/month rental incomes. Over 14% cash on cash return & solid investment opportunity. Make an offer! C of C is just issued on 3/31/2026. Ready to go.

19. 2026-02-01
    status Pending
20. 2026-01-31
    historical
21. 2026-01-02
    price $339,900
22. 2025-12-16
    price $349,900
23. 2025-11-26
    listed $369,900 Active
24. 2014-05-13
    historical
25. 2014-05-08
    soldstatus $42,000
26. 2014-01-16
    listed $50,000
27. 2012-10-01
    listed $60,000
28. 2004-10-27
    soldstatus $61,000

ⓘ 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: $1,755 · $146/mo
• Projected year-2 tax: $3,412 · $284/mo
• Expected delta: +$1,656/yr (+$138/mo · 94.4%)

ⓘ 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 · 14 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: $53,376
• − Mortgage interest: −$16,799
• − Property taxes: −$1,755
• − Insurance: −$1,500
• − Repairs & maintenance: −$4,270
• − Management: −$4,270
• − Depreciation: −$8,724
• Taxable income: $16,058
• Est. tax owed @ 24.0%: −$3,854
• After-tax cash flow: $16,186/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

+391.6% since first listed

13 events — show timeline

• 2026-05-11 Price Changed $299,900 CNYIS
• 2026-05-04 Price Changed $309,900 CNYIS
• 2026-04-01 Listed $319,900 CNYIS
• 2026-02-01 Pending — CNYIS
• 2026-01-31 Listing Removed — CNYIS
• 2026-01-02 Price Changed $339,900 CNYIS
• 2025-12-16 Price Changed $349,900 CNYIS
• 2025-11-26 Listed $369,900 CNYIS
• 2014-05-13 Listing Removed — CNYIS
• 2014-05-08 Sold (MLS) $42,000 CNYIS
• 2014-01-16 Listed $50,000 CNYIS
• 2012-10-01 Listed $60,000 CNYIS
• 2004-10-27 Sold (Public Records) $61,000 Public Records

Property tax history

-0.2%/yr

Latest (2025): $1,755 · +0.0% YoY. Source: county tax records.