278 Coleridge Ave · Syracuse, NY 13204

$229,900

3 bd · 1.0 ba · 1,608 sqft · SingleFamily public records · 26 Days on market

Built 1950 7,250 sqft lot Est $203k · 13% over

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Why this score? — see what drove the D+ 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 +16.6/30.0
• Appreciation +10.0/10.0
• DSCR +5.2/10.0
• Rent growth +4.6/5.0
• Livability +3.9/5.0
• 1% rule +3.6/10.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• ARV discount +1.4/15.0

Listing remarks

A RARE OPPORTUNITY TO PURCHASE A HOME ON COLERIDGE AVE, DIRECTLY ACROSS FROM BURNET PARK. FEATURES 4 BEDROOMS, 2 FULL BATHS, LARGE LIVING ROOM, FULL DRYLOCKED BASEMENT, CONCRETE DRIVEWAY. OVERSIZED GARAGE, PATIO, 3-SEASON ROOM AND SO MUCH MORE. THIS HOME NEEDS TLC, BUT INCREDIBLE LOCATION.

Key facts

• Oversized garage
• 3-season room
• Concrete driveway

Tags

• FULL DRYLOCKED BASEMENT
• CONCRETE DRIVEWAY
• OVERSIZED GARAGE
• 3-SEASON ROOM
• INCREDIBLE LOCATION

Property features AI

Exterior

• Parking: Detached garage; Approximately 1.5 garage spaces
• Utilities: Public water connected; Sewer connected; Cable available; Circuit breaker electrical
• Home design: Two-story home; Existing (pre-owned) property
• Construction: Aluminum siding; Copper plumbing; Block foundation
• Exterior features: Concrete driveway; Patio; Greenhouse; Shed(s) and additional storage

Interior

• Kitchen: Double oven; Gas cooktop; Dishwasher; Refrigerator; Eat-in kitchen / country kitchen
• Bedrooms: Two main-level bedrooms
• Flooring: Carpet; Hardwood; Laminate; Varied flooring
• Bathrooms: Two full bathrooms; One main-level bathroom
• Heating & cooling: Gas forced-air heating; Central air conditioning
• Interior features: Separate/formal dining room; Eat-in kitchen; Separate/formal living room; Country kitchen; Bedroom on main level; Full basement
• Laundry & utility: Washer; Laundry area in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $139 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $197k (14.2% below list).
• Recommended offer: $197k (14.2% below list) — sets the bar for 1% rule.

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; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• At $1,973/mo this rent would consume 52% 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 $25k of equity ($2k loan paydown + $23k 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 $64k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $92k; list at $230k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $197,256 (14.2% below list)

Questions for the listing agent

1. Built in 1950 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.86% ✗
• Cap rate: 7.02%
• Cash-on-cash: 2.59%
• DSCR: 1.12
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $202,608
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
416 Whittier Ave	0.12mi	3/1.0	1,632 (+2%)	8mo	$205,000	$126	86
461 Whittier Ave	0.17mi	3/1.5	1,462 (-9%)	6mo	$175,000	$120	70
703 Schuyler St	0.49mi	3/1.0	1,542 (-4%)	3mo	$217,000	$141	68
513 Whittier Ave	0.21mi	4/2.0 (+1)	1,457 (-9%)	1mo	$202,000	$139	64
615 Tompkins St	0.29mi	4/1.5 (+1)	1,540 (-4%)	12mo	$200,000	$130	62
413 Fitch St	0.55mi	3/2.0	1,624 (+1%)	9mo	$50,000	$31	62
136 Bryant Ave	0.25mi	4/1.0 (+1)	1,440 (-10%)	7mo	$220,000	$153	60
557 Tennyson Ave	0.29mi	4/1.5 (+1)	1,427 (-11%)	3mo	$220,000	$154	58
629 S Wilbur Ave	0.43mi	3/2.0	1,389 (-14%)	2mo	$124,000	$89	52
122 Lydell St	0.53mi	4/2.0 (+1)	1,654 (+3%)	12mo	$85,000	$51	52
105 Avoca St	0.41mi	3/1.5	1,376 (-14%)	8mo	$172,000	$125	48
214 Montrose Ave	0.73mi	3/2.0	1,722 (+7%)	10mo	$120,000	$70	41

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: 27.8%
• Equity multiple: 3.24×
• Total profit: $144,393
• Equity at exit: $207,112

10-year hold

• IRR: 25.6%
• Equity multiple: 7.90×
• Total profit: $443,946
• Equity at exit: $446,645

Cash invested: $64,372 (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: 9.7×

Monthly cashflow live

• Estimated rent: $1,973 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$118 /mo · $1,419/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $139

Break-even live

Break-even rent $1,797

Max offer price $229,900

Occupancy floor 88%

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
349 Bryant Ave Syracuse, NY	3.0	1.5	1500	$2,300	$1.53	13d	1	0.10mi
121 Whittier Ave Syracuse, NY	4.0	1.0	1400	$600	$0.43	44d	1	0.26mi
214 Rowland St Syracuse, NY	4.0	1.0	2092	$1,800	$0.86	13d	1	0.74mi
1110 Bellevue Ave Syracuse, NY	3.0	1.0	1449	$1,500	$1.04	44d	1	0.90mi
315 Grant Ave #17 Syracuse, NY	3.0	2.0	1477	$1,275	$0.86	13d	1	0.92mi
318 Kellogg St Unit 1 Syracuse, NY	3.0	1.0	1523	$1,650	$1.08	44d	1	0.95mi
318 Kellogg St Unit 2 Syracuse, NY	3.0	1.0	1523	$1,675	$1.10	44d	1	0.95mi
122 Putnam St Syracuse, NY	3.0	1.0	1064	$2,050	$1.93	21d	1	0.95mi
229 Kellogg St Syracuse, NY	2.0	1.0	2046	$1,300	$0.64	21d	1	1.01mi
326 Holland St Unit 1 Syracuse, NY	3.0	1.0	2100	$1,825	$0.87	44d	1	1.02mi
538 Erie Blvd W Syracuse, NY	2.0	2.0	1110	$2,100	$1.89	21d	1	1.11mi
409 Stolp Ave Syracuse, NY	1.0–3.0	1.0	849	$1,575	$1.86	13d	5	1.15mi
410 Chemung St Unit 1 Syracuse, NY	3.0	1.0	1100	$1,500	$1.36	13d	1	1.18mi
121 W End Dr Syracuse, NY	3.0	1.5	1082	$1,500	$1.39	13d	1	1.25mi
104 Kincaid Ave Syracuse, NY	4.0	1.0	1910	$1,600	$0.84	13d	1	1.26mi
324 W Water St Syracuse, NY	2.0	1.0	1007	$1,975	$1.96	13d	6	1.39mi
324 W Water St Unit 106 Syracuse, NY	2.0	1.0	1436	$2,095	$1.46	21d	1	1.39mi
373 Spencer St Unit 303 Syracuse, NY	2.0	1.5	1085	$1,850	$1.71	44d	1	1.42mi
110 Walton St Unit 201 Syracuse, NY	2.0	2.0	1051	$2,200	$2.09	44d	1	1.48mi
110 Walton St Unit 301 Syracuse, NY	2.0	2.0	1051	$2,000	$1.90	21d	1	1.48mi

Listing history 4 events

1. 2026-05-06
   status Pending
2. 2026-04-27
   historical Active Under Contract
3. 2026-04-10
   listed $229,900 Active
4. 2004-06-01
   soldstatus $92,000

ⓘ 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: $1,419 · $118/mo
• Projected year-2 tax: $2,652 · $221/mo
• Expected delta: +$1,233/yr (+$103/mo · 86.9%)

ⓘ 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 100% 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: $23,671
• − Mortgage interest: −$12,878
• − Property taxes: −$1,419
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,894
• − Management: −$1,894
• − Depreciation: −$6,688
• Taxable loss: −$2,251
• Est. tax savings @ 24.0%: +$540
• After-tax cash flow: $2,204/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

+149.9% since first listed

4 events — show timeline

• 2026-05-06 Pending — CNYIS
• 2026-04-27 Contingent — CNYIS
• 2026-04-10 Listed $229,900 CNYIS
• 2004-06-01 Sold (Public Records) $92,000 Public Records

Property tax history

-0.3%/yr

Latest (2025): $1,419 · +0.0% YoY. Source: county tax records.