127 Delray Ave · Syracuse, NY 13224

$215,000

3 bd · 1.5 ba · 1,579 sqft · SingleFamily public records · 177 Days on market

Built 1950 9,600 sqft lot $136/sqft · 9% above area Est $197k · 9% over

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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 +18.3/30.0
• Appreciation +8.6/10.0
• DSCR +5.7/10.0
• 1% rule +3.9/10.0
• Livability +3.9/5.0
• ARV discount +3.3/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0

Listing remarks MLS

Charming Cape Cod in a prime Syracuse location! Just minutes from Lemoyne, Syracuse University, area hospitals, and everyday amenities, this home blends classic charm with modern updates. The property features beautifully refinished hardwood floors, fresh paint, and updated light fixtures. The spacious kitchen offers stainless steel appliances with plenty of cupboard space. There are 2 large bedrooms and 1 good sized bedroom on the 1st floor as well as a formal dining room! Enjoy added convenience with a 1-car attached garage that leads right to the kitchen. Further updates include new electric panel, new service line and new electric meter and boxes outside! Don't miss this one, schedule your showing today!

Key facts

• Formal dining room
• Attached garage
• 9,600 sq ft lot

Tags

• PRIME SYRACUSE LOCATION
• REFINISHED HARDWOOD FLOORS
• UPDATED LIGHT FIXTURES
• STAINLESS STEEL APPLIANCES
• FORMAL DINING ROOM
• ATTACHED GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $195 ($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 $192k (10.5% below list).
• Recommended offer: $189k (12.0% 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: 24 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• This rent runs 30% of the median local income ($76k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (7.2% 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 (7.2% appreciation + 3.0% rent growth), your $60k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 177 days — a 12% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y 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 $50k; list at $215k implies a 330% 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 $189,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 177 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.89% ✗
• Cap rate: 7.38%
• Cash-on-cash: 3.89%
• DSCR: 1.17
• GRM: 9.3

CMA / ARV

• ARV (median comp): $196,801
• List price: $215,000
• Delta: 9.25%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
518 Seeley Rd	0.11mi	3/2.0	1,563 (-1%)	7mo	$190,000	$122	86
131 Fayette Blvd	0.05mi	3/1.5	1,497 (-5%)	6mo	$199,000	$133	83
707 Seeley Rd	0.15mi	3/1.5	1,550 (-2%)	10mo	$210,000	$135	82
144 Didama St	0.30mi	4/2.0 (+1)	1,585 (+0%)	1mo	$79,000	$50	77
153 Milnor Ave	0.17mi	4/1.5 (+1)	1,611 (+2%)	9mo	$265,000	$164	76
218 Candee Ave	0.24mi	4/1.5 (+1)	1,672 (+6%)	1mo	$225,000	$135	73
2429 E Fayette St	0.37mi	4/2.0 (+1)	1,742 (+10%)	4mo	$190,000	$109	56
655 Hazelwood Ave	0.31mi	4/1.5 (+1)	1,788 (+13%)	8mo	$215,000	$120	52
1016 Northway St	0.68mi	3/1.0	1,475 (-7%)	6mo	$176,000	$119	50
108 Bradford Pkwy	0.64mi	3/3.0	1,640 (+4%)	10mo	$250,000	$152	49
267 Genesee Park Dr	0.41mi	3/2.0	1,344 (-15%)	10mo	$200,000	$149	46
2426 E Genesee St	0.66mi	4/1.5 (+1)	1,446 (-8%)	10mo	$125,000	$86	42

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

Projected returns pro-forma

7.21% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.2%
• Equity multiple: 2.50×
• Total profit: $90,193
• Equity at exit: $151,937

10-year hold

• IRR: 19.8%
• Equity multiple: 5.19×
• Total profit: $252,483
• Equity at exit: $291,323

Cash invested: $60,200 (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 13224

• Home prices YoY: 2.1%
• Active inventory: 24
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,924 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$108 /mo · $1,295/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $195

Break-even live

Break-even rent $1,677

Max offer price $215,000

Occupancy floor 85%

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
118 Niven St Syracuse, NY	3.0	1.0	1150	$1,650	$1.43	20d	1	0.29mi
108 Harrington Rd Syracuse, NY	3.0	2.0	1800	$2,600	$1.44	13d	1	0.65mi
112 Gale Ave Unit 1 Syracuse, NY	2.0	1.0	1848	$1,400	$0.76	43d	1	0.76mi
121 Doll Pkwy Unit A Syracuse, NY	4.0	2.0	1400	$2,800	$2.00	13d	1	0.84mi
205 Fellows Ave Unit 1 Syracuse, NY	3.0	1.0	1638	$1,800	$1.10	20d	1	0.85mi
204 Mariposa St Unit pvt house Syracuse, NY	3.0	1.0	1128	$2,137	$1.89	13d	1	1.16mi
202 Stafford Ave Syracuse, NY	3.0	1.0	1692	$1,800	$1.06	13d	1	1.20mi
99 Alpine Dr Unit 107-2 Syracuse, NY	3.0	1.0	1100	$1,700	$1.55	43d	1	1.21mi
922 Westcott St Syracuse, NY	4.0	2.0	1700	$2,000	$1.18	20d	1	1.33mi
953-55 Westcott St Unit 955 Syracuse, NY	3.0	1.0	1286	$1,500	$1.17	43d	1	1.35mi
1108 Madison St Unit 2 Syracuse, NY	3.0	1.5	1580	$2,080	$1.32	43d	1	1.38mi
620 Euclid Ave Apt 1 Syracuse, NY	3.0	1.0	1248	$1,700	$1.36	43d	1	1.40mi
1801 James St #2 Syracuse, NY	3.0	1.0	1244	$1,800	$1.45	13d	1	1.45mi
1618 James St #3 Syracuse, NY	2.0	1.0	1150	$2,200	$1.91	13d	1	1.45mi

Listing history 14 events

1. 2026-05-15
   status Pending 717-char remark

   Show marketing remark (717 chars)

   Charming Cape Cod in a prime Syracuse location! Just minutes from Lemoyne, Syracuse University, area hospitals, and everyday amenities, this home blends classic charm with modern updates. The property features beautifully refinished hardwood floors, fresh paint, and updated light fixtures. The spacious kitchen offers stainless steel appliances with plenty of cupboard space. There are 2 large bedrooms and 1 good sized bedroom on the 1st floor as well as a formal dining room! Enjoy added convenience with a 1-car attached garage that leads right to the kitchen. Further updates include new electric panel, new service line and new electric meter and boxes outside! Don't miss this one, schedule your showing today!

2. 2026-05-14
   historical Active Under Contract 717-char remark

   Show marketing remark (717 chars)

   Charming Cape Cod in a prime Syracuse location! Just minutes from Lemoyne, Syracuse University, area hospitals, and everyday amenities, this home blends classic charm with modern updates. The property features beautifully refinished hardwood floors, fresh paint, and updated light fixtures. The spacious kitchen offers stainless steel appliances with plenty of cupboard space. There are 2 large bedrooms and 1 good sized bedroom on the 1st floor as well as a formal dining room! Enjoy added convenience with a 1-car attached garage that leads right to the kitchen. Further updates include new electric panel, new service line and new electric meter and boxes outside! Don't miss this one, schedule your showing today!

3. 2026-05-13
   status Active 717-char remark

   Show marketing remark (717 chars)

   Charming Cape Cod in a prime Syracuse location! Just minutes from Lemoyne, Syracuse University, area hospitals, and everyday amenities, this home blends classic charm with modern updates. The property features beautifully refinished hardwood floors, fresh paint, and updated light fixtures. The spacious kitchen offers stainless steel appliances with plenty of cupboard space. There are 2 large bedrooms and 1 good sized bedroom on the 1st floor as well as a formal dining room! Enjoy added convenience with a 1-car attached garage that leads right to the kitchen. Further updates include new electric panel, new service line and new electric meter and boxes outside! Don't miss this one, schedule your showing today!

4. 2026-05-06
   historical 717-char remark

   Show marketing remark (717 chars)

   Charming Cape Cod in a prime Syracuse location! Just minutes from Lemoyne, Syracuse University, area hospitals, and everyday amenities, this home blends classic charm with modern updates. The property features beautifully refinished hardwood floors, fresh paint, and updated light fixtures. The spacious kitchen offers stainless steel appliances with plenty of cupboard space. There are 2 large bedrooms and 1 good sized bedroom on the 1st floor as well as a formal dining room! Enjoy added convenience with a 1-car attached garage that leads right to the kitchen. Further updates include new electric panel, new service line and new electric meter and boxes outside! Don't miss this one, schedule your showing today!

5. 2026-02-11
   status Active 717-char remark

   Show marketing remark (717 chars)

   Charming Cape Cod in a prime Syracuse location! Just minutes from Lemoyne, Syracuse University, area hospitals, and everyday amenities, this home blends classic charm with modern updates. The property features beautifully refinished hardwood floors, fresh paint, and updated light fixtures. The spacious kitchen offers stainless steel appliances with plenty of cupboard space. There are 2 large bedrooms and 1 good sized bedroom on the 1st floor as well as a formal dining room! Enjoy added convenience with a 1-car attached garage that leads right to the kitchen. Further updates include new electric panel, new service line and new electric meter and boxes outside! Don't miss this one, schedule your showing today!

6. 2026-02-06
   historical 717-char remark

   Show marketing remark (717 chars)

   Charming Cape Cod in a prime Syracuse location! Just minutes from Lemoyne, Syracuse University, area hospitals, and everyday amenities, this home blends classic charm with modern updates. The property features beautifully refinished hardwood floors, fresh paint, and updated light fixtures. The spacious kitchen offers stainless steel appliances with plenty of cupboard space. There are 2 large bedrooms and 1 good sized bedroom on the 1st floor as well as a formal dining room! Enjoy added convenience with a 1-car attached garage that leads right to the kitchen. Further updates include new electric panel, new service line and new electric meter and boxes outside! Don't miss this one, schedule your showing today!

7. 2026-01-07
   price $215,000 717-char remark

   Show marketing remark (717 chars)

   Charming Cape Cod in a prime Syracuse location! Just minutes from Lemoyne, Syracuse University, area hospitals, and everyday amenities, this home blends classic charm with modern updates. The property features beautifully refinished hardwood floors, fresh paint, and updated light fixtures. The spacious kitchen offers stainless steel appliances with plenty of cupboard space. There are 2 large bedrooms and 1 good sized bedroom on the 1st floor as well as a formal dining room! Enjoy added convenience with a 1-car attached garage that leads right to the kitchen. Further updates include new electric panel, new service line and new electric meter and boxes outside! Don't miss this one, schedule your showing today!

8. 2025-11-07
   listed $219,900 Active 717-char remark

   Show marketing remark (717 chars)

   Charming Cape Cod in a prime Syracuse location! Just minutes from Lemoyne, Syracuse University, area hospitals, and everyday amenities, this home blends classic charm with modern updates. The property features beautifully refinished hardwood floors, fresh paint, and updated light fixtures. The spacious kitchen offers stainless steel appliances with plenty of cupboard space. There are 2 large bedrooms and 1 good sized bedroom on the 1st floor as well as a formal dining room! Enjoy added convenience with a 1-car attached garage that leads right to the kitchen. Further updates include new electric panel, new service line and new electric meter and boxes outside! Don't miss this one, schedule your showing today!

9. 2018-09-04
   soldstatus $50,000 Closed Sale or Rented 448-char remark

   Show marketing remark (448 chars)

   Great opportunity for someone with a little imagination and energy. Family home for 50 years, vinyl sided, some replacement windows, large living room with bay window. Large kitchen with newer stove/oven, dining room, three good sized bedrooms, 1.5 baths all on the first floor. Hardwood floors, 2nd floor has a bedroom and office area. Walkout lower level. All on a double homesite. Conveniently located to Erie Boulevard, 690 and Lemoyne College.

10. 2018-08-28
    soldstatus $50,000
11. 2018-07-10
    status Pending Sale 448-char remark

    Show marketing remark (448 chars)

    Great opportunity for someone with a little imagination and energy. Family home for 50 years, vinyl sided, some replacement windows, large living room with bay window. Large kitchen with newer stove/oven, dining room, three good sized bedrooms, 1.5 baths all on the first floor. Hardwood floors, 2nd floor has a bedroom and office area. Walkout lower level. All on a double homesite. Conveniently located to Erie Boulevard, 690 and Lemoyne College.

12. 2018-07-02
    historical Continue to Show- Under Contract 448-char remark

    Show marketing remark (448 chars)

    Great opportunity for someone with a little imagination and energy. Family home for 50 years, vinyl sided, some replacement windows, large living room with bay window. Large kitchen with newer stove/oven, dining room, three good sized bedrooms, 1.5 baths all on the first floor. Hardwood floors, 2nd floor has a bedroom and office area. Walkout lower level. All on a double homesite. Conveniently located to Erie Boulevard, 690 and Lemoyne College.

13. 2018-06-26
    price $53,000 448-char remark

    Show marketing remark (448 chars)

    Great opportunity for someone with a little imagination and energy. Family home for 50 years, vinyl sided, some replacement windows, large living room with bay window. Large kitchen with newer stove/oven, dining room, three good sized bedrooms, 1.5 baths all on the first floor. Hardwood floors, 2nd floor has a bedroom and office area. Walkout lower level. All on a double homesite. Conveniently located to Erie Boulevard, 690 and Lemoyne College.

14. 2018-06-15
    listed $54,900 Active 448-char remark

    Show marketing remark (448 chars)

    Great opportunity for someone with a little imagination and energy. Family home for 50 years, vinyl sided, some replacement windows, large living room with bay window. Large kitchen with newer stove/oven, dining room, three good sized bedrooms, 1.5 baths all on the first floor. Hardwood floors, 2nd floor has a bedroom and office area. Walkout lower level. All on a double homesite. Conveniently located to Erie Boulevard, 690 and Lemoyne College.

ⓘ 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: $1,295 · $108/mo
• Projected year-2 tax: $2,464 · $205/mo
• Expected delta: +$1,169/yr (+$97/mo · 90.3%)

ⓘ 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 ≥94°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: $23,087
• − Mortgage interest: −$12,043
• − Property taxes: −$1,295
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,847
• − Management: −$1,847
• − Depreciation: −$6,255
• Taxable loss: −$1,275
• Est. tax savings @ 24.0%: +$306
• After-tax cash flow: $2,645/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): 8,659
• Household income: $76,500
• Rent vs Own: 34.9% rent · 65.1% own
• Severe rent burden: 423.0

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 0.67)
• Race & ethnicity: White 47% Black 32% Two or more races 10% Hispanic / Latino 8% Asian 6%
• Hispanic origin (detail): Puerto Rican 3% Cuban 1% Dominican 2%
• Common ancestry: Romanian 3% Arab 2% Subsaharan African 2%
• Foreign-born: 16% · Canada, China, Jamaica
• Languages at home: 84% English-only · Spanish 6% Arabic 4% Other Indo-European 2%

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: ▲ 7.21%
• Current HPI: 350.9419
• 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

+291.6% since first listed

14 events — show timeline

• 2026-05-15 Pending — CNYIS
• 2026-05-14 Contingent — CNYIS
• 2026-05-13 Relisted — CNYIS
• 2026-05-06 Listing Removed — CNYIS
• 2026-02-11 Relisted — CNYIS
• 2026-02-06 Listing Removed — CNYIS
• 2026-01-07 Price Changed $215,000 CNYIS
• 2025-11-07 Listed $219,900 CNYIS
• 2018-09-04 Sold (MLS) $50,000 CNYIS
• 2018-08-28 Sold (Public Records) $50,000 Public Records
• 2018-07-10 Pending — CNYIS
• 2018-07-02 Contingent — CNYIS
• 2018-06-26 Price Changed $53,000 CNYIS
• 2018-06-15 Listed $54,900 CNYIS

Property tax history

+5.5%/yr

Latest (2025): $1,295 · +0.0% YoY. Source: county tax records.