135 Parkside Ave #37 · Syracuse, NY 13207

$245,000

8 bd · 3.0 ba · 3,512 sqft · MultiFamily public records · 11 Days on market

Built 1920 5,200 sqft lot $70/sqft · 45% above area Est $168k · 45% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

This 3 unit has new windows and new siding put in 2025. All separate meters and Tenants pay their own utilities. GREAT for investors or owner occupied. Exceptional investment opportunity!!!This 3 family could be part of a large portfolio consisting of 13 buildings totaling 36 units, offering scale and strong income potential. All units are occupied by long term tenants, proving consistent cash flow. This is a rare chance to acquire multiple units in a bundle sale. "SOLD AS IS "

Key facts

• Multiple units
• New siding
• New windows

Tags

• NEW WINDOWS
• NEW SIDING
• SEPARATE METERS
• MULTIPLE UNITS

Property features AI

Finance

• Other: Three separate electric meters and three separate gas meters
• Financial info: Owner pays water; tenants pay all other utilities; Operating expenses include maintenance and water; Each unit currently shows rent of $950

Exterior

• Parking: Paved parking
• Utilities: Public water connected; Sewer connected
• Home design: Multifamily building with 3 units; 2-story building; Vinyl siding; Resale property
• Construction: Vinyl siding construction
• Exterior features: Open porch; Irregular lot; Near public transit; Residential lot; City street frontage

Interior

• Kitchen: Each unit includes an oven/range and refrigerator; Two units include a microwave; one unit specifies an eat-in kitchen
• Bedrooms: Three units: one 2-bedroom unit and two 3-bedroom units
• Flooring: Hardwood; Laminate; Vinyl; Varies
• Bathrooms: Three full bathrooms (one per unit)
• Heating & cooling: Forced air heating with electric and gas options
• Interior features: Full basement; Hardwood, laminate, vinyl and varied flooring
• Laundry & utility: Electric and gas water heaters

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $245k.

Deal economics

• At list price, monthly cash flow is $3k ($36k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $245k).
• Cap rate 21.1% 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: 63 active listings in the ZIP; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Onondaga County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $69k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $30k; list at $245k implies a 717% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $245,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 2.35% ✓
• Cap rate: 21.06%
• Cash-on-cash: 52.75%
• DSCR: 3.35
• GRM: 3.6

CMA / ARV

• ARV (median comp): $168,395
• List price: $245,000
• Delta: 45.49%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
228 Palmer Ave #30	0.51mi	9/3.0 (+1)	3,462 (-1%)	3mo	$205,000	$59	66
944 Bellevue Ave	0.65mi	8/3.0	3,378 (-4%)	0mo	$380,000	$112	63
200 Kirk Ave	0.70mi	7/4.0 (-1)	3,624 (+3%)	3mo	$209,000	$58	50
367-369 Furman St	0.45mi	9/3.0 (+1)	3,138 (-11%)	10mo	$197,000	$63	47
248 Sterling Ave	0.47mi	8/2.0	3,076 (-12%)	16mo	$90,000	$29	41
252 - 254 Furman St	0.64mi	8/2.0	3,820 (+9%)	14mo	$120,000	$31	40
303 Landon Ave	0.72mi	7/3.0 (-1)	3,740 (+6%)	14mo	$120,000	$32	39

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

Projected returns pro-forma

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

5-year hold

• IRR: 50.7%
• Equity multiple: 3.22×
• Total profit: $152,330
• Equity at exit: $36,530

10-year hold

• IRR: 56.1%
• Equity multiple: 6.54×
• Total profit: $379,876
• Equity at exit: $21,183

Cash invested: $68,600 (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 13207

• Home prices YoY: -23.0%
• Active inventory: 63
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $5,751 high
• Mortgage (P&I): −$1,285
• Tax from tax record: −$141 /mo · $1,693/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,208
• Net cashflow: $3,015

Break-even live

Break-even rent $1,934

Max offer price $245,000

Occupancy floor 43%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$5,751
Total (3 units)			$5,751

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-05
   status Pending 492-char remark
2. 2026-04-24
   listed $245,000 Active 492-char remark
3. 1996-09-16
   soldstatus $30,000

ⓘ 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: $1,693 · $141/mo
• Projected year-2 tax: $2,917 · $243/mo
• Expected delta: +$1,224/yr (+$102/mo · 72.3%)

ⓘ 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 ≥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: $69,012
• − Mortgage interest: −$13,724
• − Property taxes: −$1,693
• − Insurance: −$1,225
• − Repairs & maintenance: −$5,521
• − Management: −$5,521
• − Depreciation: −$7,127
• Taxable income: $34,201
• Est. tax owed @ 24.0%: −$8,208
• After-tax cash flow: $27,975/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
• City population: 152,627
• Population (ZIP): 12,383

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 43% Black 33% Hispanic / Latino 17% Two or more races 11% Native American 1% Asian 1%
• Hispanic origin (detail): Puerto Rican 13% Cuban 1%
• Common ancestry: Romanian 3% Lithuanian 1% Slovak 1%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 89% English-only · Spanish 9% French/Haitian/Cajun 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: ▼ -95.17%
• Current HPI: 318.9257
• 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

+716.7% since first listed

3 events — show timeline

• 2026-05-05 Pending — CNYIS
• 2026-04-24 Listed $245,000 CNYIS
• 1996-09-16 Sold (Public Records) $30,000 Public Records

Property tax history

+0.1%/yr

Latest (2025): $1,693 · +1.4% YoY. Source: county tax records.