313 Garden City Dr · Mattydale, NY 13211

$145,000

4 bd · 2.0 ba · 1,518 sqft · MultiFamily public records · 560 Days on market

Built 1925 7,500 sqft lot

---

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 +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks

Expect to be impressed with this 2-family home in Mattydale. House has good bones and 2-car garage. Currently the front of the house has 2-bedrooms and 1 full bath. Great kitchen & updated bathroom. It has an enclosed porch, living room, dining room and an eat-in kitchen. Back of the house has 1 bedroom, 1 full bath w/ dine-in kitchen. Two separate utilities and tenants are all good housekeepers & well kept. 2-car garage is rented for additional income, $157/month. This is to be sold with 402 W Yates St. in East Syracuse as a package deal for $290,000.

Key facts

• 7,500 sq ft lot
• 2 garage spots
• Built 1925

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $145k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $581/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $145k).
• Recommended offer: $128k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.9% vs local median 5.4% in Mattydale — 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 72/100 on livability (#360 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, crime D, amenities F.
• North Syracuse Central School District (suburban): math 45% / reading 50% proficiency, ranked #402 of 590 in NY (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 21 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $14k 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 $41k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 560 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $20k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.5% of price; built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 560 days. Have you received any prior offers? Is the seller open to a 12% 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 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. Crime grade is D 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?
10. 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.
11. 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.
12. 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: 2.20% ✓
• Cap rate: 15.91%
• Cash-on-cash: 34.35%
• DSCR: 2.53
• GRM: 3.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 50.7%
• Equity multiple: 4.78×
• Total profit: $153,268
• Equity at exit: $130,627

10-year hold

• IRR: 44.4%
• Equity multiple: 10.70×
• Total profit: $393,665
• Equity at exit: $281,703

Cash invested: $40,600 (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 13211

• Home prices YoY: 10.7%
• Active inventory: 21
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $3,192 high
• Mortgage (P&I): −$760
• Tax from tax record: −$539 /mo · $6,462/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$670
• Net cashflow: $1,162

Break-even live

Break-even rent $1,721

Max offer price $145,000

Occupancy floor 59%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,192
Total (2 units)			$3,192

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
106 Harrington St Syracuse, NY	3.0	1.0	1168	$1,875	$1.61	43d	1	0.36mi
286 Ross Park Syracuse, NY	3.0	1.0	1100	$1,500	$1.36	44d	1	1.20mi
103 Hyland Dr Syracuse, NY	3.0	1.0	1260	$2,400	$1.90	13d	1	1.32mi

Listing history 13 events

1. 2025-12-09
   status Pending
2. 2025-12-01
   historical Active Under Contract
3. 2025-06-11
   price $145,000
4. 2025-02-14
   status Active
5. 2025-02-12
   status Active
6. 2024-12-13
   status Pending
7. 2024-11-30
   historical
8. 2024-11-30
   historical
9. 2024-09-06
   historical Active Under Contract
10. 2024-03-13
    listed $165,000 Active
11. 2021-12-27
    soldstatus $145,000
12. 2016-12-05
    soldstatus $46,000
13. 2016-12-05
    soldstatus $46,000

ⓘ 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: $6,462 · $539/mo
• Projected year-2 tax: $6,462 · $539/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 2/10 Low FEMA zone X (unshaded) · 7% 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: $38,304
• − Mortgage interest: −$8,122
• − Property taxes: −$6,462
• − Insurance: −$725
• − Repairs & maintenance: −$3,064
• − Management: −$3,064
• − Depreciation: −$4,218
• Taxable income: $12,647
• Est. tax owed @ 24.0%: −$3,035
• After-tax cash flow: $10,913/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: North Syracuse Central School District
• NCES district ID: 3621210
• Math proficiency: 45% ▼ -9.00%
• Reading proficiency: 50% ▲ 1.00%
• Median HH income: $62,904
• Composite: 41.93/100
• National rank: #3356
• State rank: #402 of 590 in NY

Livability — Mattydale

• Score: 72/100
• State rank: #360
• US rank: #6130

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mattydale, NY
• City population: 6,155
• Population (ZIP): 6,155

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 (78%)
• Race & ethnicity: White 78% Two or more races 7% Asian 5% Hispanic / Latino 5% Black 4%
• Common ancestry: Romanian 7% Lithuanian 5% Iranian 2%
• Foreign-born: 5% · Philippines, India, Vietnam
• Languages at home: 93% English-only · Other Indo-European 2% Other Asian/Pacific 2% Russian/Polish/Slavic 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: ▲ 31.87%
• Current HPI: 330.266
• 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

+215.2% since first listed

13 events — show timeline

• 2025-12-09 Pending — CNYIS
• 2025-12-01 Contingent — CNYIS
• 2025-06-11 Price Changed $145,000 CNYIS
• 2025-02-14 Relisted — CNYIS
• 2025-02-12 Relisted — CNYIS
• 2024-12-13 Pending — CNYIS
• 2024-11-30 Listing Removed — CNYIS
• 2024-11-30 Listing Removed — CNYIS
• 2024-09-06 Contingent — CNYIS
• 2024-03-13 Listed $165,000 CNYIS
• 2021-12-27 Sold (Public Records) $145,000 Public Records
• 2016-12-05 Sold (Public Records) $46,000 Public Records
• 2016-12-05 Sold (Public Records) $46,000 Public Records

Property tax history

+7.0%/yr

Latest (2025): $6,462 · -0.6% YoY. Source: county tax records.