474 E Seneca Trnpke Tpke

Syracuse, NY 13205

$129,900B+

2 bd · 2.5 ba · 1,056 sqft · Built 1950 · SingleFamily · Pending · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,491/mo
• Mortgage (P&I): −$681
• Tax + insurance: −$114
• HOA: −$0
• Vac / Maint / Mgmt: −$313
• Net cashflow: $383/mo
• Annual: $4,592/yr
• Cap rate: 9.83%
• Cash-on-cash: 12.63%
• DSCR: 1.56
• 1% rule: 1.15%
• Cash to close: $36,372

Investor read

• This is a 2-bed/2.5-bath single-family listed at $130k.
• At list price, monthly cash flow is $383 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $14k of equity ($898 loan paydown + $13k appreciation (10.0% local appreciation)).
• 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: 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.
• Zoned schools: Syracuse Latin School (math 31% / reading 62%, grade D-, #1,262 of 2,108 statewide, top 60%, 642 students, 42% FRL); Clary Middle School (math 2% / reading 14%, grade F, #724 of 729 statewide, top 99%, 275 students, 89% FRL); Corcoran High School (math 61% / reading 62%, grade B-, #842 of 1,100 statewide, top 77%, 1,252 students, 87% FRL) — zoned schools at 73% FRL track the district average.
• Zoned-school proficiency averages 39% at this address vs 22% district-wide (+17 pts) — the actual schools serving this property are materially stronger than the Syracuse City School District average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 68 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• 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 $36k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.