501 Montrose Ave · Solvay, NY 13219

$299,900

6 bd · 2.0 ba · 2,911 sqft · MultiFamily public records · 50 Days on market

Built 1930 5,720 sqft lot $103/sqft · 13% below area Est $345k · 13% under

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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 +17.4/30.0
• ARV discount +13.4/15.0
• 1% rule +5.9/10.0
• DSCR +5.4/10.0
• Livability +3.6/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Are you in search of a low maintenance investment property? This property has a brand new roof and other cosmetic upgrades which saves you money. The building boasts 2 gorgeous apartments with paying tenants and a garage that holds 9 vehicles. The garage is currently rented out for $350 per month and this arrangement will end with the sale of the property. The building is located on a large corner lot near not far from shopping, dining and entertainment options. The home is on the Solvay Rental Registry and has been inspected by the Town Code Enforcement Officer. If you're a savvy investor make sure you take a look at 501 Montrose Ave.

Key facts

• 5,720 sq ft lot
• 3 garage spots
• Built 1930

Property features AI

Finance

• Financial info: Property configured as a 2-unit building; Each unit has separate gas meters (2) and a shared electric meter (1); Unit 1 currently rents for $1,800; Unit 2 currently rents for $1,600; Owner pays electricity, gas, heat, hot water and water; Operating expenses include water/sewer; Rents include electricity, heat, hot water and water

Exterior

• Parking: Detached garage with 3 garage spaces; Two or more paved parking spaces
• Utilities: Public water connected; Sewer connected
• Home design: Two-story property; Resale property; Aluminum siding exterior
• Construction: Aluminum siding construction; Existing (original) construction; 2 total stories
• Exterior features: Rectangular residential lot with 44 x 130 dimensions; City street frontage; Paved parking

Interior

• Kitchen: Each unit includes an eat-in kitchen
• Bedrooms: Two 2-bedroom units (each unit listed as 2 bedrooms)
• Flooring: Hardwood; Varies by area
• Bathrooms: Each unit has one full bathroom (2 full bathrooms total)
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement; Hardwood and varied flooring
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $223 ($3k/yr) — positive. Per door: $111/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $300k).
• Recommended offer: $291k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#350 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: employment D+, crime D, amenities F.
• Solvay Union Free School District (suburban): math 31% / reading 42% proficiency, ranked #550 of 590 in NY (top 93%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 52 active listings in the ZIP; solid renter incomes; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• At $3,256/mo this rent would consume 46% of the median local household income ($85k/yr) (locally 222% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 15y 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 $255k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $290,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% 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 1930 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. 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?
9. 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.
10. 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.
11. 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: 1.09% ✓
• Cap rate: 7.18%
• Cash-on-cash: 3.18%
• DSCR: 1.14
• GRM: 7.7

CMA / ARV

• ARV (median comp): $345,064
• List price: $299,900
• Delta: -13.09%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
218-20 Avery Ave	0.35mi	6/2.0	2,784 (-4%)	10mo	$341,000	$122	68
313 Herkimer St	0.65mi	6/2.0	2,994 (+3%)	1mo	$280,000	$94	64
602 Tompkins St	0.43mi	6/2.0	2,624 (-10%)	3mo	$265,000	$101	61
806 Avery Ave	0.59mi	6/2.0	2,932 (+1%)	18mo	$171,000	$58	56
300 Whittier Ave	0.71mi	6/3.0	3,084 (+6%)	18mo	$150,000	$49	38
246 Coleridge Ave #48	0.74mi	6/3.0	3,321 (+14%)	18mo	$351,555	$106	23

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: -11.2%
• Equity multiple: 0.59×
• Total profit: $-34,194
• Equity at exit: $44,716

10-year hold

• IRR: -1.9%
• Equity multiple: 0.87×
• Total profit: $-10,622
• Equity at exit: $25,930

Cash invested: $83,972 (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 13219

• Home prices YoY: -20.6%
• Active inventory: 52
• Price-to-rent: 15.4×

Monthly cashflow live

• Estimated rent: $3,256 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$652 /mo · $7,823/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$684
• Net cashflow: $223

Break-even live

Break-even rent $2,974

Max offer price $299,900

Occupancy floor 88%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,256
Total (2 units)			$3,256

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Listing history 36 events

1. 2026-06-18
   days on market $299,900 Active 50 DOM
2. 2026-06-17
   days on market $299,900 Active 49 DOM
3. 2026-06-16
   days on market $299,900 Active 48 DOM
4. 2026-06-15
   days on market $299,900 Active 47 DOM
5. 2026-06-14
   days on market $299,900 Active 45 DOM
6. 2026-06-13
   days on market $299,900 Active 44 DOM
7. 2026-06-10
   days on market $299,900 Active 42 DOM
8. 2026-06-09
   days on market $299,900 Active 41 DOM
9. 2026-06-08
   days on market $299,900 Active 40 DOM
10. 2026-06-07
    days on market $299,900 Active 39 DOM
11. 2026-06-02
    days on market $299,900 Active 34 DOM
12. 2026-06-01
    days on market $299,900 Active 33 DOM
13. 2026-05-31
    days on market $299,900 Active 32 DOM
14. 2026-05-30
    days on market $299,900 Active 31 DOM
15. 2026-05-14
    price $299,900 578-char remark
16. 2026-04-29
    listed $309,900 Active 578-char remark
17. 2023-12-01
    soldstatus $255,000
18. 2023-11-17
    soldstatus $255,000 Closed Sale or Rented 644-char remark

    Show marketing remark (644 chars)

    Are you in search of a low maintenance investment property? This property has a brand new roof and other cosmetic upgrades which saves you money. The building boasts 2 gorgeous apartments with paying tenants and a garage that holds 9 vehicles. The garage is currently rented out for $350 per month and this arrangement will end with the sale of the property. The building is located on a large corner lot near not far from shopping, dining and entertainment options. The home is on the Solvay Rental Registry and has been inspected by the Town Code Enforcement Officer. If you're a savvy investor make sure you take a look at 501 Montrose Ave.

19. 2023-10-04
    status Pending Sale 644-char remark

    Show marketing remark (644 chars)

    Are you in search of a low maintenance investment property? This property has a brand new roof and other cosmetic upgrades which saves you money. The building boasts 2 gorgeous apartments with paying tenants and a garage that holds 9 vehicles. The garage is currently rented out for $350 per month and this arrangement will end with the sale of the property. The building is located on a large corner lot near not far from shopping, dining and entertainment options. The home is on the Solvay Rental Registry and has been inspected by the Town Code Enforcement Officer. If you're a savvy investor make sure you take a look at 501 Montrose Ave.

20. 2023-09-07
    historical Continue to Show- Under Contract 644-char remark

    Show marketing remark (644 chars)

    Are you in search of a low maintenance investment property? This property has a brand new roof and other cosmetic upgrades which saves you money. The building boasts 2 gorgeous apartments with paying tenants and a garage that holds 9 vehicles. The garage is currently rented out for $350 per month and this arrangement will end with the sale of the property. The building is located on a large corner lot near not far from shopping, dining and entertainment options. The home is on the Solvay Rental Registry and has been inspected by the Town Code Enforcement Officer. If you're a savvy investor make sure you take a look at 501 Montrose Ave.

21. 2023-08-31
    listed $249,900 Active 644-char remark

    Show marketing remark (644 chars)

    Are you in search of a low maintenance investment property? This property has a brand new roof and other cosmetic upgrades which saves you money. The building boasts 2 gorgeous apartments with paying tenants and a garage that holds 9 vehicles. The garage is currently rented out for $350 per month and this arrangement will end with the sale of the property. The building is located on a large corner lot near not far from shopping, dining and entertainment options. The home is on the Solvay Rental Registry and has been inspected by the Town Code Enforcement Officer. If you're a savvy investor make sure you take a look at 501 Montrose Ave.

22. 2023-04-04
    historical
23. 2023-03-28
    historical Continue to Show- Under Contract
24. 2023-03-24
    status Active
25. 2023-02-20
    historical Continue to Show- Under Contract
26. 2023-02-03
    listed $249,900 Active
27. 2022-11-22
    soldstatus $185,000 Closed Sale or Rented
28. 2022-11-16
    soldstatus $185,000
29. 2022-11-03
    status Under Contract- Do Not Show
30. 2022-10-12
    historical Continue to Show- Under Contract
31. 2022-10-04
    status Active
32. 2022-09-24
    historical Continue to Show- Under Contract
33. 2022-09-21
    listed $185,000 Active
34. 2012-01-20
    historical
35. 2012-01-16
    soldstatus $79,785
36. 2011-08-17
    listed $109,000

ⓘ 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: $7,823 · $652/mo
• Projected year-2 tax: $7,823 · $652/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 3/10 Moderate FEMA zone X (unshaded) · 10% 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: $39,072
• − Mortgage interest: −$16,799
• − Property taxes: −$7,823
• − Insurance: −$1,500
• − Repairs & maintenance: −$3,126
• − Management: −$3,126
• − Depreciation: −$8,724
• Taxable loss: −$2,025
• Est. tax savings @ 24.0%: +$486
• After-tax cash flow: $3,158/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: Solvay Union Free School District
• NCES district ID: 3627150
• Math proficiency: 31% ▼ -14.00%
• Reading proficiency: 42% ▼ -4.00%
• Median HH income: $47,163
• Composite: 31.28/100
• National rank: #6018
• State rank: #550 of 590 in NY

Livability — Solvay

• Score: 72/100
• State rank: #350
• US rank: #5913

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Solvay, NY
• County: Onondaga County · 247,257 people
• Metro: Syracuse, NY
• Population (ZIP): 14,744
• Household income: $85,149
• Rent vs Own: 14.1% rent · 85.9% own
• Severe rent burden: 222.0

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: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 5% Hispanic / Latino 5% Black 4% Asian 1%
• Common ancestry: Romanian 8% Lithuanian 4% Subsaharan African 3%
• Foreign-born: 7% · Canada
• Languages at home: 91% English-only · Russian/Polish/Slavic 3% Spanish 2% 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: ▼ -77.80%
• Current HPI: 300.7211
• 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

+175.1% since first listed

22 events — show timeline

• 2026-05-14 Price Changed $299,900 CNYIS
• 2026-04-29 Listed $309,900 CNYIS
• 2023-12-01 Sold (Public Records) $255,000 Public Records
• 2023-11-17 Sold (MLS) $255,000 CNYIS
• 2023-10-04 Pending — CNYIS
• 2023-09-07 Contingent — CNYIS
• 2023-08-31 Listed $249,900 CNYIS
• 2023-04-04 Listing Removed — CNYIS
• 2023-03-28 Contingent — CNYIS
• 2023-03-24 Relisted — CNYIS
• 2023-02-20 Contingent — CNYIS
• 2023-02-03 Listed $249,900 CNYIS
• 2022-11-22 Sold (MLS) $185,000 CNYIS
• 2022-11-16 Sold (Public Records) $185,000 Public Records
• 2022-11-03 Pending — CNYIS
• 2022-10-12 Contingent — CNYIS
• 2022-10-04 Relisted — CNYIS
• 2022-09-24 Contingent — CNYIS
• 2022-09-21 Listed $185,000 CNYIS
• 2012-01-20 Listing Removed — CNYIS
• 2012-01-16 Sold (MLS) $79,785 CNYIS
• 2011-08-17 Listed $109,000 CNYIS

Property tax history

+4.9%/yr

Latest (2025): $7,823 · +17.4% YoY. Source: county tax records.