103 Meredith Ave · Nedrow, NY 13120

$184,900

5 bd · 1.0 ba · 1,516 sqft · SingleFamily public records · 94 Days on market

Built 1890 7,770 sqft lot Est $205k · 10% 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).

• ARV discount +11.8/15.0
• Cash flow +11.6/30.0
• Appreciation +9.1/10.0
• Schools +5.0/10.0
• Livability +3.6/5.0
• 1% rule +3.5/10.0
• DSCR +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome Home! Check out this spectacular 3 bedroom 2 full bath home with many modern features. The front entrance brings you in through a covered front porch and into a large living room the width of the home with lots of space and built in bench. This leads into the formal dining room, hosting plenty of room for a sizeable table and great space for hosting guests. Off of the dining room there is a completely updated full bathroom. And then from the dining room, into the updated kitchen with new cabinets, countertops and lighting. There is also a laundry room off the kitchen, for an added convenience. Upstairs there are 3 generous sized bedrooms and another updated full bathroom with tiled

Key facts

• Covered front porch
• Built in bench
• Formal dining room

Tags

• COVERED FRONT PORCH
• LARGE LIVING ROOM
• BUILT IN BENCH
• FORMAL DINING ROOM
• UPDATED FULL BATHROOM
• UPDATED KITCHEN

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $-58 ($-702/yr) — negative.
• To cash-flow at today's rent, offer at most $175k (5.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $157k (15.0% below list).
• Recommended offer: $157k (15.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 71/100 on livability (#415 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment C-, amenities F, commute F.
• Onondaga Central School District (rural): math 54% / reading 61% proficiency, ranked #261 of 590 in NY (top 44%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Wheeler Elementary School (math 47% / reading 62%, grade C, #908 of 2,108 statewide, top 46%, 233 students, 54% FRL); Onondaga Senior High School (math 62% / reading 67%, grade B-, #776 of 1,100 statewide, top 73%, 327 students, 50% FRL) — zoned schools average 52% FRL vs 30% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 9 active listings in the ZIP; 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 + $15k appreciation (8.1% 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 (8.1% appreciation + 3.0% rent growth), your $52k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($168k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $157,241 (15.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 0.85% ✗
• Cap rate: 5.91%
• Cash-on-cash: -1.36%
• DSCR: 0.94
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $204,660
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
222 Hoover Dr	0.52mi	4/2.0 (-1)	1,460 (-4%)	8mo	$197,000	$135	54
132 Wendell Ave	0.17mi	4/2.0 (-1)	1,300 (-14%)	9mo	$167,500	$129	52
104 W Roswell Ave	0.17mi	4/1.0 (-1)	1,330 (-12%)	18mo	$65,000	$49	52
6408 S Salina St	0.12mi	4/2.0 (-1)	1,290 (-15%)	17mo	$210,000	$163	46
220 Hoover Dr	0.51mi	4/1.5 (-1)	1,308 (-14%)	5mo	$179,900	$138	42

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

Projected returns pro-forma

8.13% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.3%
• Equity multiple: 2.43×
• Total profit: $74,011
• Equity at exit: $142,099

10-year hold

• IRR: 18.0%
• Equity multiple: 5.20×
• Total profit: $217,644
• Equity at exit: $283,631

Cash invested: $51,772 (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 13120

• Home prices YoY: 2.9%
• Active inventory: 9
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,572 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$254 /mo · $3,048/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $-58

Break-even live

Break-even rent $1,646

Max offer price $174,572

Occupancy floor 99%

Sensitivity live

Price	-10% $46	-5% $-6	+0% $-58	+5% $-111	+10% $-163
Rent	-10% $-183	-5% $-121	+0% $-58	+5% $4	+10% $66
Rate	-1.0pp $35	-0.5pp $-11	base $-58	+0.5pp $-106	+1.0pp $-155

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $184,900 Active 94 DOM
2. 2026-06-18
   days on market $184,900 Active 91 DOM
3. 2026-06-17
   days on market $184,900 Active 90 DOM
4. 2026-06-16
   days on market $184,900 Active 89 DOM
5. 2026-06-15
   days on market $184,900 Active 88 DOM
6. 2026-06-14
   days on market $184,900 Active 86 DOM
7. 2026-06-13
   days on market $184,900 Active 85 DOM
8. 2026-06-10
   statusdays on market $184,900 Active 83 DOM
9. 2026-06-09
   days on market $184,900 Active Under Contract 82 DOM
10. 2026-06-08
    days on market $184,900 Active Under Contract 81 DOM
11. 2026-06-07
    days on market $184,900 Active Under Contract 80 DOM
12. 2026-06-05
    days on market $184,900 Active Under Contract 77 DOM
13. 2026-06-03
    days on market $184,900 Active Under Contract 76 DOM
14. 2026-06-02
    days on market $184,900 Active Under Contract 75 DOM
15. 2026-06-01
    days on market $184,900 Active Under Contract 74 DOM
16. 2026-05-31
    days on market $184,900 Active Under Contract 73 DOM
17. 2026-05-30
    days on market $184,900 Active Under Contract 72 DOM
18. 2026-03-31
    historical Active Under Contract
19. 2026-03-19
    listed $184,900 Active

ⓘ 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: $3,048 · $254/mo
• Projected year-2 tax: $3,086 · $257/mo
• Expected delta: +$38/yr (+$3/mo · 1.3%)

ⓘ 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 ≥93°F today · 17 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: $18,869
• − Mortgage interest: −$10,357
• − Property taxes: −$3,048
• − Insurance: −$924
• − Repairs & maintenance: −$1,510
• − Management: −$1,510
• − Depreciation: −$5,379
• Taxable loss: −$3,859
• Est. tax savings @ 24.0%: +$926
• After-tax cash flow: $225/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: Onondaga Central School District
• NCES district ID: 3621810
• Math proficiency: 54% ▼ -5.00%
• Reading proficiency: 61% ▲ 16.00%
• Median HH income: $60,148
• Composite: 49.95/100
• National rank: #1929
• State rank: #261 of 590 in NY

Livability — Nedrow

• Score: 71/100
• State rank: #415
• US rank: #7218

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Nedrow, NY
• Population (ZIP): 1,881

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 (69%)
• Race & ethnicity: White 69% Native American 21% Black 4% Two or more races 3% Asian 3% Hispanic / Latino 1%
• Common ancestry: Slovak 5% Romanian 5% Iranian 4%
• Foreign-born: 5% · China, Canada
• Languages at home: 94% English-only · Chinese 3% Spanish 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: ▲ 8.13%
• Current HPI: 285.9921
• 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

2 events — show timeline

• 2026-03-31 Contingent — CNYIS
• 2026-03-19 Listed $184,900 CNYIS

Property tax history

+0.6%/yr

Latest (2025): $3,048 · +1.6% YoY. Source: county tax records.