156 Watertree Dr · East Syracuse, NY 13057

$149,900

1 bd · 1.0 ba · 718 sqft · Condo public records · 21 Days on market

Built 1970 $278/mo HOA · 18% of rent

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Why this score? — see what drove the D 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 +11.8/30.0
• ARV discount +7.5/15.0
• 1% rule +5.2/10.0
• Livability +4.5/5.0
• Schools +4.3/10.0
• DSCR +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don't miss out on this 1 bedroom recently updated condo in popular Watertree of Dewitt! Kitchen has beautiful stainless steel appliances, tile floor and newer cabinets with plenty of storage! Bath was updated with new vanity and tub insert! This unit overlooks the woods so you'll enjoy plenty of privacy while enjoying sitting on the balcony! Coin laundry and additional storage unit in the basement! HOA is putting a new pool in and you can enjoy the community center, tennis courts. .. . and maintenance free living!! Make your appointment today!! Please have offers in by 6/12 @ 4 p. m. Thanks!

Key facts

• Tile floor
• Swimming pool
• New cabinets

Tags

• STAINLESS STEEL APPLIANCES
• TILE FLOOR
• NEW CABINETS
• OUTDOOR PATIO
• PRIVATE PARKLIKE BACKYARD
• SWIMMING POOL

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Association: Watertree; Monthly association fee of $278; Association covers common area maintenance, common area insurance, insurance, structure maintenance, sewer, snow removal, trash, and water

Exterior

• Parking: Assigned parking (one space), no garage
• Utilities: Public water connected; Sewer connected; Circuit breaker electric system
• Home design: Single-story home; Resale property; Exterior siding: vinyl and wood; Private road frontage; Property near public transit; Irregular-shaped lot
• Construction: Vinyl siding; Wood siding; Existing construction (previously built)
• Exterior features: Deck; In-ground pool; Tennis court(s); Open deck/porch

Interior

• Kitchen: Dishwasher; Electric oven; Electric range; Microwave; Refrigerator; Garbage disposal; Gas water heater
• Bedrooms: One main-level bedroom
• Flooring: Carpet; Tile; Varies
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Electric heating; Wall cooling unit(s)
• Interior features: Eat-in kitchen; Separate/formal living room; Combined living and dining area; Solid surface counters; Bedroom on main level
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $-42 ($-505/yr) — negative.
• To cash-flow at today's rent, offer at most $142k (5.0% below list).
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $142k (5.0% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 90/100 on livability (#4 in NY, #81 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools D+.
• East Syracuse Minoa Central School District (rural): math 46% / reading 53% proficiency, ranked #379 of 590 in NY (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 58 active listings in the ZIP; solid renter incomes; 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 $1k of loan paydown is wiped out by about $4k 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 21 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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 $107k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $142,465 (5.0% 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. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 1.02% ✓
• Cap rate: 5.96%
• Cash-on-cash: -1.20%
• DSCR: 0.95
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -18.1%
• Equity multiple: 0.36×
• Total profit: $-26,818
• Equity at exit: $22,351

10-year hold

• IRR: -10.2%
• Equity multiple: 0.38×
• Total profit: $-26,185
• Equity at exit: $12,961

Cash invested: $41,972 (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 13057

• Home prices YoY: -11.1%
• Active inventory: 58
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,525 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$120 /mo · $1,443/yr
• Insurance: −$62
• HOA: −$278
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $-42

Break-even live

Break-even rent $1,578

Max offer price $142,465

Occupancy floor 98%

Sensitivity live

Price	-10% $43	-5% $0	+0% $-42	+5% $-85	+10% $-127
Rent	-10% $-163	-5% $-102	+0% $-42	+5% $18	+10% $78
Rate	-1.0pp $33	-0.5pp $-4	base $-42	+0.5pp $-81	+1.0pp $-120

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $278 · $3,336/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $149,900 Active 21 DOM
2. 2026-06-17
   days on market $149,900 Active 20 DOM
3. 2026-06-16
   days on market $149,900 Active 19 DOM
4. 2026-06-15
   days on market $149,900 Active 18 DOM
5. 2026-06-14
   days on market $149,900 Active 16 DOM
6. 2026-06-13
   days on market $149,900 Active 15 DOM
7. 2026-06-10
   days on market $149,900 Active 13 DOM
8. 2026-06-09
   days on market $149,900 Active 12 DOM
9. 2026-06-08
   days on market $149,900 Active 11 DOM
10. 2026-06-07
    days on market $149,900 Active 10 DOM
11. 2026-06-03
    days on market $149,900 Active 6 DOM
12. 2026-06-02
    days on market $149,900 Active 5 DOM
13. 2026-06-01
    days on market $149,900 Active 4 DOM
14. 2026-05-31
    days on market $149,900 Active 3 DOM
15. 2026-05-30
    days on market $149,900 Active 2 DOM
16. 2026-05-28
    listed $149,900 Active
17. 2022-08-05
    soldstatus $107,000
18. 2022-08-03
    soldstatus $107,000 Closed Sale or Rented 602-char remark

    Show marketing remark (602 chars)

    Don't miss out on this 1 bedroom recently updated condo in popular Watertree of Dewitt! Kitchen has beautiful stainless steel appliances, tile floor and newer cabinets with plenty of storage! Bath was updated with new vanity and tub insert! This unit overlooks the woods so you'll enjoy plenty of privacy while enjoying sitting on the balcony! Coin laundry and additional storage unit in the basement! HOA is putting a new pool in and you can enjoy the community center, tennis courts. .. . and maintenance free living!! Make your appointment today!! Please have offers in by 6/12 @ 4 p. m. Thanks!

19. 2022-06-14
    historical Continue to Show- Under Contract 602-char remark

    Show marketing remark (602 chars)

    Don't miss out on this 1 bedroom recently updated condo in popular Watertree of Dewitt! Kitchen has beautiful stainless steel appliances, tile floor and newer cabinets with plenty of storage! Bath was updated with new vanity and tub insert! This unit overlooks the woods so you'll enjoy plenty of privacy while enjoying sitting on the balcony! Coin laundry and additional storage unit in the basement! HOA is putting a new pool in and you can enjoy the community center, tennis courts. .. . and maintenance free living!! Make your appointment today!! Please have offers in by 6/12 @ 4 p. m. Thanks!

20. 2022-06-08
    listed $95,000 Active 602-char remark

    Show marketing remark (602 chars)

    Don't miss out on this 1 bedroom recently updated condo in popular Watertree of Dewitt! Kitchen has beautiful stainless steel appliances, tile floor and newer cabinets with plenty of storage! Bath was updated with new vanity and tub insert! This unit overlooks the woods so you'll enjoy plenty of privacy while enjoying sitting on the balcony! Coin laundry and additional storage unit in the basement! HOA is putting a new pool in and you can enjoy the community center, tennis courts. .. . and maintenance free living!! Make your appointment today!! Please have offers in by 6/12 @ 4 p. m. Thanks!

ⓘ 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: $1,443 · $120/mo
• Projected year-2 tax: $1,988 · $166/mo
• Expected delta: +$545/yr (+$45/mo · 37.8%)

ⓘ 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 · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 100% 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: $18,300
• − Mortgage interest: −$8,397
• − Property taxes: −$1,443
• − Insurance: −$750
• − Repairs & maintenance: −$1,464
• − Management: −$1,464
• − HOA: −$3,336
• − Depreciation: −$4,361
• Taxable loss: −$2,914
• Est. tax savings @ 24.0%: +$699
• After-tax cash flow: $194/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: East Syracuse Minoa Central School District
• NCES district ID: 3609990
• Math proficiency: 46% ▼ -6.00%
• Reading proficiency: 53% ▲ 9.00%
• Median HH income: $55,801
• Composite: 42.9/100
• National rank: #3122
• State rank: #379 of 590 in NY

Livability — East Syracuse

• Score: 90/100
• State rank: #4
• US rank: #81

Category grades

Amenities A+ Commute A+ 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

• County: Onondaga County · 247,257 people
• City population: 14,253
• Metro: Syracuse, NY
• Population (ZIP): 14,253
• Household income: $80,900
• Rent vs Own: 24.0% rent · 76.0% own
• Severe rent burden: 250.0

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 (88%)
• Race & ethnicity: White 88% Two or more races 5% Hispanic / Latino 3% Asian 2% Black 2%
• Common ancestry: Romanian 5% Lithuanian 4% American 3%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 92% English-only · Russian/Polish/Slavic 3% Spanish 1% Other Indo-European 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: ▼ -39.50%
• Current HPI: 316.8595
• 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

+57.8% since first listed

5 events — show timeline

• 2026-05-28 Listed $149,900 CNYIS
• 2022-08-05 Sold (Public Records) $107,000 Public Records
• 2022-08-03 Sold (MLS) $107,000 CNYIS
• 2022-06-14 Contingent — CNYIS
• 2022-06-08 Listed $95,000 CNYIS

Property tax history

+6.4%/yr

Latest (2025): $1,443 · -3.6% YoY. Source: county tax records.