339 W Newell St · Syracuse, NY 13205

$25,000

4 bd · 2.0 ba · 1,981 sqft · MultiFamily public records · 75 Days on market

Built 1915 4,345 sqft lot $13/sqft · 87% below area

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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 +15.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0

Multi-family units

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

Listing remarks MLS

Calling for all fixer uppers, contractors, investors looking for potential positive cash flow. This 2-family is in need of total renovation. There are 2-bedroom in each unit. It's a blank canvas and use your imagination and make your vision and dream come true!

Key facts

• 4,345 sq ft lot
• Built 1915
• Listed 75 days

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $25k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $859/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $25k).
• Recommended offer: $24k (6.0% below list) — sets the bar for market timing.
• Cap rate 88.7% vs local median 8.2% in Syracuse — 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 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: schools D+, 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.
• Market conditions: 67 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($173 loan paydown + $2k 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 $7k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($24k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $23,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% 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 1915 — 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 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?
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: 9.77% ✓
• Cap rate: 88.72%
• Cash-on-cash: 294.37%
• DSCR: 14.10
• GRM: 0.9

CMA / ARV

• ARV (median comp): $188,174
• List price: $25,000
• Delta: -86.71%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
341-43 W Lafayette Ave	0.11mi	4/2.0	2,160 (+9%)	2mo	$121,000	$56	78
180 W Calthrop Ave	0.29mi	4/2.0	2,016 (+2%)	9mo	$111,000	$55	76
3316 S Salina St	0.44mi	4/2.0	2,000 (+1%)	6mo	$85,000	$43	73
222 Hope Ave	0.27mi	4/2.0	2,016 (+2%)	16mo	$85,000	$42	71
2515 Midland Ave	0.18mi	4/2.0	2,208 (+12%)	21mo	$114,000	$52	55
138 W Beard Ave	0.69mi	4/2.0	1,948 (-2%)	12mo	$147,500	$76	55
702 W Colvin St	0.50mi	4/2.0	2,144 (+8%)	14mo	$135,000	$63	52
306 Marguerite Ave	0.49mi	4/2.0	1,847 (-7%)	18mo	$150,000	$81	51
114 W Newell St	0.36mi	4/2.0	2,184 (+10%)	20mo	$85,000	$39	49
125 Forest Ave	0.31mi	5/2.0 (+1)	1,824 (-8%)	22mo	$123,000	$67	49
217-19 Valley Dr	0.53mi	5/3.5 (+1)	2,212 (+12%)	2mo	$240,000	$108	43
115 Fairfield Ave	0.70mi	4/2.0	2,110 (+6%)	16mo	$120,000	$57	43

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

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 18.58×
• Total profit: $123,042
• Equity at exit: $22,522

10-year hold

• IRR: —
• Equity multiple: 40.49×
• Total profit: $276,456
• Equity at exit: $48,570

Cash invested: $7,000 (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 13205

• Home prices YoY: 3.0%
• Active inventory: 67
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $2,442 high
• Mortgage (P&I): −$131
• Tax from tax record: −$71 /mo · $846/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$513
• Net cashflow: $1,717

Break-even live

Break-even rent $268

Max offer price $25,000

Occupancy floor 25%

Sensitivity live

Price	-10% $1,731	-5% $1,724	+0% $1,717	+5% $1,710	+10% $1,703
Rent	-10% $1,524	-5% $1,621	+0% $1,717	+5% $1,814	+10% $1,910
Rate	-1.0pp $1,730	-0.5pp $1,723	base $1,717	+0.5pp $1,711	+1.0pp $1,704

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,442
Total (2 units)			$2,442

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2331 Midland Ave Syracuse, NY	4.0	1.5	1664	$2,300	$1.38	21d	1	0.11mi
147 E Matson Ave Syracuse, NY	3.0	2.5	1421	$2,000	$1.41	21d	1	0.57mi
1330 Midland Ave Syracuse, NY	4.0	1.0	1870	$2,000	$1.07	21d	1	0.60mi
269 W Borden Ave Syracuse, NY	4.0	1.5	1800	$650	$0.36	21d	1	0.66mi
102 Newbury Hollow Ln Syracuse, NY	3.0	2.0	2000	$2,300	$1.15	44d	1	0.83mi
154 Seeley Ave Syracuse, NY	4.0	1.0	1312	$2,100	$1.60	14d	1	1.05mi
259 Robert Dr Syracuse, NY	3.0	1.5	1350	$699	$0.52	44d	1	1.12mi

Listing history 19 events

1. 2026-06-18
   days on market $25,000 Active 75 DOM
2. 2026-06-17
   days on market $25,000 Active 74 DOM
3. 2026-06-16
   days on market $25,000 Active 73 DOM
4. 2026-06-15
   days on market $25,000 Active 72 DOM
5. 2026-06-14
   days on market $25,000 Active 70 DOM
6. 2026-06-13
   days on market $25,000 Active 69 DOM
7. 2026-06-10
   days on market $25,000 Active 67 DOM
8. 2026-06-09
   days on market $25,000 Active 66 DOM
9. 2026-06-08
   days on market $25,000 Active 65 DOM
10. 2026-06-07
    days on market $25,000 Active 64 DOM
11. 2026-06-05
    days on market $25,000 Active 61 DOM
12. 2026-06-02
    days on market $25,000 Active 59 DOM
13. 2026-06-01
    days on market $25,000 Active 58 DOM
14. 2026-05-31
    days on market $25,000 Active 57 DOM
15. 2026-05-30
    days on market $25,000 Active 56 DOM
16. 2026-04-30
    status Active 261-char remark

    Show marketing remark (261 chars)

    Calling for all fixer uppers, contractors, investors looking for potential positive cash flow. This 2-family is in need of total renovation. There are 2-bedroom in each unit. It's a blank canvas and use your imagination and make your vision and dream come true!

17. 2025-12-09
    status Pending 261-char remark

    Show marketing remark (261 chars)

    Calling for all fixer uppers, contractors, investors looking for potential positive cash flow. This 2-family is in need of total renovation. There are 2-bedroom in each unit. It's a blank canvas and use your imagination and make your vision and dream come true!

18. 2025-11-21
    historical Active Under Contract 261-char remark

    Show marketing remark (261 chars)

    Calling for all fixer uppers, contractors, investors looking for potential positive cash flow. This 2-family is in need of total renovation. There are 2-bedroom in each unit. It's a blank canvas and use your imagination and make your vision and dream come true!

19. 2025-11-13
    listed $25,000 Active 261-char remark

    Show marketing remark (261 chars)

    Calling for all fixer uppers, contractors, investors looking for potential positive cash flow. This 2-family is in need of total renovation. There are 2-bedroom in each unit. It's a blank canvas and use your imagination and make your vision and dream come true!

ⓘ 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: $846 · $71/mo
• Projected year-2 tax: $846 · $71/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 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 · 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: $29,304
• − Mortgage interest: −$1,400
• − Property taxes: −$846
• − Insurance: −$125
• − Repairs & maintenance: −$2,344
• − Management: −$2,344
• − Depreciation: −$727
• Taxable income: $21,516
• Est. tax owed @ 24.0%: −$5,164
• After-tax cash flow: $15,442/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: Syracuse City School District
• NCES district ID: 3628590
• Math proficiency: 18% ▼ -5.00%
• Reading proficiency: 26% ▬ 0.00%
• Median HH income: $32,097
• Composite: 17.83/100
• National rank: #9007
• State rank: #590 of 590 in NY

Livability — Syracuse

• Score: 77/100
• State rank: #187
• US rank: #2869

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Syracuse, NY
• City population: 152,627
• Population (ZIP): 18,562

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: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: Black 44% White 37% Two or more races 10% Hispanic / Latino 6% Asian 3%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 2% Italian 2% Swiss 1%
• Foreign-born: 9% · Canada, China, Vietnam
• Languages at home: 87% English-only · Spanish 5% Arabic 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: ▲ 10.12%
• Current HPI: 345.8854
• 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

4 events — show timeline

• 2026-04-30 Relisted — CNYIS
• 2025-12-09 Pending — CNYIS
• 2025-11-21 Contingent — CNYIS
• 2025-11-13 Listed $25,000 CNYIS

Property tax history

-1.4%/yr

Latest (2025): $846 · +0.0% YoY. Source: county tax records.