1117 W Fayette St #115 · Syracuse, NY 13204

$141,900

1 bd · 1.0 ba · 712 sqft · Condo · 9 Days on market

Built 1900 Good condition $199/sqft · 15% below area Est $168k · 15% under $285/mo HOA · 19% of rent

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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 +14.4/15.0
• Cash flow +11.1/30.0
• Appreciation +10.0/10.0
• 1% rule +5.8/10.0
• Rent growth +4.6/5.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• DSCR +3.2/10.0
• Schools +2.3/10.0

Listing remarks

Own Your Future - 1-Bedroom Condominium at The Lofts at 1117 Brand-new, energy-efficient 1-bedroom condominiums located on W. Fayette Street, connecting Tipperary Hill to Downtown Syracuse. This adaptive reuse redevelopment transforms a former warehouse into a modern, all-electric condominium community offering long-term affordability through New York State's AHOP program.

Key facts

• $285 HOA
• Built 1900
• Listed 8 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $142k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-57 ($-689/yr) — negative.
• To cash-flow at today's rent, offer at most $134k (5.9% below list).
• Meets the 1% rule at list price ($2k rent vs $142k).
• Recommended offer: $134k (5.9% below list) — sets the bar for cash-flow.
• Cap rate 5.8% vs local median 7.7% in Syracuse — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 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); Expeditionary Learning Middle School (math 17% / reading 32%, grade F, #611 of 729 statewide, top 88%, 170 students, 76% FRL); Institute of Technology At Syracuse Central (math 87% / reading 92%, grade A+, #265 of 1,100 statewide, top 26%, 581 students, 68% FRL).
• Zoned-school proficiency averages 54% at this address vs 22% district-wide (+32 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.
• Market conditions: Rents rising fast (+8.2%/yr); 201 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• This rent runs 40% of the median local income ($45k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $15k of equity ($981 loan paydown + $14k 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 + 8.0% rent growth), your $40k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $133,590 (5.9% 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 1900 — 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. 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?
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: 1.08% ✓
• Cap rate: 5.81%
• Cash-on-cash: -1.73%
• DSCR: 0.92
• GRM: 7.7

CMA / ARV

• ARV (median comp): $167,667
• List price: $141,900
• Delta: -15.37%
• Verdict: UNDERPRICED
• Comps: 11 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
377 W Onondaga St #306	0.85mi	1/1.0	650 (-9%)	4mo	$95,000	$146	47
102 Charlotte St	1.20mi	1/2.0	726 (+2%)	21mo	$185,000	$255	40
377 W Onondaga St #301	0.85mi	1/1.0	840 (+18%)	3mo	$170,000	$202	38
407 Montrose Ave	1.25mi	2/1.0 (+1)	672 (-6%)	16mo	$175,600	$261	38
407 Ulster St	0.67mi	2/1.5 (+1)	784 (+10%)	13mo	$169,000	$216	34
228 Herriman St	0.68mi	2/1.0 (+1)	768 (+8%)	21mo	$70,000	$91	33
419 Rich St	1.16mi	2/1.0 (+1)	840 (+18%)	4mo	$45,000	$54	32
304 Marcellus St	0.48mi	2/1.0 (+1)	848 (+19%)	19mo	$106,000	$125	31
501 Chester Rd	1.45mi	2/1.0 (+1)	864 (+21%)	6mo	$275,000	$318	30
377 W Onondaga #203 St	0.85mi	1/1.0	830 (+17%)	14mo	$115,000	$139	28
239 Rider Ave	1.26mi	2/1.0 (+1)	880 (+24%)	14mo	$150,000	$170	23
377 W Onondaga St #304	0.85mi	1/1.0	575 (-19%)	22mo	$90,000	$157	22

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 25.2%
• Equity multiple: 3.06×
• Total profit: $81,905
• Equity at exit: $127,835

10-year hold

• IRR: 24.0%
• Equity multiple: 7.66×
• Total profit: $264,492
• Equity at exit: $275,680

Cash invested: $39,732 (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 13204

• Home prices YoY: 31.6%
• Rents YoY: 8.2%
• Active inventory: 201
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,529 high
• Mortgage (P&I): −$744
• Tax est. 1.5%: −$177 /mo · $2,128/yr
• Insurance: −$59
• HOA: −$285
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $-57

Break-even live

Break-even rent $1,602

Max offer price $133,590

Occupancy floor 99%

Sensitivity live

Price	-10% $41	-5% $-8	+0% $-57	+5% $-106	+10% $-155
Rent	-10% $-178	-5% $-118	+0% $-57	+5% $3	+10% $63
Rate	-1.0pp $14	-0.5pp $-21	base $-57	+0.5pp $-94	+1.0pp $-132

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: $35,475
• Closing costs: $4,257
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
538 Erie Blvd W Unit 538-409 Syracuse, NY	1.0	1.0	742	$1,600	$2.16	50d	1	0.55mi
1265 W Genesee St Unit 107 Syracuse, NY	1.0	1.0	700	$975	$1.39	10d	1	0.55mi
227 Kellogg St Apt 1 Syracuse, NY	1.0	1.0	700	$1,200	$1.71	2d	1	0.66mi
324 W Water St Unit 212 Syracuse, NY	—	1.0	590	$1,875	$3.18	10d	1	0.85mi
120 Walton St Syracuse, NY	1.0–2.0	1.0–2.0	825	$2,000	$2.42	0d	2	0.89mi
110 Walton St Unit 303 Syracuse, NY	1.0	1.0	725	$1,700	$2.34	10d	1	0.91mi
110 Walton St Unit 203 Syracuse, NY	1.0	1.0	701	$1,600	$2.28	162d	1	0.91mi
317 S Clinton St Unit 3C/B3 Syracuse, NY	1.0	1.0	700	$1,675	$2.39	154d	1	0.96mi
500 S Salina St Unit 409 Syracuse, NY	1.0	1.0	600	$1,960	$3.27	2d	1	1.00mi
500 S Salina St Unit 904 Syracuse, NY	—	1.0	670	$1,368	$2.04	44d	1	1.00mi
500 S Salina St Apt 406 Syracuse, NY	1.0	1.0	625	$1,507	$2.41	51d	1	1.00mi
500 S Salina St Unit 704 Syracuse, NY	—	1.0	670	$1,368	$2.04	51d	1	1.00mi
500 S Salina St Unit 705 Syracuse, NY	1.0	1.0	590	$1,511	$2.56	10d	1	1.00mi
500 S Salina St Apt 1003 Syracuse, NY	1.0	1.0	565	$1,461	$2.59	0d	1	1.00mi
500 S Salina St Unit 411 Syracuse, NY	1.0	1.0	540	$1,910	$3.54	2d	1	1.00mi
500 S Salina St Unit 711 Syracuse, NY	1.0	1.0	540	$1,900	$3.52	10d	1	1.00mi
500 S Salina St Unit 709 Syracuse, NY	1.0	1.0	600	$2,025	$3.38	10d	1	1.00mi
304 S Salina St Unit 4A Syracuse, NY	1.0	1.0	696	$1,625	$2.33	10d	1	1.00mi
230 W Willow St Unit 208 Syracuse, NY	1.0	1.0	680	$1,595	$2.35	10d	1	1.02mi
230 W Willow St Apt 101 Syracuse, NY	1.0	1.0	600	$1,350	$2.25	10d	1	1.05mi
101 S Salina St Syracuse, NY	1.0–2.0	1.0	650	$1,870	$2.87	1d	14	1.06mi
101 N Salina St Ste 202 Syracuse, NY	1.0	1.0	592	$1,870	$3.16	51d	1	1.06mi
101 N Salina St Unit 136 Syracuse, NY	1.0	1.0	693	$1,850	$2.67	10d	1	1.07mi
101 N Salina St Unit 233 Syracuse, NY	1.0	1.0	605	$1,500	$2.48	7d	1	1.07mi
101 N Salina St Unit 132 Syracuse, NY	1.0	1.0	530	$1,500	$2.83	21d	1	1.07mi
101 N Salina St Unit 131 Syracuse, NY	1.0	1.0	595	$1,775	$2.98	48d	1	1.07mi
101 N Salina St Unit 234 Syracuse, NY	1.0	1.0	585	$1,725	$2.95	48d	1	1.07mi
101 N Salina St Unit 133 Syracuse, NY	1.0	1.0	623	$1,825	$2.93	10d	1	1.07mi
101 N Salina St Unit 232 Syracuse, NY	1.0	1.0	665	$1,600	$2.41	10d	1	1.07mi
101 N Salina St Unit 122 Syracuse, NY	1.0	1.0	601	$1,725	$2.87	2d	1	1.07mi
201 E Jefferson St Syracuse, NY	2.0	1.0	792	$1,654	$2.09	1d	13	1.09mi
1741 W Onondaga St Syracuse, NY	2.0	1.0	750	$1,125	$1.50	1d	2	1.11mi
112 Burt St Unit 1 Syracuse, NY	2.0	1.0	620	$1,650	$2.66	0d	1	1.29mi
420 E Genesee St Syracuse, NY	3.0	1.0–2.0	920	$2,300	$2.50	0d	33	1.30mi
517 N Salina St Unit 4 Syracuse, NY	2.0	1.0	700	$1,050	$1.50	154d	1	1.30mi
60 Presidential Plz Syracuse, NY	1.0–2.0	1.0–1.5	970	$905	$0.93	10d	1	1.46mi

Property features AI

Finance

• HOA & community: Monthly association fee includes common area maintenance and insurance, heat, structural maintenance, reserve fund, sewer, snow removal, trash, and waterPets negotiable

Exterior

• Parking: Open parkingNo garage
• Security: Radon mitigation system
• Utilities: Public waterConnected sewer
• Construction: Asphalt roofBrick, block, and concrete constructionSpray foam insulation
• Exterior features: Irregular lot

Interior

• Kitchen: Dishwasher, electric cooktop, freezer, microwave, refrigerator
• Bedrooms: 1 bedroom on the main level
• Flooring: Carpet, laminate, tile, varied flooring
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Electric ductless heatingDuctless cooling
• Interior features: Accessible elevatorCombined kitchen and family roomQuartz counters
• Laundry & utility: Washer, dryer, electric water heater, tankless water heater

HOA detail $285/mo · $3,420/yr condo

• Likely covers: electric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-11-08
   days on market $141,900 Active 9 DOM
2. 2026-11-07
   days on market $141,900 Active 8 DOM
3. 2026-11-06
   days on market $141,900 Active 7 DOM
4. 2026-11-05
   days on market $141,900 Active 6 DOM
5. 2026-11-04
   days on market $141,900 Active 5 DOM
6. 2026-11-02
   days on market $141,900 Active 3 DOM
7. 2026-11-01
   days on market $141,900 Active 2 DOM
8. 2026-10-30
   pricedays on marketlisting id $141,900 Active 1 DOM
9. 2026-10-29
   days on market $142,400 Active 215 DOM
10. 2026-10-28
    days on market $142,400 Active 214 DOM
11. 2026-10-27
    days on market $142,400 Active 213 DOM
12. 2026-10-26
    days on market $142,400 Active 212 DOM
13. 2026-10-25
    days on market $142,400 Active 211 DOM
14. 2026-10-24
    days on market $142,400 Active 210 DOM
15. 2026-10-23
    days on market $142,400 Active 209 DOM
16. 2026-10-22
    days on market $142,400 Active 208 DOM
17. 2026-10-21
    days on market $142,400 Active 207 DOM
18. 2026-10-20
    days on market $142,400 Active 206 DOM
19. 2026-10-19
    days on market $142,400 Active 205 DOM
20. 2026-10-18
    days on market $142,400 Active 204 DOM
21. 2026-10-17
    days on market $142,400 Active 203 DOM
22. 2026-10-16
    days on market $142,400 Active 202 DOM
23. 2026-10-15
    days on market $142,400 Active 201 DOM
24. 2026-10-14
    days on market $142,400 Active 200 DOM
25. 2026-10-13
    days on market $142,400 Active 199 DOM
26. 2026-10-12
    days on market $142,400 Active 198 DOM
27. 2026-10-11
    days on market $142,400 Active 197 DOM
28. 2026-10-10
    days on market $142,400 Active 196 DOM
29. 2026-10-09
    days on market $142,400 Active 195 DOM
30. 2026-10-08
    days on market $142,400 Active 194 DOM
31. 2026-10-07
    days on market $142,400 Active 193 DOM
32. 2026-10-06
    days on market $142,400 Active 192 DOM
33. 2026-10-05
    days on market $142,400 Active 191 DOM
34. 2026-10-04
    days on market $142,400 Active 190 DOM
35. 2026-10-04
    days on market $142,400 Active 189 DOM
36. 2026-10-02
    days on market $142,400 Active 188 DOM
37. 2026-10-01
    days on market $142,400 Active 187 DOM
38. 2026-09-30
    days on market $142,400 Active 186 DOM
39. 2026-09-29
    days on market $142,400 Active 185 DOM
40. 2026-09-28
    days on market $142,400 Active 184 DOM
41. 2026-09-27
    days on market $142,400 Active 183 DOM
42. 2026-09-26
    days on market $142,400 Active 182 DOM
43. 2026-09-25
    days on market $142,400 Active 181 DOM
44. 2026-09-24
    days on market $142,400 Active 180 DOM
45. 2026-09-24
    days on market $142,400 Active 179 DOM
46. 2026-09-22
    days on market $142,400 Active 178 DOM
47. 2026-09-21
    days on market $142,400 Active 177 DOM
48. 2026-09-20
    days on market $142,400 Active 176 DOM
49. 2026-09-18
    days on market $142,400 Active 174 DOM
50. 2026-09-17
    days on market $142,400 Active 173 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $18,353
• − Mortgage interest: −$7,949
• − Property taxes: −$2,128
• − Insurance: −$710
• − Repairs & maintenance: −$1,468
• − Management: −$1,468
• − HOA: −$3,420
• − Depreciation: −$4,128
• Taxable loss: −$2,918
• Est. tax savings @ 24.0%: +$700
• After-tax cash flow: $11/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.

Condition & rehab AI · 1 photo

Good 80/100 Cosmetic rehab Est. rehab $3,560–$10,680 screening

This modern, energy-efficient 1-bedroom condominium is in excellent condition with minimal maintenance required. It offers a great investment opportunity with potential for both resale and rental value.

Value-add opportunities

• Both Landscaping — Enhances curb appeal and adds value ↑
• Both Interior paint touch-up — Fresh paint can make a home more appealing ↑
• Both Window treatments — Improves aesthetics and energy efficiency ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 23/100

Zoned Schools

Elementary Delaware Primary School F NY #2,098/2,108 Nat'l #40,579/41,679 Middle Syracuse Stem At Blodgett F NY #729/729 Nat'l #13,969/14,009 High Corcoran High School B- NY #842/1,100 Nat'l #3,404/17,239

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

B Composite livability gradescore 77/100

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
• County: Onondaga County · 467,894 people
• City population: 152,627
• Metro: Syracuse, NY
• Population (ZIP): 19,440
• Household income: $45,351
• Rent vs Own: 70.8% rent · 29.2% own
• Severe rent burden: 9% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 47% Black 26% Hispanic / Latino 17% Two or more races 13% Native American 1%
• Hispanic origin (detail): Puerto Rican 12% Cuban 2% Dominican 1%
• Languages at home: 83% English-only · Spanish 11% Russian/Polish/Slavic 3% Arabic 1%

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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: ▲ 100.14%
• Current HPI: 416.7272
• Rent YoY: ▲ 8.24%
• Metro: Syracuse, NY
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

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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

Property features AI

Finance

• HOA & community: Monthly association fee includes common area maintenance and insurance, heat, structural maintenance, reserve fund, sewer, snow removal, trash, and waterPets negotiable

Exterior

• Parking: Open parkingNo garage
• Security: Radon mitigation system
• Utilities: Public waterConnected sewer
• Construction: Asphalt roofBrick, block, and concrete constructionSpray foam insulation
• Exterior features: Irregular lot

Interior

• Kitchen: Dishwasher, electric cooktop, freezer, microwave, refrigerator
• Bedrooms: 1 bedroom on the main level
• Flooring: Carpet, laminate, tile, varied flooring
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Electric ductless heatingDuctless cooling
• Interior features: Accessible elevatorCombined kitchen and family roomQuartz counters
• Laundry & utility: Washer, dryer, electric water heater, tankless water heater

Price history

1 event — show timeline

• 2026-10-30 Listed $141,900 CNYIS