264 Furman St · Syracuse, NY 13205

$100,000

5 bd · 2.0 ba · 3,644 sqft · SingleFamily public records · 5 Days on market

Built 1920 10,758 sqft lot $27/sqft · 68% below area

---

Why this score? — see what drove the B+ 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0

Listing remarks

This home was once manifestant without a doubt. It needs to be brought back to its original beauty. The living space on the first floor is amazing. The large rooms with hardwood floors and high ceilings are captivating. The pocket doors are stunning, along with the staircase. The home needs work, the kitchen is not in tacked work needs to done to bring the home back. HIGHEST AN BEST BY Monday AT 2:00

Key facts

• Pocket doors
• High ceilings
• Hardwood floors

Tags

• HARDWOOD FLOORS
• HIGH CEILINGS
• POCKET DOORS
• STAIRCASE

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water (connected); Sewer connected
• Home design: 2-story home; Existing construction; Vinyl siding
• Construction: Stone foundation; Vinyl siding
• Exterior features: Blacktop driveway; Near public transit; Rectangular residential lot; City street frontage; Lot dimensions approximately 66 x 163

Interior

• Kitchen: Walk-in pantry
• Bedrooms: Total rooms: 10
• Flooring: Carpet; Hardwood; Tile; Varied flooring
• Bathrooms: Three full bathrooms; One half bathroom; Two main-level bathrooms
• Heating & cooling: Gas forced-air heating; Has heating
• Interior features: Separate/formal dining room; Entrance foyer; Walk-in pantry; Full basement
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $780 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Cap rate 15.7% 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; 1 comparable units currently listed for rent nearby; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($691 loan paydown + $10k 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 $28k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 10y 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $100,000

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.80% ✓
• Cap rate: 15.65%
• Cash-on-cash: 33.43%
• DSCR: 2.49
• GRM: 4.6

CMA / ARV

• ARV (median comp): $311,501
• List price: $100,000
• Delta: -67.90%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 49.8%
• Equity multiple: 4.72×
• Total profit: $104,145
• Equity at exit: $90,088

10-year hold

• IRR: 43.5%
• Equity multiple: 10.56×
• Total profit: $267,611
• Equity at exit: $194,278

Cash invested: $28,000 (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: 4.6×

Monthly cashflow live

• Estimated rent: $1,800 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$76 /mo · $910/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $780

Break-even live

Break-even rent $813

Max offer price $100,000

Occupancy floor 52%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
367 Furman St Unit 1 Syracuse, NY	5.0	1.0	3138	$1,800	$0.57	21d	1	0.17mi

Listing history 7 events

1. 2026-05-18
   status Pending 403-char remark
2. 2026-05-13
   listed $100,000 Active 403-char remark
3. 2017-04-03
   historical
4. 2017-01-19
   listed $35,000 Active
5. 2016-05-02
   historical
6. 2016-05-02
   historical Under Contract- Do Not Show
7. 2016-04-21
   listed $35,000 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: $910 · $76/mo
• Projected year-2 tax: $1,300 · $108/mo
• Expected delta: +$390/yr (+$33/mo · 42.9%)

ⓘ 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: $21,600
• − Mortgage interest: −$5,602
• − Property taxes: −$910
• − Insurance: −$500
• − Repairs & maintenance: −$1,728
• − Management: −$1,728
• − Depreciation: −$2,909
• Taxable income: $8,223
• Est. tax owed @ 24.0%: −$1,974
• After-tax cash flow: $7,388/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

+185.7% since first listed

7 events — show timeline

• 2026-05-18 Pending — CNYIS
• 2026-05-13 Listed $100,000 CNYIS
• 2017-04-03 Listing Removed — CNYIS
• 2017-01-19 Listed $35,000 CNYIS
• 2016-05-02 Listing Removed — CNYIS
• 2016-05-02 Contingent — CNYIS
• 2016-04-21 Listed $35,000 CNYIS

Property tax history

-0.6%/yr

Latest (2025): $910 · +5.4% YoY. Source: county tax records.