1501 Burnet Ave · Syracuse, NY 13206

$169,900

4 bd · 3.0 ba · 1,828 sqft · MultiFamily public records · 34 Days on market

Built 1970 6,455 sqft lot Est $172k · at est.

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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
• ARV discount +8.0/15.0
• Rent growth +4.0/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Well maintained three family in Eastwood. 100% occupied with mo / mo tenants with NOI over $15k annually. All utilities included. Two units on main level, one unit with large bathroom in basement unit. Garage is vacant. Contractor owned property has all units updated upon turnovers including New Kitchens, New Bathrooms, LVT flooring, Interior doors, vinyl windows and more. Boiler is 3 years. Hot Water Tank is 2 years. Roof is approx 11 years. Certificate of Compliance delivered at closing.

Key facts

• One car garage
• Strong rental demand
• Light renovation

Tags

• CORNER LOT
• ONE CAR GARAGE
• STRONG RENTAL DEMAND
• LIGHT RENOVATION
• VALUE-ADD OPPORTUNITY

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/3.0-bath units multifamily listed at $170k.

Deal economics

• At list price, monthly cash flow is $3k ($30k/yr) — positive. Per door: $834/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $170k).
• Recommended offer: $165k (3.0% below list) — sets the bar for market timing.
• Cap rate 24.0% 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: Rents rising fast (+5.8%/yr); 43 active listings in the ZIP; 17 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).
• At $4,578/mo this rent would consume 87% of the median local household income ($63k/yr) (locally 725% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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.
• At projected returns (-3.0% appreciation + 5.8% rent growth), your $48k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y 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.

Recommended offer $164,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% 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 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.69% ✓
• Cap rate: 23.96%
• Cash-on-cash: 63.10%
• DSCR: 3.81
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $171,832
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
327 Robinson St	0.39mi	4/2.0	1,935 (+6%)	0mo	$163,000	$84	68
110 Mooney Ave	0.52mi	4/2.0	1,804 (-1%)	13mo	$195,000	$108	59
129-131 Mather St	0.64mi	4/2.0	1,862 (+2%)	11mo	$168,000	$90	54
149-51 Mooney Ave	0.53mi	4/2.0	1,944 (+6%)	9mo	$210,000	$108	54
457-459 Westmoreland Ave	0.70mi	4/2.0	1,887 (+3%)	9mo	$248,000	$131	50
124 Dorothy St	0.66mi	5/2.0 (+1)	1,884 (+3%)	12mo	$162,000	$86	45
400 Stafford Ave	0.44mi	5/2.0 (+1)	1,666 (-9%)	14mo	$151,500	$91	45
807 Burnet Ave	0.69mi	4/2.0	2,016 (+10%)	4mo	$205,000	$102	43
202-204 Stafford Ave	0.72mi	5/2.0 (+1)	1,692 (-7%)	3mo	$283,500	$168	43
357 Elm St	0.71mi	4/2.0	1,713 (-6%)	13mo	$105,000	$61	42
527 Winton St	0.38mi	4/2.0	1,596 (-13%)	20mo	$137,500	$86	40
339 N Beech St	0.58mi	5/2.0 (+1)	2,016 (+10%)	9mo	$190,000	$94	39

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

Projected returns pro-forma

-3.0% appreciation · 5.85% rent growth · sell at horizon

5-year hold

• IRR: 65.3%
• Equity multiple: 4.05×
• Total profit: $145,322
• Equity at exit: $25,333

10-year hold

• IRR: 70.5%
• Equity multiple: 9.21×
• Total profit: $390,569
• Equity at exit: $14,690

Cash invested: $47,572 (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 13206

• Home prices YoY: -7.1%
• Rents YoY: 5.8%
• Active inventory: 43
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $4,578 high
• Mortgage (P&I): −$891
• Tax from tax record: −$153 /mo · $1,841/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$961
• Net cashflow: $2,501

Break-even live

Break-even rent $1,412

Max offer price $169,900

Occupancy floor 40%

Sensitivity live

Price	-10% $2,598	-5% $2,550	+0% $2,501	+5% $2,453	+10% $2,405
Rent	-10% $2,140	-5% $2,321	+0% $2,501	+5% $2,682	+10% $2,863
Rate	-1.0pp $2,587	-0.5pp $2,545	base $2,501	+0.5pp $2,457	+1.0pp $2,413

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	3	$4,578
Total (3 units)			$4,578

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1607 Burnet Ave Unit 1 Syracuse, NY	3.0	1.0	2538	$1,650	$0.65	22d	1	0.14mi
409 Westmoreland Ave Unit 9 Syracuse, NY	3.0	1.0	2480	$2,200	$0.89	44d	1	0.64mi
202 Stafford Ave Syracuse, NY	3.0	1.0	1692	$1,800	$1.06	14d	1	0.71mi
1801 James St #2 Syracuse, NY	3.0	1.0	1244	$1,800	$1.45	14d	1	0.72mi
365 Green St Syracuse, NY	5.0	3.5	2263	$3,300	$1.46	22d	1	0.87mi
1108 Madison St Unit 2 Syracuse, NY	3.0	1.5	1580	$2,080	$1.32	44d	1	0.98mi
205 Fellows Ave Unit 1 Syracuse, NY	3.0	1.0	1638	$1,800	$1.10	22d	1	1.01mi
712 Oak St Syracuse, NY	3.0	1.0	2461	$1,700	$0.69	22d	1	1.07mi
423 Wendell Ter Syracuse, NY	4.0	1.0	1312	$2,500	$1.91	14d	1	1.19mi
501 Clarendon St Syracuse, NY	3.0	1.0	2516	$1,800	$0.72	22d	1	1.24mi
108 Harrington Rd Syracuse, NY	3.0	2.0	1800	$2,600	$1.44	14d	1	1.30mi
205A Hawley Ave Unit 211C Syracuse, NY	3.0	2.5	1350	$1,675	$1.24	44d	1	1.33mi
205A Hawley Ave Unit 213C Syracuse, NY	3.0	2.5	1350	$1,650	$1.22	44d	1	1.33mi
942 Euclid Ave Syracuse, NY	3.0	1.0	2572	$1,800	$0.70	22d	1	1.34mi
746 E Laurel St Unit 1 Syracuse, NY	4.0	2.0	1400	$1,500	$1.07	44d	1	1.39mi
620 Euclid Ave Apt 1 Syracuse, NY	3.0	1.0	1248	$1,700	$1.36	44d	1	1.40mi
922 Westcott St Syracuse, NY	4.0	2.0	1700	$2,000	$1.18	22d	1	1.47mi

Listing history 16 events

1. 2026-05-05
   status Pending
2. 2026-04-15
   historical Active Under Contract
3. 2026-04-01
   listed $169,900 Active
4. 2025-12-14
   historical
5. 2025-12-10
   historical
6. 2025-12-09
   historical
7. 2025-08-19
   price $155,000
8. 2025-08-11
   price $169,000
9. 2025-07-16
   listed $179,000 Active
10. 2024-12-10
    soldstatus $149,000
11. 2024-12-06
    soldstatus $149,000 Closed 494-char remark

    Show marketing remark (494 chars)

    Well maintained three family in Eastwood. 100% occupied with mo / mo tenants with NOI over $15k annually. All utilities included. Two units on main level, one unit with large bathroom in basement unit. Garage is vacant. Contractor owned property has all units updated upon turnovers including New Kitchens, New Bathrooms, LVT flooring, Interior doors, vinyl windows and more. Boiler is 3 years. Hot Water Tank is 2 years. Roof is approx 11 years. Certificate of Compliance delivered at closing.

12. 2024-09-04
    status Pending 494-char remark

    Show marketing remark (494 chars)

    Well maintained three family in Eastwood. 100% occupied with mo / mo tenants with NOI over $15k annually. All utilities included. Two units on main level, one unit with large bathroom in basement unit. Garage is vacant. Contractor owned property has all units updated upon turnovers including New Kitchens, New Bathrooms, LVT flooring, Interior doors, vinyl windows and more. Boiler is 3 years. Hot Water Tank is 2 years. Roof is approx 11 years. Certificate of Compliance delivered at closing.

13. 2024-08-27
    listed $149,000 Active 494-char remark

    Show marketing remark (494 chars)

    Well maintained three family in Eastwood. 100% occupied with mo / mo tenants with NOI over $15k annually. All utilities included. Two units on main level, one unit with large bathroom in basement unit. Garage is vacant. Contractor owned property has all units updated upon turnovers including New Kitchens, New Bathrooms, LVT flooring, Interior doors, vinyl windows and more. Boiler is 3 years. Hot Water Tank is 2 years. Roof is approx 11 years. Certificate of Compliance delivered at closing.

14. 2013-11-26
    soldstatus $44,500
15. 2013-11-25
    soldstatus $44,500
16. 2013-07-25
    listed $49,900

ⓘ 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: $1,841 · $153/mo
• Projected year-2 tax: $2,356 · $196/mo
• Expected delta: +$515/yr (+$43/mo · 28.0%)

ⓘ 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 ≥94°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: $54,936
• − Mortgage interest: −$9,517
• − Property taxes: −$1,841
• − Insurance: −$850
• − Repairs & maintenance: −$4,395
• − Management: −$4,395
• − Depreciation: −$4,943
• Taxable income: $28,996
• Est. tax owed @ 24.0%: −$6,959
• After-tax cash flow: $23,058/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
• County: Onondaga County · 247,257 people
• City population: 152,627
• Metro: Syracuse, NY
• Population (ZIP): 16,245
• Household income: $63,136
• Rent vs Own: 42.5% rent · 57.5% own
• Severe rent burden: 725.0

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 (67%)
• Race & ethnicity: White 67% Black 13% Two or more races 9% Hispanic / Latino 8% Asian 5%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 6% Lithuanian 4% Slovak 2%
• Foreign-born: 8% · Canada, Jamaica, China
• Languages at home: 89% English-only · Spanish 3% Arabic 2% 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: ▼ -24.60%
• Current HPI: 322.231
• Rent YoY: ▲ 5.85%
• 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

+240.5% since first listed

16 events — show timeline

• 2026-05-05 Pending — CNYIS
• 2026-04-15 Contingent — CNYIS
• 2026-04-01 Listed $169,900 CNYIS
• 2025-12-14 Listing Removed — CNYIS
• 2025-12-10 Listing Removed — CNYIS
• 2025-12-09 Listing Removed — CNYIS
• 2025-08-19 Price Changed $155,000 CNYIS
• 2025-08-11 Price Changed $169,000 CNYIS
• 2025-07-16 Listed $179,000 CNYIS
• 2024-12-10 Sold (Public Records) $149,000 Public Records
• 2024-12-06 Sold (MLS) $149,000 CNYIS
• 2024-09-04 Pending — CNYIS
• 2024-08-27 Listed $149,000 CNYIS
• 2013-11-26 Sold (Public Records) $44,500 Public Records
• 2013-11-25 Sold (MLS) $44,500 CNYIS
• 2013-07-25 Listed $49,900 CNYIS

Property tax history

-0.1%/yr

Latest (2025): $1,841 · +0.0% YoY. Source: county tax records.