224 E 1st St · East Syracuse, NY 13057

$189,900

3 bd · 1.0 ba · 1,408 sqft · SingleFamily public records · 1 Days on market

Built 1910 6,534 sqft lot Est $173k · 10% over

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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 +20.5/30.0
• 1% rule +7.0/10.0
• DSCR +6.5/10.0
• Livability +4.5/5.0
• Schools +4.3/10.0
• ARV discount +3.2/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this adorable two-story home located in ESM School district. Prepare to be impressed as this home boasts an amazing amount of upgrades that will exceed your expectations. Starting with a brand new roof, this house ensures worry-free living for years to come. Step inside and be greeted by the sleek and modern feel of the updated interior. The upgraded kitchen with beautiful granite countertops and plenty of cabinet space. The remodeled bathroom, new luxury vinyl flooring which adds elegance and durability to the living spaces are a few more of the upgrades. Whether you're hosting gatherings or enjoying a quiet evening with family, this home provides the perfect backdrop for making lasting memories. What sets this property apart is the meticulous care it has received. You'll be able to enjoy the benefits of all the hard work put into this property without any additional stress or expenses. The large backyard and newer deck is great for entertaining. New lighting, doors, upgraded electrical and the list goes on. Schedule a showing today and experience the beauty this meticulously cared for home has to offer. Delayed showings begin 05/25/23 @9a. m.

Key facts

• Large deck
• First floor laundry
• Upgraded kitchen

Tags

• UPGRADED KITCHEN
• NEW STORAGE BARN
• NEW FULL BATHROOM
• SPACIOUS LIVING ROOM
• FIRST FLOOR LAUNDRY
• LARGE DECK

Property features AI

Exterior

• Parking: No garage; Driveway parking
• Utilities: High-speed internet available; Public water (connected); Sewer connected; Circuit breaker electric
• Home design: 2-story home; Existing (resale) property
• Construction: Shake siding; Copper plumbing; Stone foundation; Asphalt/membrane/rubber/shingle roof
• Exterior features: Blacktop driveway; City street frontage; Near public transit; Rectangular residential lot (approx. 50 x 127)

Interior

• Kitchen: Gas oven and gas range; Range hood; Disposal; Granite counters; Refrigerator; Exhaust fan
• Bedrooms: 1 main-level bedroom
• Flooring: Carpet; Luxury vinyl; Varied flooring
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Gas forced-air heating; Window air conditioning units
• Interior features: Ceiling fans; Eat-in kitchen; Separate/formal living room; Granite counters; Main level primary bedroom
• Laundry & utility: Main-level laundry; Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $195 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).

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; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• This rent runs 34% of the median local income ($81k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y 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 $160k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; flood insurance adds $56/mo; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $189,900

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.20% ✓
• Cap rate: 7.87%
• Cash-on-cash: 5.65%
• DSCR: 1.25
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $173,184
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
205 Hartwell Ave	0.17mi	3/1.0	1,383 (-2%)	10mo	$85,000	$61	80
108 Upton St	0.19mi	3/1.5	1,518 (+8%)	2mo	$160,000	$105	75
404 Mccool Ave	0.30mi	3/1.5	1,407 (-0%)	14mo	$187,000	$133	72
403 E Heman St	0.27mi	3/1.0	1,328 (-6%)	8mo	$163,000	$123	72
120 W Irving St	0.50mi	3/1.0	1,341 (-5%)	12mo	$163,000	$122	59
202 Hartwell Ave	0.16mi	3/1.0	1,198 (-15%)	11mo	$161,000	$134	58
109 Mosher St	0.35mi	3/2.0	1,240 (-12%)	4mo	$235,000	$190	56
514 Mccool Ave	0.47mi	3/1.0	1,530 (+9%)	9mo	$215,000	$141	56
220 W Ellis St	0.51mi	3/1.0	1,228 (-13%)	5mo	$66,500	$54	51
162 James Street Mnr	0.51mi	3/2.0	1,287 (-9%)	12mo	$300,000	$233	48
104 E Irving St	0.41mi	3/1.5	1,216 (-14%)	11mo	$150,000	$123	47
119 W Heman St	0.44mi	3/1.5	1,616 (+15%)	13mo	$95,000	$59	42

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -9.3%
• Equity multiple: 0.66×
• Total profit: $-18,151
• Equity at exit: $28,315

10-year hold

• IRR: 0.3%
• Equity multiple: 1.02×
• Total profit: $1,050
• Equity at exit: $16,419

Cash invested: $53,172 (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: 6.9×

Monthly cashflow live

• Estimated rent: $2,284 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$479 /mo · $5,753/yr
• Insurance: −$79
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$480
• Net cashflow: $195

Break-even live

Break-even rent $2,038

Max offer price $189,900

Occupancy floor 86%

Sensitivity live

Price	-10% $302	-5% $249	+0% $195	+5% $141	+10% $87
Rent	-10% $14	-5% $105	+0% $195	+5% $285	+10% $375
Rate	-1.0pp $290	-0.5pp $243	base $195	+0.5pp $146	+1.0pp $95

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
99 Alpine Dr Unit 107-2 Syracuse, NY	3.0	1.0	1100	$1,700	$1.55	44d	1	0.97mi
116 Stillwater Dr East Syracuse, NY	3.0	2.5	1692	$3,000	$1.77	22d	1	1.00mi
6463 Wells Dr Unit 6465 East Syracuse, NY	3.0	2.0	1519	$1,800	$1.18	22d	1	1.47mi

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $189,900 Active 1 DOM

ⓘ 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: $5,753 · $479/mo
• Projected year-2 tax: $5,753 · $479/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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°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: $27,412
• − Mortgage interest: −$10,637
• − Property taxes: −$5,753
• − Insurance: −$1,616
• − Repairs & maintenance: −$2,193
• − Management: −$2,193
• − Depreciation: −$5,524
• Taxable loss: −$504
• Est. tax savings @ 24.0%: +$121
• After-tax cash flow: $2,458/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

• Census place: East Syracuse, NY
• 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

+725.7% since first listed

9 events — show timeline

• 2026-06-18 Listed $189,900 CNYIS
• 2023-07-03 Sold (Public Records) $160,000 Public Records
• 2023-06-30 Sold (MLS) $160,000 CNYIS
• 2023-06-15 Pending — CNYIS
• 2023-05-28 Contingent — CNYIS
• 2023-05-24 Listed $159,000 CNYIS
• 2020-11-16 Sold (Public Records) $48,000 Public Records
• 2003-05-01 Sold (Public Records) $47,000 Public Records
• 2002-09-09 Sold (Public Records) $23,000 Public Records

Property tax history

+8.4%/yr

Latest (2025): $5,753 · +31.0% YoY. Source: county tax records.