3/2 in Syracuse for 135k

This 3-bedroom, 2-bathroom single-family home is located in Syracuse, NY (13209). Built in 1930 with frame construction, the property has 1,344 sq. ft. of living area and sits on a 0.28-acre lot. The house requires a full rehab to reach toop of the market potential.

Repairs Needed (estimate)

• Cosmetic Update: Full interior gut and modernization required, including new flooring, drywall repair, paint, and fixtures.
• Kitchen & Bath: Complete gut and update of the kitchen and both bathrooms.
• Exterior: Pressure washing and landscaping clean-up.
• Unsure of age for the majors, but we would plan on budgeting for replacement

🟣 Comparable Sales

1. 105 Benoit Dr – 3/1 | 1,044 sf | Sold $270,000 ($259/sf) on 12/04/2025 | 1962 Built | Condition: Fully updated (smaller footprint)
2. 110 Benoit Dr – 3/1 | 1,036 sf | Sold $235,000 ($227/sf) on 08/28/2025 | 1970 Built | Condition: Updated
3. 782 State Fair Blvd – 3/1 | 1,212 sf | Sold $205,000 ($169/sf) on 08/07/2025 | 1934 Built | Condition: Standard
4. 104 Gettman Rd – 3/1 | 1,144 sf | Sold $185,000 ($162/sf) on 12/05/2025 | 1962 Built | Condition: Standard
5. 124 Alhan Pkwy – 3/1 | 1,040 sf | Sold $165,000 ($159/sf) on 08/08/2025 | 1979 Built | Condition: Distressed (pre-rehab comp)

💰 ARV & Rental Analysis

The best comparable is 105 Benoit Dr, a 3-bedroom, 1-bathroom home of a smaller size (1,044 sq. ft.) that sold for $270,000 ($259/sf). Additionally, the sale of 110 Benoit Dr for $235,000 supports this baseline. At 1,344 sq. ft., the 3-bedroom, 2-bathroom subject property is larger and has an additional bathroom, compared to the local 3/1 comparables, supporting an exit value in the mid $200s once full rehabbed.

Estimated ARV: $240,000 – $260,000 +/-

Projected Rent: $1,600 – $1,800/mo +/-