114 Freeman Ave, Syracuse, NY, 13209
About This Home
Available on the market for the first time in 40 years, this rare 10-unit portfolio in the heart of the Village of Solvay offers a unique blend of stability and upside for investors. Data in this description pertains to both 114 and 112 Freeman Avenue combined. Consisting of three structures: a 7-unit apartment building, a 2-family multi, and a single-family colonial—all contiguous and sharing off-street parking. Each of the 10 units has separate utilities and a varied mix of sizes (1 one-bedroom, six two-bedroom, two three-bedroom, and one four-bedroom stand-alone home), giving you multiple leasing and marketing strategies. Current rents are below market value, translating into a potential 13% pro forma cap rate—an exceptional value-add play. Located in a tight-knit, lakeside community just minutes from downtown Syracuse, Solvay boasts scenic outdoor amenities, small-town conveniences and attractions, and the benefit of locally controlled, low-cost utilities via municipality-owned Solvay Electric. With strong fundamentals, thoughtful upkeep, and long-term appreciation potential, this property presents a rare opportunity to acquire a performing asset with plenty of room to grow. The hands-on owner of this well-maintained package has 55 years of experience owning and managing over 100 units. He has decided to move on to new projects, presenting an excellent opportunity for the new owner.
Getting Around
Car-Dependent
Some Transit
Somewhat BikeableSchools
Construction
Condition
- Property condition: Resale
- Year built: 1910
Materials
- Roof: Asphalt
- Construction materials: Brick,Frame,Other,Vinyl Siding,Copper Plumbing
Type & Style
- Home type: MultiFamily
- Property subType: Multi Family
Interior
Appliances
- Appliances included: Dishwasher,Electric Oven,Electric Range,Electric Water Heater,Refrigerator
- Laundry features: Common Area,Coin-operated
Basement
- Has basement: Yes
- Basement: Full,Partially Finished
Bedrooms & Bathrooms
- Bedrooms: 10
Features
- Ceiling Fan(s),Cathedral Ceiling(s),Storage
- Window features: Thermal Windows
- Flooring: Carpet,Hardwood,Varies,Vinyl
Heating & Cooling
- Heating features: Zoned,Baseboard,Electric
- Cooling features: Zoned
Interior Area
- Total structure area: 10,928
- Total interior livable area: 10,928 sqft
Property
Details
- Parcel number: 31320101000000060080000000
- Special condition: Standard
Features
- Levels: Two
- Stories: 2
- Exterior features: Blacktop Driveway
Lot
- Lot size: 4,800 sqft
- Features: Near Public Transit,Rectangular,Rectangular Lot,Residential Lot
- Lot size dimensions: 40 x 120
Parking
- Parking features: One Space,No Garage
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Ice Storm
- Strong Wind
- Winter Weather
How This Home’s Risks Compare
FEMA Declared Disasters in Onondaga County and New York
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $7,584 | $91,008 |
| Home Insurance * | $546 | $6,552 |
| Property Taxes | $2,775 | $33,300 |
| Electricity | $1,805 | $21,671 |
| Total | $12,710 | $152,520 |
Income You'd Need if You Spent...
New York FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-05-08 | Listed for sale | $1,450,000 |
| 2026-05-01 | Listing removed | $1,450,000 |
| 2026-01-04 | Listed for sale | $1,450,000 |
| 2026-01-01 | Listing removed | $1,450,000 |
| 2025-12-12 | Price change | $1,450,000 |
| 2025-07-03 | Listed for sale | $1,500,000 |
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