321 Rich St · Syracuse, NY 13207

$84,900

4 bd · 1.0 ba · 1,420 sqft · SingleFamily public records · 149 Days on market

Built 1900 4,059 sqft lot $60/sqft · 21% below area Est $108k · 21% under ↓ 7% since listing

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment opportunity with current monthly positive cash flow rented at $1350! Updated mechanicals and long term tenants!

Key facts

• 4,059 sq ft lot
• Built 1900
• Listed 149 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $406 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.5% 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: 63 active listings in the ZIP; 13 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $587 of loan paydown is wiped out by about $3k 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 + 3.0% rent growth), your $24k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 149 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $74,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 149 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 2.11% ✓
• Cap rate: 18.54%
• Cash-on-cash: 43.75%
• DSCR: 2.95
• GRM: 4.0

CMA / ARV

• ARV (median comp): $107,535
• List price: $84,900
• Delta: -21.05%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
326 Coolidge Ave	0.19mi	4/1.0	1,578 (+11%)	5mo	$107,000	$68	68
1606 W Colvin St	0.67mi	3/1.0 (-1)	1,344 (-5%)	3mo	$57,000	$42	53
310 Merriman Ave	0.65mi	4/1.5	1,469 (+4%)	11mo	$130,000	$88	52
111 White St	0.28mi	3/2.0 (-1)	1,280 (-10%)	12mo	$170,000	$133	52
108 Congress Ave	0.51mi	4/2.0	1,516 (+7%)	11mo	$44,000	$29	52
172 Parkway Dr	0.57mi	3/1.5 (-1)	1,296 (-9%)	2mo	$165,000	$127	51
972 Bellevue Ave	0.44mi	4/1.5	1,558 (+10%)	13mo	$165,000	$106	51
505 Stinard Ave	0.69mi	4/2.0	1,496 (+5%)	7mo	$242,500	$162	49
440 Gifford St	0.75mi	3/1.5 (-1)	1,400 (-1%)	9mo	$209,000	$149	48
1526 W Colvin St	0.67mi	3/1.5 (-1)	1,368 (-4%)	12mo	$165,000	$121	46
119 Clyde Ave	0.71mi	3/1.0 (-1)	1,296 (-9%)	5mo	$78,000	$60	43
101 Bradley St	0.60mi	4/2.0	1,604 (+13%)	12mo	$99,000	$62	36

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: 13.1%
• Equity multiple: 1.52×
• Total profit: $12,406
• Equity at exit: $12,659

10-year hold

• IRR: 22.1%
• Equity multiple: 2.90×
• Total profit: $45,281
• Equity at exit: $7,341

Cash invested: $23,772 (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 13207

• Home prices YoY: -23.0%
• Active inventory: 63
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,788 high
• Mortgage (P&I): −$445
• Tax from tax record: −$65 /mo · $778/yr
• Insurance: −$35
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $406

Break-even live

Break-even rent $1,273

Max offer price $84,900

Occupancy floor 72%

Sensitivity live

Price	-10% $454	-5% $430	+0% $406	+5% $382	+10% $358
Rent	-10% $265	-5% $336	+0% $406	+5% $477	+10% $548
Rate	-1.0pp $449	-0.5pp $428	base $406	+0.5pp $384	+1.0pp $362

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
318 Kellogg St Unit 1 Syracuse, NY	3.0	1.0	1523	$1,650	$1.08	44d	1	0.41mi
318 Kellogg St Unit 2 Syracuse, NY	3.0	1.0	1523	$1,675	$1.10	44d	1	0.41mi
122 Putnam St Syracuse, NY	3.0	1.0	1064	$2,050	$1.93	21d	1	0.41mi
409 Stolp Ave Syracuse, NY	1.0–3.0	1.0	849	$1,575	$1.86	14d	5	0.55mi
158 Parkway Dr Syracuse, NY	4.0	3.0	1029	$2,250	$2.19	21d	1	0.58mi
1110 Bellevue Ave Syracuse, NY	3.0	1.0	1449	$1,500	$1.04	44d	1	0.62mi
269 W Borden Ave Syracuse, NY	4.0	1.5	1800	$650	$0.36	21d	1	0.68mi
1330 Midland Ave Syracuse, NY	4.0	1.0	1870	$2,000	$1.07	21d	1	0.70mi
315 Grant Ave #17 Syracuse, NY	3.0	2.0	1477	$1,275	$0.86	14d	1	0.77mi
213 Fletcher Ave Unit 2 Syracuse, NY	3.0	1.0	1200	$1,700	$1.42	14d	1	1.24mi
121 Whittier Ave Syracuse, NY	4.0	1.0	1400	$600	$0.43	44d	1	1.28mi
2331 Midland Ave Syracuse, NY	4.0	1.5	1664	$2,300	$1.38	21d	1	1.31mi
349 Bryant Ave Syracuse, NY	3.0	1.5	1500	$2,300	$1.53	14d	1	1.45mi

Listing history 17 events

1. 2026-06-18
   days on market $84,900 Active 149 DOM
2. 2026-06-17
   days on market $84,900 Active 148 DOM
3. 2026-06-16
   days on market $84,900 Active 147 DOM
4. 2026-06-15
   days on market $84,900 Active 146 DOM
5. 2026-06-14
   days on market $84,900 Active 144 DOM
6. 2026-06-13
   days on market $84,900 Active 143 DOM
7. 2026-06-10
   days on market $84,900 Active 141 DOM
8. 2026-06-09
   days on market $84,900 Active 140 DOM
9. 2026-06-08
   days on market $84,900 Active 139 DOM
10. 2026-06-07
    days on market $84,900 Active 138 DOM
11. 2026-06-05
    days on market $84,900 Active 135 DOM
12. 2026-06-02
    days on market $84,900 Active 133 DOM
13. 2026-06-01
    days on market $84,900 Active 132 DOM
14. 2026-05-31
    days on market $84,900 Active 131 DOM
15. 2026-05-30
    days on market $84,900 Active 130 DOM
16. 2026-03-15
    price $84,900 122-char remark

    Show marketing remark (122 chars)

    Investment opportunity with current monthly positive cash flow rented at $1350! Updated mechanicals and long term tenants!

17. 2026-01-20
    listed $90,900 Active 122-char remark

    Show marketing remark (122 chars)

    Investment opportunity with current monthly positive cash flow rented at $1350! Updated mechanicals and long term tenants!

ⓘ 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: $778 · $65/mo
• Projected year-2 tax: $1,106 · $92/mo
• Expected delta: +$329/yr (+$27/mo · 42.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% 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: $21,450
• − Mortgage interest: −$4,756
• − Property taxes: −$778
• − Insurance: −$5,950
• − Repairs & maintenance: −$1,716
• − Management: −$1,716
• − Depreciation: −$2,470
• Taxable income: $4,065
• Est. tax owed @ 24.0%: −$976
• After-tax cash flow: $3,900/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): 12,383

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 0.68)
• Race & ethnicity: White 43% Black 33% Hispanic / Latino 17% Two or more races 11% Native American 1% Asian 1%
• Hispanic origin (detail): Puerto Rican 13% Cuban 1%
• Common ancestry: Romanian 3% Lithuanian 1% Slovak 1%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 89% English-only · Spanish 9% French/Haitian/Cajun 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: ▼ -95.17%
• Current HPI: 318.9257
• 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

-6.6% since first listed

2 events — show timeline

• 2026-03-15 Price Changed $84,900 CNYIS
• 2026-01-20 Listed $90,900 CNYIS

Property tax history

-0.1%/yr

Latest (2025): $778 · +0.0% YoY. Source: county tax records.