510 Lamson Rd · Meridian, NY 13027

$129,000

2 bd · 1.0 ba · 880 sqft · SingleFamily public records · 8 Days on market

Built 1850 0.34 ac lot

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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 +28.6/30.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 bedroom possible 3 bedroom home located in the Baldwinsville school district. Large eat-in kitchen, and First floor laundry. Tons of potential here, country property, but easy to access highway, 20 minutes to Syracuse.

Key facts

• Open layout
• Refreshed cabinetry
• Outdoor space

Tags

• OPEN LAYOUT
• GRANITE COUNTERTOPS
• REFRESHED CABINETRY
• FIRST-FLOOR LAUNDRY
• TWO FIRST-FLOOR BEDROOMS
• OUTDOOR SPACE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $424 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $129k).

Location & tenants

• Location reads 64/100 on livability (#747 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Baldwinsville Central School District (suburban): math 47% / reading 53% proficiency, ranked #355 of 590 in NY (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: 222 active listings in the ZIP; solid renter incomes; 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 $892 of loan paydown is wiped out by about $4k 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 $36k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 8y 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 $16k; list at $129k implies a 704% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1850 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $129,000

Questions for the listing agent

1. Built in 1850 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
5. 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.
6. 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.
7. 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: 1.31% ✓
• Cap rate: 10.24%
• Cash-on-cash: 14.08%
• DSCR: 1.63
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 4.4%
• Equity multiple: 1.17×
• Total profit: $6,133
• Equity at exit: $19,234

10-year hold

• IRR: 13.9%
• Equity multiple: 2.11×
• Total profit: $40,254
• Equity at exit: $11,154

Cash invested: $36,120 (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 13027

• Active inventory: 222
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,687 medium
• Mortgage (P&I): −$676
• Tax from tax record: −$179 /mo · $2,145/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $424

Break-even live

Break-even rent $1,151

Max offer price $129,000

Occupancy floor 70%

Sensitivity live

Price	-10% $497	-5% $460	+0% $424	+5% $387	+10% $351
Rent	-10% $291	-5% $357	+0% $424	+5% $491	+10% $557
Rate	-1.0pp $489	-0.5pp $457	base $424	+0.5pp $391	+1.0pp $356

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-04-22
   status Pending
2. 2026-04-14
   listed $129,000 Active
3. 2025-11-14
   listed $129,900 Active
4. 2019-03-05
   soldstatus $16,050 Closed Sale or Rented 220-char remark

   Show marketing remark (220 chars)

   2 bedroom possible 3 bedroom home located in the Baldwinsville school district. Large eat-in kitchen, and First floor laundry. Tons of potential here, country property, but easy to access highway, 20 minutes to Syracuse.

5. 2019-02-05
   status Under Contract- Do Not Show 220-char remark

   Show marketing remark (220 chars)

   2 bedroom possible 3 bedroom home located in the Baldwinsville school district. Large eat-in kitchen, and First floor laundry. Tons of potential here, country property, but easy to access highway, 20 minutes to Syracuse.

6. 2019-02-04
   historical Continue to Show- Under Contract 220-char remark

   Show marketing remark (220 chars)

   2 bedroom possible 3 bedroom home located in the Baldwinsville school district. Large eat-in kitchen, and First floor laundry. Tons of potential here, country property, but easy to access highway, 20 minutes to Syracuse.

7. 2019-01-20
   price $14,900 220-char remark

   Show marketing remark (220 chars)

   2 bedroom possible 3 bedroom home located in the Baldwinsville school district. Large eat-in kitchen, and First floor laundry. Tons of potential here, country property, but easy to access highway, 20 minutes to Syracuse.

8. 2018-11-28
   price $19,900 220-char remark

   Show marketing remark (220 chars)

   2 bedroom possible 3 bedroom home located in the Baldwinsville school district. Large eat-in kitchen, and First floor laundry. Tons of potential here, country property, but easy to access highway, 20 minutes to Syracuse.

9. 2018-10-22
   price $24,900 220-char remark

   Show marketing remark (220 chars)

   2 bedroom possible 3 bedroom home located in the Baldwinsville school district. Large eat-in kitchen, and First floor laundry. Tons of potential here, country property, but easy to access highway, 20 minutes to Syracuse.

10. 2018-10-03
    price $29,900 220-char remark

    Show marketing remark (220 chars)

    2 bedroom possible 3 bedroom home located in the Baldwinsville school district. Large eat-in kitchen, and First floor laundry. Tons of potential here, country property, but easy to access highway, 20 minutes to Syracuse.

11. 2018-09-06
    status Active 220-char remark

    Show marketing remark (220 chars)

    2 bedroom possible 3 bedroom home located in the Baldwinsville school district. Large eat-in kitchen, and First floor laundry. Tons of potential here, country property, but easy to access highway, 20 minutes to Syracuse.

12. 2018-09-04
    historical Continue to Show- Under Contract 220-char remark

    Show marketing remark (220 chars)

    2 bedroom possible 3 bedroom home located in the Baldwinsville school district. Large eat-in kitchen, and First floor laundry. Tons of potential here, country property, but easy to access highway, 20 minutes to Syracuse.

13. 2018-08-29
    status Active 220-char remark

    Show marketing remark (220 chars)

    2 bedroom possible 3 bedroom home located in the Baldwinsville school district. Large eat-in kitchen, and First floor laundry. Tons of potential here, country property, but easy to access highway, 20 minutes to Syracuse.

14. 2018-08-24
    historical Continue to Show- Under Contract 220-char remark

    Show marketing remark (220 chars)

    2 bedroom possible 3 bedroom home located in the Baldwinsville school district. Large eat-in kitchen, and First floor laundry. Tons of potential here, country property, but easy to access highway, 20 minutes to Syracuse.

15. 2018-07-18
    listed $34,900 Active 220-char remark

    Show marketing remark (220 chars)

    2 bedroom possible 3 bedroom home located in the Baldwinsville school district. Large eat-in kitchen, and First floor laundry. Tons of potential here, country property, but easy to access highway, 20 minutes to Syracuse.

ⓘ 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: $2,145 · $179/mo
• Projected year-2 tax: $2,162 · $180/mo
• Expected delta: +$18/yr (+$1/mo · 0.8%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,247
• − Mortgage interest: −$7,226
• − Property taxes: −$2,145
• − Insurance: −$645
• − Repairs & maintenance: −$1,620
• − Management: −$1,620
• − Depreciation: −$3,753
• Taxable income: $3,239
• Est. tax owed @ 24.0%: −$777
• After-tax cash flow: $4,310/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: Baldwinsville Central School District
• NCES district ID: 3603870
• Math proficiency: 47% ▼ -11.00%
• Reading proficiency: 53% ▲ 2.00%
• Median HH income: $65,182
• Composite: 44.22/100
• National rank: #2848
• State rank: #355 of 590 in NY

Livability — Meridian

• Score: 64/100
• State rank: #747
• US rank: #14253

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment A+ Housing A+ Health & safety D- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Onondaga County · 247,257 people
• City population: 41
• Metro: Syracuse, NY
• Population (ZIP): 35,088
• Household income: $91,797
• Rent vs Own: 30.9% rent · 69.1% own
• Severe rent burden: 1057.0

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 (89%)
• Race & ethnicity: White 89% Two or more races 6% Hispanic / Latino 4% Black 2% Asian 1%
• Common ancestry: Romanian 6% Lithuanian 5% Subsaharan African 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Other Indo-European 1% Russian/Polish/Slavic 1% Spanish 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: ▼ -204.01%
• Current HPI: 321.8247
• 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

+269.6% since first listed

15 events — show timeline

• 2026-04-22 Pending — CNYIS
• 2026-04-14 Listed $129,000 CNYIS
• 2025-11-14 Listed $129,900 CNYIS
• 2019-03-05 Sold (MLS) $16,050 CNYIS
• 2019-02-05 Pending — CNYIS
• 2019-02-04 Contingent — CNYIS
• 2019-01-20 Price Changed $14,900 CNYIS
• 2018-11-28 Price Changed $19,900 CNYIS
• 2018-10-22 Price Changed $24,900 CNYIS
• 2018-10-03 Price Changed $29,900 CNYIS
• 2018-09-06 Relisted — CNYIS
• 2018-09-04 Contingent — CNYIS
• 2018-08-29 Relisted — CNYIS
• 2018-08-24 Contingent — CNYIS
• 2018-07-18 Listed $34,900 CNYIS

Property tax history

+6.9%/yr

Latest (2025): $2,145 · +1.6% YoY. Source: county tax records.