125 Kensington & Lancaster Rd · Syracuse, NY 13210

$309,800

5 bd · 3.0 ba · 1,454 sqft · MultiFamily public records · 34 Days on market

Built 1915 5,280 sqft lot

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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 +24.3/30.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• Rent growth +5.0/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Investor's delight! Prime Location on quiet street. A quick walk to Syracuse University campus or take the bus for free as it stops in front of the house. Plenty of off-street parking. A perfect live in and rent property with a separate entrance for the 1-bedroom apartment. The 4 bedrooms are great S. U. student rentals with full fire sprinkler system throughout the house. Square footage is increased by 700 sq ft as the City of Syracuse approved a 4th bedroom and living room with sprinkler system on the 3rd floor as additional living space. Fully furnished, new vinyl siding, new paint, updated kitchen, new flooring, newer windows, new hot water heater, and the roof is less than 10 years old. Includes free basement laundry! Fabulous income property to add to your portfolio!!

Key facts

• Private entrances
• Renovated bath
• New refrigerator

Tags

• CORNER-UNIT MULTIFAMILY
• PRIVATE ENTRANCES
• STAINLESS STEEL APPLIANCES
• RENOVATED BATH
• NEW REFRIGERATOR
• NEW BASEMENT WASHER DRYER

Property features AI

Finance

• Financial info: Tenant pays all utilities; Operating expenses include rent and trash; Unit 1 currently rents for $2,200 (lease expires July 31, 2026); Unit 2 currently rents for $1,400 (lease expires August 31, 2027)
• HOA & community: Trails/paths nearby

Exterior

• Parking: Gravel parking with two or more spaces
• Utilities: Public water connected; Sewer connected; Circuit breaker electrical service
• Home design: 3 stories; Multifamily property with 2 units; Resale property
• Construction: Vinyl siding; Wood siding; Block foundation; Architectural shingle roof; PEX plumbing; Existing (previously built)
• Exterior features: Balcony; Deck; Corner lot; Rectangular lot; City street frontage

Interior

• Kitchen: Oven/range; Refrigerator; Microwave (in one unit)
• Bedrooms: One unit with 4 bedrooms; One unit with 1 bedroom
• Flooring: Laminate; Resilient flooring; Vinyl; Varied flooring types
• Bathrooms: Two full bathrooms (total in property); Each unit has 1 full bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Attic; Cedar closets; Programmable thermostat
• Laundry & utility: Common area laundry; Gas water heater

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath multifamily listed at $310k.

Deal economics

• At list price, monthly cash flow is $625 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $310k).
• Recommended offer: $301k (3.0% below list) — sets the bar for market timing.

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: 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.
• Zoned schools: Edward Smith K-8 School (math 13% / reading 39%, grade F, #1,816 of 2,108 statewide, top 86%, 710 students, 69% FRL); Expeditionary Learning Middle School (math 17% / reading 32%, grade F, #611 of 729 statewide, top 88%, 170 students, 76% FRL); Nottingham High School (math 75% / reading 77%, grade A-, #616 of 1,100 statewide, top 57%, 1,226 students, 80% FRL) — zoned schools at 75% FRL track the district average.
• Zoned-school proficiency averages 42% at this address vs 22% district-wide (+20 pts) — the actual schools serving this property are materially stronger than the Syracuse City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+11.2%/yr); 58 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• At $3,274/mo this rent would consume 94% of the median local household income ($42k/yr) (locally 2307% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 + 8.0% rent growth), your $87k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($301k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y 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.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $300,506 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.06% ✓
• Cap rate: 8.71%
• Cash-on-cash: 8.65%
• DSCR: 1.38
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 2.0%
• Equity multiple: 1.08×
• Total profit: $6,847
• Equity at exit: $46,192

10-year hold

• IRR: 15.7%
• Equity multiple: 2.56×
• Total profit: $135,721
• Equity at exit: $26,786

Cash invested: $86,744 (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 13210

• Home prices YoY: -9.0%
• Rents YoY: 11.2%
• Active inventory: 58
• Price-to-rent: 20.7×

Monthly cashflow live

• Estimated rent: $3,274 high
• Mortgage (P&I): −$1,625
• Tax from tax record: −$208 /mo · $2,493/yr
• Insurance: −$129
• HOA: −$0
• Vacancy / Maint / Mgmt: −$688
• Net cashflow: $625

Break-even live

Break-even rent $2,483

Max offer price $309,800

Occupancy floor 76%

Sensitivity live

Price	-10% $800	-5% $713	+0% $625	+5% $537	+10% $450
Rent	-10% $366	-5% $496	+0% $625	+5% $754	+10% $884
Rate	-1.0pp $781	-0.5pp $704	base $625	+0.5pp $545	+1.0pp $463

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	1	1	$1,247
1× unit	4	1	$2,027
Total (2 units)			$3,274

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: $77,450
• Closing costs: $9,294
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
922 Westcott St Syracuse, NY	4.0	2.0	1700	$2,000	$1.18	23d	1	0.27mi
822 Westcott St Unit 1 Syracuse, NY	4.0	2.0	941	$575	$0.61	45d	1	0.34mi
135 Lexington Ave Unit 22 Syracuse, NY	5.0	2.0	1150	$2,500	$2.17	45d	1	1.06mi
269 W Borden Ave Syracuse, NY	4.0	1.5	1800	$650	$0.36	23d	1	1.46mi

Listing history 30 events

1. 2026-06-21
   days on market $309,800 Active 34 DOM
2. 2026-06-18
   days on market $309,800 Active 31 DOM
3. 2026-06-17
   days on market $309,800 Active 30 DOM
4. 2026-06-16
   days on market $309,800 Active 29 DOM
5. 2026-06-15
   days on market $309,800 Active 28 DOM
6. 2026-06-14
   days on market $309,800 Active 26 DOM
7. 2026-06-13
   days on market $309,800 Active 25 DOM
8. 2026-06-10
   days on market $309,800 Active 23 DOM
9. 2026-06-09
   days on market $309,800 Active 22 DOM
10. 2026-06-08
    days on market $309,800 Active 21 DOM
11. 2026-06-07
    days on market $309,800 Active 20 DOM
12. 2026-06-05
    days on market $309,800 Active 17 DOM
13. 2026-06-02
    days on market $309,800 Active 15 DOM
14. 2026-06-01
    days on market $309,800 Active 14 DOM
15. 2026-05-31
    days on market $309,800 Active 13 DOM
16. 2026-05-30
    pricedays on market $309,800 Active 12 DOM
17. 2026-05-18
    listed $324,800 Active 986-char remark
18. 2026-05-07
    historical
19. 2026-04-26
    listed $348,700 Active
20. 2024-02-16
    soldstatus $305,000 Closed

    Show marketing remark (784 chars)

    Investor's delight! Prime Location on quiet street. A quick walk to Syracuse University campus or take the bus for free as it stops in front of the house. Plenty of off-street parking. A perfect live in and rent property with a separate entrance for the 1-bedroom apartment. The 4 bedrooms are great S. U. student rentals with full fire sprinkler system throughout the house. Square footage is increased by 700 sq ft as the City of Syracuse approved a 4th bedroom and living room with sprinkler system on the 3rd floor as additional living space. Fully furnished, new vinyl siding, new paint, updated kitchen, new flooring, newer windows, new hot water heater, and the roof is less than 10 years old. Includes free basement laundry! Fabulous income property to add to your portfolio!!

21. 2024-02-14
    soldstatus $305,000
22. 2023-12-17
    historical Continue to Show- Under Contract

    Show marketing remark (784 chars)

    Investor's delight! Prime Location on quiet street. A quick walk to Syracuse University campus or take the bus for free as it stops in front of the house. Plenty of off-street parking. A perfect live in and rent property with a separate entrance for the 1-bedroom apartment. The 4 bedrooms are great S. U. student rentals with full fire sprinkler system throughout the house. Square footage is increased by 700 sq ft as the City of Syracuse approved a 4th bedroom and living room with sprinkler system on the 3rd floor as additional living space. Fully furnished, new vinyl siding, new paint, updated kitchen, new flooring, newer windows, new hot water heater, and the roof is less than 10 years old. Includes free basement laundry! Fabulous income property to add to your portfolio!!

23. 2023-11-17
    status Active

    Show marketing remark (784 chars)

    Investor's delight! Prime Location on quiet street. A quick walk to Syracuse University campus or take the bus for free as it stops in front of the house. Plenty of off-street parking. A perfect live in and rent property with a separate entrance for the 1-bedroom apartment. The 4 bedrooms are great S. U. student rentals with full fire sprinkler system throughout the house. Square footage is increased by 700 sq ft as the City of Syracuse approved a 4th bedroom and living room with sprinkler system on the 3rd floor as additional living space. Fully furnished, new vinyl siding, new paint, updated kitchen, new flooring, newer windows, new hot water heater, and the roof is less than 10 years old. Includes free basement laundry! Fabulous income property to add to your portfolio!!

24. 2023-11-02
    historical Continue to Show- Under Contract

    Show marketing remark (784 chars)

    Investor's delight! Prime Location on quiet street. A quick walk to Syracuse University campus or take the bus for free as it stops in front of the house. Plenty of off-street parking. A perfect live in and rent property with a separate entrance for the 1-bedroom apartment. The 4 bedrooms are great S. U. student rentals with full fire sprinkler system throughout the house. Square footage is increased by 700 sq ft as the City of Syracuse approved a 4th bedroom and living room with sprinkler system on the 3rd floor as additional living space. Fully furnished, new vinyl siding, new paint, updated kitchen, new flooring, newer windows, new hot water heater, and the roof is less than 10 years old. Includes free basement laundry! Fabulous income property to add to your portfolio!!

25. 2023-10-20
    listed $300,000 Active

    Show marketing remark (784 chars)

    Investor's delight! Prime Location on quiet street. A quick walk to Syracuse University campus or take the bus for free as it stops in front of the house. Plenty of off-street parking. A perfect live in and rent property with a separate entrance for the 1-bedroom apartment. The 4 bedrooms are great S. U. student rentals with full fire sprinkler system throughout the house. Square footage is increased by 700 sq ft as the City of Syracuse approved a 4th bedroom and living room with sprinkler system on the 3rd floor as additional living space. Fully furnished, new vinyl siding, new paint, updated kitchen, new flooring, newer windows, new hot water heater, and the roof is less than 10 years old. Includes free basement laundry! Fabulous income property to add to your portfolio!!

26. 2014-09-27
    historical
27. 2014-09-26
    soldstatus $177,000
28. 2014-07-25
    listed $175,000
29. 2006-08-08
    soldstatus $134,500
30. 2003-05-28
    soldstatus $70,000

ⓘ 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: $2,493 · $208/mo
• Projected year-2 tax: $3,864 · $322/mo
• Expected delta: +$1,371/yr (+$114/mo · 55.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,288
• − Mortgage interest: −$17,354
• − Property taxes: −$2,493
• − Insurance: −$1,549
• − Repairs & maintenance: −$3,143
• − Management: −$3,143
• − Depreciation: −$9,012
• Taxable income: $2,594
• Est. tax owed @ 24.0%: −$623
• After-tax cash flow: $6,877/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
• County: Onondaga County · 247,257 people
• City population: 152,627
• Metro: Syracuse, NY
• Population (ZIP): 19,803
• Household income: $41,738
• Rent vs Own: 70.6% rent · 29.4% own
• Severe rent burden: 2307.0

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 58% Black 18% Asian 9% Hispanic / Latino 9% Two or more races 8%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 3% Lithuanian 3% Italian 2%
• Foreign-born: 18% · China, Canada, South Korea
• Languages at home: 78% English-only · Chinese 5% Spanish 4% Other Indo-European 2%

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: ▼ -37.59%
• Current HPI: 378.0277
• Rent YoY: ▲ 11.18%
• 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

+342.6% since first listed

15 events — show timeline

• 2026-05-29 Price Changed $309,800 CNYIS
• 2026-05-18 Listed $324,800 CNYIS
• 2026-05-07 Listing Removed — CNYIS
• 2026-04-26 Listed $348,700 CNYIS
• 2024-02-16 Sold (MLS) $305,000 CNYIS
• 2024-02-14 Sold (Public Records) $305,000 Public Records
• 2023-12-17 Contingent — CNYIS
• 2023-11-17 Relisted — CNYIS
• 2023-11-02 Contingent — CNYIS
• 2023-10-20 Listed $300,000 CNYIS
• 2014-09-27 Listing Removed — CNYIS
• 2014-09-26 Sold (MLS) $177,000 CNYIS
• 2014-07-25 Listed $175,000 CNYIS
• 2006-08-08 Sold (Public Records) $134,500 Public Records
• 2003-05-28 Sold (Public Records) $70,000 Public Records

Property tax history

+1.1%/yr

Latest (2025): $2,493 · -1.6% YoY. Source: county tax records.