1509 1st North St · Syracuse, NY 13208

$149,900

2 bd · 1.0 ba · 1,252 sqft · SingleFamily public records · 37 Days on market

Built 1840 0.25 ac lot $120/sqft · 22% above area Est $123k · 22% over

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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 +23.7/30.0
• Appreciation +10.0/10.0
• DSCR +7.6/10.0
• 1% rule +5.0/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• ARV discount +0.0/15.0

Listing remarks

Welcome to this 2 bedroom, 1 bath cape owned by the same family for over 60 yrs and well maintained. Located close to everything, close to shopping, highways & getting to downtown Syracuse. Oversized 2 car garage. Double lot and alot of upgrades including new windows on lower level, furnace, A/C, hot water heater, roof, gutters added 2025, remodeled bathroom 2025, & new driveway. Don't miss this one!

Key facts

• Remodeled bathroom
• New driveway
• Double lot

Tags

• DOUBLE LOT
• NEW WINDOWS
• REMODELED BATHROOM
• NEW DRIVEWAY

Property features AI

Exterior

• Parking: Detached heated garage; 2 garage spaces
• Utilities: Public water connected; Sewer connected; Cable available; High-speed internet available; Circuit breaker electrical
• Home design: Single-story home; Resale property
• Construction: Aluminum siding; Asphalt roof; Stone foundation; Existing construction (year built: existing)
• Exterior features: Blacktop driveway; Enclosed porch; Porch; Near public transit; Irregular, residential lot; City street frontage; Windows with energy-efficient features

Interior

• Kitchen: Gas cooktop; Refrigerator; Eat-in kitchen
• Bedrooms: 1 main-level bedroom
• Flooring: Carpet; Hardwood; Vinyl; Varied flooring
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Gas forced-air heating; Central air conditioning
• Interior features: Ceiling fan(s); Eat-in kitchen; Separate/formal living room; Bedroom on main level; Full basement
• Laundry & utility: Washer; Dryer; Main-level laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $284 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $150k).
• Recommended offer: $145k (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: 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: 99 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 76% 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).
• This rent runs 40% of the median local income ($45k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Onondaga County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1840 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 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 1840 — 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 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: 1.00% ✓
• Cap rate: 8.57%
• Cash-on-cash: 8.12%
• DSCR: 1.36
• GRM: 8.3

CMA / ARV

• ARV (median comp): $122,531
• List price: $149,900
• Delta: 22.34%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
928 Kirkpatrick St N	0.56mi	3/1.0 (+1)	1,236 (-1%)	0mo	$145,000	$117	66
2363 Grant Blvd	0.63mi	2/1.0	1,215 (-3%)	5mo	$153,700	$127	61
911 Kirkpatrick St	0.51mi	3/1.0 (+1)	1,248 (-0%)	13mo	$129,900	$104	60
3115 Grant Blvd	0.21mi	3/1.0 (+1)	1,384 (+10%)	12mo	$89,000	$64	57
820 Kirkpatrick St	0.53mi	3/2.0 (+1)	1,248 (-0%)	10mo	$162,400	$130	57
108 High St	0.74mi	3/1.0 (+1)	1,276 (+2%)	8mo	$175,000	$137	50
400 Sunset St	0.53mi	3/1.0 (+1)	1,174 (-6%)	12mo	$55,000	$47	50
407 Pond St	0.73mi	3/1.0 (+1)	1,216 (-3%)	11mo	$70,000	$58	47
117 Lawrence St	0.61mi	3/1.0 (+1)	1,416 (+13%)	6mo	$90,000	$64	40
122 Steuben St	0.68mi	3/1.0 (+1)	1,124 (-10%)	11mo	$70,000	$62	37
736 N Alvord St	0.66mi	3/1.0 (+1)	1,104 (-12%)	9mo	$66,000	$60	36
116 Steuben St	0.69mi	3/1.0 (+1)	1,104 (-12%)	8mo	$90,000	$82	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 30.2%
• Equity multiple: 3.37×
• Total profit: $99,677
• Equity at exit: $135,042

10-year hold

• IRR: 26.1%
• Equity multiple: 7.65×
• Total profit: $279,180
• Equity at exit: $291,223

Cash invested: $41,972 (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 13208

• Home prices YoY: 8.4%
• Active inventory: 99
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,499 high
• Mortgage (P&I): −$786
• Tax from tax record: −$52 /mo · $621/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $284

Break-even live

Break-even rent $1,140

Max offer price $149,900

Occupancy floor 76%

Sensitivity live

Price	-10% $369	-5% $327	+0% $284	+5% $242	+10% $199
Rent	-10% $166	-5% $225	+0% $284	+5% $343	+10% $403
Rate	-1.0pp $360	-0.5pp $322	base $284	+0.5pp $245	+1.0pp $206

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1507 N Salina St Unit 3 Syracuse, NY	3.0	2.0	1030	$1,350	$1.31	44d	1	0.39mi
1132 Wolf St Unit 4 Syracuse, NY	3.0	1.0	1041	$1,350	$1.30	44d	1	0.56mi
286 Ross Park Syracuse, NY	3.0	1.0	1100	$1,500	$1.36	45d	1	0.75mi
100 Buckley Rd Liverpool, NY	1.0–2.0	1.0–2.0	985	$3,850	$3.91	14d	1	0.85mi
807-13 N Salina St Unit 809A Syracuse, NY	2.0	1.0	1020	$1,325	$1.30	44d	1	0.90mi
912 Park St Unit 1 Syracuse, NY	3.0	1.0	1040	$1,200	$1.15	44d	1	0.93mi
721 N Clinton St Unit 105 Syracuse, NY	2.0	2.0	1000	$1,475	$1.48	44d	1	0.97mi
721 N Clinton St Unit 213 Syracuse, NY	2.0	2.0	1000	$1,550	$1.55	44d	1	0.97mi
610 E Division St Unit F2 Syracuse, NY	2.0	1.0	900	$1,150	$1.28	44d	1	1.00mi
210 W Division St Unit 24 Syracuse, NY	2.0	2.0	1200	$1,850	$1.54	22d	1	1.00mi
210 W Division St Unit 87 Syracuse, NY	2.0	2.0	1200	$1,750	$1.46	44d	1	1.02mi
689 N Clinton St Apt 307 Syracuse, NY	1.0	1.5	1100	$1,600	$1.45	44d	1	1.09mi
689 N Clinton St Unit 323 Syracuse, NY	1.0	1.5	960	$1,575	$1.64	22d	1	1.09mi
373 Spencer St Unit 303 Syracuse, NY	2.0	1.5	1085	$1,850	$1.71	44d	1	1.12mi
126 Woodruff Ave Syracuse, NY	3.0	1.0	1200	$1,675	$1.40	44d	1	1.24mi
416 Pearl St Unit 2 Syracuse, NY	3.0	1.0	900	$2,400	$2.67	14d	1	1.44mi
106 Harrington St Syracuse, NY	3.0	1.0	1168	$1,875	$1.61	44d	1	1.48mi

Listing history 17 events

1. 2026-06-18
   status $149,900 Pending 37 DOM
2. 2026-06-18
   days on market $149,900 Active Under Contract 37 DOM
3. 2026-06-17
   days on market $149,900 Active Under Contract 36 DOM
4. 2026-06-16
   days on market $149,900 Active Under Contract 35 DOM
5. 2026-06-15
   statusdays on market $149,900 Active Under Contract 34 DOM
6. 2026-06-14
   days on market $149,900 Active 32 DOM
7. 2026-06-13
   days on market $149,900 Active 31 DOM
8. 2026-06-10
   days on market $149,900 Active 29 DOM
9. 2026-06-09
   days on market $149,900 Active 28 DOM
10. 2026-06-08
    days on market $149,900 Active 27 DOM
11. 2026-06-07
    days on market $149,900 Active 26 DOM
12. 2026-06-05
    days on market $149,900 Active 23 DOM
13. 2026-06-02
    days on market $149,900 Active 21 DOM
14. 2026-06-01
    days on market $149,900 Active 20 DOM
15. 2026-05-31
    days on market $149,900 Active 19 DOM
16. 2026-05-30
    days on market $149,900 Active 18 DOM
17. 2026-05-13
    listed $149,900 Active 415-char remark

ⓘ 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: $621 · $52/mo
• Projected year-2 tax: $1,577 · $131/mo
• Expected delta: +$956/yr (+$80/mo · 154.1%)

ⓘ 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 ≥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: $17,991
• − Mortgage interest: −$8,397
• − Property taxes: −$621
• − Insurance: −$750
• − Repairs & maintenance: −$1,439
• − Management: −$1,439
• − Depreciation: −$4,361
• Taxable income: $985
• Est. tax owed @ 24.0%: −$236
• After-tax cash flow: $3,173/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): 22,993
• Household income: $44,712
• Rent vs Own: 50.8% rent · 49.2% own
• Severe rent burden: 1437.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 46% Black 24% Asian 14% Two or more races 10% Hispanic / Latino 6%
• Hispanic origin (detail): Puerto Rican 4% Dominican 1%
• Common ancestry: Romanian 3% Swedish 3% Italian 1%
• Foreign-born: 22% · Vietnam, Philippines, Canada
• Languages at home: 70% English-only · Spanish 6% Other Asian/Pacific 5% Vietnamese 4%

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: ▲ 30.91%
• Current HPI: 399.3284
• 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

2 events — show timeline

• 2026-06-15 Contingent — CNYIS
• 2026-05-13 Listed $149,900 CNYIS

Property tax history

+0.6%/yr

Latest (2025): $621 · +2.9% YoY. Source: county tax records.