409 Hixson Ave · Syracuse, NY 13206

$149,900

3 bd · 1.5 ba · 1,232 sqft · SingleFamily · 6 Days on market

Built 1930 Fair condition 3,960 sqft lot Est $176k · 15% under

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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 +27.0/30.0
• ARV discount +14.2/15.0
• DSCR +9.3/10.0
• 1% rule +7.3/10.0
• Rent growth +4.0/5.0
• Livability +3.9/5.0
• Condition / age +2.0/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

JUST UNPACK! FRESHLY PAINTED WITH BEAUTIFUL HARDWOODS, NEW BATHROOM ON 1ST FLOOR, 3 BEDROOMS, 1 1/2 BATHS. ALL MECHANICALS UPDATED - WINDOWS, ROOF, FURNACE & CENTRAL AIR. GREAT WORKSHOP ATTACHED TO GARAGE. THIS HOME IS A 10! FANTASTIC WORKSHOP. FRONT & BACK PORCHES

Key facts

• 3,960 sq ft lot
• Garage
• Built 1930

Property features AI

Exterior

• Parking: Detached garage with storage and workshop; Shared driveway
• Utilities: Public water connected; Sewer connected; Cable available; High-speed internet available; Circuit breaker electrical
• Home design: 2-story property; Resale condition
• Construction: Vinyl siding; Wood siding; Blown-in insulation; Block foundation; Asphalt and rolled/hot mop roof; Copper and PEX plumbing
• Exterior features: Blacktop driveway; Covered and open porch

Interior

• Kitchen: Refrigerator; Free-standing range / Gas range / Gas oven; Oven; Range hood; Exhaust fan
• Flooring: Hardwood; Tile; Vinyl; Varies
• Bathrooms: 1 full bathroom; 1 half bathroom; One main-level bathroom
• Heating & cooling: Gas forced-air heating; Central air conditioning
• Interior features: Ceiling fan(s); Separate/formal dining room; Eat-in kitchen; Separate/formal living room; Storage; Natural woodwork; Programmable thermostat; Workshop; Thermal windows
• Laundry & utility: Laundry in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $150k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $419 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).

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: Rents rising fast (+5.8%/yr); 42 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• This rent runs 35% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k 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 + 5.8% rent growth), your $42k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 13y 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 $61k; list at $150k implies a 146% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $149,900

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1930 — 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: 1.23% ✓
• Cap rate: 9.65%
• Cash-on-cash: 11.99%
• DSCR: 1.53
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $176,176
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
409 Hixson Ave	0.00mi	3/1.5	1,232 (0%)	1mo	$155,000	$126	99
302 Melrose Ave	0.14mi	3/1.0	1,184 (-4%)	6mo	$169,000	$143	80
362 Hickok Ave	0.31mi	3/1.0	1,320 (+7%)	3mo	$199,900	$151	69
315 Boyden St	0.23mi	3/1.5	1,400 (+14%)	7mo	$145,000	$104	61
209 Boyden St	0.30mi	3/1.5	1,416 (+15%)	5mo	$178,571	$126	57
206 Sedgwick St	0.53mi	3/2.0	1,368 (+11%)	1mo	$80,000	$58	54
318 Greenway Ave	0.45mi	3/1.5	1,052 (-15%)	5mo	$155,000	$147	50
321 Dewitt St	0.74mi	3/1.5	1,310 (+6%)	6mo	$175,000	$134	50
131 Hazelhurst Ave	0.66mi	4/2.0 (+1)	1,134 (-8%)	7mo	$183,000	$161	43
136 S Collingwood Ave	0.71mi	4/1.0 (+1)	1,344 (+9%)	3mo	$60,236	$45	42
485 Durston Ave	0.71mi	3/2.0	1,398 (+14%)	7mo	$235,000	$168	36
113 Fobes Ave	0.68mi	4/3.0 (+1)	1,080 (-12%)	2mo	$205,000	$190	35

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 · 5.85% rent growth · sell at horizon

5-year hold

• IRR: 4.7%
• Equity multiple: 1.19×
• Total profit: $7,880
• Equity at exit: $22,351

10-year hold

• IRR: 16.6%
• Equity multiple: 2.55×
• Total profit: $65,005
• Equity at exit: $12,961

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 13206

• Home prices YoY: -7.1%
• Rents YoY: 5.8%
• Active inventory: 42
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,842 high
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $419

Break-even live

Break-even rent $1,311

Max offer price $149,900

Occupancy floor 72%

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 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
204 Mariposa St Unit pvt house Syracuse, NY	3.0	1.0	1128	$2,137	$1.89	13d	1	0.08mi
1801 James St #2 Syracuse, NY	3.0	1.0	1244	$1,800	$1.45	13d	1	0.22mi
1618 James St #3 Syracuse, NY	2.0	1.0	1150	$2,200	$1.91	13d	1	0.26mi
117 Edtim Rd Syracuse, NY	1.0–2.0	1.0	545	$1,295	$2.37	13d	1	0.54mi
212 Dorchester Ave Syracuse, NY	1.0–2.0	1.0	640	$1,420	$2.22	13d	15	0.55mi
225 Marlborough Rd Syracuse, NY	2.0	1.0	1040	$1,800	$1.73	13d	1	0.66mi
423 Wendell Ter Syracuse, NY	4.0	1.0	1312	$2,500	$1.91	13d	1	0.72mi
297 Norwood Ave Syracuse, NY	3.0	1.0	1188	$2,050	$1.73	20d	1	0.87mi
126 Woodruff Ave Syracuse, NY	3.0	1.0	1200	$1,675	$1.40	43d	1	0.98mi
205 Beecher St Unit 3 Syracuse, NY	2.0	1.0	815	$1,100	$1.35	43d	1	1.07mi
213 Beattie St Syracuse, NY	2.0	1.0	975	$1,370	$1.41	13d	1	1.08mi
525 Burnet Ave Unit First Floor Syracuse, NY	3.0	1.0	900	$1,650	$1.83	43d	1	1.16mi
746 E Laurel St Unit 2F Syracuse, NY	2.0	1.0	800	$1,100	$1.38	43d	1	1.20mi
746 E Laurel St Unit 1 Syracuse, NY	4.0	2.0	1400	$1,500	$1.07	43d	1	1.20mi
300 University Ave Syracuse, NY	2.0	1.0	1020	$2,150	$2.11	13d	1	1.26mi
118 Niven St Syracuse, NY	3.0	1.0	1150	$1,650	$1.43	20d	1	1.26mi
200 Catherine St Apt 5 Syracuse, NY	2.0	1.0	850	$1,550	$1.82	43d	1	1.33mi
205A Hawley Ave Unit 211C Syracuse, NY	3.0	2.5	1350	$1,675	$1.24	43d	1	1.33mi
205A Hawley Ave Unit 213C Syracuse, NY	3.0	2.5	1350	$1,650	$1.22	43d	1	1.33mi
900 E Fayette St Syracuse, NY	1.0–2.0	1.0	817	$1,995	$2.44	13d	9	1.35mi
917 Madison St #5 Syracuse, NY	2.0	1.0	1000	$1,600	$1.60	43d	1	1.37mi
912 Park St Unit 1 Syracuse, NY	3.0	1.0	1040	$1,200	$1.15	43d	1	1.42mi
131 Dell St Unit 133 DELL Syracuse, NY	4.0	1.0	853	$450	$0.53	43d	1	1.44mi
502 University Ave Syracuse, NY	1.0–2.0	1.0	950	$1,450	$1.53	13d	2	1.45mi
610 E Division St Unit F2 Syracuse, NY	2.0	1.0	900	$1,150	$1.28	43d	1	1.50mi

Listing history 6 events

1. 2026-04-16
   status Pending
2. 2026-04-10
   listed $149,900 Active
3. 2014-11-07
   historical 277-char remark

   Show marketing remark (277 chars)

   JUST UNPACK! FRESHLY PAINTED WITH BEAUTIFUL HARDWOODS, NEW BATHROOM ON 1ST FLOOR, 3 BEDROOMS, 1 1/2 BATHS. ALL MECHANICALS UPDATED - WINDOWS, ROOF, FURNACE & CENTRAL AIR. GREAT WORKSHOP ATTACHED TO GARAGE. THIS HOME IS A 10! FANTASTIC WORKSHOP. FRONT & BACK PORCHES

4. 2014-11-06
   soldstatus $61,000 277-char remark

   Show marketing remark (277 chars)

   JUST UNPACK! FRESHLY PAINTED WITH BEAUTIFUL HARDWOODS, NEW BATHROOM ON 1ST FLOOR, 3 BEDROOMS, 1 1/2 BATHS. ALL MECHANICALS UPDATED - WINDOWS, ROOF, FURNACE & CENTRAL AIR. GREAT WORKSHOP ATTACHED TO GARAGE. THIS HOME IS A 10! FANTASTIC WORKSHOP. FRONT & BACK PORCHES

5. 2014-05-12
   listed $64,900 277-char remark

   Show marketing remark (277 chars)

   JUST UNPACK! FRESHLY PAINTED WITH BEAUTIFUL HARDWOODS, NEW BATHROOM ON 1ST FLOOR, 3 BEDROOMS, 1 1/2 BATHS. ALL MECHANICALS UPDATED - WINDOWS, ROOF, FURNACE & CENTRAL AIR. GREAT WORKSHOP ATTACHED TO GARAGE. THIS HOME IS A 10! FANTASTIC WORKSHOP. FRONT & BACK PORCHES

6. 2013-05-20
   listed $74,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 15 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: $22,106
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$1,768
• − Management: −$1,768
• − Depreciation: −$4,361
• Taxable income: $2,813
• Est. tax owed @ 24.0%: −$675
• After-tax cash flow: $4,357/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.

Condition & rehab AI · 1 photo

Fair 40/100 Moderate rehab

This home requires moderate repairs and maintenance, including exterior siding and roof repair, to improve its condition and value.

Repairs flagged

• Major exterior siding — Visible snow and potential ice dam
• Major roof — No visible damage, but snow suggests potential ice dam
• Major exterior paint — No photos of exterior paint

Value-add opportunities

• Resale exterior siding repair — Improves curb appeal and home value
• Resale roof repair — Prevents water damage and enhances home value
• Resale exterior paint touch-up — Enhances home appearance and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Visible snow and potential ice dam	Major	$15,000–50,000
roof · No visible damage, but snow suggests potential ice dam	Major	$15,000–50,000
exterior paint · No photos of exterior paint	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Resale exterior siding repair — Improves curb appeal and home value ↑
• Resale roof repair — Prevents water damage and enhances home value ↑
• Resale exterior paint touch-up — Enhances home appearance and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 16,245
• Household income: $63,136
• Rent vs Own: 42.5% rent · 57.5% own
• Severe rent burden: 725.0

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 (67%)
• Race & ethnicity: White 67% Black 13% Two or more races 9% Hispanic / Latino 8% Asian 5%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 6% Lithuanian 4% Slovak 2%
• Foreign-born: 8% · Canada, Jamaica, China
• Languages at home: 89% English-only · Spanish 3% Arabic 2% Other Indo-European 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: ▼ -24.60%
• Current HPI: 322.231
• Rent YoY: ▲ 5.85%
• 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

+100.1% since first listed

6 events — show timeline

• 2026-04-16 Pending — CNYIS
• 2026-04-10 Listed $149,900 CNYIS
• 2014-11-07 Listing Removed — CNYIS
• 2014-11-06 Sold (MLS) $61,000 CNYIS
• 2014-05-12 Listed $64,900 CNYIS
• 2013-05-20 Listed $74,900 CNYIS