127 Merrill St · Syracuse, NY 13208

$169,900

2 bd · 1.0 ba · 1,224 sqft · SingleFamily public records · 6 Days on market

Built 1942 5,480 sqft lot Est $188k · 10% under

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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 +14.8/30.0
• ARV discount +11.9/15.0
• Appreciation +10.0/10.0
• DSCR +4.5/10.0
• Livability +3.9/5.0
• 1% rule +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0

Listing remarks MLS

This Northside home has been maintained and updated with love for many years. Featuring three bedrooms of which one is a large suite on the upper level. This home has a detached large garage with a bonus carport for an extra car, a loft and workshop. Professionally cleaned and sanitized this week and is ready for its new owner.

Key facts

• Large living room
• Finished basement
• Enclosed front porch

Tags

• ENCLOSED FRONT PORCH
• LARGE LIVING ROOM
• BRIGHT EAT-IN KITCHEN
• ORIGINAL HARDWOOD FLOORS
• MUD ROOM
• FINISHED BASEMENT

Property features AI

Exterior

• Parking: Detached 1-car garage with garage door opener
• Utilities: Electricity connected (circuit breakers); Public water connected; Sewer connected; Cable available; High-speed internet available
• Home design: Single-story home; Existing (previously built); Main level entry
• Construction: Vinyl siding; Copper plumbing; Asphalt roof; Block foundation
• Exterior features: Enclosed porch; Porch; Awning(s); Blacktop driveway; Fully fenced yard; Private yard; See remarks; Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Gas oven; Gas range; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Hardwood; Vinyl; Varies
• Bathrooms: 1 full bathroom; 1 half bathroom; 1 main-level bathroom
• Heating & cooling: Forced-air gas heating; Window cooling units
• Interior features: Eat-in kitchen; Separate/formal living room; Window treatments; Drapes; Thermal windows; Accessible bedroom; Main level primary
• Laundry & utility: Washer and dryer; Laundry in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $46 ($555/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $140k (17.4% below list).
• Recommended offer: $140k (17.4% below list) — sets the bar for 1% rule.

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: Syracuse Latin School (math 31% / reading 62%, grade D-, #1,262 of 2,108 statewide, top 60%, 642 students, 42% FRL); Grant Middle School (math 5% / reading 19%, grade F, #719 of 729 statewide, top 99%, 608 students, 93% FRL); Institute of Technology At Syracuse Central (math 87% / reading 92%, grade A+, #265 of 1,100 statewide, top 26%, 581 students, 68% FRL).
• Zoned-school proficiency averages 49% at this address vs 22% district-wide (+27 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: 101 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 83% 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).

Forward outlook

• In year one you build about $18k of equity ($1k loan paydown + $17k 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 $48k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y 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 $116k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,416 (17.4% below list)

Questions for the listing agent

1. Built in 1942 — 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 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?
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: 0.83% ✗
• Cap rate: 6.62%
• Cash-on-cash: 1.17%
• DSCR: 1.05
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $188,496
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
211 Merrill St	0.09mi	2/1.0	1,125 (-8%)	3mo	$180,000	$160	80
1108 Wadsworth St	0.28mi	3/1.0 (+1)	1,168 (-5%)	2mo	$165,000	$141	73
121 Englert Ave	0.21mi	3/1.0 (+1)	1,300 (+6%)	4mo	$200,000	$154	72
319 Loma Ave	0.18mi	3/1.0 (+1)	1,152 (-6%)	6mo	$200,000	$174	72
143 Loma Ave	0.41mi	2/1.0	1,260 (+3%)	6mo	$150,000	$119	71
143 Huntley St	0.57mi	2/1.0	1,218 (-0%)	2mo	$97,000	$80	71
2363 Grant Blvd	0.56mi	2/1.0	1,215 (-1%)	5mo	$153,700	$127	68
232 Malverne Dr	0.29mi	3/1.5 (+1)	1,142 (-7%)	1mo	$224,900	$197	68
928 Kirkpatrick St N	0.59mi	3/1.0 (+1)	1,236 (+1%)	1mo	$145,000	$117	66
307 Malverne Dr	0.24mi	2/1.0	1,056 (-14%)	4mo	$170,000	$161	63
203 Brookline Rd	0.66mi	3/1.0 (+1)	1,126 (-8%)	2mo	$190,000	$169	49
164 Berkshire Ave	0.65mi	3/1.0 (+1)	1,073 (-12%)	2mo	$116,900	$109	42

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: 25.1%
• Equity multiple: 3.01×
• Total profit: $95,428
• Equity at exit: $153,059

10-year hold

• IRR: 22.1%
• Equity multiple: 6.86×
• Total profit: $278,613
• Equity at exit: $330,078

Cash invested: $47,572 (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: 101
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,404 high
• Mortgage (P&I): −$891
• Tax from tax record: −$101 /mo · $1,216/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $46

Break-even live

Break-even rent $1,346

Max offer price $169,900

Occupancy floor 92%

Sensitivity live

Price	-10% $142	-5% $94	+0% $46	+5% $-2	+10% $-50
Rent	-10% $-65	-5% $-9	+0% $46	+5% $102	+10% $157
Rate	-1.0pp $132	-0.5pp $89	base $46	+0.5pp $2	+1.0pp $-43

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1140 Wolf St Apt 3 Syracuse, NY	2.0	1.0	800	$1,200	$1.50	45d	1	0.31mi
1132 Wolf St Unit 4 Syracuse, NY	3.0	1.0	1041	$1,350	$1.30	45d	1	0.32mi
286 Ross Park Syracuse, NY	3.0	1.0	1100	$1,500	$1.36	46d	1	0.36mi
106 Harrington St Syracuse, NY	3.0	1.0	1168	$1,875	$1.61	45d	1	0.77mi
2802 Lemoyne Ave Unit 1 Syracuse, NY	3.0	1.0	988	$1,700	$1.72	15d	1	1.02mi
126 Woodruff Ave Syracuse, NY	3.0	1.0	1200	$1,675	$1.40	45d	1	1.09mi
1507 N Salina St Unit 3 Syracuse, NY	3.0	2.0	1030	$1,350	$1.31	45d	1	1.13mi
912 Park St Unit 1 Syracuse, NY	3.0	1.0	1040	$1,200	$1.15	45d	1	1.21mi
100 Buckley Rd Liverpool, NY	1.0–2.0	1.0–2.0	985	$3,850	$3.91	15d	1	1.30mi
610 E Division St Unit F2 Syracuse, NY	2.0	1.0	900	$1,150	$1.28	45d	1	1.37mi
807-13 N Salina St Unit 809A Syracuse, NY	2.0	1.0	1020	$1,325	$1.30	45d	1	1.41mi
746 E Laurel St Unit 2F Syracuse, NY	2.0	1.0	800	$1,100	$1.38	45d	1	1.48mi

Listing history 10 events

1. 2026-06-05
   statusdays on market $169,900 Pending 6 DOM
2. 2026-06-02
   days on market $169,900 Active 4 DOM
3. 2026-06-01
   days on market $169,900 Active 3 DOM
4. 2026-05-31
   days on market $169,900 Active 2 DOM
5. 2026-05-29
   listed $169,900 Active
6. 2021-07-22
   soldstatus $116,000
7. 2021-07-19
   soldstatus $116,000 Closed Sale or Rented 329-char remark

   Show marketing remark (329 chars)

   This Northside home has been maintained and updated with love for many years. Featuring three bedrooms of which one is a large suite on the upper level. This home has a detached large garage with a bonus carport for an extra car, a loft and workshop. Professionally cleaned and sanitized this week and is ready for its new owner.

8. 2021-04-26
   status Under Contract- Do Not Show 329-char remark

   Show marketing remark (329 chars)

   This Northside home has been maintained and updated with love for many years. Featuring three bedrooms of which one is a large suite on the upper level. This home has a detached large garage with a bonus carport for an extra car, a loft and workshop. Professionally cleaned and sanitized this week and is ready for its new owner.

9. 2021-04-23
   listed $85,000 Active 329-char remark

   Show marketing remark (329 chars)

   This Northside home has been maintained and updated with love for many years. Featuring three bedrooms of which one is a large suite on the upper level. This home has a detached large garage with a bonus carport for an extra car, a loft and workshop. Professionally cleaned and sanitized this week and is ready for its new owner.

10. 2001-04-30
    soldstatus $60,000

ⓘ 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: $1,216 · $101/mo
• Projected year-2 tax: $2,043 · $170/mo
• Expected delta: +$828/yr (+$69/mo · 68.1%)

ⓘ 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: $16,850
• − Mortgage interest: −$9,517
• − Property taxes: −$1,216
• − Insurance: −$850
• − Repairs & maintenance: −$1,348
• − Management: −$1,348
• − Depreciation: −$4,943
• Taxable loss: −$2,371
• Est. tax savings @ 24.0%: +$569
• After-tax cash flow: $1,124/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

+183.2% since first listed

6 events — show timeline

• 2026-05-29 Listed $169,900 CNYIS
• 2021-07-22 Sold (Public Records) $116,000 Public Records
• 2021-07-19 Sold (MLS) $116,000 CNYIS
• 2021-04-26 Pending — CNYIS
• 2021-04-23 Listed $85,000 CNYIS
• 2001-04-30 Sold (Public Records) $60,000 Public Records

Property tax history

+0.3%/yr

Latest (2025): $1,216 · +0.0% YoY. Source: county tax records.