653 E Division St · Syracuse, NY 13208

$60,000

3 bd · 1.0 ba · 2,020 sqft · SingleFamily public records · 46 Days on market

Built 1920 4,790 sqft 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0

Listing remarks

3 Bed | 1 Bath | Approx. 2,000 Sq Ft | Value-Add Investment Opportunity Located in the Washington Square neighborhood, this spacious approximately 2,000 square foot property presents a strong value-add opportunity for investors seeking upside through renovation and repositioning. Currently configured as a 3-bedroom, 1-bath home, the generous square footage offers the potential to add an additional bedroom, increasing rental income potential and overall asset value. The property requires rehabilitation, making it ideal for investors looking to implement improvements and maximize returns. Projected market rent estimated at approximately $1,848 per month once renovations are completed, offe

Key facts

• Strong rental demand
• Rehab potential
• Flexible layout

Tags

• WASHINGTON SQUARE NEIGHBORHOOD
• REHAB POTENTIAL
• FLEXIBLE LAYOUT
• STRONG RENTAL DEMAND

🏷️ Possibly a rental listed for sale. The $60,000 price doesn't fit this home's estimated sale value (~$171,700) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 30.0% vs local median 8.2% in Syracuse — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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; 14 comparable units currently listed for rent nearby; rentals lingering (median 44d 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 $2,024/mo this rent would consume 54% of the median local household income ($45k/yr) (locally 1437% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $6k of equity ($415 loan paydown + $6k 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 $17k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y 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 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $58,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 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 1920 — 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: 3.37% ✓
• Cap rate: 30.04%
• Cash-on-cash: 84.80%
• DSCR: 4.77
• GRM: 2.5

CMA / ARV

• ARV (on-the-fly): $171,700
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
809 E Division St	0.17mi	3/3.0	1,884 (-7%)	4mo	$160,000	$85	70
411 S Alvord St	0.22mi	4/1.5 (+1)	2,140 (+6%)	14mo	$35,000	$16	62
1019 Highland St	0.40mi	3/1.0	1,830 (-9%)	8mo	$122,000	$67	60
110 Spring Ln	0.34mi	4/1.5 (+1)	1,830 (-9%)	3mo	$140,000	$77	59
1309 Oak St	0.72mi	4/1.5 (+1)	1,904 (-6%)	0mo	$225,000	$118	49
114 Court	0.71mi	3/1.5	2,080 (+3%)	16mo	$165,000	$79	47
306 Beecher St	0.53mi	3/1.0	1,762 (-13%)	15mo	$120,000	$68	41
230 Whitwell Dr	0.60mi	4/1.5 (+1)	1,840 (-9%)	15mo	$160,000	$87	37
105 Park St	0.73mi	4/1.5 (+1)	1,776 (-12%)	4mo	$195,000	$110	36
101 Park St	0.74mi	4/1.5 (+1)	2,272 (+12%)	3mo	$206,000	$91	35
705 Kirkpatrick St	0.47mi	4/2.5 (+1)	1,818 (-10%)	19mo	$80,000	$44	35
2625 Grant Blvd	0.74mi	4/2.5 (+1)	2,175 (+8%)	10mo	$235,000	$108	33

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: 94.3%
• Equity multiple: 7.45×
• Total profit: $108,317
• Equity at exit: $54,053

10-year hold

• IRR: 89.3%
• Equity multiple: 16.45×
• Total profit: $259,574
• Equity at exit: $116,567

Cash invested: $16,800 (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: 2.5×

Monthly cashflow live

• Estimated rent: $2,024 high
• Mortgage (P&I): −$315
• Tax from tax record: −$72 /mo · $863/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$425
• Net cashflow: $1,187

Break-even live

Break-even rent $521

Max offer price $60,000

Occupancy floor 36%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
746 E Laurel St Unit 1 Syracuse, NY	4.0	2.0	1400	$1,500	$1.07	43d	1	0.34mi
214 1st North St Syracuse, NY	2.0	1.0	2731	$1,100	$0.40	43d	1	0.34mi
210 W Division St Unit 3 Syracuse, NY	2.0	2.0	2800	$3,200	$1.14	43d	1	0.54mi
712 Oak St Syracuse, NY	3.0	1.0	2461	$1,700	$0.69	21d	1	0.67mi
447 E Washington St Syracuse, NY	3.0	1.5	2095	$2,100	$1.00	13d	1	1.01mi
324 W Water St Unit 106 Syracuse, NY	2.0	1.0	1436	$2,095	$1.46	21d	1	1.01mi
319 S Salina St Syracuse, NY	2.0	2.0	1860	$2,000	$1.08	21d	1	1.11mi
321 S Salina St Unit 201 Syracuse, NY	2.0	1.0	1446	$2,450	$1.69	43d	1	1.11mi
321 S Salina St Unit 501 Syracuse, NY	2.0	1.0	1446	$3,000	$2.07	43d	1	1.11mi
317 S Clinton St Unit 4A Syracuse, NY	2.0	1.5	1500	$2,100	$1.40	13d	1	1.11mi
317 S Clinton St Unit 3A Syracuse, NY	2.0	2.0	1500	$2,100	$1.40	43d	1	1.11mi
244 Harding St #46 Syracuse, NY	2.0	1.0	2200	$1,395	$0.63	43d	1	1.19mi
111 E Onondaga St Syracuse, NY	1.0–2.0	1.0–2.0	1150	$3,000	$2.61	21d	5	1.31mi
2340 Court St Syracuse, NY	2.0	1.5	1965	$2,200	$1.12	13d	1	1.49mi

Listing history 10 events

1. 2026-04-13
   status Pending
2. 2026-04-01
   status Active
3. 2026-03-20
   historical Active Under Contract
4. 2026-02-25
   listed $60,000 Active
5. 2021-07-29
   soldstatus $106,000
6. 2020-10-20
   status Active
7. 2020-10-16
   historical
8. 2020-07-21
   status Under Contract- Do Not Show
9. 2020-07-17
   listed $39,900 Active
10. 2018-10-10
    soldstatus $23,600

ⓘ 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: $863 · $72/mo
• Projected year-2 tax: $939 · $78/mo
• Expected delta: +$75/yr (+$6/mo · 8.7%)

ⓘ 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
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,285
• − Mortgage interest: −$3,361
• − Property taxes: −$863
• − Insurance: −$300
• − Repairs & maintenance: −$1,943
• − Management: −$1,943
• − Depreciation: −$1,745
• Taxable income: $14,130
• Est. tax owed @ 24.0%: −$3,391
• After-tax cash flow: $10,855/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

+154.2% since first listed

10 events — show timeline

• 2026-04-13 Pending — CNYIS
• 2026-04-01 Relisted — CNYIS
• 2026-03-20 Contingent — CNYIS
• 2026-02-25 Listed $60,000 CNYIS
• 2021-07-29 Sold (Public Records) $106,000 Public Records
• 2020-10-20 Relisted — CNYIS
• 2020-10-16 Listing Removed — CNYIS
• 2020-07-21 Pending — CNYIS
• 2020-07-17 Listed $39,900 CNYIS
• 2018-10-10 Sold (Public Records) $23,600 Public Records

Property tax history

-0.2%/yr

Latest (2025): $863 · +0.0% YoY. Source: county tax records.