811 1st North St · Syracuse, NY 13208

$149,900

2 bd · 2.0 ba · 1,315 sqft · MultiFamily public records · 81 Days on market

Built 1910 2,888 sqft lot Est $122k · 23% over

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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
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Welcome to 811 1st North Street in Syracuse — a beautifully updated duplex offering an excellent source of passive income. The lower unit features 2 bedrooms and 1 bath rented at $1,300, while the upper unit offers a spacious 1-bedroom layout currently rented at $850 per month. Both units shine with brand-new vinyl windows, fresh flooring, and modern paint throughout. Clean, bright, and move-in ready, this property combines comfort and a convenient location.

Key facts

• Fresh flooring
• Move-in ready
• Modern paint

Tags

• UPDATED DUPLEX
• BRAND-NEW VINYL WINDOWS
• FRESH FLOORING
• MODERN PAINT
• MOVE-IN READY
• CONVENIENT LOCATION

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $845/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Recommended offer: $141k (6.0% 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: Franklin Elementary School (math 9% / reading 18%, grade F, #2,045 of 2,108 statewide, top 97%, 667 students, 93% 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 38% at this address vs 22% district-wide (+16 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; 26 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% 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 $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 ~2 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 81 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $150k implies a 650% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 2.23% ✓
• Cap rate: 19.82%
• Cash-on-cash: 48.32%
• DSCR: 3.15
• GRM: 3.7

CMA / ARV

• ARV (on-the-fly): $122,295
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
908 Kirkpatrick St	0.15mi	2/2.0	1,128 (-14%)	17mo	$105,000	$93	55
111 6th North St	0.74mi	2/2.0	1,261 (-4%)	5mo	$156,000	$124	54
1112 Butternut St	0.51mi	2/2.0	1,140 (-13%)	18mo	$104,900	$92	38

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: 62.2%
• Equity multiple: 5.51×
• Total profit: $189,281
• Equity at exit: $135,042

10-year hold

• IRR: 55.7%
• Equity multiple: 12.26×
• Total profit: $472,758
• 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: 101
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $3,350 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$108 /mo · $1,295/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$704
• Net cashflow: $1,690

Break-even live

Break-even rent $1,211

Max offer price $149,900

Occupancy floor 45%

Sensitivity live

Price	-10% $1,775	-5% $1,732	+0% $1,690	+5% $1,648	+10% $1,605
Rent	-10% $1,425	-5% $1,558	+0% $1,690	+5% $1,822	+10% $1,955
Rate	-1.0pp $1,766	-0.5pp $1,728	base $1,690	+0.5pp $1,651	+1.0pp $1,612

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,350
Total (2 units)			$3,350

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 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
912 Park St Unit 1 Syracuse, NY	3.0	1.0	1040	$1,200	$1.15	45d	1	0.41mi
610 E Division St Unit F2 Syracuse, NY	2.0	1.0	900	$1,150	$1.28	45d	1	0.54mi
286 Ross Park Syracuse, NY	3.0	1.0	1100	$1,500	$1.36	46d	1	0.55mi
807-13 N Salina St Unit 809A Syracuse, NY	2.0	1.0	1020	$1,325	$1.30	45d	1	0.59mi
1507 N Salina St Unit 3 Syracuse, NY	3.0	2.0	1030	$1,350	$1.31	45d	1	0.60mi
126 Woodruff Ave Syracuse, NY	3.0	1.0	1200	$1,675	$1.40	45d	1	0.69mi
721 N Clinton St Unit 105 Syracuse, NY	2.0	2.0	1000	$1,475	$1.48	45d	1	0.77mi
721 N Clinton St Unit 213 Syracuse, NY	2.0	2.0	1000	$1,550	$1.55	45d	1	0.77mi
210 W Division St Unit 24 Syracuse, NY	2.0	2.0	1200	$1,850	$1.54	23d	1	0.79mi
210 W Division St Unit 87 Syracuse, NY	2.0	2.0	1200	$1,750	$1.46	45d	1	0.81mi
1132 Wolf St Unit 4 Syracuse, NY	3.0	1.0	1041	$1,350	$1.30	45d	1	0.82mi
689 N Clinton St Unit 323 Syracuse, NY	1.0	1.5	960	$1,575	$1.64	23d	1	0.84mi
689 N Clinton St Apt 307 Syracuse, NY	1.0	1.5	1100	$1,600	$1.45	45d	1	0.84mi
373 Spencer St Unit 303 Syracuse, NY	2.0	1.5	1085	$1,850	$1.71	45d	1	1.02mi
416 Pearl St Unit 2 Syracuse, NY	3.0	1.0	900	$2,400	$2.67	15d	1	1.07mi
412 Delmar Pl Syracuse, NY	1.0	1.0	1827	$1,000	$0.55	23d	1	1.19mi
230 W Willow St Apt 310 Syracuse, NY	1.0	1.0	933	$1,600	$1.71	15d	1	1.20mi
205A Hawley Ave Unit 211C Syracuse, NY	3.0	2.5	1350	$1,675	$1.24	45d	1	1.21mi
205A Hawley Ave Unit 213C Syracuse, NY	3.0	2.5	1350	$1,650	$1.22	45d	1	1.21mi
208 W Water St Syracuse, NY	2.0	2.0	962	$1,800	$1.87	45d	1	1.34mi
324 W Water St Unit 106 Syracuse, NY	2.0	1.0	1436	$2,095	$1.46	23d	1	1.38mi
324 W Water St Syracuse, NY	2.0	1.0	1007	$1,975	$1.96	15d	6	1.38mi
525 Burnet Ave Unit First Floor Syracuse, NY	3.0	1.0	900	$1,650	$1.83	45d	1	1.39mi
1618 James St #3 Syracuse, NY	2.0	1.0	1150	$2,200	$1.91	15d	1	1.39mi
100 Buckley Rd Liverpool, NY	1.0–2.0	1.0–2.0	985	$3,850	$3.91	15d	1	1.43mi
129 W Fayette St Unit 217 Syracuse, NY	2.0	2.0	1100	$1,550	$1.41	15d	1	1.48mi

Listing history 11 events

1. 2026-01-27
   status Pending
2. 2025-12-17
   price $149,900
3. 2025-11-07
   listed $159,900 Active
4. 2025-01-20
   listed $179,999 Active
5. 2023-10-04
   historical Continue to Show- Under Contract
6. 2023-09-30
   listed $299,900 Active
7. 2014-03-04
   soldstatus $20,000
8. 2014-01-17
   historical
9. 2013-07-07
   listed $39,900
10. 2004-05-18
    soldstatus $15,000
11. 2004-01-29
    soldstatus $39,266

ⓘ 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: $1,295 · $108/mo
• Projected year-2 tax: $1,914 · $160/mo
• Expected delta: +$619/yr (+$52/mo · 47.8%)

ⓘ 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: $40,200
• − Mortgage interest: −$8,397
• − Property taxes: −$1,295
• − Insurance: −$750
• − Repairs & maintenance: −$3,216
• − Management: −$3,216
• − Depreciation: −$4,361
• Taxable income: $18,966
• Est. tax owed @ 24.0%: −$4,552
• After-tax cash flow: $15,729/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

+281.8% since first listed

11 events — show timeline

• 2026-01-27 Pending — CNYIS
• 2025-12-17 Price Changed $149,900 CNYIS
• 2025-11-07 Listed $159,900 CNYIS
• 2025-01-20 Listed $179,999 CNYIS
• 2023-10-04 Contingent — CNYIS
• 2023-09-30 Listed $299,900 CNYIS
• 2014-03-04 Sold (Public Records) $20,000 Public Records
• 2014-01-17 Listing Removed — CNYIS
• 2013-07-07 Listed $39,900 CNYIS
• 2004-05-18 Sold (Public Records) $15,000 Public Records
• 2004-01-29 Sold (Public Records) $39,266 Public Records

Property tax history

+0.9%/yr

Latest (2025): $1,295 · +0.0% YoY. Source: county tax records.