600 2nd St · Liverpool, NY 13088

$153,900

4 bd · 2.0 ba · 1,714 sqft · MultiFamily public records · 13 Days on market

Built 1850 8,712 sqft lot Est $159k · at est.

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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
• ARV discount +9.1/15.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

IMPRESSIVE "LIVERPOOL VILLAGE" LOCATION! Fantastic Opportunity with this Ready to Rent Liverpool Village "INCOME PROPERTY"= Brick 2-Family Home! Rent right away, or improve home to Increase Rental Potential of this Home! 1st Floor= White Kitchen w/ Gas Stove + Range Hood + Refrigerator + Full Bath + Spacious Living Room + Large Bedrooms all w/ Carpeting! 2nd Floor= Eat in Kitchen w/ Gas Range + Refrigerator + Range Hood + Ceramic Flooring+Full Bath w/ Newer Tub Surrounds! Large Livingroom + two Bedrooms all w/ Carpeting! $AVE= Two New Bradford Hot Water Heaters + Newer Goodman furnace! Walking Distance to Onondaga Lake Parkway + Eateries + Library + Bars! Amazing Opportunity! * !

Key facts

• Blank slate
• New entry doors
• Corner lot

Tags

• MULTI UNIT BRICK HOME
• CORNER LOT
• 6 PAVED PARKING SPOTS
• BLANK SLATE
• NEW WINDOWS
• NEW ENTRY DOORS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $154k.

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 ($3k rent vs $154k).
• Cap rate 15.2% vs local median 5.0% in Liverpool — 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 86/100 on livability (#16 in NY, #363 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+.
• Liverpool Central School District (suburban): math 49% / reading 49% proficiency, ranked #381 of 590 in NY (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 68 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 + 3.0% rent growth), your $43k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 8y 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 $83k; list at $154k implies a 85% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.4% of price; built in 1850 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $153,900

Questions for the listing agent

1. Built in 1850 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 2.11% ✓
• Cap rate: 15.16%
• Cash-on-cash: 31.66%
• DSCR: 2.41
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $159,402
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
811 Oswego St	0.27mi	3/3.0 (-1)	1,596 (-7%)	1mo	$148,000	$93	66

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.7%
• Equity multiple: 2.11×
• Total profit: $47,749
• Equity at exit: $22,947

10-year hold

• IRR: 34.3%
• Equity multiple: 4.15×
• Total profit: $135,936
• Equity at exit: $13,306

Cash invested: $43,092 (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 13088

• Active inventory: 68
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $3,249 high
• Mortgage (P&I): −$807
• Tax from tax record: −$559 /mo · $6,703/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$682
• Net cashflow: $1,137

Break-even live

Break-even rent $1,810

Max offer price $153,900

Occupancy floor 60%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,248
Total (2 units)			$3,249

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: $38,475
• Closing costs: $4,617
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
108 Parker Ave Liverpool, NY	4.0	1.0	1152	$1,875	$1.63	43d	1	0.79mi
368 Electronics Pkwy Unit 368D Liverpool, NY	3.0	2.0	1242	$1,600	$1.29	43d	1	1.21mi

Listing history 16 events

1. 2025-12-19
   status Pending
2. 2025-12-17
   status Active
3. 2025-09-15
   status Pending
4. 2025-09-04
   listed $153,900 Active
5. 2025-06-18
   soldstatus $83,210
6. 2018-11-16
   soldstatus $83,210
7. 2018-11-15
   soldstatus $78,500 Closed Sale or Rented 708-char remark

   Show marketing remark (708 chars)

   IMPRESSIVE "LIVERPOOL VILLAGE" LOCATION! Fantastic Opportunity with this Ready to Rent Liverpool Village "INCOME PROPERTY"= Brick 2-Family Home! Rent right away, or improve home to Increase Rental Potential of this Home! 1st Floor= White Kitchen w/ Gas Stove + Range Hood + Refrigerator + Full Bath + Spacious Living Room + Large Bedrooms all w/ Carpeting! 2nd Floor= Eat in Kitchen w/ Gas Range + Refrigerator + Range Hood + Ceramic Flooring+Full Bath w/ Newer Tub Surrounds! Large Livingroom + two Bedrooms all w/ Carpeting! $AVE= Two New Bradford Hot Water Heaters + Newer Goodman furnace! Walking Distance to Onondaga Lake Parkway + Eateries + Library + Bars! Amazing Opportunity! * !

8. 2018-08-24
   status Pending Sale 708-char remark

   Show marketing remark (708 chars)

   IMPRESSIVE "LIVERPOOL VILLAGE" LOCATION! Fantastic Opportunity with this Ready to Rent Liverpool Village "INCOME PROPERTY"= Brick 2-Family Home! Rent right away, or improve home to Increase Rental Potential of this Home! 1st Floor= White Kitchen w/ Gas Stove + Range Hood + Refrigerator + Full Bath + Spacious Living Room + Large Bedrooms all w/ Carpeting! 2nd Floor= Eat in Kitchen w/ Gas Range + Refrigerator + Range Hood + Ceramic Flooring+Full Bath w/ Newer Tub Surrounds! Large Livingroom + two Bedrooms all w/ Carpeting! $AVE= Two New Bradford Hot Water Heaters + Newer Goodman furnace! Walking Distance to Onondaga Lake Parkway + Eateries + Library + Bars! Amazing Opportunity! * !

9. 2018-08-14
   historical Continue to Show- Under Contract 708-char remark

   Show marketing remark (708 chars)

   IMPRESSIVE "LIVERPOOL VILLAGE" LOCATION! Fantastic Opportunity with this Ready to Rent Liverpool Village "INCOME PROPERTY"= Brick 2-Family Home! Rent right away, or improve home to Increase Rental Potential of this Home! 1st Floor= White Kitchen w/ Gas Stove + Range Hood + Refrigerator + Full Bath + Spacious Living Room + Large Bedrooms all w/ Carpeting! 2nd Floor= Eat in Kitchen w/ Gas Range + Refrigerator + Range Hood + Ceramic Flooring+Full Bath w/ Newer Tub Surrounds! Large Livingroom + two Bedrooms all w/ Carpeting! $AVE= Two New Bradford Hot Water Heaters + Newer Goodman furnace! Walking Distance to Onondaga Lake Parkway + Eateries + Library + Bars! Amazing Opportunity! * !

10. 2018-07-17
    listed $94,900 Active 708-char remark

    Show marketing remark (708 chars)

    IMPRESSIVE "LIVERPOOL VILLAGE" LOCATION! Fantastic Opportunity with this Ready to Rent Liverpool Village "INCOME PROPERTY"= Brick 2-Family Home! Rent right away, or improve home to Increase Rental Potential of this Home! 1st Floor= White Kitchen w/ Gas Stove + Range Hood + Refrigerator + Full Bath + Spacious Living Room + Large Bedrooms all w/ Carpeting! 2nd Floor= Eat in Kitchen w/ Gas Range + Refrigerator + Range Hood + Ceramic Flooring+Full Bath w/ Newer Tub Surrounds! Large Livingroom + two Bedrooms all w/ Carpeting! $AVE= Two New Bradford Hot Water Heaters + Newer Goodman furnace! Walking Distance to Onondaga Lake Parkway + Eateries + Library + Bars! Amazing Opportunity! * !

11. 2018-07-15
    historical
12. 2018-06-05
    price $99,900
13. 2018-05-03
    price $109,900
14. 2018-04-04
    price $119,900
15. 2018-04-04
    price $124,900
16. 2018-03-15
    listed $129,900 Active

ⓘ 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: $6,703 · $559/mo
• Projected year-2 tax: $6,703 · $559/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 100% 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: $38,988
• − Mortgage interest: −$8,621
• − Property taxes: −$6,703
• − Insurance: −$770
• − Repairs & maintenance: −$3,119
• − Management: −$3,119
• − Depreciation: −$4,477
• Taxable income: $12,180
• Est. tax owed @ 24.0%: −$2,923
• After-tax cash flow: $10,720/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: Liverpool Central School District
• NCES district ID: 3617520
• Math proficiency: 49% ▼ -6.00%
• Reading proficiency: 49% ▲ 1.00%
• Median HH income: $59,134
• Composite: 42.84/100
• National rank: #3134
• State rank: #381 of 590 in NY

Livability — Liverpool

• Score: 86/100
• State rank: #16
• US rank: #363

Category grades

Amenities C+ Commute A+ Cost of living A- Crime A Employment B- Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Liverpool, NY
• City population: 29,004
• Population (ZIP): 21,875

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 5% Two or more races 5% Asian 4% Black 3%
• Common ancestry: Romanian 8% Lithuanian 4% Italian 2%
• Foreign-born: 8% · Canada, Vietnam, China
• Languages at home: 89% English-only · Spanish 3% Other Indo-European 2% Vietnamese 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: ▼ -185.59%
• Current HPI: 334.0109
• Rent YoY: —
• Metro: —
• 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

+18.5% since first listed

16 events — show timeline

• 2025-12-19 Pending — CNYIS
• 2025-12-17 Relisted — CNYIS
• 2025-09-15 Pending — CNYIS
• 2025-09-04 Listed $153,900 CNYIS
• 2025-06-18 Sold (Public Records) $83,210 Public Records
• 2018-11-16 Sold (Public Records) $83,210 Public Records
• 2018-11-15 Sold (MLS) $78,500 CNYIS
• 2018-08-24 Pending — CNYIS
• 2018-08-14 Contingent — CNYIS
• 2018-07-17 Listed $94,900 CNYIS
• 2018-07-15 Listing Removed — CNYIS
• 2018-06-05 Price Changed $99,900 CNYIS
• 2018-05-03 Price Changed $109,900 CNYIS
• 2018-04-04 Price Changed $119,900 CNYIS
• 2018-04-04 Price Changed $124,900 CNYIS
• 2018-03-15 Listed $129,900 CNYIS

Property tax history

+1.0%/yr

Latest (2025): $6,703 · +0.3% YoY. Source: county tax records.