303 Boyden · Syracuse, NY 13203

$139,900

4 bd · 2.0 ba · 1,334 sqft · SingleFamily · 56 Days on market

Built 1942 Good condition 4,950 sqft lot $105/sqft · 15% below area Est $164k · 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 +30.0/30.0
• ARV discount +14.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• Rent growth +4.6/5.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• Schools +2.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Turnkey rental property generating $1,450/month in income, offering immediate cash flow from day one. This property is tenant-occupied, making it an ideal addition for investors looking for a stable, income-producing asset. Recent updates add even more value and peace of mind, including a newer roof, newer water heater, and BOTH FULL bathrooms fully remodeled in 2025 with complete tile surrounds, providing long lasting durability and modern appeal for years to come. The existing tenants are long-term occupants currently paying below market rent, presenting a clear opportunity for future upside while maintaining stable occupancy.

Key facts

• Newer roof
• Newer water heater
• 4,950 sq ft lot

Tags

• TURNKEY RENTAL PROPERTY
• NEWER ROOF
• NEWER WATER HEATER
• FULL BATHROOMS FULLY REMODELED
• COMPLETE TILE SURROUNDS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $140k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $579 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.3% vs local median 7.5% 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: 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: Dr Weeks Elementary School (math 4% / reading 12%, grade F, #2,086 of 2,108 statewide, top 99%, 714 students, 91% FRL); Lincoln Middle School (math 8% / reading 14%, grade F, #721 of 729 statewide, top 99%, 508 students, 90% FRL); Henninger High School (math 65% / reading 50%, grade C, #885 of 1,100 statewide, top 81%, 1,499 students, 85% FRL).
• Market conditions: Rents rising fast (+8.4%/yr); 70 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals lingering (median 93d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• At $1,956/mo this rent would consume 50% of the median local household income ($47k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 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 + 8.0% rent growth), your $39k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y 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 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $135,703 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 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 1942 — 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: 1.40% ✓
• Cap rate: 11.26%
• Cash-on-cash: 17.72%
• DSCR: 1.79
• GRM: 6.0

CMA / ARV

• ARV (median comp): $163,717
• List price: $139,900
• Delta: -14.55%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
127 Schuler St	0.09mi	4/1.5	1,448 (+8%)	2mo	$225,000	$155	78
206 Sedgwick St	0.27mi	3/2.0 (-1)	1,368 (+2%)	2mo	$80,000	$58	76
209 Boyden St	0.04mi	3/1.5 (-1)	1,416 (+6%)	7mo	$178,571	$126	75
409 Hixson Ave	0.26mi	3/1.5 (-1)	1,232 (-8%)	2mo	$155,000	$126	66
508 Elm St	0.35mi	4/1.0	1,440 (+8%)	2mo	$160,000	$111	65
362 Hickok Ave	0.55mi	3/1.0 (-1)	1,320 (-1%)	5mo	$199,900	$151	60
321 Dewitt St	0.53mi	3/1.5 (-1)	1,310 (-2%)	7mo	$175,000	$134	59
408 Stafford Ave	0.62mi	4/1.0	1,437 (+8%)	2mo	$197,600	$138	53
211 Dorchester Ave	0.60mi	3/2.0 (-1)	1,447 (+8%)	2mo	$291,000	$201	52
409 Dewitt St	0.56mi	3/1.5 (-1)	1,456 (+9%)	1mo	$215,000	$148	51
125 Paul Ave	0.55mi	4/1.5	1,527 (+14%)	3mo	$210,000	$138	46
204 Kline St	0.52mi	3/2.0 (-1)	1,524 (+14%)	4mo	$278,750	$183	44

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 14.7%
• Equity multiple: 1.63×
• Total profit: $24,547
• Equity at exit: $20,860

10-year hold

• IRR: 27.0%
• Equity multiple: 3.96×
• Total profit: $115,998
• Equity at exit: $12,096

Cash invested: $39,172 (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 →

Seller's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 9 active · 28 under contract
• Months of supply: 2.6 mo (39%/mo absorbed)
• Median asking: $165,000 ($115/sqft)
• Median days on market: 70 d
• This list price: 22% of active listings are priced below it
• ARV vs active asking: +6.5% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 13203

• Home prices YoY: -11.9%
• Rents YoY: 8.4%
• Active inventory: 70
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,956 high
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,098/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $579

Break-even live

Break-even rent $1,224

Max offer price $139,900

Occupancy floor 65%

Sensitivity live

Price	-10% $675	-5% $627	+0% $579	+5% $530	+10% $482
Rent	-10% $424	-5% $501	+0% $579	+5% $656	+10% $733
Rate	-1.0pp $649	-0.5pp $614	base $579	+0.5pp $542	+1.0pp $505

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: $34,975
• Closing costs: $4,197
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 16 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	62d	1	0.30mi
1801 James St #2 Syracuse, NY	3.0	1.0	1244	$1,800	$1.45	62d	1	0.37mi
423 Wendell Ter Syracuse, NY	4.0	1.0	1312	$2,500	$1.91	63d	1	0.69mi
202 Stafford Ave Syracuse, NY	3.0	1.0	1692	$1,800	$1.06	62d	1	0.70mi
126 Woodruff Ave Syracuse, NY	3.0	1.0	1200	$1,675	$1.40	93d	1	0.85mi
525 Burnet Ave Unit First Floor Syracuse, NY	3.0	1.0	900	$1,650	$1.83	93d	1	0.88mi
746 E Laurel St Unit 1 Syracuse, NY	4.0	2.0	1400	$1,500	$1.07	93d	1	0.94mi
135 Lexington Ave Unit 22 Syracuse, NY	5.0	2.0	1150	$2,500	$2.17	93d	1	0.96mi
205A Hawley Ave Unit 211C Syracuse, NY	3.0	2.5	1350	$1,675	$1.24	93d	1	1.05mi
205A Hawley Ave Unit 213C Syracuse, NY	3.0	2.5	1350	$1,650	$1.22	93d	1	1.05mi
1108 Madison St Unit 2 Syracuse, NY	3.0	1.5	1580	$2,080	$1.32	93d	1	1.12mi
297 Norwood Ave Syracuse, NY	3.0	1.0	1188	$2,050	$1.73	70d	1	1.14mi
912 Park St Unit 1 Syracuse, NY	3.0	1.0	1040	$1,200	$1.15	93d	1	1.19mi
118 Niven St Syracuse, NY	3.0	1.0	1150	$1,650	$1.43	70d	1	1.30mi
416 Pearl St Unit 2 Syracuse, NY	3.0	1.0	900	$2,400	$2.67	63d	1	1.38mi
205 Fellows Ave Unit 1 Syracuse, NY	3.0	1.0	1638	$1,800	$1.10	70d	1	1.44mi

Property features AI

Exterior

• Parking: No garageNo driveway
• Utilities: Public water connectedSewer connected
• Home design: 2-story houseExisting construction
• Construction: Wood siding exteriorBlock foundation
• Exterior features: Corner lotRectangular lotLot dimensions approximately 66 x 75

Interior

• Kitchen: DishwasherGas ovenGas rangeMicrowaveRefrigerator
• Bedrooms: 1 main-level bedroomTotal rooms: 9
• Flooring: HardwoodLuxury vinylTileVaried flooring
• Bathrooms: 2 full bathrooms1 main-level bathroom
• Heating & cooling: Gas heatingRadiator heating
• Interior features: Separate/formal dining roomBedroom on main levelFull basement
• Laundry & utility: Gas water heater

Listing history 20 events

1. 2026-06-17
   days on market $139,900 Active 56 DOM
2. 2026-06-16
   days on market $139,900 Active 55 DOM
3. 2026-06-15
   days on market $139,900 Active 54 DOM
4. 2026-06-14
   days on market $139,900 Active 52 DOM
5. 2026-06-13
   days on market $139,900 Active 51 DOM
6. 2026-06-10
   days on market $139,900 Active 49 DOM
7. 2026-06-09
   days on market $139,900 Active 48 DOM
8. 2026-06-08
   days on market $139,900 Active 47 DOM
9. 2026-06-07
   days on market $139,900 Active 46 DOM
10. 2026-06-05
    days on market $139,900 Active 43 DOM
11. 2026-06-02
    days on market $139,900 Active 41 DOM
12. 2026-06-01
    days on market $139,900 Active 40 DOM
13. 2026-05-31
    days on market $139,900 Active 39 DOM
14. 2026-05-30
    days on market $139,900 Active 38 DOM
15. 2026-04-22
    listed $139,900 Active 832-char remark
16. 2016-10-29
    historical
17. 2016-10-03
    price $34,900
18. 2016-09-30
    listed $47,000 Active
19. 2016-09-08
    historical
20. 2016-07-27
    listed $52,000 Active

ⓘ 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 · 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: $23,474
• − Mortgage interest: −$7,837
• − Property taxes: −$2,098
• − Insurance: −$700
• − Repairs & maintenance: −$1,878
• − Management: −$1,878
• − Depreciation: −$4,070
• Taxable income: $5,014
• Est. tax owed @ 24.0%: −$1,203
• After-tax cash flow: $5,740/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

Good 75/100 Cosmetic rehab Est. rehab $6,670–$20,010 screening

This turnkey rental property is in good condition with recent updates, including a newer roof and fully remodeled bathrooms. It offers immediate cash flow and has potential for future value appreciation.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and property value ↑
• Both Clean gutters — Improves drainage and property value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 25/100

Zoned Schools

Elementary Dr Weeks Elementary School F NY #2,086/2,108 Nat'l #39,822/41,679 Middle Lincoln Middle School F NY #721/729 Nat'l #13,273/14,009 High Henninger High School C NY #885/1,100 Nat'l #4,068/17,239

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

B Composite livability gradescore 77/100

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 · 467,894 people
• City population: 152,627
• Metro: Syracuse, NY
• Population (ZIP): 16,180
• Household income: $46,997
• Rent vs Own: 63.8% rent · 36.2% own
• Severe rent burden: 9% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 52% Black 22% Hispanic / Latino 11% Two or more races 9% Asian 7%
• Hispanic origin (detail): Puerto Rican 6% Cuban 2%
• Common ancestry: Romanian 3% Lithuanian 2% Iranian 2%
• Foreign-born: 13% · Canada, India, Philippines
• Languages at home: 81% English-only · Spanish 6% Other Indo-European 3% Other Asian/Pacific 3%

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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: ▼ -35.69%
• Current HPI: 263.2588
• Rent YoY: ▲ 8.39%
• Metro: Syracuse, NY
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

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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

Property features AI

Exterior

• Parking: No garageNo driveway
• Utilities: Public water connectedSewer connected
• Home design: 2-story houseExisting construction
• Construction: Wood siding exteriorBlock foundation
• Exterior features: Corner lotRectangular lotLot dimensions approximately 66 x 75

Interior

• Kitchen: DishwasherGas ovenGas rangeMicrowaveRefrigerator
• Bedrooms: 1 main-level bedroomTotal rooms: 9
• Flooring: HardwoodLuxury vinylTileVaried flooring
• Bathrooms: 2 full bathrooms1 main-level bathroom
• Heating & cooling: Gas heatingRadiator heating
• Interior features: Separate/formal dining roomBedroom on main levelFull basement
• Laundry & utility: Gas water heater

Price history

+169.0% since first listed

6 events — show timeline

• 2026-04-22 Listed $139,900 CNYIS
• 2016-10-29 Listing Removed — CNYIS
• 2016-10-03 Price Changed $34,900 CNYIS
• 2016-09-30 Listed $47,000 CNYIS
• 2016-09-08 Listing Removed — CNYIS
• 2016-07-27 Listed $52,000 CNYIS