306 Putnam St · Syracuse, NY 13204

$63,000

3 bd · 1.5 ba · 1,942 sqft · SingleFamily public records · 52 Days on market

Built 1915 4,356 sqft lot

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Why this score? — see what drove the A- 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
• Rent growth +4.6/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0

Listing remarks MLS

A great 2 story home with a lot of potential! Located centrally in Syracuse. Almost 1700 square feet of living area with 3 bedrooms and 1 bath

Key facts

• 4,356 sq ft lot
• Built 1915
• Listed 52 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $63k.

Deal economics

• At list price, monthly cash flow is $930 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $63k).
• Recommended offer: $61k (3.0% below list) — sets the bar for market timing.
• Cap rate 25.1% 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: Rents rising fast (+8.2%/yr); 119 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($436 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 + 8.0% rent growth), your $18k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($61k) 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.
• Current owner paid $25k; list at $63k implies a 152% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $61,110 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 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 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.84% ✓
• Cap rate: 25.06%
• Cash-on-cash: 67.01%
• DSCR: 3.98
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $167,012
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
207 Sabine St	0.27mi	4/2.0 (+1)	2,009 (+4%)	4mo	$70,000	$35	72
806 Tallman St	0.59mi	4/1.5 (+1)	1,938 (-0%)	0mo	$140,000	$72	67
229 Holland St	0.49mi	4/1.5 (+1)	2,082 (+7%)	0mo	$137,000	$66	60
714 Tallman St	0.64mi	3/1.5	1,938 (-0%)	15mo	$121,200	$63	57
109 Summit Ave	0.45mi	4/1.5 (+1)	2,161 (+11%)	4mo	$240,000	$111	52
1905 S Geddes St	0.60mi	4/1.5 (+1)	2,046 (+5%)	10mo	$175,000	$86	50
122 Lydell St	0.33mi	4/2.0 (+1)	1,654 (-15%)	12mo	$85,000	$51	43
221 Whittier Ave	0.73mi	4/1.5 (+1)	2,133 (+10%)	2mo	$190,000	$89	43
520 Stinard Ave	0.59mi	4/1.5 (+1)	1,752 (-10%)	13mo	$199,000	$114	40
1909 S Geddes St	0.62mi	4/1.5 (+1)	1,782 (-8%)	16mo	$205,000	$115	39
622 Stinard Ave	0.68mi	4/2.0 (+1)	2,136 (+10%)	10mo	$300,000	$140	36
404 Tioga St	0.70mi	4/2.0 (+1)	1,680 (-14%)	6mo	$118,500	$71	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 79.4%
• Equity multiple: 6.84×
• Total profit: $103,030
• Equity at exit: $56,755

10-year hold

• IRR: 75.3%
• Equity multiple: 16.90×
• Total profit: $280,390
• Equity at exit: $122,395

Cash invested: $17,640 (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 13204

• Home prices YoY: 31.6%
• Rents YoY: 8.2%
• Active inventory: 119
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,789 high
• Mortgage (P&I): −$330
• Tax from tax record: −$72 /mo · $863/yr
• Insurance: −$26
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $930

Break-even live

Break-even rent $613

Max offer price $63,000

Occupancy floor 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: $15,750
• Closing costs: $1,890
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
214 Rowland St Syracuse, NY	4.0	1.0	2092	$1,800	$0.86	13d	1	0.09mi
318 Kellogg St Unit 2 Syracuse, NY	3.0	1.0	1523	$1,675	$1.10	44d	1	0.26mi
318 Kellogg St Unit 1 Syracuse, NY	3.0	1.0	1523	$1,650	$1.08	44d	1	0.26mi
1110 Bellevue Ave Syracuse, NY	3.0	1.0	1449	$1,500	$1.04	44d	1	0.28mi
326 Holland St Unit 1 Syracuse, NY	3.0	1.0	2100	$1,825	$0.87	44d	1	0.33mi
229 Kellogg St Syracuse, NY	2.0	1.0	2046	$1,300	$0.64	21d	1	0.37mi
315 Grant Ave #17 Syracuse, NY	3.0	2.0	1477	$1,275	$0.86	13d	1	0.42mi
121 Whittier Ave Syracuse, NY	4.0	1.0	1400	$600	$0.43	44d	1	0.72mi
349 Bryant Ave Syracuse, NY	3.0	1.5	1500	$2,300	$1.53	13d	1	0.84mi
111 E Onondaga St Syracuse, NY	1.0–2.0	1.0–2.0	1150	$3,000	$2.61	21d	5	1.16mi
324 W Water St Unit 106 Syracuse, NY	2.0	1.0	1436	$2,095	$1.46	21d	1	1.20mi
317 S Clinton St Unit 3A Syracuse, NY	2.0	2.0	1500	$2,100	$1.40	44d	1	1.22mi
317 S Clinton St Unit 4A Syracuse, NY	2.0	1.5	1500	$2,100	$1.40	13d	1	1.22mi
321 S Salina St Unit 201 Syracuse, NY	2.0	1.0	1446	$2,450	$1.69	44d	1	1.27mi
321 S Salina St Unit 501 Syracuse, NY	2.0	1.0	1446	$3,000	$2.07	44d	1	1.27mi
319 S Salina St Syracuse, NY	2.0	2.0	1860	$2,000	$1.08	21d	1	1.28mi
269 W Borden Ave Syracuse, NY	4.0	1.5	1800	$650	$0.36	21d	1	1.29mi
1330 Midland Ave Syracuse, NY	4.0	1.0	1870	$2,000	$1.07	21d	1	1.30mi

Listing history 9 events

1. 2023-12-27
   status Pending
2. 2023-11-17
   status Pending Sale
3. 2023-09-26
   listed $63,000 Active
4. 2017-04-28
   soldstatus $25,000 Closed Sale or Rented 142-char remark

   Show marketing remark (144 chars)

   -A great 2 story home with a lot of potential! Located centrally in Syracuse. Almost 1,700 square feet of living area and 3 bedrooms and 1 bath.

5. 2017-04-28
   soldstatus $25,000 144-char remark

   Show marketing remark (144 chars)

   -A great 2 story home with a lot of potential! Located centrally in Syracuse. Almost 1,700 square feet of living area and 3 bedrooms and 1 bath.

6. 2016-11-28
   status Pending Sale 142-char remark

   Show marketing remark (144 chars)

   -A great 2 story home with a lot of potential! Located centrally in Syracuse. Almost 1,700 square feet of living area and 3 bedrooms and 1 bath.

7. 2016-11-28
   historical 144-char remark

   Show marketing remark (144 chars)

   -A great 2 story home with a lot of potential! Located centrally in Syracuse. Almost 1,700 square feet of living area and 3 bedrooms and 1 bath.

8. 2016-10-27
   listed $25,000 Active 142-char remark

   Show marketing remark (144 chars)

   -A great 2 story home with a lot of potential! Located centrally in Syracuse. Almost 1,700 square feet of living area and 3 bedrooms and 1 bath.

9. 2016-10-27
   listed $25,000 144-char remark

   Show marketing remark (144 chars)

   -A great 2 story home with a lot of potential! Located centrally in Syracuse. Almost 1,700 square feet of living area and 3 bedrooms and 1 bath.

ⓘ 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: $964 · $80/mo
• Expected delta: +$101/yr (+$8/mo · 11.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% 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: $21,474
• − Mortgage interest: −$3,529
• − Property taxes: −$863
• − Insurance: −$981
• − Repairs & maintenance: −$1,718
• − Management: −$1,718
• − Depreciation: −$1,833
• Taxable income: $10,831
• Est. tax owed @ 24.0%: −$2,600
• After-tax cash flow: $8,555/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): 19,440
• Household income: $45,351
• Rent vs Own: 70.8% rent · 29.2% own
• Severe rent burden: 2073.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 47% Black 26% Hispanic / Latino 17% Two or more races 13% Native American 1%
• Hispanic origin (detail): Puerto Rican 12% Cuban 2% Dominican 1%
• Common ancestry: Romanian 5% Lithuanian 2% Subsaharan African 2%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 83% English-only · Spanish 11% Russian/Polish/Slavic 3% Arabic 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: ▲ 100.14%
• Current HPI: 416.7272
• Rent YoY: ▲ 8.24%
• 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

+152.0% since first listed

9 events — show timeline

• 2023-12-27 Pending — CNYIS
• 2023-11-17 Pending — CNYIS
• 2023-09-26 Listed $63,000 CNYIS
• 2017-04-28 Sold (MLS) $25,000 WNYREIS
• 2017-04-28 Sold (MLS) $25,000 CNYIS
• 2016-11-28 Pending — CNYIS
• 2016-11-28 Listing Removed — WNYREIS
• 2016-10-27 Listed $25,000 CNYIS
• 2016-10-27 Listed $25,000 WNYREIS

Property tax history

+2.6%/yr

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