417 Kirkpatrick St · Syracuse, NY 13208

$194,900

4 bd · 2.0 ba · 2,460 sqft · Townhouse public records · 49 Days on market

Built 1928 8,580 sqft lot $79/sqft · 12% above area Est $174k · 12% 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 +26.8/30.0
• Appreciation +10.0/10.0
• DSCR +9.2/10.0
• 1% rule +6.4/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +2.1/15.0
• Schools +1.8/10.0

Listing remarks

Whether you're house hacking your way to free living or adding a cash-flowing asset to your portfolio, this maintained two-family property on the Northside checks every box. The spacious first-floor unit offers three bedrooms and is move-in ready — freshly painted throughout, refinished kitchen cabinets, new bathroom with updated tub and vanity, and new flooring in the in-unit laundry room. Live here and let your tenant help cover the mortgage, or lease it out immediately for added income. Upstairs, a two-bedroom unit with a generous kitchen and living room is already leased at $1,050/month — providing day-one cash flow. Utilities have been thoughtfully separated with a dedicate

Key facts

• 2 garage spots
• Built 1928
• Listed 49 days

Property features AI

Finance

• Financial info: Property is a 2-unit multifamily with separate gas and electric meters for each unit; Owner pays water; water included in rent for tenants; Operating expenses include insurance and water; Reported rents: one unit at $1,050 (month-to-month), one unit at $1,500

Exterior

• Parking: 2-car garage; Paved parking with two or more spaces
• Utilities: Public water (connected); Sewer connected
• Home design: 2-story building; Existing resale property; Aluminum siding
• Construction: Aluminum siding exterior
• Exterior features: Rectangular residential lot; City street frontage; Lot dimensions approximately 65 x 132

Interior

• Kitchen: Oven/Range; Refrigerator; Eat-in kitchen (in at least one unit); Dining area open to living room (in one unit)
• Bedrooms: One unit with 2 bedrooms; One unit with 3 bedrooms
• Flooring: Vinyl flooring; Varied flooring
• Bathrooms: Two full bathrooms total (one full bath per unit)
• Heating & cooling: Gas forced air heating; Gas water heater
• Interior features: Full basement
• Laundry & utility: Laundry in unit (one unit)

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath townhouse listed at $195k.

Deal economics

• At list price, monthly cash flow is $533 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• Recommended offer: $189k (3.0% 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: 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: 100 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• At $2,223/mo this rent would consume 60% 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 $21k of equity ($1k loan paydown + $19k 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 $55k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 15y 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 $101k; list at $195k implies a 93% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $189,053 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 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 1928 — 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: 1.14% ✓
• Cap rate: 9.57%
• Cash-on-cash: 11.72%
• DSCR: 1.52
• GRM: 7.3

CMA / ARV

• ARV (median comp): $174,159
• List price: $194,900
• Delta: 11.91%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1604 Park St	0.29mi	5/2.0 (+1)	2,486 (+1%)	16mo	$170,000	$68	66

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: 32.9%
• Equity multiple: 3.57×
• Total profit: $140,048
• Equity at exit: $175,581

10-year hold

• IRR: 28.4%
• Equity multiple: 8.07×
• Total profit: $385,642
• Equity at exit: $378,648

Cash invested: $54,572 (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: 100
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,223 medium
• Mortgage (P&I): −$1,022
• Tax from tax record: −$120 /mo · $1,437/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$467
• Net cashflow: $533

Break-even live

Break-even rent $1,548

Max offer price $194,900

Occupancy floor 71%

Sensitivity live

Price	-10% $643	-5% $588	+0% $533	+5% $478	+10% $423
Rent	-10% $357	-5% $445	+0% $533	+5% $621	+10% $709
Rate	-1.0pp $631	-0.5pp $583	base $533	+0.5pp $482	+1.0pp $431

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: $48,725
• Closing costs: $5,847
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
712 Oak St Syracuse, NY	3.0	1.0	2461	$1,700	$0.69	22d	1	1.01mi
365 Green St Syracuse, NY	5.0	3.5	2263	$3,300	$1.46	22d	1	1.25mi
447 E Washington St Syracuse, NY	3.0	1.5	2095	$2,100	$1.00	14d	1	1.29mi

Listing history 34 events

1. 2026-06-16
   status $194,900 Pending 49 DOM
2. 2026-06-16
   days on market $194,900 Active 49 DOM
3. 2026-06-15
   days on market $194,900 Active 48 DOM
4. 2026-06-14
   days on market $194,900 Active 46 DOM
5. 2026-06-13
   days on market $194,900 Active 45 DOM
6. 2026-06-10
   days on market $194,900 Active 43 DOM
7. 2026-06-09
   days on market $194,900 Active 42 DOM
8. 2026-06-08
   days on market $194,900 Active 41 DOM
9. 2026-06-07
   days on market $194,900 Active 40 DOM
10. 2026-06-05
    days on market $194,900 Active 37 DOM
11. 2026-06-02
    days on market $194,900 Active 35 DOM
12. 2026-06-01
    days on market $194,900 Active 34 DOM
13. 2026-05-31
    days on market $194,900 Active 33 DOM
14. 2026-05-30
    days on market $194,900 Active 32 DOM
15. 2026-05-18
    status Active 1250-char remark
16. 2026-05-08
    historical Active Under Contract 1250-char remark
17. 2026-04-28
    listed $194,900 Active 1250-char remark
18. 2025-10-07
    listed $184,900 Active
19. 2025-10-06
    historical
20. 2025-08-27
    price $188,000
21. 2025-06-04
    listed $199,000 Active
22. 2023-12-27
    status Pending
23. 2023-12-27
    soldstatus $101,000 Closed
24. 2023-10-13
    status Under Contract- Do Not Show
25. 2023-10-01
    historical Continue to Show- Under Contract
26. 2023-09-25
    listed $89,900 Active
27. 2022-09-12
    status Under Contract- Do Not Show
28. 2022-09-12
    historical
29. 2022-08-28
    listed $85,000 Active
30. 2020-06-24
    soldstatus $160,000
31. 2011-05-03
    listed $59,900
32. 2004-12-02
    soldstatus $75,000
33. 2004-05-28
    soldstatus $35,500
34. 2004-02-13
    soldstatus $55,769

ⓘ 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: $1,437 · $120/mo
• Projected year-2 tax: $2,365 · $197/mo
• Expected delta: +$929/yr (+$77/mo · 64.6%)

ⓘ 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: $26,673
• − Mortgage interest: −$10,917
• − Property taxes: −$1,437
• − Insurance: −$974
• − Repairs & maintenance: −$2,134
• − Management: −$2,134
• − Depreciation: −$5,670
• Taxable income: $3,407
• Est. tax owed @ 24.0%: −$818
• After-tax cash flow: $5,578/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
• 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

+249.5% since first listed

21 events — show timeline

• 2026-06-16 Pending — CNYIS
• 2026-05-18 Relisted — CNYIS
• 2026-05-08 Contingent — CNYIS
• 2026-04-28 Listed $194,900 CNYIS
• 2025-10-07 Listed $184,900 CNYIS
• 2025-10-06 Listing Removed — CNYIS
• 2025-08-27 Price Changed $188,000 CNYIS
• 2025-06-04 Listed $199,000 CNYIS
• 2023-12-27 Pending — CNYIS
• 2023-12-27 Sold (MLS) $101,000 CNYIS
• 2023-10-13 Pending — CNYIS
• 2023-10-01 Contingent — CNYIS
• 2023-09-25 Listed $89,900 CNYIS
• 2022-09-12 Pending — CNYIS
• 2022-09-12 Listing Removed — CNYIS
• 2022-08-28 Listed $85,000 CNYIS
• 2020-06-24 Sold (Public Records) $160,000 Public Records
• 2011-05-03 Listed $59,900 CNYIS
• 2004-12-02 Sold (Public Records) $75,000 Public Records
• 2004-05-28 Sold (Public Records) $35,500 Public Records
• 2004-02-13 Sold (Public Records) $55,769 Public Records

Property tax history

-0.3%/yr

Latest (2025): $1,437 · +0.2% YoY. Source: county tax records.