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1303 1st North St 🏷️ Likely Rental
A Composite 88.23
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
  • ARV discount +15.0/15.0
  • 1% rule +10.0/10.0
  • DSCR +10.0/10.0
  • Appreciation +10.0/10.0
  • Condition / age +4.0/5.0
  • Livability +3.9/5.0
  • Schools +2.9/10.0
  • Rent growth +2.5/5.0

$170,900

1303 1st North St · Syracuse, NY 13208
6 bd · 3.0 ba · 2,203 sqft · MultiFamily public records · 98 Days on market
Built 1920 Good condition 8,712 sqft lot $78/sqft · 37% below area Est $270k · 37% under

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Three unit property. All units are rented, current on rent and tenants are full self pay. Apartment 1 & 3 are longer term tenants on a month to month lease. Apartment 2 is on a 1-year lease started in March 2026. Apt 1 (3 bed) pays $1,150. Apt 2 (1 bed) pays $1,025. Apt 3 (studio) pays $550. There is one main boiler and one hot water heater. Landlord pays for water/sewer, gas and electric. National grid bill for gas/electric is on a budget plan for $500 per month. All new windows throughout, new sidewalks, new driveway and overall very well maintained.

Key facts

  • New driveway
  • New sidewalks
  • Well maintained

Tags

NEW WINDOWSNEW SIDEWALKSNEW DRIVEWAYWELL MAINTAINED

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…
🏷️ Possibly a rental listed for sale. The $170,900 price doesn't fit this home's estimated sale value (~$270,320) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

  • This is a 3 × 4-bed/3.0-bath units multifamily listed at $171k. Condition is rated good.

Deal economics

  • At list price, monthly cash flow is $3k ($32k/yr) — positive. Per door: $895/mo.
  • The deal already cash-flows at list — no discount required.
  • Meets the 1% rule at list price ($5k rent vs $171k).
  • Recommended offer: $156k (9.0% below list) — sets the bar for market timing.
  • Cap rate 25.2% vs local median 7.6% 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: Syracuse Latin School (math 31% / reading 62%, grade D-, #1,262 of 2,108 statewide, top 60%, 642 students, 42% 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 49% at this address vs 22% district-wide (+27 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: 167 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $18k of equity ($1k loan paydown + $17k 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 $48k cash investment doubles in ~1 year — after that, you're playing with house money.
  • By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

  • It's been on market 98 days — a 9% lower offer ($156k) is reasonable based on typical stale-listing flexibility.
  • Current owner paid $47k; list at $171k implies a 261% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

  • Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
Recommended offer $155,519 (9.0% below list)

Questions for the listing agent

  1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% 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 1920 — 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
2.82%
Cap rate
25.15%
Cash-on-cash
67.36%
DSCR
4.00
GRM
3.0

CMA / ARV

ARV (median comp)
$270,320
List price
$170,900
Delta
-36.78%
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
2725 Grant Blvd #27 0.20mi 6/2.0 2,320 (+5%) 11mo $265,500 $114 69
958 Lemoyne Ave 0.36mi 5/3.0 (-1) 2,140 (-3%) 12mo $220,000 $103 63
1002 Spring St 0.29mi 6/2.0 2,472 (+12%) 1mo $130,500 $53 61
401 Lemoyne Ave 0.27mi 5/2.0 (-1) 2,312 (+5%) 16mo $169,900 $73 57
105 Murray Ave 0.28mi 6/2.0 2,070 (-6%) 19mo $159,000 $77 57
1242 Court St 0.53mi 6/2.0 2,096 (-5%) 14mo $244,000 $116 51
2023 Lodi St 0.62mi 6/2.0 2,300 (+4%) 11mo $125,000 $54 51
2414 Lodi St 0.43mi 5/2.0 (-1) 2,095 (-5%) 18mo $115,000 $55 48
2228 - 30 Grant Blvd #30 0.62mi 6/2.0 2,444 (+11%) 12mo $222,000 $91 39
1417 Butternut St 0.74mi 5/3.0 (-1) 2,005 (-9%) 11mo $79,900 $40 36
213 Kirkpatrick St 0.56mi 7/2.0 (+1) 1,928 (-12%) 16mo $71,000 $37 31
2028 Lodi St 0.60mi 5/2.0 (-1) 2,004 (-9%) 22mo $74,000 $37 30

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
78.6%
Equity multiple
6.52×
Total profit
$264,189
Equity at exit
$153,960
10-year hold
IRR
72.8%
Equity multiple
14.45×
Total profit
$643,520
Equity at exit
$332,021

Cash invested: $47,852 (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.
Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now
8 active · 14 under contract
Months of supply
24.0 mo (4%/mo absorbed)
Median asking
$247,000 ($104/sqft)
Median days on market
123 d
This list price
12% of active listings are priced below it
ARV vs active asking
+17.9% above current asking $/sqft

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

ZIP-level market 13208

Home prices YoY
8.4%
Active inventory
167
Price-to-rent
8.9×

Monthly cashflow live

Estimated rent
$4,812 medium interval (Pro) →
Mortgage (P&I)
$896
Tax from tax record
$148 /mo · $1,775/yr
Insurance
$71
HOA
$0
Vacancy / Maint / Mgmt
$1,011
Net cashflow
$2,686

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

UnitsBedsBathsEst. rent
Total (3 units) $4,812

Break-even live

Break-even rent $1,412
Max offer price $170,900
Occupancy floor 39%

Sensitivity live

Price -10% $2,783 -5% $2,734 +0% $2,686 +5% $2,638 +10% $2,589
Rent -10% $2,306 -5% $2,496 +0% $2,686 +5% $2,876 +10% $3,066
Rate -1.0pp $2,772 -0.5pp $2,730 base $2,686 +0.5pp $2,642 +1.0pp $2,597

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
$42,725
Closing costs
$5,127
Reserves months
Total cash needed

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Short-term bridge; refi at stabilization.

Rent comps 26 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
335 Willumae Dr Syracuse, NY 3.0 1.0 1056 $2,075 $1.96 0d 1 0.37mi
1507 N Salina St Unit 3 Syracuse, NY 3.0 2.0 1030 $1,350 $1.31 139d 1 0.39mi
2419 Lodi St #1 Syracuse, NY 3.0 1.0 $1,691 6d 1 0.49mi
406 Union Pl Syracuse, NY 3.0 1.0 3552 $1,600 $0.45 116d 1 0.54mi
104 Steuben St Unit 3 Syracuse, NY 3.0 1.0 $1,150 116d 1 0.58mi
1132 Wolf St Unit 4 Syracuse, NY 3.0 1.0 1041 $1,350 $1.30 139d 1 0.58mi
286 Ross Park Syracuse, NY 3.0 1.0 1100 $1,500 $1.36 140d 1 0.64mi
201 Pond St Unit 3 Syracuse, NY 3.0 1.0 $1,650 139d 1 0.65mi
1228 N State St Unit 2 Syracuse, NY 3.0 1.0 $1,691 139d 1 0.65mi
912 Park St Unit 1 Syracuse, NY 3.0 1.0 1040 $1,200 $1.15 139d 1 0.77mi
107 John St Unit 1R Syracuse, NY 3.0 1.0 $1,785 109d 1 0.89mi
176 Mayar St Syracuse, NY 3.0 1.0 1040 $1,800 $1.73 0d 1 1.06mi
126 Woodruff Ave Syracuse, NY 3.0 1.0 1200 $1,675 $1.40 139d 1 1.07mi
746 E Laurel St Unit 1 Syracuse, NY 4.0 2.0 1400 $1,500 $1.07 139d 1 1.10mi
525 Plum St Unit 118-3 Syracuse, NY 3.0 1.0 $2,100 139d 1 1.12mi
319-25 N Salina St Syracuse, NY 3.0 1.0 50790 $1,300 $0.03 139d 1 1.25mi
205 Helen St Apt 1 Syracuse, NY 3.0 1.0 $1,400 109d 1 1.28mi
130 Old Liverpool Rd Liverpool, NY 4.0 1.0 1100 $1,700 $1.55 109d 1 1.29mi
610 N McBride St Syracuse, NY 4.0 2.5 1635 $2,500 $1.53 6d 1 1.29mi
712 Oak St Syracuse, NY 3.0 1.0 2461 $1,700 $0.69 116d 1 1.32mi
416 Pearl St Unit 2 Syracuse, NY 3.0 1.0 900 $2,400 $2.67 109d 1 1.32mi
422 Douglas St Syracuse, NY 3.0 1.0 1354 $2,000 $1.48 0d 1 1.33mi
101 Douglas Ave Liverpool, NY 5.0 2.0 1385 $2,600 $1.88 6d 1 1.34mi
612 N Geddes St Unit 2 Syracuse, NY 3.0 1.0 $1,691 139d 1 1.36mi
423 Wendell Ter Syracuse, NY 4.0 1.0 1312 $2,500 $1.91 109d 1 1.42mi
106 Harrington St Syracuse, NY 3.0 1.0 1168 $1,875 $1.61 139d 1 1.48mi

Property features AI

Finance

Financial info
Owner pays heat, hot water, and waterRent includes heat, hot water, and waterOperating expenses include water and sewer

Exterior

Parking
Two or more parking spaces
Utilities
Public water connectedSewer connected
Home design
2-story buildingResale propertyShake siding
Construction
Shake siding constructionExisting (previously built)
Exterior features
Rectangular residential lotCity street frontageLot dimensions approximately 66 x 132

Interior

Kitchen
Gas water heater
Bedrooms
Property contains 3 total units
Flooring
Luxury vinyl
Bathrooms
3 full bathrooms (total)
Heating & cooling
Gas heatingBaseboard heating
Interior features
Full basementLuxury vinyl flooring
Laundry & utility
Separate gas meterSeparate electric meter

Listing history 50 events

  1. 2026-09-24
    days on market $170,900 Active 98 DOM
  2. 2026-09-22
    days on market $170,900 Active 97 DOM
  3. 2026-09-21
    days on market $170,900 Active 96 DOM
  4. 2026-09-20
    days on market $170,900 Active 95 DOM
  5. 2026-09-18
    days on market $170,900 Active 93 DOM
  6. 2026-09-17
    days on market $170,900 Active 92 DOM
  7. 2026-09-16
    days on market $170,900 Active 91 DOM
  8. 2026-09-15
    days on market $170,900 Active 90 DOM
  9. 2026-09-15
    price $170,900 Active 89 DOM
  10. 2026-09-14
    days on market $179,900 Active 89 DOM
  11. 2026-09-13
    days on market $179,900 Active 88 DOM
  12. 2026-09-12
    days on market $179,900 Active 87 DOM
  13. 2026-09-11
    days on market $179,900 Active 86 DOM
  14. 2026-09-05
    days on market $179,900 Active 80 DOM
  15. 2026-09-04
    days on market $179,900 Active 79 DOM
  16. 2026-09-03
    days on market $179,900 Active 78 DOM
  17. 2026-08-31
    days on market $179,900 Active 75 DOM
  18. 2026-08-30
    days on market $179,900 Active 74 DOM
  19. 2026-08-29
    days on market $179,900 Active 73 DOM
  20. 2026-08-28
    days on market $179,900 Active 72 DOM
  21. 2026-08-27
    days on market $179,900 Active 71 DOM
  22. 2026-08-25
    days on market $179,900 Active 69 DOM
  23. 2026-08-24
    days on market $179,900 Active 68 DOM
  24. 2026-08-23
    days on market $179,900 Active 67 DOM
  25. 2026-08-22
    days on market $179,900 Active 66 DOM
  26. 2026-08-21
    days on market $179,900 Active 65 DOM
  27. 2026-08-20
    days on market $179,900 Active 64 DOM
  28. 2026-08-19
    days on market $179,900 Active 63 DOM
  29. 2026-08-18
    days on market $179,900 Active 62 DOM
  30. 2026-08-17
    days on market $179,900 Active 61 DOM
  31. 2026-08-16
    days on market $179,900 Active 60 DOM
  32. 2026-08-15
    days on market $179,900 Active 59 DOM
  33. 2026-08-14
    days on market $179,900 Active 58 DOM
  34. 2026-08-13
    days on market $179,900 Active 57 DOM
  35. 2026-08-12
    days on market $179,900 Active 56 DOM
  36. 2026-08-11
    days on market $179,900 Active 55 DOM
  37. 2026-08-10
    days on market $179,900 Active 54 DOM
  38. 2026-08-09
    days on market $179,900 Active 53 DOM
  39. 2026-08-08
    days on market $179,900 Active 52 DOM
  40. 2026-08-07
    days on market $179,900 Active 51 DOM
  41. 2026-08-06
    days on market $179,900 Active 50 DOM
  42. 2026-08-05
    days on market $179,900 Active 49 DOM
  43. 2026-08-04
    days on market $179,900 Active 48 DOM
  44. 2026-08-03
    days on market $179,900 Active 47 DOM
  45. 2026-07-31
    days on market $179,900 Active 44 DOM
  46. 2026-07-29
    days on market $179,900 Active 42 DOM
  47. 2026-07-27
    days on market $179,900 Active 40 DOM
  48. 2026-07-25
    days on market $179,900 Active 38 DOM
  49. 2026-07-24
    days on market $179,900 Active 37 DOM
  50. 2026-07-23
    days on market $179,900 Active 36 DOM

ⓘ 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
$1,775 · $148/mo
Projected year-2 tax
$2,332 · $194/mo
Expected delta
+$556/yr (+$46/mo · 31.3%)

ⓘ 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 · 15 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

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income
$57,744
− Mortgage interest
−$9,573
− Property taxes
−$1,775
− Insurance
−$854
− Repairs & maintenance
−$4,620
− Management
−$4,620
− Depreciation
−$4,972
Taxable income
$31,330
combined federal + state — saved on this device
Est. tax owed @ 24.0%
−$7,519
After-tax cash flow
$24,714/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 · 2 photos

Good 80/100 Cosmetic rehab Est. rehab $11,015–$33,045 screening

This multi-family property is in good condition with recent improvements and is well-maintained. It has potential for further value increases through cosmetic updates and landscaping improvements.

Value-add opportunities

  • Both Painting the exterior — Fresh paint can enhance curb appeal and property value.
  • Both Landscaping improvements — Well-maintained landscaping can improve both resale and rental value.
  • Both Interior updates — Fresh paint and minor updates can make the interior more appealing and increase value.
  • Both New windows — New windows can improve energy efficiency and increase property value.
  • Both New sidewalks and driveway — These improvements can enhance the property's curb appeal and accessibility, increasing its value.
  • Both Landscaping and curb appeal — A well-maintained and aesthetically pleasing exterior can attract more tenants and buyers, increasing both resale and rental 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 29/100

Zoned Schools

Elementary Webster Elementary School F NY #2,011/2,108 Nat'l #35,191/41,679 Middle Grant Middle School F NY #719/729 Nat'l #13,125/14,009 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)
22,993
Household income
$44,712
Rent vs Own
50.8% rent · 49.2% own
Severe rent burden
12% of renters

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

Price history

+279.9% since first listed
3 events — show timeline
  • 2026-06-30 Price Changed $179,900 CNYIS
  • 2026-06-17 Listed $189,900 CNYIS
  • 2014-06-30 Sold (Public Records) $47,350 Public Records

Property tax history

+0.5%/yr

Latest (2025): $1,775 · +1.1% YoY. Source: county tax records.

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

Loading sold comps…