326 Park St · Syracuse, NY 13203

$365,000

8 bd · 3.0 ba · 2,748 sqft · MultiFamily public records · 38 Days on market

Built 1915 5,808 sqft lot $133/sqft · 46% above area Est $250k · 46% over

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Why this score? — see what drove the C+ 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
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• Rent growth +4.6/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Fully Leased 3-Family Investment Property A great opportunity to acquire a stabilized, income-producing multifamily asset in Syracuse. This solid three-family offers a proven 3/3/2 bedroom configuration. The property is fully occupied, delivering immediate cash flow from day one with zero lease-up risk. A detached 2-car garage adds an additional income opportunity or tenant amenity that most competing properties don't offer. With three distinct rental units under one roof, investors benefit from built-in income redundancy — a single vacancy doesn't stop the clock on returns. Whether you're building a portfolio, or looking for your first property in a market with strong rental funda

Key facts

• 5,808 sq ft lot
• 2 parking spots
• Built 1915

Tags

• DETACHED 2-CAR GARAGE
• THREE DISTINCT RENTAL UNITS

Property features AI

Finance

• Financial info: Property contains 3 separate residential units; Each unit has separate gas and electric meters; Owner pays trash collection and water; Rent for units provided: $1,392; $1,430; $1,615 (current/actual rents); One unit leased with lease through February 28, 2027; two units on month-to-month tenancy; Operating expense details: see remarks

Exterior

• Parking: Paved parking with two or more spaces
• Utilities: Public water (connected); Sewer connected
• Home design: 3-story multi-unit property; Brick construction; Existing/resale condition
• Construction: Brick exterior
• Exterior features: City street frontage; Near public transit; Rectangular residential lot (approx. 44 x 132)

Interior

• Kitchen: Eat-in kitchens in all units; Formal dining rooms in two units
• Bedrooms: One 2-bedroom unit; Two 3-bedroom units
• Flooring: Ceramic tile; Hardwood; Laminate; Varied flooring types
• Bathrooms: Three full bathrooms (one per unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $365k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive. Per door: $512/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $365k).
• Recommended offer: $354k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.3% 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 (+8.4%/yr); 55 active listings in the ZIP; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• At $4,752/mo this rent would consume 121% of the median local household income ($47k/yr) (locally 1566% of renters already pay >50% of income on rent) — 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 $3k of loan paydown is wiped out by about $11k 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 $102k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($354k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $135k; list at $365k implies a 170% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $354,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% 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 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.30% ✓
• Cap rate: 11.34%
• Cash-on-cash: 18.04%
• DSCR: 1.80
• GRM: 6.4

CMA / ARV

• ARV (median comp): $249,981
• List price: $365,000
• Delta: 46.01%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
110 Herbert St	0.60mi	9/3.0 (+1)	2,692 (-2%)	8mo	$275,000	$102	57
354 Green St	0.50mi	7/3.0 (-1)	2,784 (+1%)	16mo	$260,000	$93	56
442 S Alvord St	0.45mi	8/2.0	3,012 (+10%)	5mo	$150,000	$50	55
912 N Mcbride St	0.59mi	7/4.0 (-1)	2,786 (+1%)	16mo	$186,000	$67	48
904 Park St	0.46mi	7/2.5 (-1)	2,584 (-6%)	22mo	$195,000	$75	43
606 Pond St	0.66mi	7/2.0 (-1)	3,063 (+12%)	18mo	$165,500	$54	26

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: 1.62×
• Total profit: $63,714
• Equity at exit: $54,423

10-year hold

• IRR: 26.7%
• Equity multiple: 3.89×
• Total profit: $295,326
• Equity at exit: $31,559

Cash invested: $102,200 (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 13203

• Home prices YoY: -11.9%
• Rents YoY: 8.4%
• Active inventory: 55
• Price-to-rent: 19.2×

Monthly cashflow live

• Estimated rent: $4,752 high
• Mortgage (P&I): −$1,914
• Tax from tax record: −$151 /mo · $1,816/yr
• Insurance: −$152
• HOA: −$0
• Vacancy / Maint / Mgmt: −$998
• Net cashflow: $1,537

Break-even live

Break-even rent $2,807

Max offer price $365,000

Occupancy floor 63%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$4,752
Total (3 units)			$4,752

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: $91,250
• Closing costs: $10,950
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $365,000 Active 38 DOM
2. 2026-06-17
   days on market $365,000 Active 37 DOM
3. 2026-06-16
   days on market $365,000 Active 36 DOM
4. 2026-06-15
   days on market $365,000 Active 35 DOM
5. 2026-06-14
   days on market $365,000 Active 33 DOM
6. 2026-06-13
   days on market $365,000 Active 32 DOM
7. 2026-06-10
   days on market $365,000 Active 30 DOM
8. 2026-06-09
   days on market $365,000 Active 29 DOM
9. 2026-06-08
   days on market $365,000 Active 28 DOM
10. 2026-06-07
    days on market $365,000 Active 27 DOM
11. 2026-06-05
    days on market $365,000 Active 24 DOM
12. 2026-06-02
    days on market $365,000 Active 22 DOM
13. 2026-06-01
    days on market $365,000 Active 21 DOM
14. 2026-05-31
    days on market $365,000 Active 20 DOM
15. 2026-05-30
    days on market $365,000 Active 19 DOM
16. 2026-05-11
    listed $380,000 Active 776-char remark
17. 2007-09-05
    soldstatus $135,000
18. 2005-11-15
    soldstatus $128,000

ⓘ 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: $1,816 · $151/mo
• Projected year-2 tax: $3,992 · $333/mo
• Expected delta: +$2,176/yr (+$181/mo · 119.8%)

ⓘ 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 ≥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: $57,024
• − Mortgage interest: −$20,446
• − Property taxes: −$1,816
• − Insurance: −$1,825
• − Repairs & maintenance: −$4,562
• − Management: −$4,562
• − Depreciation: −$10,618
• Taxable income: $13,195
• Est. tax owed @ 24.0%: −$3,167
• After-tax cash flow: $15,272/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): 16,180
• Household income: $46,997
• Rent vs Own: 63.8% rent · 36.2% own
• Severe rent burden: 1566.0

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 0.67)
• 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%

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

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

+185.2% since first listed

4 events — show timeline

• 2026-05-27 Price Changed $365,000 CNYIS
• 2026-05-11 Listed $380,000 CNYIS
• 2007-09-05 Sold (Public Records) $135,000 Public Records
• 2005-11-15 Sold (Public Records) $128,000 Public Records

Property tax history

-0.0%/yr

Latest (2025): $1,816 · +1.0% YoY. Source: county tax records.