326 Grant Blvd #28 · Syracuse, NY 13206

$239,000

4 bd · 2.0 ba · 1,512 sqft · Condo public records · 45 Days on market

Built 1965 Est $162k · 48% over

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Why this score? — see what drove the D- 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 +15.1/30.0
• DSCR +4.6/10.0
• Rent growth +4.0/5.0
• Livability +3.9/5.0
• 1% rule +3.3/10.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Turnkey 2-Unit Investment or Owner-Occupant Opportunity – 326 Grant Blvd, Syracuse, NY well-maintained, turnkey two-family property offering immediate opportunity for both investors and owner-occupants alike. Each unit features 2 bedrooms and a functional layout designed for comfortable everyday living. This property includes separate utilities for each unit, allowing for simplified management and reduced operating expenses. A standout feature is the presence of two — that’s TWO — private driveways, providing dedicated off-street parking for each tenant. Whether you're looking to live in one unit while generating rental income from the other or add a low-maintenance

Key facts

• Separate utilities
• 8,716 sq ft lot
• 2 parking spots

Tags

• TWO PRIVATE DRIVEWAYS
• SEPARATE UTILITIES

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath condo listed at $239k.

Deal economics

• At list price, monthly cash flow is $78 ($938/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $198k (17.3% below list).
• Recommended offer: $198k (17.3% below list) — sets the bar for 1% rule.

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); 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) — zoned schools at 72% FRL track the district average.
• Zoned-school proficiency averages 38% at this address vs 22% district-wide (+16 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: Rents rising fast (+5.8%/yr); 43 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• This rent runs 38% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($232k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago; this cycle's ask is 17604% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $50k; list at $239k implies a 378% gain — meaningful room to come down on a strong offer.

Recommended offer $197,628 (17.3% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.83% ✗
• Cap rate: 6.69%
• Cash-on-cash: 1.40%
• DSCR: 1.06
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $161,784
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
312 Marlborough Rd #14	0.42mi	4/2.0	1,632 (+8%)	12mo	$174,900	$107	57

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 · 5.85% rent growth · sell at horizon

5-year hold

• IRR: -11.2%
• Equity multiple: 0.58×
• Total profit: $-27,994
• Equity at exit: $35,636

10-year hold

• IRR: 1.3%
• Equity multiple: 1.11×
• Total profit: $7,094
• Equity at exit: $20,664

Cash invested: $66,920 (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 13206

• Home prices YoY: -7.1%
• Rents YoY: 5.8%
• Active inventory: 43
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,976 high
• Mortgage (P&I): −$1,253
• Tax from tax record: −$130 /mo · $1,562/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $78

Break-even live

Break-even rent $1,877

Max offer price $239,000

Occupancy floor 91%

Sensitivity live

Price	-10% $213	-5% $146	+0% $78	+5% $11	+10% $-57
Rent	-10% $-78	-5% $0	+0% $78	+5% $156	+10% $234
Rate	-1.0pp $199	-0.5pp $139	base $78	+0.5pp $16	+1.0pp $-47

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1801 James St #2 Syracuse, NY	3.0	1.0	1244	$1,800	$1.45	15d	1	0.37mi
202 Stafford Ave Syracuse, NY	3.0	1.0	1692	$1,800	$1.06	15d	1	0.51mi
423 Wendell Ter Syracuse, NY	4.0	1.0	1312	$2,500	$1.91	15d	1	0.51mi
297 Norwood Ave Syracuse, NY	3.0	1.0	1188	$2,050	$1.73	23d	1	0.52mi
204 Mariposa St Unit pvt house Syracuse, NY	3.0	1.0	1128	$2,137	$1.89	15d	1	0.63mi
126 Woodruff Ave Syracuse, NY	3.0	1.0	1200	$1,675	$1.40	45d	1	0.89mi
746 E Laurel St Unit 1 Syracuse, NY	4.0	2.0	1400	$1,500	$1.07	45d	1	1.38mi
286 Ross Park Syracuse, NY	3.0	1.0	1100	$1,500	$1.36	46d	1	1.43mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-04-09
   status Pending
2. 2026-03-14
   historical $1,350
3. 2026-03-13
   historical Active Under Contract
4. 2026-02-26
   listed $1,350
5. 2026-02-26
   price $239,000
6. 2026-02-22
   listed $220,000 Active
7. 2019-02-25
   soldstatus $50,000
8. 2018-01-08
   status Under Contract- Do Not Show
9. 2018-01-08
   historical
10. 2018-01-04
    listed $90,000 Active

ⓘ 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: $1,562 · $130/mo
• Projected year-2 tax: $2,800 · $233/mo
• Expected delta: +$1,239/yr (+$103/mo · 79.3%)

ⓘ 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 · 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: $23,715
• − Mortgage interest: −$13,388
• − Property taxes: −$1,562
• − Insurance: −$1,195
• − Repairs & maintenance: −$1,897
• − Management: −$1,897
• − Depreciation: −$6,953
• Taxable loss: −$3,176
• Est. tax savings @ 24.0%: +$762
• After-tax cash flow: $1,701/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): 16,245
• Household income: $63,136
• Rent vs Own: 42.5% rent · 57.5% own
• Severe rent burden: 725.0

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: Predominantly White (67%)
• Race & ethnicity: White 67% Black 13% Two or more races 9% Hispanic / Latino 8% Asian 5%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 6% Lithuanian 4% Slovak 2%
• Foreign-born: 8% · Canada, Jamaica, China
• Languages at home: 89% English-only · Spanish 3% Arabic 2% Other Indo-European 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: ▼ -24.60%
• Current HPI: 322.231
• Rent YoY: ▲ 5.85%
• 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

-98.5% since first listed

10 events — show timeline

• 2026-04-09 Pending — CNYIS
• 2026-03-14 Rental Removed $1,350 CNYIS
• 2026-03-13 Contingent — CNYIS
• 2026-02-26 Listed for Rent $1,350 CNYIS
• 2026-02-26 Price Changed $239,000 CNYIS
• 2026-02-22 Listed $220,000 CNYIS
• 2019-02-25 Sold (Public Records) $50,000 Public Records
• 2018-01-08 Pending — CNYIS
• 2018-01-08 Listing Removed — CNYIS
• 2018-01-04 Listed $90,000 CNYIS

Property tax history

+0.2%/yr

Latest (2025): $1,562 · +0.0% YoY. Source: county tax records.