315 Spring St · Syracuse, NY 13208

$130,000

2 bd · 1.0 ba · 596 sqft · SingleFamily public records · 57 Days on market

Built 1900 1,748 sqft lot $218/sqft · 99% above area

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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 +21.3/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• 1% rule +4.6/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0

Listing remarks MLS

Northside Bungalow home perfect for investor or Owner Occupancy. Just needs some TLC to bring it up to its full potential. 2 bed, 1 bath home. First Floor Living opportunity.

Key facts

• 1,748 sq ft lot
• Built 1900
• Listed 56 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water connected; Sewer connected
• Home design: Single-story home; Existing construction
• Construction: Composite siding; Block foundation
• Exterior features: Gravel driveway; Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Gas oven; Gas range; Refrigerator
• Bedrooms: One main-level bedroom
• Flooring: Carpet; Laminate; Varied flooring
• Bathrooms: One full bathroom; One half bathroom; One main-level bathroom
• Heating & cooling: Gas heating; Forced air; Gravity heating; Has heating
• Interior features: Eat-in kitchen; Separate/formal living room; Pull-down attic stairs
• Laundry & utility: Laundry in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $190 ($2k/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 $124k (4.3% below list).
• Recommended offer: $124k (4.3% 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: 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; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• This rent runs 33% of the median local income ($45k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $14k of equity ($899 loan paydown + $13k 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 $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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 $65k; list at $130k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $124,428 (4.3% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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: 0.96% ✗
• Cap rate: 8.05%
• Cash-on-cash: 6.27%
• DSCR: 1.28
• GRM: 8.7

CMA / ARV

• ARV (median comp): $65,450
• List price: $130,000
• Delta: 98.63%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.8%
• Equity multiple: 3.28×
• Total profit: $82,861
• Equity at exit: $117,114

10-year hold

• IRR: 25.0%
• Equity multiple: 7.44×
• Total profit: $234,400
• Equity at exit: $252,561

Cash invested: $36,400 (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: 8.7×

Monthly cashflow live

• Estimated rent: $1,244 high
• Mortgage (P&I): −$682
• Tax from tax record: −$57 /mo · $684/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $190

Break-even live

Break-even rent $1,004

Max offer price $130,000

Occupancy floor 80%

Sensitivity live

Price	-10% $264	-5% $227	+0% $190	+5% $153	+10% $116
Rent	-10% $92	-5% $141	+0% $190	+5% $239	+10% $288
Rate	-1.0pp $256	-0.5pp $223	base $190	+0.5pp $156	+1.0pp $122

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
912 Park St Unit 2 Syracuse, NY	1.0	1.0	620	$900	$1.45	45d	1	0.17mi
910 Park St Unit 2 Syracuse, NY	1.0	1.0	650	$950	$1.46	45d	1	0.17mi
416 Danforth St Unit 1F Syracuse, NY	1.0	1.0	550	$1,100	$2.00	45d	1	0.46mi
1206 Spring St Apt 16 Syracuse, NY	1.0	1.0	600	$1,050	$1.75	22d	1	0.55mi
517 N Salina St Unit 4 Syracuse, NY	2.0	1.0	700	$1,050	$1.50	15d	1	0.65mi
1509 N Salina St Unit 1 Syracuse, NY	1.0	1.0	600	$1,050	$1.75	45d	1	0.75mi
600 James St Syracuse, NY	1.0	1.0	492	$1,450	$2.94	15d	9	0.91mi
1132 Wolf St Apt 1 Syracuse, NY	1.0	1.0	630	$1,000	$1.59	45d	1	1.07mi
101 S Salina St Syracuse, NY	2.0	1.0	651	$2,871	$4.41	15d	14	1.20mi
212 Dorchester Ave Syracuse, NY	1.0–2.0	1.0	640	$1,420	$2.22	14d	15	1.21mi
317 S Clinton St Unit 3C/B3 Syracuse, NY	1.0	1.0	700	$1,675	$2.39	15d	1	1.33mi
110 Walton St Unit 203 Syracuse, NY	1.0	1.0	701	$1,600	$2.28	22d	1	1.34mi
110 Walton St Unit 303 Syracuse, NY	1.0	1.0	725	$1,700	$2.34	45d	1	1.34mi
712 E Fayette St Syracuse, NY	1.0	1.0	720	$1,698	$2.36	15d	10	1.34mi
120 Walton St Syracuse, NY	1.0–2.0	1.0–2.0	825	$3,200	$3.88	45d	2	1.34mi
201 E Jefferson St Syracuse, NY	2.0	1.0	662	$1,626	$2.45	15d	9	1.37mi
900 E Fayette St Syracuse, NY	1.0–2.0	1.0	817	$1,995	$2.44	15d	9	1.39mi
60 Presidential Plz Syracuse, NY	1.0–2.0	1.0–1.5	970	$1,315	$1.36	45d	1	1.46mi

Listing history 26 events

1. 2026-06-21
   days on market $130,000 Active 57 DOM
2. 2026-06-18
   days on market $130,000 Active 54 DOM
3. 2026-06-17
   days on market $130,000 Active 53 DOM
4. 2026-06-16
   days on market $130,000 Active 52 DOM
5. 2026-06-15
   days on market $130,000 Active 51 DOM
6. 2026-06-14
   days on market $130,000 Active 49 DOM
7. 2026-06-13
   days on market $130,000 Active 48 DOM
8. 2026-06-10
   days on market $130,000 Active 46 DOM
9. 2026-06-09
   days on market $130,000 Active 45 DOM
10. 2026-06-08
    days on market $130,000 Active 44 DOM
11. 2026-06-07
    days on market $130,000 Active 43 DOM
12. 2026-06-05
    days on market $130,000 Active 40 DOM
13. 2026-06-02
    days on market $130,000 Active 38 DOM
14. 2026-06-01
    days on market $130,000 Active 37 DOM
15. 2026-05-31
    days on market $130,000 Active 36 DOM
16. 2026-05-30
    days on market $130,000 Active 35 DOM
17. 2026-04-25
    listed $130,000 Active 183-char remark
18. 2022-08-22
    soldstatus $65,000
19. 2020-10-16
    soldstatus $23,900 Closed Sale or Rented 174-char remark

    Show marketing remark (174 chars)

    Northside Bungalow home perfect for investor or Owner Occupancy. Just needs some TLC to bring it up to its full potential. 2 bed, 1 bath home. First Floor Living opportunity.

20. 2020-09-19
    status Under Contract- Do Not Show 174-char remark

    Show marketing remark (174 chars)

    Northside Bungalow home perfect for investor or Owner Occupancy. Just needs some TLC to bring it up to its full potential. 2 bed, 1 bath home. First Floor Living opportunity.

21. 2020-09-09
    price $23,900 174-char remark

    Show marketing remark (174 chars)

    Northside Bungalow home perfect for investor or Owner Occupancy. Just needs some TLC to bring it up to its full potential. 2 bed, 1 bath home. First Floor Living opportunity.

22. 2020-07-11
    price $26,900 174-char remark

    Show marketing remark (174 chars)

    Northside Bungalow home perfect for investor or Owner Occupancy. Just needs some TLC to bring it up to its full potential. 2 bed, 1 bath home. First Floor Living opportunity.

23. 2020-06-02
    price $27,900 174-char remark

    Show marketing remark (174 chars)

    Northside Bungalow home perfect for investor or Owner Occupancy. Just needs some TLC to bring it up to its full potential. 2 bed, 1 bath home. First Floor Living opportunity.

24. 2020-05-01
    price $28,900 174-char remark

    Show marketing remark (174 chars)

    Northside Bungalow home perfect for investor or Owner Occupancy. Just needs some TLC to bring it up to its full potential. 2 bed, 1 bath home. First Floor Living opportunity.

25. 2020-03-02
    listed $29,900 Active 174-char remark

    Show marketing remark (174 chars)

    Northside Bungalow home perfect for investor or Owner Occupancy. Just needs some TLC to bring it up to its full potential. 2 bed, 1 bath home. First Floor Living opportunity.

26. 1995-04-06
    soldstatus $24,900

ⓘ 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: $684 · $57/mo
• Projected year-2 tax: $1,441 · $120/mo
• Expected delta: +$756/yr (+$63/mo · 110.6%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 23% 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: $14,931
• − Mortgage interest: −$7,282
• − Property taxes: −$684
• − Insurance: −$650
• − Repairs & maintenance: −$1,195
• − Management: −$1,195
• − Depreciation: −$3,782
• Taxable income: $144
• Est. tax owed @ 24.0%: −$35
• After-tax cash flow: $2,246/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): 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

+422.1% since first listed

10 events — show timeline

• 2026-04-25 Listed $130,000 CNYIS
• 2022-08-22 Sold (Public Records) $65,000 Public Records
• 2020-10-16 Sold (MLS) $23,900 CNYIS
• 2020-09-19 Pending — CNYIS
• 2020-09-09 Price Changed $23,900 CNYIS
• 2020-07-11 Price Changed $26,900 CNYIS
• 2020-06-02 Price Changed $27,900 CNYIS
• 2020-05-01 Price Changed $28,900 CNYIS
• 2020-03-02 Listed $29,900 CNYIS
• 1995-04-06 Sold (Public Records) $24,900 Public Records

Property tax history

-1.1%/yr

Latest (2025): $684 · +2.0% YoY. Source: county tax records.