6118 Smith Rd · North Syracuse, NY 13212

$239,900

3 bd · 1.5 ba · 1,384 sqft · SingleFamily public records · 12 Days on market

Built 1962 0.36 ac lot Est $252k · at est.

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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 +13.6/30.0
• ARV discount +9.6/15.0
• 1% rule +4.4/10.0
• Schools +4.2/10.0
• DSCR +4.1/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Spacious and desirable ranch with so much to offer including addition with fireplaced family room, owners bedroom, half bath and walk in closet, first floor laundry - washer and dryer stays- spacious kitchen with newer stainless steel appliances and center island. Hardwood floors in living room and 2 bedrooms. Extra large 2 car garage great for the hobbies and all the toys. So convenient yet private location close to shopping, schools and shopping. Taxes listed with no exemptions. Sold As-Is by Trustee.

Key facts

• First floor laundry
• Spacious kitchen
• Walk in closet

Tags

• FIREPLACED FAMILY ROOM
• OWNERS BEDROOM
• WALK IN CLOSET
• FIRST FLOOR LAUNDRY
• SPACIOUS KITCHEN
• CENTER ISLAND

Property features AI

Exterior

• Parking: Attached garage with garage door opener; 2-car garage
• Utilities: Public water connected; Sewer connected; Cable available; Electric with circuit breakers
• Home design: Single-story home; Existing construction
• Construction: Frame construction with vinyl siding; Shingle roof; Block foundation; Copper plumbing
• Exterior features: Blacktop driveway; Deck; Fully fenced yard; Shed(s)/storage; Wooded lot; Near public transit; Irregular lot dimensions 180 x 86

Interior

• Kitchen: Built-in range; Built-in oven; Electric cooktop; Dishwasher; Refrigerator; Kitchen island; Eat-in kitchen
• Bedrooms: Three main-level bedrooms
• Flooring: Hardwood; Carpet; Laminate; Varies
• Bathrooms: One full bathroom; One half bathroom; Two main-level bathrooms
• Heating & cooling: Gas forced-air heating
• Interior features: Dining area; Eat-in kitchen; Separate/formal living room; Kitchen island; Sliding glass door(s); Bedroom on main level; Bath in primary bedroom; Main level primary; Sliding doors; Partial basement with sump pump; Total of 8 rooms including living, family, bedrooms, and laundry
• Laundry & utility: Main-level laundry; Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $13 ($153/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 $225k (6.2% below list).
• Recommended offer: $225k (6.2% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 5.1% in North Syracuse — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 72/100 on livability (#379 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: schools C-, crime D, amenities F.
• North Syracuse Central School District (suburban): math 45% / reading 50% proficiency, ranked #402 of 590 in NY (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 66 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).

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

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $225,000 (6.2% below list)

Questions for the listing agent

1. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is D 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.94% ✗
• Cap rate: 6.36%
• Cash-on-cash: 0.23%
• DSCR: 1.01
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $251,888
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7565 Totman Rd	0.21mi	3/2.5	1,344 (-3%)	12mo	$244,900	$182	72
6180 Ridgecrest Dr	0.29mi	3/1.5	1,450 (+5%)	14mo	$276,000	$190	67
107 Colonial Dr	0.62mi	3/1.0	1,307 (-6%)	4mo	$260,000	$199	57
6137 Ridgecrest Dr	0.31mi	3/1.5	1,560 (+13%)	12mo	$265,000	$170	54
105 Woodland Dr	0.67mi	2/1.0 (-1)	1,397 (+1%)	11mo	$230,000	$165	51
5943 Smith Rd	0.70mi	3/1.5	1,288 (-7%)	6mo	$198,000	$154	51
7706 Thompson Rd	0.66mi	3/2.0	1,304 (-6%)	15mo	$179,900	$138	45
213 Ridgewood Dr	0.70mi	3/1.5	1,538 (+11%)	8mo	$225,000	$146	43
7439 Rosewood Cir	0.64mi	3/2.5	1,252 (-10%)	14mo	$270,000	$216	39
5987 Rose St	0.75mi	3/1.5	1,270 (-8%)	16mo	$265,000	$209	38
6065 Deersprings Rd	0.66mi	2/1.0 (-1)	1,496 (+8%)	13mo	$215,000	$144	38
7756 Signet Ln	0.73mi	3/2.0	1,520 (+10%)	13mo	$290,000	$191	37

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -15.9%
• Equity multiple: 0.43×
• Total profit: $-37,960
• Equity at exit: $35,770

10-year hold

• IRR: -7.4%
• Equity multiple: 0.53×
• Total profit: $-31,601
• Equity at exit: $20,742

Cash invested: $67,172 (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 13212

• Active inventory: 66
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,250 medium
• Mortgage (P&I): −$1,258
• Tax from tax record: −$407 /mo · $4,880/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$472
• Net cashflow: $13

Break-even live

Break-even rent $2,234

Max offer price $239,900

Occupancy floor 94%

Sensitivity live

Price	-10% $149	-5% $81	+0% $13	+5% $-55	+10% $-123
Rent	-10% $-165	-5% $-76	+0% $13	+5% $102	+10% $191
Rate	-1.0pp $134	-0.5pp $74	base $13	+0.5pp $-49	+1.0pp $-113

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
107 Stephen Pl Syracuse, NY	2.0	1.0	1199	$2,250	$1.88	45d	1	0.81mi

Listing history 3 events

1. 2026-05-20
   status Pending
2. 2026-05-12
   historical Active Under Contract
3. 2026-05-07
   listed $239,900 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: $4,880 · $407/mo
• Projected year-2 tax: $4,880 · $407/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 70% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $27,000
• − Mortgage interest: −$13,438
• − Property taxes: −$4,880
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,160
• − Management: −$2,160
• − Depreciation: −$6,979
• Taxable loss: −$3,817
• Est. tax savings @ 24.0%: +$916
• After-tax cash flow: $1,070/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: North Syracuse Central School District
• NCES district ID: 3621210
• Math proficiency: 45% ▼ -9.00%
• Reading proficiency: 50% ▲ 1.00%
• Median HH income: $62,904
• Composite: 41.93/100
• National rank: #3356
• State rank: #402 of 590 in NY

Livability — North Syracuse

• Score: 72/100
• State rank: #379
• US rank: #6513

Category grades

Amenities F Commute F Cost of living A Crime D Employment C Housing A+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 20,185
• Population (ZIP): 20,185

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 (90%)
• Race & ethnicity: White 90% Two or more races 5% Hispanic / Latino 4% Black 1%
• Common ancestry: Romanian 10% Lithuanian 5% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 2% German/W. Germanic 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: ▼ -210.93%
• Current HPI: 317.7322
• Rent YoY: —
• Metro: —
• 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

3 events — show timeline

• 2026-05-20 Pending — CNYIS
• 2026-05-12 Contingent — CNYIS
• 2026-05-07 Listed $239,900 CNYIS

Property tax history

+12.7%/yr

Latest (2025): $4,880 · +3.3% YoY. Source: county tax records.