121 Sedgwick St · Syracuse, NY 13203

$279,000

6 bd · 2.0 ba · 3,140 sqft · MultiFamily public records · 173 Days on market

Built 1920 5,400 sqft lot $89/sqft · at area comps Est $278k · at est.

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Why this score? — see what drove the B- 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 +8.5/10.0
• ARV discount +7.3/15.0
• Rent growth +4.6/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

GREAT side-by-side two-family in the heart of Syracuse. This fully leased property features two spacious units, each offering 3 bedrooms and 1.5 bathrooms , a highly sought-after configuration that’s increasingly hard to find. Both units have separate utilities, making ownership straightforward and operating expenses easy to manage. With strong in-place tenancy, this property delivers cash flow from day one. An ideal addition to an existing portfolio, or a smart, low-friction entry point for buyers looking to get started in real estate investing. Solid layout, proven income, and minimal complication—this is one of the easy ones.

Key facts

• 5,400 sq ft lot
• Built 1920
• Listed 173 days

What this means for you Summary

Snapshot

• This is a 2 × 3.0-bed/1.5-bath units multifamily listed at $279k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $624/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $279k).
• Recommended offer: $246k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.7% 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: 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: Dr Weeks Elementary School (math 4% / reading 12%, grade F, #2,086 of 2,108 statewide, top 99%, 714 students, 91% 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).
• Market conditions: Rents rising fast (+8.4%/yr); 55 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).
• At $3,763/mo this rent would consume 96% 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 $2k of loan paydown is wiped out by about $8k 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 $78k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 173 days — a 12% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $69k; list at $279k implies a 304% 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 $245,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 173 days. Have you received any prior offers? Is the seller open to a 12% 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: 1.35% ✓
• Cap rate: 11.66%
• Cash-on-cash: 19.18%
• DSCR: 1.85
• GRM: 6.2

CMA / ARV

• ARV (median comp): $277,809
• List price: $279,000
• Delta: 1.51%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
137-139 Highland Ave	0.49mi	6/2.0	3,083 (-2%)	20mo	$230,200	$75	58
204 Helen St	0.42mi	6/2.0	2,687 (-14%)	8mo	$217,150	$81	49
822 Oak St #24	0.42mi	5/4.0 (-1)	3,220 (+2%)	18mo	$260,000	$81	48
416 Shuart Ave	0.33mi	6/2.0	2,692 (-14%)	16mo	$180,000	$67	47
354 Green St	0.35mi	7/3.0 (+1)	2,784 (-11%)	16mo	$260,000	$93	42
345 Elm St	0.41mi	6/2.0	2,736 (-13%)	23mo	$37,000	$14	40
1927 James St	0.68mi	6/2.0	2,704 (-14%)	6mo	$180,000	$67	40
801 Dewitt St	0.70mi	6/2.0	2,672 (-15%)	18mo	$231,000	$86	27
1524 Teall Ave #26	0.74mi	5/2.0 (-1)	2,752 (-12%)	23mo	$210,000	$76	20

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: 16.3%
• Equity multiple: 1.69×
• Total profit: $54,136
• Equity at exit: $41,600

10-year hold

• IRR: 28.1%
• Equity multiple: 4.07×
• Total profit: $239,779
• Equity at exit: $24,123

Cash invested: $78,120 (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: 12.4×

Monthly cashflow live

• Estimated rent: $3,763 high
• Mortgage (P&I): −$1,463
• Tax from tax record: −$145 /mo · $1,737/yr
• Insurance: −$116
• HOA: −$0
• Vacancy / Maint / Mgmt: −$790
• Net cashflow: $1,249

Break-even live

Break-even rent $2,182

Max offer price $279,000

Occupancy floor 62%

Sensitivity live

Price	-10% $1,407	-5% $1,328	+0% $1,249	+5% $1,170	+10% $1,091
Rent	-10% $951	-5% $1,100	+0% $1,249	+5% $1,397	+10% $1,546
Rate	-1.0pp $1,389	-0.5pp $1,320	base $1,249	+0.5pp $1,176	+1.0pp $1,103

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

Units	Beds	Baths	Est. rent
▸ 2× units	3.0	1.5	$3,764
Total (2 units)			$3,763

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: $69,750
• Closing costs: $8,370
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
365 Green St Syracuse, NY	5.0	3.5	2263	$3,300	$1.46	22d	1	0.30mi

Listing history 23 events

1. 2026-06-21
   pricedays on market $279,000 Active 173 DOM
2. 2026-06-18
   days on market $282,000 Active 170 DOM
3. 2026-06-17
   days on market $282,000 Active 169 DOM
4. 2026-06-16
   days on market $282,000 Active 168 DOM
5. 2026-06-15
   days on market $282,000 Active 167 DOM
6. 2026-06-14
   days on market $282,000 Active 165 DOM
7. 2026-06-13
   days on market $282,000 Active 164 DOM
8. 2026-06-10
   days on market $282,000 Active 162 DOM
9. 2026-06-09
   days on market $282,000 Active 161 DOM
10. 2026-06-08
    days on market $282,000 Active 160 DOM
11. 2026-06-07
    days on market $282,000 Active 159 DOM
12. 2026-06-05
    days on market $282,000 Active 156 DOM
13. 2026-06-02
    days on market $282,000 Active 154 DOM
14. 2026-06-01
    days on market $282,000 Active 153 DOM
15. 2026-05-31
    days on market $282,000 Active 152 DOM
16. 2026-05-30
    days on market $282,000 Active 151 DOM
17. 2026-03-26
    price $282,000 648-char remark

    Show marketing remark (648 chars)

    GREAT side-by-side two-family in the heart of Syracuse. This fully leased property features two spacious units, each offering 3 bedrooms and 1.5 bathrooms , a highly sought-after configuration that’s increasingly hard to find. Both units have separate utilities, making ownership straightforward and operating expenses easy to manage. With strong in-place tenancy, this property delivers cash flow from day one. An ideal addition to an existing portfolio, or a smart, low-friction entry point for buyers looking to get started in real estate investing. Solid layout, proven income, and minimal complication—this is one of the easy ones.

18. 2026-02-26
    status Active 648-char remark

    Show marketing remark (648 chars)

    GREAT side-by-side two-family in the heart of Syracuse. This fully leased property features two spacious units, each offering 3 bedrooms and 1.5 bathrooms , a highly sought-after configuration that’s increasingly hard to find. Both units have separate utilities, making ownership straightforward and operating expenses easy to manage. With strong in-place tenancy, this property delivers cash flow from day one. An ideal addition to an existing portfolio, or a smart, low-friction entry point for buyers looking to get started in real estate investing. Solid layout, proven income, and minimal complication—this is one of the easy ones.

19. 2026-02-23
    historical Active Under Contract 648-char remark

    Show marketing remark (648 chars)

    GREAT side-by-side two-family in the heart of Syracuse. This fully leased property features two spacious units, each offering 3 bedrooms and 1.5 bathrooms , a highly sought-after configuration that’s increasingly hard to find. Both units have separate utilities, making ownership straightforward and operating expenses easy to manage. With strong in-place tenancy, this property delivers cash flow from day one. An ideal addition to an existing portfolio, or a smart, low-friction entry point for buyers looking to get started in real estate investing. Solid layout, proven income, and minimal complication—this is one of the easy ones.

20. 2026-02-23
    status Active 648-char remark

    Show marketing remark (648 chars)

    GREAT side-by-side two-family in the heart of Syracuse. This fully leased property features two spacious units, each offering 3 bedrooms and 1.5 bathrooms , a highly sought-after configuration that’s increasingly hard to find. Both units have separate utilities, making ownership straightforward and operating expenses easy to manage. With strong in-place tenancy, this property delivers cash flow from day one. An ideal addition to an existing portfolio, or a smart, low-friction entry point for buyers looking to get started in real estate investing. Solid layout, proven income, and minimal complication—this is one of the easy ones.

21. 2026-02-20
    historical Active Under Contract 648-char remark

    Show marketing remark (648 chars)

    GREAT side-by-side two-family in the heart of Syracuse. This fully leased property features two spacious units, each offering 3 bedrooms and 1.5 bathrooms , a highly sought-after configuration that’s increasingly hard to find. Both units have separate utilities, making ownership straightforward and operating expenses easy to manage. With strong in-place tenancy, this property delivers cash flow from day one. An ideal addition to an existing portfolio, or a smart, low-friction entry point for buyers looking to get started in real estate investing. Solid layout, proven income, and minimal complication—this is one of the easy ones.

22. 2025-12-30
    listed $285,000 Active 648-char remark

    Show marketing remark (648 chars)

    GREAT side-by-side two-family in the heart of Syracuse. This fully leased property features two spacious units, each offering 3 bedrooms and 1.5 bathrooms , a highly sought-after configuration that’s increasingly hard to find. Both units have separate utilities, making ownership straightforward and operating expenses easy to manage. With strong in-place tenancy, this property delivers cash flow from day one. An ideal addition to an existing portfolio, or a smart, low-friction entry point for buyers looking to get started in real estate investing. Solid layout, proven income, and minimal complication—this is one of the easy ones.

23. 2008-09-19
    soldstatus $69,000

ⓘ 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: $1,737 · $145/mo
• Projected year-2 tax: $3,226 · $269/mo
• Expected delta: +$1,489/yr (+$124/mo · 85.7%)

ⓘ 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 · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 100% 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: $45,156
• − Mortgage interest: −$15,628
• − Property taxes: −$1,737
• − Insurance: −$1,395
• − Repairs & maintenance: −$3,612
• − Management: −$3,612
• − Depreciation: −$8,116
• Taxable income: $11,054
• Est. tax owed @ 24.0%: −$2,653
• After-tax cash flow: $12,331/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

+308.7% since first listed

7 events — show timeline

• 2026-03-26 Price Changed $282,000 CNYIS
• 2026-02-26 Relisted — CNYIS
• 2026-02-23 Contingent — CNYIS
• 2026-02-23 Relisted — CNYIS
• 2026-02-20 Contingent — CNYIS
• 2025-12-30 Listed $285,000 CNYIS
• 2008-09-19 Sold (Public Records) $69,000 Public Records

Property tax history

-0.5%/yr

Latest (2025): $1,737 · +0.0% YoY. Source: county tax records.