709 Oak St · Syracuse, NY 13203

$260,000

6 bd · 3.0 ba · 2,476 sqft · MultiFamily public records · 33 Days on market

Built 1890 6,072 sqft lot Est $186k · 40% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Investors, this is a great opportunity to own a 3 unit with good cash flow. Long term tenants have occupied the property. Two downstairs units are tenant occupied and the three bedroom unit upstairs is now vacant and the new landlord can place their own tenant. Rent listed reflects what the last tenant was paying. Current owner has replaced roof, windows and the heat and hot water heater since owning the property. This is also an opportunity for someone to be owner occupied and move into the three bedroom upstairs! Twenty four notice to show is required.

Key facts

• Updated appliances
• Driveway with garage
• Fully remodeled

Tags

• THREE UNIT MULTIFAMILY
• FULLY REMODELED
• MODERN FINISHES
• UPDATED APPLIANCES
• DRIVEWAY WITH GARAGE
• ENCLOSED FRONT PORCH

Property features AI

Finance

• Financial info: Property has three separate electric meters and three separate gas meters; Three total dwelling units; Owner pays water; water included in rent; Operating expenses include water; Current advertised rents by unit: $1,400; $1,100; $1,600

Exterior

• Parking: Garage (1-car) and paved parking with two or more spaces
• Utilities: Public water connected; Sewer connected
• Home design: Two-story multi-family building; Existing construction with wood siding
• Construction: Wood siding exterior
• Exterior features: Near public transit; Rectangular residential lot; City street frontage; Lot dimensions approximately 46 x 132

Interior

• Kitchen: Units include oven/range and refrigerator; Microwave in some units; Eat-in kitchen in at least one unit; formal dining in others
• Bedrooms: Three units: 2-bedroom unit, 1-bedroom unit, 3-bedroom unit
• Flooring: Hardwood; Marble; Varies
• Bathrooms: Three full bathrooms (one per unit)
• Heating & cooling: Forced air heating; Electric and gas heating sources
• Interior features: Full basement; Marble and hardwood flooring; flooring varies by area
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath multifamily listed at $260k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $260k).
• Recommended offer: $252k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.9% 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; 1 comparable units currently listed for rent nearby; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• At $4,396/mo this rent would consume 112% 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 $73k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($252k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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 $120k; list at $260k implies a 117% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $252,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — 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 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: 1.69% ✓
• Cap rate: 14.88%
• Cash-on-cash: 30.68%
• DSCR: 2.37
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $185,700
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
307 Graves St	0.18mi	6/2.0	2,448 (-1%)	7mo	$175,000	$71	80
613-615 Highland St	0.28mi	6/2.0	2,316 (-6%)	2mo	$140,000	$60	70
204 Helen St	0.15mi	6/2.0	2,687 (+8%)	8mo	$217,150	$81	68
115 John St	0.64mi	5/2.0 (-1)	2,516 (+2%)	5mo	$120,000	$48	54
210 Delhi St	0.53mi	6/2.0	2,664 (+8%)	11mo	$165,000	$62	49
—	0.72mi	6/2.0	2,550 (+3%)	11mo	$190,000	$75	48
129 Spring St	0.50mi	6/3.0	2,112 (-15%)	6mo	$211,000	$100	47
1354 Oak St	0.55mi	5/2.0 (-1)	2,625 (+6%)	11mo	$185,000	$70	46
128 John St	0.60mi	5/2.0 (-1)	2,269 (-8%)	6mo	$129,000	$57	44
1356 Oak St	0.56mi	6/2.0	2,772 (+12%)	10mo	$212,000	$76	42
1403 Oak St #5	0.58mi	6/2.0	2,808 (+13%)	6mo	$220,000	$78	41
107 Craton St	0.74mi	5/2.0 (-1)	2,228 (-10%)	7mo	$280,000	$126	34

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: 30.7%
• Equity multiple: 2.37×
• Total profit: $99,615
• Equity at exit: $38,767

10-year hold

• IRR: 40.5%
• Equity multiple: 5.74×
• Total profit: $344,954
• Equity at exit: $22,480

Cash invested: $72,800 (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: 13.6×

Monthly cashflow live

• Estimated rent: $4,396 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$140 /mo · $1,674/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$923
• Net cashflow: $1,862

Break-even live

Break-even rent $2,040

Max offer price $260,000

Occupancy floor 53%

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,591
1× unit	2	1	$1,453
1× unit	1	1	$1,352
Total (3 units)			$4,396

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: $65,000
• Closing costs: $7,800
• 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	21d	1	0.39mi

Listing history 28 events

1. 2026-06-18
   days on market $260,000 Active 33 DOM
2. 2026-06-17
   days on market $260,000 Active 32 DOM
3. 2026-06-16
   days on market $260,000 Active 31 DOM
4. 2026-06-15
   days on market $260,000 Active 30 DOM
5. 2026-06-14
   days on market $260,000 Active 28 DOM
6. 2026-06-13
   days on market $260,000 Active 27 DOM
7. 2026-06-10
   days on market $260,000 Active 25 DOM
8. 2026-06-09
   days on market $260,000 Active 24 DOM
9. 2026-06-08
   days on market $260,000 Active 23 DOM
10. 2026-06-07
    days on market $260,000 Active 22 DOM
11. 2026-06-05
    days on market $260,000 Active 19 DOM
12. 2026-06-02
    days on market $260,000 Active 17 DOM
13. 2026-06-01
    days on market $260,000 Active 16 DOM
14. 2026-05-31
    days on market $260,000 Active 15 DOM
15. 2026-05-30
    days on market $260,000 Active 14 DOM
16. 2026-05-21
    status Active
17. 2026-04-29
    status Pending
18. 2026-04-24
    listed $260,000 Active
19. 2022-11-01
    soldstatus $120,000
20. 2022-10-18
    soldstatus $120,000 Closed Sale or Rented 560-char remark

    Show marketing remark (560 chars)

    Investors, this is a great opportunity to own a 3 unit with good cash flow. Long term tenants have occupied the property. Two downstairs units are tenant occupied and the three bedroom unit upstairs is now vacant and the new landlord can place their own tenant. Rent listed reflects what the last tenant was paying. Current owner has replaced roof, windows and the heat and hot water heater since owning the property. This is also an opportunity for someone to be owner occupied and move into the three bedroom upstairs! Twenty four notice to show is required.

21. 2022-09-16
    status Pending Sale 560-char remark

    Show marketing remark (560 chars)

    Investors, this is a great opportunity to own a 3 unit with good cash flow. Long term tenants have occupied the property. Two downstairs units are tenant occupied and the three bedroom unit upstairs is now vacant and the new landlord can place their own tenant. Rent listed reflects what the last tenant was paying. Current owner has replaced roof, windows and the heat and hot water heater since owning the property. This is also an opportunity for someone to be owner occupied and move into the three bedroom upstairs! Twenty four notice to show is required.

22. 2022-08-13
    status Under Contract- Do Not Show 560-char remark

    Show marketing remark (560 chars)

    Investors, this is a great opportunity to own a 3 unit with good cash flow. Long term tenants have occupied the property. Two downstairs units are tenant occupied and the three bedroom unit upstairs is now vacant and the new landlord can place their own tenant. Rent listed reflects what the last tenant was paying. Current owner has replaced roof, windows and the heat and hot water heater since owning the property. This is also an opportunity for someone to be owner occupied and move into the three bedroom upstairs! Twenty four notice to show is required.

23. 2022-08-10
    status Active 560-char remark

    Show marketing remark (560 chars)

    Investors, this is a great opportunity to own a 3 unit with good cash flow. Long term tenants have occupied the property. Two downstairs units are tenant occupied and the three bedroom unit upstairs is now vacant and the new landlord can place their own tenant. Rent listed reflects what the last tenant was paying. Current owner has replaced roof, windows and the heat and hot water heater since owning the property. This is also an opportunity for someone to be owner occupied and move into the three bedroom upstairs! Twenty four notice to show is required.

24. 2022-04-27
    status Pending Sale 560-char remark

    Show marketing remark (560 chars)

    Investors, this is a great opportunity to own a 3 unit with good cash flow. Long term tenants have occupied the property. Two downstairs units are tenant occupied and the three bedroom unit upstairs is now vacant and the new landlord can place their own tenant. Rent listed reflects what the last tenant was paying. Current owner has replaced roof, windows and the heat and hot water heater since owning the property. This is also an opportunity for someone to be owner occupied and move into the three bedroom upstairs! Twenty four notice to show is required.

25. 2022-03-18
    historical Continue to Show- Under Contract 560-char remark

    Show marketing remark (560 chars)

    Investors, this is a great opportunity to own a 3 unit with good cash flow. Long term tenants have occupied the property. Two downstairs units are tenant occupied and the three bedroom unit upstairs is now vacant and the new landlord can place their own tenant. Rent listed reflects what the last tenant was paying. Current owner has replaced roof, windows and the heat and hot water heater since owning the property. This is also an opportunity for someone to be owner occupied and move into the three bedroom upstairs! Twenty four notice to show is required.

26. 2022-03-14
    listed $124,900 Active 560-char remark

    Show marketing remark (560 chars)

    Investors, this is a great opportunity to own a 3 unit with good cash flow. Long term tenants have occupied the property. Two downstairs units are tenant occupied and the three bedroom unit upstairs is now vacant and the new landlord can place their own tenant. Rent listed reflects what the last tenant was paying. Current owner has replaced roof, windows and the heat and hot water heater since owning the property. This is also an opportunity for someone to be owner occupied and move into the three bedroom upstairs! Twenty four notice to show is required.

27. 2008-05-12
    soldstatus $37,000
28. 2007-01-30
    soldstatus $30,000

ⓘ 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: $1,674 · $140/mo
• Projected year-2 tax: $3,034 · $253/mo
• Expected delta: +$1,360/yr (+$113/mo · 81.2%)

ⓘ 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 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: $52,752
• − Mortgage interest: −$14,564
• − Property taxes: −$1,674
• − Insurance: −$1,300
• − Repairs & maintenance: −$4,220
• − Management: −$4,220
• − Depreciation: −$7,564
• Taxable income: $19,210
• Est. tax owed @ 24.0%: −$4,610
• After-tax cash flow: $17,728/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

+766.7% since first listed

13 events — show timeline

• 2026-05-21 Relisted — CNYIS
• 2026-04-29 Pending — CNYIS
• 2026-04-24 Listed $260,000 CNYIS
• 2022-11-01 Sold (Public Records) $120,000 Public Records
• 2022-10-18 Sold (MLS) $120,000 CNYIS
• 2022-09-16 Pending — CNYIS
• 2022-08-13 Pending — CNYIS
• 2022-08-10 Relisted — CNYIS
• 2022-04-27 Pending — CNYIS
• 2022-03-18 Contingent — CNYIS
• 2022-03-14 Listed $124,900 CNYIS
• 2008-05-12 Sold (Public Records) $37,000 Public Records
• 2007-01-30 Sold (Public Records) $30,000 Public Records

Property tax history

-0.0%/yr

Latest (2025): $1,674 · +0.0% YoY. Source: county tax records.