308 Barnes Ave · Syracuse, NY 13207

$205,000

3 bd · 1.5 ba · 1,792 sqft · SingleFamily public records · 23 Days on market

Built 1958 Est $183k · 12% 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 +24.8/30.0
• DSCR +8.1/10.0
• 1% rule +5.5/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +2.0/15.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sold As Is. Very Nice Home, Well Kept, Newer Roof, Hugh back yard with screened in porch. Fully finished basement with laundry room and fireplace. Attached garage. You must see to appreciate this charming house. The house will be broom swept. It is located 1 block from the busline, several schools, and shopping in the area.

Key facts

• Screened in porch
• Hugh back yard
• Newer roof

Tags

• NEWER ROOF
• HUGH BACK YARD
• SCREENED IN PORCH
• FULLY FINISHED BASEMENT
• LAUNDRY ROOM
• FIREPLACE

Property features AI

Exterior

• Home design: Built in 1958; Single-family home
• Construction: Living area of 1792
• Exterior features: Located in the Valley subdivision

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $205k.

Deal economics

• At list price, monthly cash flow is $435 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $205k).
• Recommended offer: $202k (1.5% below list) — sets the bar for market timing.

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: 63 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $1k of loan paydown is wiped out by about $6k 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 23 days — a 2% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y 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 $81k; list at $205k implies a 153% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $201,925 (1.5% below list)

Questions for the listing agent

1. Built in 1958 — 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. 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?
4. 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?
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: 1.05% ✓
• Cap rate: 8.84%
• Cash-on-cash: 9.10%
• DSCR: 1.41
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $182,784
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
524 W Seneca	0.54mi	4/2.0 (+1)	1,776 (-1%)	3mo	$137,113	$77	64
2725 Midland Ave	0.70mi	4/1.5 (+1)	1,794 (+0%)	2mo	$119,000	$66	61
128 Richardson Ave	0.66mi	3/2.0	1,826 (+2%)	11mo	$185,000	$101	55
4922 Tenterden Dr	0.65mi	3/3.0	1,808 (+1%)	10mo	$381,000	$211	54
504 W Newell St	0.58mi	3/1.0	1,545 (-14%)	0mo	$110,000	$71	48
130 Kimber Ave	0.53mi	3/1.5	1,672 (-7%)	20mo	$172,500	$103	47
104 Hutchinson Ave	0.46mi	4/1.5 (+1)	2,016 (+12%)	7mo	$177,500	$88	47
317 Wellesley Rd	0.72mi	3/1.5	1,632 (-9%)	6mo	$190,000	$116	46
4958 Elgin Dr	0.67mi	3/1.5	1,716 (-4%)	19mo	$275,000	$160	46
875 W Lafayette Ave	0.57mi	4/1.0 (+1)	1,568 (-12%)	4mo	$160,000	$102	42
100 Edgewood Ave	0.58mi	4/2.0 (+1)	1,664 (-7%)	19mo	$180,000	$108	38
318 Milburn Dr	0.72mi	4/1.5 (+1)	2,000 (+12%)	7mo	$42,500	$21	36

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: -2.6%
• Equity multiple: 0.90×
• Total profit: $-5,546
• Equity at exit: $30,566

10-year hold

• IRR: 7.1%
• Equity multiple: 1.53×
• Total profit: $30,632
• Equity at exit: $17,725

Cash invested: $57,400 (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 13207

• Home prices YoY: -23.0%
• Active inventory: 63
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,151 high
• Mortgage (P&I): −$1,075
• Tax from tax record: −$103 /mo · $1,240/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$452
• Net cashflow: $435

Break-even live

Break-even rent $1,600

Max offer price $205,000

Occupancy floor 75%

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2331 Midland Ave Syracuse, NY	4.0	1.5	1664	$2,300	$1.38	20d	1	0.80mi
154 Seeley Ave Syracuse, NY	4.0	1.0	1312	$2,100	$1.60	13d	1	0.97mi
147 E Matson Ave Syracuse, NY	3.0	2.5	1421	$2,000	$1.41	20d	1	1.10mi
1330 Midland Ave Syracuse, NY	4.0	1.0	1870	$2,000	$1.07	20d	1	1.17mi
269 W Borden Ave Syracuse, NY	4.0	1.5	1800	$650	$0.36	20d	1	1.25mi
102 Newbury Hollow Ln Syracuse, NY	3.0	2.0	2000	$2,300	$1.15	43d	1	1.36mi

Listing history 23 events

1. 2026-06-18
   days on market $205,000 Active 23 DOM
2. 2026-06-17
   days on market $205,000 Active 22 DOM
3. 2026-06-16
   days on market $205,000 Active 21 DOM
4. 2026-06-15
   days on market $205,000 Active 20 DOM
5. 2026-06-14
   days on market $205,000 Active 18 DOM
6. 2026-06-13
   days on market $205,000 Active 17 DOM
7. 2026-06-10
   days on market $205,000 Active 15 DOM
8. 2026-06-09
   days on market $205,000 Active 14 DOM
9. 2026-06-08
   days on market $205,000 Active 13 DOM
10. 2026-06-07
    days on market $205,000 Active 12 DOM
11. 2026-06-05
    days on market $205,000 Active 9 DOM
12. 2026-06-02
    days on market $205,000 Active 7 DOM
13. 2026-06-01
    days on market $205,000 Active 6 DOM
14. 2026-05-31
    days on market $205,000 Active 5 DOM
15. 2026-05-30
    days on market $205,000 Active 4 DOM
16. 2026-05-26
    listed $205,000 Active
17. 2017-11-16
    soldstatus $81,000 Closed Sale or Rented 325-char remark

    Show marketing remark (325 chars)

    Sold As Is. Very Nice Home, Well Kept, Newer Roof, Hugh back yard with screened in porch. Fully finished basement with laundry room and fireplace. Attached garage. You must see to appreciate this charming house. The house will be broom swept. It is located 1 block from the busline, several schools, and shopping in the area.

18. 2017-11-16
    soldstatus $81,000

    Show marketing remark (325 chars)

    Sold As Is. Very Nice Home, Well Kept, Newer Roof, Hugh back yard with screened in porch. Fully finished basement with laundry room and fireplace. Attached garage. You must see to appreciate this charming house. The house will be broom swept. It is located 1 block from the busline, several schools, and shopping in the area.

19. 2017-10-06
    status Pending Sale 325-char remark

    Show marketing remark (325 chars)

    Sold As Is. Very Nice Home, Well Kept, Newer Roof, Hugh back yard with screened in porch. Fully finished basement with laundry room and fireplace. Attached garage. You must see to appreciate this charming house. The house will be broom swept. It is located 1 block from the busline, several schools, and shopping in the area.

20. 2017-09-05
    status Under Contract- Do Not Show 325-char remark

    Show marketing remark (325 chars)

    Sold As Is. Very Nice Home, Well Kept, Newer Roof, Hugh back yard with screened in porch. Fully finished basement with laundry room and fireplace. Attached garage. You must see to appreciate this charming house. The house will be broom swept. It is located 1 block from the busline, several schools, and shopping in the area.

21. 2017-09-01
    listed $79,995 Active 325-char remark

    Show marketing remark (325 chars)

    Sold As Is. Very Nice Home, Well Kept, Newer Roof, Hugh back yard with screened in porch. Fully finished basement with laundry room and fireplace. Attached garage. You must see to appreciate this charming house. The house will be broom swept. It is located 1 block from the busline, several schools, and shopping in the area.

22. 2017-08-23
    historical
23. 2017-08-21
    listed $79,995 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: $1,240 · $103/mo
• Projected year-2 tax: $2,352 · $196/mo
• Expected delta: +$1,112/yr (+$93/mo · 89.7%)

ⓘ 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 ≥95°F today · 16 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: $25,812
• − Mortgage interest: −$11,483
• − Property taxes: −$1,240
• − Insurance: −$1,025
• − Repairs & maintenance: −$2,065
• − Management: −$2,065
• − Depreciation: −$5,964
• Taxable income: $1,970
• Est. tax owed @ 24.0%: −$473
• After-tax cash flow: $4,753/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
• City population: 152,627
• Population (ZIP): 12,383

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 0.68)
• Race & ethnicity: White 43% Black 33% Hispanic / Latino 17% Two or more races 11% Native American 1% Asian 1%
• Hispanic origin (detail): Puerto Rican 13% Cuban 1%
• Common ancestry: Romanian 3% Lithuanian 1% Slovak 1%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 89% English-only · Spanish 9% French/Haitian/Cajun 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: ▼ -95.17%
• Current HPI: 318.9257
• 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

+156.3% since first listed

8 events — show timeline

• 2026-05-26 Listed $205,000 FSBO.com
• 2017-11-16 Sold (Public Records) $81,000 Public Records
• 2017-11-16 Sold (MLS) $81,000 CNYIS
• 2017-10-06 Pending — CNYIS
• 2017-09-05 Pending — CNYIS
• 2017-09-01 Listed $79,995 CNYIS
• 2017-08-23 Listing Removed — CNYIS
• 2017-08-21 Listed $79,995 CNYIS

Property tax history

-0.5%/yr

Latest (2025): $1,240 · +0.0% YoY. Source: county tax records.