508 Elm St · Syracuse, NY 13203

$165,000

3 bd · 1.0 ba · 1,440 sqft · SingleFamily public records · 88 Days on market

Built 1930 4,125 sqft lot Est $190k · 13% under

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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 +26.6/30.0
• ARV discount +13.4/15.0
• DSCR +9.1/10.0
• 1% rule +6.3/10.0
• 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

Listing remarks

Spacious and bright 4 bedrooms home within walking distance to Lincoln Park, Sedgwick, downtown, school & stores. Not your average cookie cutter, this home has characters with first floor entrance landing, first floor office can be used as a bedroom & utilities room w/ ample of storage area. Second level living space with sitting area, dining room and kitchen. There is a covered open porch looking out to the backyard & a great entertaining space for cookout. Third floor is where all the 3 bedrooms and full bath are located. Great floor plan and layout perfect for your all season home.

Key facts

• First floor office
• Entertaining space
• Utilities room

Tags

• FIRST FLOOR ENTRANCE LANDING
• FIRST FLOOR OFFICE
• UTILITIES ROOM
• COVERED OPEN PORCH
• BACKYARD
• ENTERTAINING SPACE

Property features AI

Finance

• Other: Listing provided by Coldwell Banker Prime Prop, Inc.; Listing agent: Susan Li
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Exterior

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• Home design: Single-family property; Sign in or register to view stories, entry level, and facing direction
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Interior

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What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $441 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $155k (6.0% 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: 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• At $1,873/mo this rent would consume 48% 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 $1k of loan paydown is wiped out by about $5k 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 $46k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $83k; list at $165k implies a 99% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $155,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.13% ✓
• Cap rate: 9.50%
• Cash-on-cash: 11.44%
• DSCR: 1.51
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $190,080
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
508 Elm St	0.00mi	4/1.0 (+1)	1,440 (0%)	0mo	$160,000	$111	95
206 Sedgwick St	0.08mi	3/2.0	1,368 (-5%)	1mo	$80,000	$58	83
209 Boyden St	0.30mi	3/1.5	1,416 (-2%)	5mo	$178,571	$126	77
127 Schuler St	0.38mi	4/1.5 (+1)	1,448 (+1%)	1mo	$225,000	$155	74
321 Dewitt St	0.43mi	3/1.5	1,310 (-9%)	6mo	$175,000	$134	58
200 Helen St	0.48mi	2/1.5 (-1)	1,329 (-8%)	5mo	$175,100	$132	54
227 Hixson St	0.64mi	3/1.5	1,536 (+7%)	5mo	$154,900	$101	53
204 Kline St	0.68mi	3/2.0	1,524 (+6%)	2mo	$278,750	$183	53
122 Craton St	0.33mi	4/1.5 (+1)	1,652 (+15%)	7mo	$130,000	$79	47
409 Hixson Ave	0.60mi	3/1.5	1,232 (-14%)	1mo	$155,000	$126	45
310 Helen St	0.60mi	2/1.5 (-1)	1,274 (-12%)	4mo	$191,000	$150	42
619 Dewitt St	0.67mi	4/1.5 (+1)	1,588 (+10%)	5mo	$248,000	$156	40

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: 5.9%
• Equity multiple: 1.24×
• Total profit: $11,186
• Equity at exit: $24,602

10-year hold

• IRR: 19.2%
• Equity multiple: 2.96×
• Total profit: $90,780
• Equity at exit: $14,266

Cash invested: $46,200 (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: 7.3×

Monthly cashflow live

• Estimated rent: $1,873 high
• Mortgage (P&I): −$865
• Tax from tax record: −$105 /mo · $1,258/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $441

Break-even live

Break-even rent $1,315

Max offer price $165,000

Occupancy floor 71%

Sensitivity live

Price	-10% $534	-5% $487	+0% $441	+5% $394	+10% $347
Rent	-10% $293	-5% $367	+0% $441	+5% $515	+10% $589
Rate	-1.0pp $524	-0.5pp $483	base $441	+0.5pp $398	+1.0pp $354

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1618 James St #3 Syracuse, NY	2.0	1.0	1150	$2,200	$1.91	15d	1	0.46mi
525 Burnet Ave Unit First Floor Syracuse, NY	3.0	1.0	900	$1,650	$1.83	45d	1	0.55mi
204 Mariposa St Unit pvt house Syracuse, NY	3.0	1.0	1128	$2,137	$1.89	15d	1	0.61mi
1801 James St #2 Syracuse, NY	3.0	1.0	1244	$1,800	$1.45	15d	1	0.68mi
300 University Ave Syracuse, NY	2.0	1.0	1020	$2,150	$2.11	15d	1	0.71mi
746 E Laurel St Unit 1 Syracuse, NY	4.0	2.0	1400	$1,500	$1.07	45d	1	0.72mi
205A Hawley Ave Unit 211C Syracuse, NY	3.0	2.5	1350	$1,675	$1.24	45d	1	0.72mi
205A Hawley Ave Unit 213C Syracuse, NY	3.0	2.5	1350	$1,650	$1.22	45d	1	0.72mi
900 E Fayette St Syracuse, NY	1.0–2.0	1.0	817	$1,995	$2.44	15d	9	0.77mi
112 Gale Ave Unit 1 Syracuse, NY	2.0	1.0	1848	$1,400	$0.76	45d	1	0.78mi
423 Wendell Ter Syracuse, NY	4.0	1.0	1312	$2,500	$1.91	15d	1	0.85mi
126 Woodruff Ave Syracuse, NY	3.0	1.0	1200	$1,675	$1.40	45d	1	0.86mi
917 Madison St #5 Syracuse, NY	2.0	1.0	1000	$1,600	$1.60	45d	1	0.87mi
1108 Madison St Unit 2 Syracuse, NY	3.0	1.5	1580	$2,080	$1.32	45d	1	0.89mi
502 University Ave Syracuse, NY	1.0–2.0	1.0	950	$1,450	$1.53	15d	2	0.93mi
912 Park St Unit 1 Syracuse, NY	3.0	1.0	1040	$1,200	$1.15	45d	1	1.01mi
202 Stafford Ave Syracuse, NY	3.0	1.0	1692	$1,800	$1.06	15d	1	1.03mi
610 E Division St Unit F2 Syracuse, NY	2.0	1.0	900	$1,150	$1.28	45d	1	1.03mi
60 Presidential Plz Syracuse, NY	1.0–2.0	1.0–1.5	970	$1,315	$1.36	45d	1	1.06mi
416 Pearl St Unit 2 Syracuse, NY	3.0	1.0	900	$2,400	$2.67	15d	1	1.08mi
225 Marlborough Rd Syracuse, NY	2.0	1.0	1040	$1,800	$1.73	15d	1	1.25mi
213 Beattie St Syracuse, NY	2.0	1.0	975	$1,370	$1.41	15d	1	1.26mi
205 E Jefferson St Unit 2B Syracuse, NY	2.0	2.5	1100	$2,200	$2.00	23d	1	1.27mi
807-13 N Salina St Unit 809A Syracuse, NY	2.0	1.0	1020	$1,325	$1.30	45d	1	1.27mi
201 E Jefferson St Syracuse, NY	2.0	1.0	662	$1,626	$2.45	15d	9	1.28mi
319 S Salina St Syracuse, NY	2.0	2.0	1860	$2,000	$1.08	23d	1	1.30mi
321 S Salina St Unit 501 Syracuse, NY	2.0	1.0	1446	$3,000	$2.07	45d	1	1.31mi
321 S Salina St Unit 201 Syracuse, NY	2.0	1.0	1446	$2,450	$1.69	45d	1	1.31mi
208 W Water St Syracuse, NY	2.0	2.0	962	$1,800	$1.87	45d	1	1.34mi
129 W Fayette St Unit 217 Syracuse, NY	2.0	2.0	1100	$1,550	$1.41	15d	1	1.35mi
317 S Clinton St Unit 4A Syracuse, NY	2.0	1.5	1500	$2,100	$1.40	15d	1	1.36mi
317 S Clinton St Unit 3A Syracuse, NY	2.0	2.0	1500	$2,100	$1.40	45d	1	1.36mi
118 Niven St Syracuse, NY	3.0	1.0	1150	$1,650	$1.43	23d	1	1.37mi
205 Fellows Ave Unit 1 Syracuse, NY	3.0	1.0	1638	$1,800	$1.10	23d	1	1.37mi
110 Walton St Unit 201 Syracuse, NY	2.0	2.0	1051	$2,200	$2.09	45d	1	1.41mi
110 Walton St Unit 301 Syracuse, NY	2.0	2.0	1051	$2,000	$1.90	23d	1	1.41mi
210 W Division St Unit 87 Syracuse, NY	2.0	2.0	1200	$1,750	$1.46	45d	1	1.41mi
210 W Division St Unit 24 Syracuse, NY	2.0	2.0	1200	$1,850	$1.54	23d	1	1.41mi
120 Walton St Syracuse, NY	1.0–2.0	1.0–2.0	825	$3,200	$3.88	45d	2	1.42mi
111 E Onondaga St Syracuse, NY	1.0–2.0	1.0–2.0	1150	$3,000	$2.61	23d	5	1.42mi

Listing history 11 events

1. 2026-06-09
   status $165,000 Pending 88 DOM
2. 2026-06-08
   days on market $165,000 Active Under Contract 88 DOM
3. 2026-06-07
   days on market $165,000 Active Under Contract 87 DOM
4. 2026-06-05
   days on market $165,000 Active Under Contract 84 DOM
5. 2026-06-02
   days on market $165,000 Active Under Contract 82 DOM
6. 2026-06-01
   days on market $165,000 Active Under Contract 81 DOM
7. 2026-05-31
   days on market $165,000 Active Under Contract 80 DOM
8. 2026-05-30
   days on market $165,000 Active Under Contract 79 DOM
9. 2026-04-07
   historical Active Under Contract
10. 2026-03-12
    listed $165,000 Active
11. 2007-10-15
    soldstatus $83,000

ⓘ 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: $1,258 · $105/mo
• Projected year-2 tax: $2,023 · $169/mo
• Expected delta: +$765/yr (+$64/mo · 60.8%)

ⓘ 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: $22,473
• − Mortgage interest: −$9,243
• − Property taxes: −$1,258
• − Insurance: −$825
• − Repairs & maintenance: −$1,798
• − Management: −$1,798
• − Depreciation: −$4,800
• Taxable income: $2,751
• Est. tax owed @ 24.0%: −$660
• After-tax cash flow: $4,627/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

+98.8% since first listed

3 events — show timeline

• 2026-04-07 Contingent — CNYIS
• 2026-03-12 Listed $165,000 CNYIS
• 2007-10-15 Sold (Public Records) $83,000 Public Records

Property tax history

+1.0%/yr

Latest (2025): $1,258 · +0.0% YoY. Source: county tax records.