1300-1302 Oak St · Syracuse, NY 13203

$239,900

4 bd · 2.0 ba · 2,240 sqft · MultiFamily public records · 2 Days on market

Built 1915 4,356 sqft lot $107/sqft · 15% below area Est $283k · 15% 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 +30.0/30.0
• ARV discount +14.3/15.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• 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

Multi-family units

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

Listing remarks

Spacious and well-maintained multifamily property offering over 2,200 square feet of living space. This property includes two generously sized units, each featuring 2 bedrooms and 1 full bathroom. Both apartments include a welcoming porch, formal dining room, comfortable living room, and dedicated storage room. Providing plenty of space and functionality for tenants or owner-occupants alike. The property also offers a full attic and full basement for additional storage or potential use, along with a detached garage for convenient parking. A great opportunity for investors or those seeking multi-generational living with strong rental potential and classic layout features throughout. Don't mi

Key facts

• Formal dining room
• Full basement
• Full attic

Tags

• WELCOMING PORCH
• FORMAL DINING ROOM
• COMFORTABLE LIVING ROOM
• DEDICATED STORAGE ROOM
• FULL ATTIC
• FULL BASEMENT

Property features AI

Finance

• Other: Property has separate gas and electric meters for the two units; Operating expense details noted in remarks
• Financial info: Tenant pays all utilities; One unit's listed rent: $1,050 (actual)

Exterior

• Parking: Garage with 2 spaces; Additional parking with two or more spaces
• Utilities: Public water connected; Sewer connected; Cable available; High-speed internet available; Electric with circuit breakers
• Home design: Multi-family property with 2 total units; 3 stories; Residential 2-unit zoning; Existing construction condition
• Construction: Cedar and wood siding; Asphalt shingle roof; Block foundation; Built (existing)
• Exterior features: Partial fencing; Corner lot; Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Eat-in kitchen; Dining area with kitchen; Formal dining room; Oven/Range
• Bedrooms: Two-bedroom unit (one unit listed with 2 bedrooms)
• Flooring: Hardwood; Varies by area
• Bathrooms: Two full bathrooms total (each unit details include 1 full bath for one unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Hardwood and varied flooring; Full basement; Two fireplaces
• Laundry & utility: Washer and dryer included; Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $240k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $500/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Cap rate 11.3% 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; 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).
• At $3,147/mo this rent would consume 80% 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 $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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $67k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $239,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.31% ✓
• Cap rate: 11.29%
• Cash-on-cash: 17.86%
• DSCR: 1.79
• GRM: 6.4

CMA / ARV

• ARV (median comp): $282,935
• List price: $239,900
• Delta: -15.21%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1215 Oak St #17	0.04mi	4/2.0	2,482 (+11%)	1mo	$218,200	$88	79
501-503 Dewitt St	0.27mi	4/2.0	2,370 (+6%)	2mo	$198,000	$84	76
1310 Oak St	0.01mi	5/2.0 (+1)	2,080 (-7%)	16mo	$185,000	$89	69
300 Helen St	0.27mi	5/2.0 (+1)	2,098 (-6%)	4mo	$165,000	$79	68
1350 Oak St	0.08mi	4/2.0	2,425 (+8%)	20mo	$125,000	$52	66
932-934 Oak St	0.29mi	5/2.0 (+1)	2,050 (-8%)	2mo	$105,000	$51	65
1004 Highland St #6	0.33mi	4/2.0	2,034 (-9%)	16mo	$84,000	$41	56
220 Craig St	0.50mi	4/2.0	2,288 (+2%)	22mo	$50,000	$22	55
1107 Butternut St	0.46mi	4/2.0	2,002 (-11%)	9mo	$34,900	$17	54
313-315 Beecher St	0.53mi	4/2.0	2,132 (-5%)	19mo	$109,000	$51	51
1417 Butternut St	0.38mi	5/3.0 (+1)	2,005 (-10%)	8mo	$79,900	$40	50
712 Oak St	0.45mi	5/3.0 (+1)	2,461 (+10%)	19mo	$135,000	$55	38

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: 14.6%
• Equity multiple: 1.62×
• Total profit: $41,364
• Equity at exit: $35,770

10-year hold

• IRR: 26.6%
• Equity multiple: 3.88×
• Total profit: $193,457
• 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 13203

• Home prices YoY: -11.9%
• Rents YoY: 8.4%
• Active inventory: 55
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $3,147 high
• Mortgage (P&I): −$1,258
• Tax from tax record: −$129 /mo · $1,542/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$661
• Net cashflow: $1,000

Break-even live

Break-even rent $1,882

Max offer price $239,900

Occupancy floor 63%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,148
Total (2 units)			$3,147

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 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
712 Oak St Syracuse, NY	3.0	1.0	2461	$1,700	$0.69	21d	1	0.48mi
746 E Laurel St Unit 1 Syracuse, NY	4.0	2.0	1400	$1,500	$1.07	43d	1	0.73mi
365 Green St Syracuse, NY	5.0	3.5	2263	$3,300	$1.46	21d	1	0.87mi
202 Stafford Ave Syracuse, NY	3.0	1.0	1692	$1,800	$1.06	13d	1	1.21mi
1607 Burnet Ave Unit 1 Syracuse, NY	3.0	1.0	2538	$1,650	$0.65	21d	1	1.43mi
447 E Washington St Syracuse, NY	3.0	1.5	2095	$2,100	$1.00	13d	1	1.49mi

Listing history 2 events

1. 2026-05-09
   status Pending 719-char remark
2. 2026-05-07
   listed $239,900 Active 719-char remark

ⓘ 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: $1,542 · $129/mo
• Projected year-2 tax: $2,798 · $233/mo
• Expected delta: +$1,256/yr (+$105/mo · 81.4%)

ⓘ 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: $37,764
• − Mortgage interest: −$13,438
• − Property taxes: −$1,542
• − Insurance: −$1,200
• − Repairs & maintenance: −$3,021
• − Management: −$3,021
• − Depreciation: −$6,979
• Taxable income: $8,563
• Est. tax owed @ 24.0%: −$2,055
• After-tax cash flow: $9,940/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

2 events — show timeline

• 2026-05-09 Pending — CNYIS
• 2026-05-07 Listed $239,900 CNYIS

Property tax history

-0.4%/yr

Latest (2025): $1,542 · -0.1% YoY. Source: county tax records.