406 Scott Ave · Syracuse, NY 13224

$285,000

3 bd · 1.5 ba · 1,450 sqft · SingleFamily public records · 12 Days on market

Built 1935 6,534 sqft lot $197/sqft · 9% below area Est $313k · 9% under

---

Why this score? — see what drove the D 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).

• ARV discount +11.5/15.0
• Cash flow +9.0/30.0
• Appreciation +8.6/10.0
• Livability +3.9/5.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• Schools +1.8/10.0

Listing remarks MLS

"Fall in Love!" Charm & Character of 1930's and newer kitchen w/ granite counter top & stainless steel appliances. Natural woodwork, beautiful hardwood floors, french doors & gas fireplace. Both baths remodeled. Sunroom w/ jacuzzi-like tub. Even replacement windows that are similar color as the trim. Can you say huge deck!? 2 car garage, central air. Minutes to S. U. , hospitals & Wegmans!

Key facts

• Three season room
• Dedicated office
• Granite countertops

Tags

• DEDICATED OFFICE
• FULLY REMODELED BATHROOM
• REFRESHED LANDSCAPING
• THREE SEASON ROOM
• GRANITE COUNTERTOPS

Property features AI

Exterior

• Parking: Detached garage; Two garage spaces
• Utilities: Public water connected; Sewer connected; Cable available; High-speed internet available; Circuit breaker electrical panel
• Home design: Two-story single-family home; Resale property
• Construction: Cedar siding; Copper plumbing; Shingle roof; Block foundation; Existing (previously built)
• Exterior features: Deck (open and screened); Porch; Blacktop driveway; Partial fence

Interior

• Kitchen: Gas oven; Gas range; Microwave; Refrigerator; Eat-in layout
• Bedrooms: Three bedrooms on the second floor
• Flooring: Hardwood; Varies
• Bathrooms: One full bathroom; One half bathroom; One main-level bathroom
• Heating & cooling: Gas forced-air heating; Central air conditioning
• Interior features: Ceiling fans; Drapes and window treatments; Separate/formal living room; Separate/formal dining room; Entrance foyer; Eat-in kitchen; Country-style kitchen; Solid surface counters
• Laundry & utility: Washer (included); Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $285k.

Deal economics

• At list price, monthly cash flow is $-226 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $245k (14.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $195k (31.4% below list).
• Recommended offer: $195k (31.4% below list) — sets the bar for 1% rule.
• Cap rate 5.3% vs local median 8.2% in Syracuse — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: Hurlbut W Smith K-8 School (math 4% / reading 18%, grade F, #2,061 of 2,108 statewide, top 98%, 776 students, 83% FRL); Expeditionary Learning Middle School (math 17% / reading 32%, grade F, #611 of 729 statewide, top 88%, 170 students, 76% FRL); Nottingham High School (math 75% / reading 77%, grade A-, #616 of 1,100 statewide, top 57%, 1,226 students, 80% FRL).
• Zoned-school proficiency averages 37% at this address vs 22% district-wide (+15 pts) — the actual schools serving this property are materially stronger than the Syracuse City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 25 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).

Forward outlook

• In year one you build about $23k of equity ($2k loan paydown + $21k appreciation (7.2% local appreciation)).
• Onondaga County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 2, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 15y 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 $188k; list at $285k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $195,426 (31.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1935 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.69% ✗
• Cap rate: 5.34%
• Cash-on-cash: -3.39%
• DSCR: 0.85
• GRM: 12.2

CMA / ARV

• ARV (median comp): $312,836
• List price: $285,000
• Delta: -8.90%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
708 Crawford Ave	0.18mi	3/1.5	1,454 (+0%)	6mo	$294,000	$202	86
102 Janet Dr	0.08mi	4/2.0 (+1)	1,376 (-5%)	8mo	$215,000	$156	74
972 Westmoreland Ave	0.35mi	3/1.5	1,414 (-2%)	6mo	$275,000	$194	74
151 Houston Ave	0.47mi	3/2.5	1,440 (-1%)	3mo	$276,000	$192	70
822 Cumberland Ave	0.47mi	3/2.0	1,524 (+5%)	5mo	$275,000	$180	63
228 Westminster Ave	0.67mi	4/1.5 (+1)	1,453 (+0%)	3mo	$285,000	$196	61
105 Dakota St	0.46mi	4/1.5 (+1)	1,536 (+6%)	4mo	$275,000	$179	60
1344 Westmoreland Ave	0.61mi	4/2.0 (+1)	1,444 (-0%)	5mo	$280,000	$194	60
1112 Westcott St	0.65mi	3/1.5	1,344 (-7%)	5mo	$245,000	$182	54
259 Fellows Ave	0.52mi	3/1.0	1,296 (-11%)	7mo	$135,000	$104	50
203 Buckingham Ave	0.75mi	4/1.0 (+1)	1,389 (-4%)	6mo	$120,000	$86	47
1128 Westcott St	0.66mi	4/1.5 (+1)	1,624 (+12%)	3mo	$288,000	$177	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

7.21% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.6%
• Equity multiple: 2.11×
• Total profit: $88,730
• Equity at exit: $201,405

10-year hold

• IRR: 15.3%
• Equity multiple: 4.36×
• Total profit: $268,145
• Equity at exit: $386,172

Cash invested: $79,800 (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 13224

• Home prices YoY: 2.1%
• Active inventory: 25
• Price-to-rent: 12.2×

Monthly cashflow live

• Estimated rent: $1,954 high
• Mortgage (P&I): −$1,495
• Tax from tax record: −$156 /mo · $1,874/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $-226

Break-even live

Break-even rent $2,240

Max offer price $245,142

Occupancy floor —

Sensitivity live

Price	-10% $-64	-5% $-145	+0% $-226	+5% $-306	+10% $-387
Rent	-10% $-380	-5% $-303	+0% $-226	+5% $-148	+10% $-71
Rate	-1.0pp $-82	-0.5pp $-153	base $-226	+0.5pp $-299	+1.0pp $-375

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
108 Harrington Rd Syracuse, NY	3.0	2.0	1800	$2,600	$1.44	15d	1	0.45mi
953-55 Westcott St Unit 955 Syracuse, NY	3.0	1.0	1286	$1,500	$1.17	45d	1	0.58mi
205 Fellows Ave Unit 1 Syracuse, NY	3.0	1.0	1638	$1,800	$1.10	22d	1	0.61mi
922 Westcott St Syracuse, NY	4.0	2.0	1700	$2,000	$1.18	22d	1	0.61mi
822 Westcott St Unit 1 Syracuse, NY	4.0	2.0	941	$575	$0.61	45d	1	0.62mi
620 Euclid Ave Apt 1 Syracuse, NY	3.0	1.0	1248	$1,700	$1.36	45d	1	0.84mi
118 Niven St Syracuse, NY	3.0	1.0	1150	$1,650	$1.43	22d	1	0.85mi
213 Beattie St Syracuse, NY	2.0	1.0	975	$1,370	$1.41	15d	1	1.07mi
121 Doll Pkwy Unit A Syracuse, NY	4.0	2.0	1400	$2,800	$2.00	15d	1	1.23mi
1108 Madison St Unit 2 Syracuse, NY	3.0	1.5	1580	$2,080	$1.32	45d	1	1.33mi
259 Robert Dr Syracuse, NY	3.0	1.5	1350	$699	$0.52	45d	1	1.38mi
260 Robert Dr Syracuse, NY	3.0	1.5	1200	$2,097	$1.75	45d	1	1.40mi

Listing history 13 events

1. 2026-05-19
   historical Active Under Contract 1967-char remark
2. 2026-05-11
   listed $285,000 Active 1967-char remark
3. 2021-02-22
   soldstatus $188,000
4. 2017-11-02
   soldstatus $165,000 Closed Sale or Rented 426-char remark

   Show marketing remark (426 chars)

   "Fall in Love!" Charm & Character of 1930's and newer kitchen w/ granite counter top & stainless steel appliances. Natural woodwork, beautiful hardwood floors, french doors & gas fireplace. Both baths remodeled. Sunroom w/ jacuzzi-like tub. Even replacement windows that are similar color as the trim. Can you say huge deck!? 2 car garage, central air. Minutes to S. U. , hospitals & Wegmans!

5. 2017-11-02
   soldstatus $165,000

   Show marketing remark (426 chars)

   "Fall in Love!" Charm & Character of 1930's and newer kitchen w/ granite counter top & stainless steel appliances. Natural woodwork, beautiful hardwood floors, french doors & gas fireplace. Both baths remodeled. Sunroom w/ jacuzzi-like tub. Even replacement windows that are similar color as the trim. Can you say huge deck!? 2 car garage, central air. Minutes to S. U. , hospitals & Wegmans!

6. 2017-09-18
   status Under Contract- Do Not Show 426-char remark

   Show marketing remark (426 chars)

   "Fall in Love!" Charm & Character of 1930's and newer kitchen w/ granite counter top & stainless steel appliances. Natural woodwork, beautiful hardwood floors, french doors & gas fireplace. Both baths remodeled. Sunroom w/ jacuzzi-like tub. Even replacement windows that are similar color as the trim. Can you say huge deck!? 2 car garage, central air. Minutes to S. U. , hospitals & Wegmans!

7. 2017-09-05
   listed $169,900 Active 426-char remark

   Show marketing remark (426 chars)

   "Fall in Love!" Charm & Character of 1930's and newer kitchen w/ granite counter top & stainless steel appliances. Natural woodwork, beautiful hardwood floors, french doors & gas fireplace. Both baths remodeled. Sunroom w/ jacuzzi-like tub. Even replacement windows that are similar color as the trim. Can you say huge deck!? 2 car garage, central air. Minutes to S. U. , hospitals & Wegmans!

8. 2011-12-01
   soldstatus $144,000

   Show marketing remark (427 chars)

   "Fall in Love!" Charm & Character of 1930's and newer kitchen w/ granite counter top & stainless steel appliances. Natural woodwork, beautiful hardwood floors, french doors & gas fireplace. Both baths remodeled. Sunroom w/ jacuzzi-like tub. Even replacement windows that are similiar color as the trim. Can you say huge deck!? 2 car garage, central air. Minutes to S. U. , hospitals & Wegmans.

9. 2011-11-30
   soldstatus $144,000
10. 2011-06-28
    listed $149,900

    Show marketing remark (427 chars)

    "Fall in Love!" Charm & Character of 1930's and newer kitchen w/ granite counter top & stainless steel appliances. Natural woodwork, beautiful hardwood floors, french doors & gas fireplace. Both baths remodeled. Sunroom w/ jacuzzi-like tub. Even replacement windows that are similiar color as the trim. Can you say huge deck!? 2 car garage, central air. Minutes to S. U. , hospitals & Wegmans.

11. 2006-10-17
    soldstatus $159,690
12. 1997-09-29
    soldstatus $80,000
13. 1993-11-22
    soldstatus $95,500

ⓘ 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: $1,874 · $156/mo
• Projected year-2 tax: $3,345 · $279/mo
• Expected delta: +$1,471/yr (+$123/mo · 78.5%)

ⓘ 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 · 16 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: $23,451
• − Mortgage interest: −$15,964
• − Property taxes: −$1,874
• − Insurance: −$1,425
• − Repairs & maintenance: −$1,876
• − Management: −$1,876
• − Depreciation: −$8,291
• Taxable loss: −$7,855
• Est. tax savings @ 24.0%: +$1,885
• After-tax cash flow: $-822/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): 8,659
• Household income: $76,500
• Rent vs Own: 34.9% rent · 65.1% own
• Severe rent burden: 423.0

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 47% Black 32% Two or more races 10% Hispanic / Latino 8% Asian 6%
• Hispanic origin (detail): Puerto Rican 3% Cuban 1% Dominican 2%
• Common ancestry: Romanian 3% Arab 2% Subsaharan African 2%
• Foreign-born: 16% · Canada, China, Jamaica
• Languages at home: 84% English-only · Spanish 6% Arabic 4% Other Indo-European 2%

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: ▲ 7.21%
• Current HPI: 350.9419
• Rent YoY: —
• 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

+198.4% since first listed

14 events — show timeline

• 2026-05-23 Pending — CNYIS
• 2026-05-19 Contingent — CNYIS
• 2026-05-11 Listed $285,000 CNYIS
• 2021-02-22 Sold (Public Records) $188,000 Public Records
• 2017-11-02 Sold (Public Records) $165,000 Public Records
• 2017-11-02 Sold (MLS) $165,000 CNYIS
• 2017-09-18 Pending — CNYIS
• 2017-09-05 Listed $169,900 CNYIS
• 2011-12-01 Sold (MLS) $144,000 CNYIS
• 2011-11-30 Sold (Public Records) $144,000 Public Records
• 2011-06-28 Listed $149,900 CNYIS
• 2006-10-17 Sold (Public Records) $159,690 Public Records
• 1997-09-29 Sold (Public Records) $80,000 Public Records
• 1993-11-22 Sold (Public Records) $95,500 Public Records

Property tax history

-0.4%/yr

Latest (2025): $1,874 · -1.9% YoY. Source: county tax records.