409 Dewitt St · Syracuse, NY 13203

$184,900

3 bd · 1.5 ba · 1,456 sqft · SingleFamily public records · 4 Days on market

Built 1920 4,600 sqft lot Est $195k · 5% under

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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 +21.5/30.0
• ARV discount +9.9/15.0
• DSCR +6.9/10.0
• 1% rule +4.8/10.0
• 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 MLS

CHARMING "SEDGWICK" COLONIAL! Shows like a "MODEL"! Front entry porch! Oversized livingroom w/ OAK hardwoods! Oversized familyroom w/ NEW GAS FIREPLACE+OAK hardwoods+built-in book shelves & cabinets! UPDATED eat-in kitchen w/ CERAMIC floor+$AVE= ALL major appliances STAY!$! UPDATED half-bath w/ PEDESTAL sink! 1ST floor office or bedroom! 2ND floor has two LARGE bedrooms+LARGE bath w/ CERAMIC floor+LARGE WALK-IN closet! Open back porch! LARGE 1.5 car GARAGE! GORGEOUS PROFESSIONAL landscaping+ORNAMENTAL IRON fenced lot+large SLATE patio! NEW roof+H. E. windows+added INSULATION+repainted in & out+ETC. ! WOW

Key facts

• Natural flow
• Classic architecture
• Historical charm

Tags

• SEDGWICK NEIGHBORHOOD
• TREE LINED STREETS
• CLASSIC ARCHITECTURE
• SPACIOUS SUN FILLED ROOMS
• NATURAL FLOW
• HISTORICAL CHARM

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $278 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $181k (2.2% below list).
• Recommended offer: $181k (2.2% below list) — sets the bar for 1% rule.

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; 37 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 54% 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 $1,808/mo this rent would consume 46% 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 $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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $52k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 14y 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 $85k; list at $185k implies a 118% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $180,757 (2.2% below list)

Questions for the listing agent

1. Built in 1920 — 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: 0.98% ✗
• Cap rate: 8.10%
• Cash-on-cash: 6.45%
• DSCR: 1.29
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $195,104
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
321 Dewitt St	0.06mi	3/1.5	1,310 (-10%)	6mo	$175,000	$134	76
200 Helen St	0.03mi	2/1.5 (-1)	1,329 (-9%)	5mo	$175,100	$132	75
204 Kline St	0.39mi	3/2.0	1,524 (+5%)	2mo	$278,750	$183	70
508 Elm St	0.49mi	4/1.0 (+1)	1,440 (-1%)	0mo	$160,000	$111	68
619 Dewitt St	0.19mi	4/1.5 (+1)	1,588 (+9%)	5mo	$248,000	$156	67
209 Boyden St	0.53mi	3/1.5	1,416 (-3%)	5mo	$178,571	$126	66
206 Sedgwick St	0.46mi	3/2.0	1,368 (-6%)	1mo	$80,000	$58	66
310 Helen St	0.11mi	2/1.5 (-1)	1,274 (-12%)	4mo	$191,000	$150	66
127 Schuler St	0.64mi	4/1.5 (+1)	1,448 (-0%)	1mo	$225,000	$155	64
227 Hixson St	0.73mi	3/1.5	1,536 (+6%)	5mo	$154,900	$101	53
158 Darlington Rd	0.66mi	3/1.0	1,329 (-9%)	2mo	$186,000	$140	51
416 Elm St	0.60mi	4/1.5 (+1)	1,665 (+14%)	7mo	$215,000	$129	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: -1.3%
• Equity multiple: 0.95×
• Total profit: $-2,741
• Equity at exit: $27,569

10-year hold

• IRR: 12.8%
• Equity multiple: 2.23×
• Total profit: $63,699
• Equity at exit: $15,987

Cash invested: $51,772 (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: 8.5×

Monthly cashflow live

• Estimated rent: $1,808 high
• Mortgage (P&I): −$970
• Tax from tax record: −$103 /mo · $1,237/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $278

Break-even live

Break-even rent $1,455

Max offer price $184,900

Occupancy floor 80%

Sensitivity live

Price	-10% $383	-5% $331	+0% $278	+5% $226	+10% $174
Rent	-10% $135	-5% $207	+0% $278	+5% $350	+10% $421
Rate	-1.0pp $371	-0.5pp $325	base $278	+0.5pp $230	+1.0pp $182

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
126 Woodruff Ave Syracuse, NY	3.0	1.0	1200	$1,675	$1.40	44d	1	0.34mi
423 Wendell Ter Syracuse, NY	4.0	1.0	1312	$2,500	$1.91	14d	1	0.42mi
1618 James St #3 Syracuse, NY	2.0	1.0	1150	$2,200	$1.91	14d	1	0.47mi
746 E Laurel St Unit 1 Syracuse, NY	4.0	2.0	1400	$1,500	$1.07	44d	1	0.56mi
1801 James St #2 Syracuse, NY	3.0	1.0	1244	$1,800	$1.45	14d	1	0.62mi
912 Park St Unit 1 Syracuse, NY	3.0	1.0	1040	$1,200	$1.15	44d	1	0.70mi
204 Mariposa St Unit pvt house Syracuse, NY	3.0	1.0	1128	$2,137	$1.89	14d	1	0.78mi
610 E Division St Unit F2 Syracuse, NY	2.0	1.0	900	$1,150	$1.28	44d	1	0.81mi
525 Burnet Ave Unit First Floor Syracuse, NY	3.0	1.0	900	$1,650	$1.83	44d	1	0.89mi
205A Hawley Ave Unit 213C Syracuse, NY	3.0	2.5	1350	$1,650	$1.22	44d	1	0.91mi
205A Hawley Ave Unit 211C Syracuse, NY	3.0	2.5	1350	$1,675	$1.24	44d	1	0.91mi
807-13 N Salina St Unit 809A Syracuse, NY	2.0	1.0	1020	$1,325	$1.30	44d	1	1.06mi
286 Ross Park Syracuse, NY	3.0	1.0	1100	$1,500	$1.36	45d	1	1.07mi
202 Stafford Ave Syracuse, NY	3.0	1.0	1692	$1,800	$1.06	14d	1	1.08mi
416 Pearl St Unit 2 Syracuse, NY	3.0	1.0	900	$2,400	$2.67	14d	1	1.12mi
112 Gale Ave Unit 1 Syracuse, NY	2.0	1.0	1848	$1,400	$0.76	44d	1	1.13mi
300 University Ave Syracuse, NY	2.0	1.0	1020	$2,150	$2.11	14d	1	1.16mi
900 E Fayette St Syracuse, NY	1.0–2.0	1.0	817	$1,995	$2.44	14d	9	1.16mi
225 Marlborough Rd Syracuse, NY	2.0	1.0	1040	$1,800	$1.73	14d	1	1.17mi
210 W Division St Unit 24 Syracuse, NY	2.0	2.0	1200	$1,850	$1.54	22d	1	1.26mi
210 W Division St Unit 87 Syracuse, NY	2.0	2.0	1200	$1,750	$1.46	44d	1	1.27mi
721 N Clinton St Unit 213 Syracuse, NY	2.0	2.0	1000	$1,550	$1.55	44d	1	1.27mi
721 N Clinton St Unit 105 Syracuse, NY	2.0	2.0	1000	$1,475	$1.48	44d	1	1.27mi
417 Hazelhurst Ave Syracuse, NY	2.0	1.0	1536	$1,250	$0.81	22d	1	1.31mi
297 Norwood Ave Syracuse, NY	3.0	1.0	1188	$2,050	$1.73	22d	1	1.34mi
917 Madison St #5 Syracuse, NY	2.0	1.0	1000	$1,600	$1.60	44d	1	1.34mi
502 University Ave Syracuse, NY	1.0–2.0	1.0	950	$1,450	$1.53	14d	2	1.38mi
60 Presidential Plz Syracuse, NY	1.0–2.0	1.0–1.5	970	$1,315	$1.36	44d	1	1.39mi
1108 Madison St Unit 2 Syracuse, NY	3.0	1.5	1580	$2,080	$1.32	44d	1	1.39mi
208 W Water St Syracuse, NY	2.0	2.0	962	$1,800	$1.87	44d	1	1.43mi
1507 N Salina St Unit 3 Syracuse, NY	3.0	2.0	1030	$1,350	$1.31	44d	1	1.47mi
319 S Salina St Syracuse, NY	2.0	2.0	1860	$2,000	$1.08	22d	1	1.47mi
321 S Salina St Unit 201 Syracuse, NY	2.0	1.0	1446	$2,450	$1.69	44d	1	1.48mi
321 S Salina St Unit 501 Syracuse, NY	2.0	1.0	1446	$3,000	$2.07	44d	1	1.48mi
205 E Jefferson St Unit 2B Syracuse, NY	2.0	2.5	1100	$2,200	$2.00	22d	1	1.48mi
201 E Jefferson St Syracuse, NY	2.0	1.0	662	$1,626	$2.45	14d	9	1.49mi
129 W Fayette St Unit 217 Syracuse, NY	2.0	2.0	1100	$1,550	$1.41	14d	1	1.50mi

Listing history 6 events

1. 2026-04-28
   status Pending
2. 2026-04-23
   listed $184,900 Active
3. 2012-09-04
   soldstatus $84,900 639-char remark

   Show marketing remark (639 chars)

   CHARMING "SEDGWICK" COLONIAL! Shows like a "MODEL"! Front entry porch! Oversized livingroom w/ OAK hardwoods! Oversized familyroom w/ NEW GAS FIREPLACE+OAK hardwoods+built-in book shelves & cabinets! UPDATED eat-in kitchen w/ CERAMIC floor+$AVE= ALL major appliances STAY!$! UPDATED half-bath w/ PEDESTAL sink! 1ST floor office or bedroom! 2ND floor has two LARGE bedrooms+LARGE bath w/ CERAMIC floor+LARGE WALK-IN closet! Open back porch! LARGE 1.5 car GARAGE! GORGEOUS PROFESSIONAL landscaping+ORNAMENTAL IRON fenced lot+large SLATE patio! NEW roof+H. E. windows+added INSULATION+repainted in & out+ETC. ! WOW

4. 2012-08-30
   soldstatus $85,000
5. 2012-06-11
   listed $84,900 639-char remark

   Show marketing remark (639 chars)

   CHARMING "SEDGWICK" COLONIAL! Shows like a "MODEL"! Front entry porch! Oversized livingroom w/ OAK hardwoods! Oversized familyroom w/ NEW GAS FIREPLACE+OAK hardwoods+built-in book shelves & cabinets! UPDATED eat-in kitchen w/ CERAMIC floor+$AVE= ALL major appliances STAY!$! UPDATED half-bath w/ PEDESTAL sink! 1ST floor office or bedroom! 2ND floor has two LARGE bedrooms+LARGE bath w/ CERAMIC floor+LARGE WALK-IN closet! Open back porch! LARGE 1.5 car GARAGE! GORGEOUS PROFESSIONAL landscaping+ORNAMENTAL IRON fenced lot+large SLATE patio! NEW roof+H. E. windows+added INSULATION+repainted in & out+ETC. ! WOW

6. 2009-03-24
   soldstatus $82,800

ⓘ 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: $1,237 · $103/mo
• Projected year-2 tax: $2,181 · $182/mo
• Expected delta: +$944/yr (+$79/mo · 76.3%)

ⓘ 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 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: $21,691
• − Mortgage interest: −$10,357
• − Property taxes: −$1,237
• − Insurance: −$924
• − Repairs & maintenance: −$1,735
• − Management: −$1,735
• − Depreciation: −$5,379
• Taxable income: $323
• Est. tax owed @ 24.0%: −$77
• After-tax cash flow: $3,261/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

+123.3% since first listed

6 events — show timeline

• 2026-04-28 Pending — CNYIS
• 2026-04-23 Listed $184,900 CNYIS
• 2012-09-04 Sold (MLS) $84,900 CNYIS
• 2012-08-30 Sold (Public Records) $85,000 Public Records
• 2012-06-11 Listed $84,900 CNYIS
• 2009-03-24 Sold (Public Records) $82,800 Public Records

Property tax history

+0.1%/yr

Latest (2025): $1,237 · +0.0% YoY. Source: county tax records.