169 Martin St · Syracuse, NY 13208

$149,900

3 bd · 1.0 ba · 1,028 sqft · SingleFamily public records · 27 Days on market

Built 1950 5,016 sqft lot Est $145k · at est.

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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 +23.9/30.0
• Appreciation +10.0/10.0
• DSCR +7.7/10.0
• ARV discount +6.0/15.0
• 1% rule +5.1/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0

Listing remarks

Charming 3-bedroom, 1-bath, two-story home featuring a spacious layout with some tasteful updates inside. The property offers a 1-car garage for convenient parking or storage, and a fully fenced backyard that’s perfect for outdoor gatherings, pets, or gardening. With its classic two-story design and cozy living spaces, this home combines comfort and functionality, making it a great option for anyone looking for a property to make it their own.

Key facts

• 1 car garage
• 5,016 sq ft lot
• Garage

Tags

• FULLY FENCED BACKYARD
• 1 CAR GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $292 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $148k (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: 100 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 71% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• This rent runs 41% of the median local income ($45k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Onondaga County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $147,651 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — 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: 1.01% ✓
• Cap rate: 8.63%
• Cash-on-cash: 8.35%
• DSCR: 1.37
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $144,948
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
307 Malverne Dr	0.22mi	2/1.0 (-1)	1,056 (+3%)	4mo	$170,000	$161	77
232 Malverne Dr	0.26mi	3/1.5	1,142 (+11%)	1mo	$224,900	$197	67
164 Berkshire Ave	0.52mi	3/1.0	1,073 (+4%)	2mo	$116,900	$109	67
211 Merrill St	0.25mi	2/1.0 (-1)	1,125 (+9%)	3mo	$180,000	$160	65
1108 Wadsworth St	0.29mi	3/1.0	1,168 (+14%)	2mo	$165,000	$141	63
119 Lawrence St	0.70mi	3/1.0	1,008 (-2%)	3mo	$130,000	$129	62
113 Bellshire Ln	0.21mi	4/2.0 (+1)	924 (-10%)	3mo	$179,000	$194	61
497 Pleasantview Ave	0.73mi	3/1.5	1,056 (+3%)	1mo	$189,900	$180	59
819 Lemoyne Ave	0.55mi	2/1.5 (-1)	986 (-4%)	2mo	$125,000	$127	58
3137 Grant Blvd	0.63mi	4/1.0 (+1)	996 (-3%)	2mo	$104,500	$105	58
126 Delong Ave	0.54mi	2/1.0 (-1)	912 (-11%)	3mo	$90,000	$99	49
1212 Spring St	0.68mi	4/1.5 (+1)	1,115 (+8%)	4mo	$71,000	$64	44

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 30.3%
• Equity multiple: 3.39×
• Total profit: $100,176
• Equity at exit: $135,042

10-year hold

• IRR: 26.3%
• Equity multiple: 7.68×
• Total profit: $280,264
• Equity at exit: $291,223

Cash invested: $41,972 (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 13208

• Home prices YoY: 8.4%
• Active inventory: 100
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,514 high
• Mortgage (P&I): −$786
• Tax from tax record: −$55 /mo · $666/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $292

Break-even live

Break-even rent $1,144

Max offer price $149,900

Occupancy floor 76%

Sensitivity live

Price	-10% $377	-5% $334	+0% $292	+5% $250	+10% $207
Rent	-10% $172	-5% $232	+0% $292	+5% $352	+10% $412
Rate	-1.0pp $367	-0.5pp $330	base $292	+0.5pp $253	+1.0pp $214

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
286 Ross Park Syracuse, NY	3.0	1.0	1100	$1,500	$1.36	45d	1	0.15mi
1140 Wolf St Apt 3 Syracuse, NY	2.0	1.0	800	$1,200	$1.50	44d	1	0.39mi
1132 Wolf St Unit 4 Syracuse, NY	3.0	1.0	1041	$1,350	$1.30	44d	1	0.40mi
126 Woodruff Ave Syracuse, NY	3.0	1.0	1200	$1,675	$1.40	44d	1	0.89mi
106 Harrington St Syracuse, NY	3.0	1.0	1168	$1,875	$1.61	44d	1	0.96mi
912 Park St Unit 1 Syracuse, NY	3.0	1.0	1040	$1,200	$1.15	44d	1	1.00mi
1507 N Salina St Unit 3 Syracuse, NY	3.0	2.0	1030	$1,350	$1.31	44d	1	1.00mi
423 Wendell Ter Syracuse, NY	4.0	1.0	1312	$2,500	$1.91	14d	1	1.13mi
610 E Division St Unit F2 Syracuse, NY	2.0	1.0	900	$1,150	$1.28	44d	1	1.16mi
2802 Lemoyne Ave Unit 1 Syracuse, NY	3.0	1.0	988	$1,700	$1.72	14d	1	1.21mi
807-13 N Salina St Unit 809A Syracuse, NY	2.0	1.0	1020	$1,325	$1.30	44d	1	1.21mi
746 E Laurel St Unit 1 Syracuse, NY	4.0	2.0	1400	$1,500	$1.07	44d	1	1.27mi
746 E Laurel St Unit 2F Syracuse, NY	2.0	1.0	800	$1,100	$1.38	44d	1	1.27mi
205 Beecher St Unit 3 Syracuse, NY	2.0	1.0	815	$1,100	$1.35	44d	1	1.32mi
100 Buckley Rd Liverpool, NY	1.0–2.0	1.0–2.0	985	$3,850	$3.91	14d	1	1.35mi
212 Dorchester Ave Syracuse, NY	1.0–2.0	1.0	640	$1,420	$2.22	14d	15	1.38mi
721 N Clinton St Unit 105 Syracuse, NY	2.0	2.0	1000	$1,475	$1.48	44d	1	1.38mi
721 N Clinton St Unit 213 Syracuse, NY	2.0	2.0	1000	$1,550	$1.55	44d	1	1.38mi
210 W Division St Unit 24 Syracuse, NY	2.0	2.0	1200	$1,850	$1.54	22d	1	1.41mi
210 W Division St Unit 87 Syracuse, NY	2.0	2.0	1200	$1,750	$1.46	44d	1	1.43mi
517 N Salina St Unit 4 Syracuse, NY	2.0	1.0	700	$1,050	$1.50	14d	1	1.45mi

Listing history 4 events

1. 2025-12-08
   soldstatus $149,900
2. 2025-10-10
   status Pending
3. 2025-09-19
   historical Active Under Contract
4. 2025-09-13
   listed $149,900 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: $666 · $55/mo
• Projected year-2 tax: $1,600 · $133/mo
• Expected delta: +$934/yr (+$78/mo · 140.2%)

ⓘ 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 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: $18,167
• − Mortgage interest: −$8,397
• − Property taxes: −$666
• − Insurance: −$750
• − Repairs & maintenance: −$1,453
• − Management: −$1,453
• − Depreciation: −$4,361
• Taxable income: $1,087
• Est. tax owed @ 24.0%: −$261
• After-tax cash flow: $3,242/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): 22,993
• Household income: $44,712
• Rent vs Own: 50.8% rent · 49.2% own
• Severe rent burden: 1437.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 46% Black 24% Asian 14% Two or more races 10% Hispanic / Latino 6%
• Hispanic origin (detail): Puerto Rican 4% Dominican 1%
• Common ancestry: Romanian 3% Swedish 3% Italian 1%
• Foreign-born: 22% · Vietnam, Philippines, Canada
• Languages at home: 70% English-only · Spanish 6% Other Asian/Pacific 5% Vietnamese 4%

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: ▲ 30.91%
• Current HPI: 399.3284
• 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

+0.0% since first listed

4 events — show timeline

• 2025-12-08 Sold (Public Records) $149,900 Public Records
• 2025-10-10 Pending — CNYIS
• 2025-09-19 Contingent — CNYIS
• 2025-09-13 Listed $149,900 CNYIS

Property tax history

-0.9%/yr

Latest (2025): $666 · +0.0% YoY. Source: county tax records.