13 Lake St · Mount Morris, NY 14510

$49,900

2 bd · 1.0 ba · 928 sqft · SingleFamily public records · 6 Days on market

Built 1900 1,649 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +4.6/10.0
• Schools +3.3/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Opportunity awaits with this Village of Mount Morris property featuring a newer heating system and a convenient location just around the corner from Main Street. This home is ready for renovation and offers plenty of potential for investors, flippers, or buyers looking to build equity through improvements. Bring your vision and creativity to transform this property into something special.

Key facts

• Ready for renovation
• Convenient location
• Newer heating system

Tags

• NEWER HEATING SYSTEM
• CONVENIENT LOCATION
• READY FOR RENOVATION
• PLENTY OF POTENTIAL

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water (connected); Sewer connected; Circuit breaker electrical service
• Home design: Single-story property; Resale property
• Construction: Vinyl siding; Copper plumbing; Insulated concrete forms; Crawl space foundation; Existing (previously built)
• Exterior features: Blacktop driveway; Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Gas cooktop; Refrigerator
• Bedrooms: 5 total rooms (includes bedrooms and other living spaces)
• Flooring: Hardwood; Varies
• Bathrooms: 1 full bathroom
• Heating & cooling: Gas heating; Baseboard heating; Hot water heating
• Interior features: Eat-in kitchen; Other features (see remarks)
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $509 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).

Location & tenants

• Location reads 59/100 on livability (#1,027 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime B; Watch: schools F, amenities F, commute F.
• Mount Morris Central School District (town): math 31% / reading 47% proficiency, ranked #537 of 590 in NY (top 91%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 27 active listings in the ZIP; 86 units permitted in Livingston County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-0.8%/yr); year-one equity from $345 of loan paydown is wiped out by about $407 of value loss. Plan a longer hold.
• Livingston County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.8% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $49,900

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-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. 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: 2.28% ✓
• Cap rate: 18.53%
• Cash-on-cash: 43.70%
• DSCR: 2.94
• GRM: 3.7

CMA / ARV

• ARV (on-the-fly): $166,112
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3 Bonadonna Ave	0.67mi	2/2.0	922 (-1%)	20mo	$165,000	$179	46
41 Grove St	0.40mi	3/1.0 (+1)	1,064 (+15%)	16mo	$127,000	$119	39

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

Projected returns pro-forma

-0.82% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 43.8%
• Equity multiple: 3.08×
• Total profit: $29,109
• Equity at exit: $12,486

10-year hold

• IRR: 47.5%
• Equity multiple: 6.14×
• Total profit: $71,757
• Equity at exit: $13,491

Cash invested: $13,972 (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 14510

• Home prices YoY: -0.3%
• Active inventory: 27
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,139 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$109 /mo · $1,303/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $509

Break-even live

Break-even rent $495

Max offer price $49,900

Occupancy floor 50%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-18
   days on market $49,900 Active 6 DOM
2. 2026-06-17
   days on market $49,900 Active 5 DOM
3. 2026-06-16
   days on market $49,900 Active 4 DOM
4. 2026-06-15
   days on market $49,900 Active 3 DOM
5. 2026-06-13
   remarks 391-char remark
6. 2026-06-13
   listed $49,900 Active 1 DOM

ⓘ 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: $1,303 · $109/mo
• Projected year-2 tax: $1,303 · $109/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,669
• − Mortgage interest: −$2,795
• − Property taxes: −$1,303
• − Insurance: −$250
• − Repairs & maintenance: −$1,093
• − Management: −$1,093
• − Depreciation: −$1,452
• Taxable income: $5,682
• Est. tax owed @ 24.0%: −$1,364
• After-tax cash flow: $4,742/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: Mount Morris Central School District
• NCES district ID: 3620010
• Math proficiency: 31% ▼ -3.00%
• Reading proficiency: 47% ▲ 10.00%
• Median HH income: $42,913
• Composite: 32.93/100
• National rank: #5596
• State rank: #537 of 590 in NY

Livability — Mount Morris

• Score: 59/100
• State rank: #1027
• US rank: #20058

Category grades

Amenities F Commute F Cost of living A+ Crime B Employment D- Housing A+ Health & safety D- User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mount Morris, NY
• Population (ZIP): 4,781

Population outlook (Livingston County) Hauer SSP2

• Today (2025): 63,466 people
• By 2030: 61,966 · -2.4%
• By 2040: 58,398 · -8.0%
• By 2050: 54,955 · -13.4%
• By 2075: 49,958 · -21.3%
• By 2100: 43,944 · -30.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 6% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Portuguese 4% Lithuanian 2% Serbian 2%
• Foreign-born: 1%
• Languages at home: 94% English-only · Spanish 3% German/W. Germanic 2% French/Haitian/Cajun 1%

Political lean MEDSL · Livingston

• 2024 margin: Strong R (+21.4) · D 39.3% · R 60.7%
• 2008→2024 swing: -13.6pp toward R · 2008: -7.9pp · 2024: -21.4pp
• All cycles: 2024: R+21.4 2020: R+18.2 2016: R+27.8 2012: R+9.4 2008: R+7.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.82%
• Current HPI: 250.0593
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-06-08 Listed $49,900 UNYREIS

Property tax history

+0.6%/yr

Latest (2025): $1,303 · -3.1% YoY. Source: county tax records.