104 Lafayette Ave · Cleveland, NY 13032

$119,900

1 bd · 1.0 ba · 1,372 sqft · SingleFamily public records · 19 Days on market

Built 1985 10,019 sqft lot $87/sqft · 51% below area

---

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 +15.4/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• Schools +5.4/10.0
• DSCR +4.7/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Calling all investors! Located just off Route 31 on almost 1/4 of an acre, this property offers a ton of potential and Oneida Lake is right at the end of the street! The home offers 4 beds and 2.5 baths, 1st floor laundry, a primary bedroom with full bathroom on the first floor as well and a full basement! Property is in need of rehab. Possibility of beach access through the lake association as well, buyer to confirm. Don't wait, schedule your showing today!

Key facts

• Oneida lake
• 1/4 of an acre
• Full basement

Tags

• ONEIDA LAKE
• BEACH ACCESS
• 1/4 OF AN ACRE
• FULL BASEMENT

Property features AI

Exterior

• Parking: No garage
• Utilities: Electricity connected; Public water connected; Sewer connected
• Home design: One-story property; Resale home
• Construction: Vinyl siding; Shingle roof; Block foundation; Existing (previously built)
• Exterior features: Gravel driveway; Rectangular residential lot (approximately 0.23 acres, 100 x 100); City street frontage

Interior

• Kitchen: Gas cooktop
• Bedrooms: Two main-level bedrooms
• Flooring: Carpet; Laminate; Varies
• Bathrooms: Two full bathrooms; One half bathroom; Two bathrooms on the main level
• Heating & cooling: Gas heating; Baseboard heating; Hot water heating
• Interior features: Separate/formal living room; Country kitchen; Primary bedroom with private bath; Main-level primary bedroom; Has a full basement
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $45 ($542/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $118k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.7% vs local median 3.2% in Cleveland — 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 55/100 on livability (#1,137 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Chittenango Central School District (rural): math 61% / reading 64% proficiency, ranked #192 of 590 in NY (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 53 active listings in the ZIP; 137 units permitted in Madison County in 2024 (46 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($829 loan paydown + $12k appreciation (10.0% local appreciation)).
• Madison County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $59k; list at $120k implies a 103% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price.

Recommended offer $118,101 (1.5% below list)

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.11% ✓
• Cap rate: 6.75%
• Cash-on-cash: 1.61%
• DSCR: 1.07
• GRM: 7.5

CMA / ARV

• ARV (median comp): $245,625
• List price: $119,900
• Delta: -51.19%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 25.5%
• Equity multiple: 3.03×
• Total profit: $68,305
• Equity at exit: $108,015

10-year hold

• IRR: 22.5%
• Equity multiple: 6.93×
• Total profit: $199,136
• Equity at exit: $232,939

Cash invested: $33,572 (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 13032

• Home prices YoY: 5.7%
• Active inventory: 53
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,326 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$324 /mo · $3,886/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $45

Break-even live

Break-even rent $1,269

Max offer price $119,900

Occupancy floor 92%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-01
   listed $119,900 Active 463-char remark
2. 1995-05-22
   soldstatus $59,000
3. 1994-04-15
   soldstatus $17,500
4. 1993-10-01
   soldstatus $43,250

ⓘ 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: $3,886 · $324/mo
• Projected year-2 tax: $3,886 · $324/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 ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,914
• − Mortgage interest: −$6,716
• − Property taxes: −$3,886
• − Insurance: −$600
• − Repairs & maintenance: −$1,273
• − Management: −$1,273
• − Depreciation: −$3,488
• Taxable loss: −$1,321
• Est. tax savings @ 24.0%: +$317
• After-tax cash flow: $859/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: Chittenango Central School District
• NCES district ID: 3607470
• Math proficiency: 61% ▼ -4.00%
• Reading proficiency: 64% ▲ 9.00%
• Median HH income: $62,521
• Composite: 54.34/100
• National rank: #1365
• State rank: #192 of 590 in NY

Livability — Cleveland

• Score: 55/100
• State rank: #1137
• US rank: #23552

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 12,964

Population outlook (Madison County) Hauer SSP2

• Today (2025): 69,528 people
• By 2030: 66,599 · -4.2%
• By 2040: 59,814 · -14.0%
• By 2050: 52,842 · -24.0%
• By 2075: 39,167 · -43.7%
• By 2100: 28,442 · -59.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 8% Hispanic / Latino 2% Black 2%
• Common ancestry: Romanian 5% Iranian 5% Lithuanian 4%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Russian/Polish/Slavic 2% French/Haitian/Cajun 1% Spanish 1%

Political lean MEDSL · Madison

• 2024 margin: R (+13.1) · D 43.5% · R 56.5%
• 2008→2024 swing: -13.9pp toward R · 2008: 0.9pp · 2024: -13.1pp
• All cycles: 2024: R+13.1 2020: R+10.6 2016: R+15.9 2012: D+0.3 2008: D+0.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 13.44%
• Current HPI: 251.5471
• 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

+177.2% since first listed

5 events — show timeline

• 2026-05-20 Pending — CNYIS
• 2026-05-01 Listed $119,900 CNYIS
• 1995-05-22 Sold (Public Records) $59,000 Public Records
• 1994-04-15 Sold (Public Records) $17,500 Public Records
• 1993-10-01 Sold (Public Records) $43,250 Public Records

Property tax history

+3.5%/yr

Latest (2025): $3,886 · +4.4% YoY. Source: county tax records.