671 County Route 3 · Fulton, NY 13069

$134,900

3 bd · 2.0 ba · 1,688 sqft · SingleFamily public records · 6 Days on market

Built 1890 2.62 ac lot

---

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 +24.0/30.0
• Appreciation +8.4/10.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Schools +3.8/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

This classic 3 BR / 1.5 BA country farmhouse offers plenty of potential with important updates already in place, including a modern heating system, updated electrical panel and metal roof. Inside, you’ll find bright rooms, 1st floor bedroom, 1st floor full bath, and a spacious country kitchen area. Yes, this home has updates to make -- with its solid structure and outstanding potential, this property is an excellent opportunity for anyone dreaming of restoring a farmhouse to its former charm.

Key facts

• Metal roof
• 2.62 acre lot
• Garage

Tags

• MODERN HEATING SYSTEM
• UPDATED ELECTRICAL PANEL
• METAL ROOF
• SPACIOUS COUNTRY KITCHEN

Property features AI

Exterior

• Parking: Attached 1-car garage
• Utilities: Public water connected; Septic tank sewer; Circuit breaker electrical
• Home design: Single-story home; Existing (previously built)
• Construction: Vinyl siding; Metal roof; Stone foundation; Resale condition
• Exterior features: Gravel driveway; Rectangular lot

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: 1 main-level bedroom
• Flooring: Carpet; Hardwood; Laminate; Varied flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Eat-in kitchen; Bedroom on main level; Full basement
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $265 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Cap rate 8.7% vs local median 6.9% in Fulton — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 61/100 on livability (#907 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, schools D-, crime F.
• Hannibal Central School District (rural): math 38% / reading 50% proficiency, ranked #471 of 590 in NY (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 115 active listings in the ZIP; 172 units permitted in Oswego County in 2024 (27 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($933 loan paydown + $9k appreciation (6.8% local appreciation)).
• Oswego County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.8% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

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

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $134,900

Questions for the listing agent

1. Built in 1890 — 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: 1.19% ✓
• Cap rate: 8.65%
• Cash-on-cash: 8.43%
• DSCR: 1.38
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $278,520
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
539 County Route 3	0.64mi	3/2.0	1,815 (+8%)	3mo	$300,000	$165	55

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

Projected returns pro-forma

6.75% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.9%
• Equity multiple: 2.64×
• Total profit: $61,978
• Equity at exit: $91,250

10-year hold

• IRR: 22.3%
• Equity multiple: 5.44×
• Total profit: $167,893
• Equity at exit: $171,350

Cash invested: $37,772 (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 13069

• Home prices YoY: 2.3%
• Active inventory: 115
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,611 medium
• Mortgage (P&I): −$707
• Tax from tax record: −$243 /mo · $2,920/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $265

Break-even live

Break-even rent $1,275

Max offer price $134,900

Occupancy floor 79%

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-15
   status Pending
2. 2026-05-08
   listed $134,900 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: $2,920 · $243/mo
• Projected year-2 tax: $2,920 · $243/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,326
• − Mortgage interest: −$7,556
• − Property taxes: −$2,920
• − Insurance: −$674
• − Repairs & maintenance: −$1,546
• − Management: −$1,546
• − Depreciation: −$3,924
• Taxable income: $1,159
• Est. tax owed @ 24.0%: −$278
• After-tax cash flow: $2,906/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: Hannibal Central School District
• NCES district ID: 3613590
• Math proficiency: 38% ▬ 0.00%
• Reading proficiency: 50% ▲ 15.00%
• Median HH income: $48,283
• Composite: 37.6/100
• National rank: #4380
• State rank: #471 of 590 in NY

Livability — Fulton

• Score: 61/100
• State rank: #907
• US rank: #17723

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 23,176

Population outlook (Oswego County) Hauer SSP2

• Today (2025): 114,465 people
• By 2030: 109,968 · -3.9%
• By 2040: 99,205 · -13.3%
• By 2050: 87,979 · -23.1%
• By 2075: 65,100 · -43.1%
• By 2100: 47,117 · -58.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Lithuanian 6% Romanian 6% Iranian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Oswego

• 2024 margin: Strong R (+24.2) · D 37.9% · R 62.1%
• 2008→2024 swing: -26.6pp toward R · 2008: 2.5pp · 2024: -24.2pp
• All cycles: 2024: R+24.2 2020: R+20.2 2016: R+23.2 2012: D+7.9 2008: D+2.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.75%
• Current HPI: 304.443
• 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

2 events — show timeline

• 2026-05-15 Pending — CNYIS
• 2026-05-08 Listed $134,900 CNYIS

Property tax history

+2.7%/yr

Latest (2025): $2,920 · +1.3% YoY. Source: county tax records.