98 E Court St · Cortland, NY 13045

$157,900

3 bd · 1.5 ba · 1,410 sqft · SingleFamily public records · 32 Days on market

Built 1900 2,891 sqft lot Est $175k · 10% 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 +19.0/30.0
• ARV discount +11.9/15.0
• 1% rule +6.2/10.0
• DSCR +6.0/10.0
• Rent growth +4.6/5.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This charming 3-bedroom, 1.5-bath Cortland home offers the perfect blend of classic character and everyday comfort. Beautiful hardwood floors flow throughout the home creating warmth and timeless appeal. Step in from the inviting front porch to find spacious, light-filled rooms and a functional layout designed for comfortable living. The updated kitchen features fresh paint, along with a newer stove and dishwasher. A convenient first-floor half bath adds extra functionality for guests and busy mornings. Upstairs, you’ll find three bedrooms with hardwood floors and a full bath. Whether you’re a first-time home buyer looking for more space or searching for an investment opportunit

Key facts

• Desirable location
• Updated kitchen
• Hardwood floors

Tags

• HARDWOOD FLOORS
• UPDATED KITCHEN
• FIRST-FLOOR HALF BATH
• DESIRABLE LOCATION

Property features AI

Finance

• Other: Rectangular residential lot near public transit; lot dimensions approximately 45 x 63

Exterior

• Parking: No garage
• Utilities: Electricity connected; Gas water heater; Public water connected; Sewer connected; Cable available; High-speed internet available
• Home design: 2 stories; Existing construction; Shingle roof; Aluminum siding
• Construction: Block and stone foundation
• Exterior features: Blacktop driveway; Enclosed porch; Open porch

Interior

• Kitchen: Gas oven; Gas range; Dishwasher; Refrigerator
• Bedrooms: Total of 8 rooms including living spaces and laundry
• Flooring: Hardwood; Varied flooring
• Bathrooms: 1 full bathroom; 1 half bathroom; 1 main-level bathroom
• Heating & cooling: Gas forced-air heating; Central air conditioning
• Interior features: Ceiling fan(s); Separate/formal dining room; Separate/formal living room; Natural woodwork; Thermal windows
• Laundry & utility: Washer and dryer; Laundry located in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $158k.

Deal economics

• At list price, monthly cash flow is $108 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $158k).
• Recommended offer: $153k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 6.2% in Cortland — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 77/100 on livability (#201 in NY, #3,105 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, employment D, commute F.
• Cortland City School District (town): math 49% / reading 54% proficiency, ranked #368 of 590 in NY (top 62%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Randall Middle School (math 48% / reading 48%, grade C-, #305 of 729 statewide, top 42%, 263 students, 59% FRL); Cortland High School (math 92% / reading 92%, grade A+, #171 of 1,100 statewide, top 18%, 596 students, 42% FRL).
• Zoned-school proficiency averages 70% at this address vs 52% district-wide (+18 pts) — the actual schools serving this property are materially stronger than the Cortland City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+8.4%/yr); 141 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 45 units permitted in Cortland County in 2024 (12 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Cortland County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $44k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $153,163 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.12% ✓
• Cap rate: 7.54%
• Cash-on-cash: 4.45%
• DSCR: 1.20
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $174,840
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
90 E Court St	0.04mi	4/1.5 (+1)	1,430 (+1%)	8mo	$170,000	$119	84
19 Cedar St	0.42mi	3/2.0	1,422 (+1%)	10mo	$200,000	$141	69
5 Brook Dr	0.53mi	3/1.0	1,387 (-2%)	10mo	$169,229	$122	62
107 Pendleton St	0.38mi	3/1.0	1,344 (-5%)	14mo	$144,900	$108	61
120 Elm St	0.19mi	2/1.5 (-1)	1,254 (-11%)	9mo	$131,000	$104	61
17 Cedar St	0.41mi	4/1.5 (+1)	1,500 (+6%)	7mo	$220,000	$147	60
4 Cedar St	0.35mi	3/1.5	1,210 (-14%)	1mo	$184,000	$152	59
22 Hyatt St	0.26mi	4/1.5 (+1)	1,584 (+12%)	10mo	$180,000	$114	54
98 Clinton Ave	0.42mi	4/1.5 (+1)	1,512 (+7%)	11mo	$164,000	$108	54
108 Pendleton St	0.39mi	3/2.0	1,256 (-11%)	10mo	$175,900	$140	53
87 River St	0.31mi	2/2.0 (-1)	1,233 (-13%)	11mo	$205,000	$166	48
11 Randall St	0.69mi	4/2.0 (+1)	1,507 (+7%)	10mo	$187,000	$124	41

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: -5.3%
• Equity multiple: 0.79×
• Total profit: $-9,164
• Equity at exit: $23,543

10-year hold

• IRR: 10.2%
• Equity multiple: 2.00×
• Total profit: $44,178
• Equity at exit: $13,652

Cash invested: $44,212 (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 13045

• Home prices YoY: -9.3%
• Rents YoY: 8.4%
• Active inventory: 141
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,774 high
• Mortgage (P&I): −$828
• Tax from tax record: −$344 /mo · $4,123/yr
• Insurance: −$66
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $108

Break-even live

Break-even rent $1,637

Max offer price $157,900

Occupancy floor 89%

Sensitivity live

Price	-10% $198	-5% $153	+0% $108	+5% $64	+10% $19
Rent	-10% $-32	-5% $38	+0% $108	+5% $178	+10% $248
Rate	-1.0pp $188	-0.5pp $148	base $108	+0.5pp $67	+1.0pp $26

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: $39,475
• Closing costs: $4,737
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
88 Clinton Ave Cortland, NY	3.0	1.0	1100	$1,600	$1.45	45d	1	0.44mi
24 Kellogg Rd Cortland, NY	1.0–3.0	1.0–1.5	1070	$1,405	$1.31	45d	1	0.45mi
30 Randall St Cortland, NY	2.0	1.0	943	$1,500	$1.59	45d	1	0.56mi
109 Main St Unit 2 and 4 Cortland, NY	3.0	1.0	1200	$1,775	$1.48	45d	1	0.68mi
31 James St Cortland, NY	3.0	1.5	1319	$3,600	$2.73	45d	1	0.98mi
3 Morningside Dr Cortland, NY	3.0	1.5	1464	$2,150	$1.47	45d	1	1.00mi

Listing history 24 events

1. 2026-06-21
   days on market $157,900 Active 32 DOM
2. 2026-06-19
   days on market $157,900 Active 30 DOM
3. 2026-06-18
   days on market $157,900 Active 29 DOM
4. 2026-06-17
   days on market $157,900 Active 28 DOM
5. 2026-06-16
   days on market $157,900 Active 27 DOM
6. 2026-06-15
   days on market $157,900 Active 26 DOM
7. 2026-06-14
   days on market $157,900 Active 24 DOM
8. 2026-06-12
   days on market $157,900 Active 23 DOM
9. 2026-06-09
   days on market $157,900 Active 20 DOM
10. 2026-06-08
    days on market $157,900 Active 19 DOM
11. 2026-06-07
    days on market $157,900 Active 18 DOM
12. 2026-06-05
    days on market $157,900 Active 15 DOM
13. 2026-06-03
    days on market $157,900 Active 14 DOM
14. 2026-06-02
    days on market $157,900 Active 13 DOM
15. 2026-06-01
    days on market $157,900 Active 12 DOM
16. 2026-05-31
    days on market $157,900 Active 11 DOM
17. 2026-05-30
    days on market $157,900 Active 10 DOM
18. 2026-05-18
    listed $157,900 Active
19. 2025-12-28
    historical
20. 2025-12-25
    historical
21. 2025-12-25
    historical
22. 2025-11-21
    status Pending
23. 2025-10-13
    historical Active Under Contract
24. 2025-08-30
    listed $155,000 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: $4,123 · $344/mo
• Projected year-2 tax: $4,123 · $344/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 7/10 Severe FEMA zone X (unshaded) · 95% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 8 d/yr ≥92°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 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: $21,285
• − Mortgage interest: −$8,845
• − Property taxes: −$4,123
• − Insurance: −$1,456
• − Repairs & maintenance: −$1,703
• − Management: −$1,703
• − Depreciation: −$4,593
• Taxable loss: −$1,138
• Est. tax savings @ 24.0%: +$273
• After-tax cash flow: $1,573/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: Cortland City School District
• NCES district ID: 3608460
• Math proficiency: 49% ▲ 6.00%
• Reading proficiency: 54% ▲ 17.00%
• Median HH income: $42,413
• Composite: 43.29/100
• National rank: #3041
• State rank: #368 of 590 in NY

Livability — Cortland

• Score: 77/100
• State rank: #201
• US rank: #3105

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cortland, NY
• County: Cortland County · 28,361 people
• City population: 28,361
• Metro: Cortland, NY
• Population (ZIP): 28,361
• Household income: $69,961
• Rent vs Own: 41.7% rent · 58.3% own
• Severe rent burden: 1488.0

Population outlook (Cortland County) Hauer SSP2

• Today (2025): 47,543 people
• By 2030: 46,107 · -3.0%
• By 2040: 43,122 · -9.3%
• By 2050: 40,216 · -15.4%
• By 2075: 34,717 · -27.0%
• By 2100: 28,953 · -39.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 5% Hispanic / Latino 5% Black 3% Asian 2%
• Common ancestry: Romanian 4% Lithuanian 2% Italian 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 94% English-only · Spanish 2% Russian/Polish/Slavic 2% Other Indo-European 1%

Political lean MEDSL · Cortland

• 2024 margin: Lean R (+6.4) · D 46.8% · R 53.2%
• 2008→2024 swing: -16.4pp toward R · 2008: 10.0pp · 2024: -6.4pp
• All cycles: 2024: R+6.4 2020: R+1.9 2016: R+6.7 2012: D+8.8 2008: D+10.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -29.78%
• Current HPI: 289.515
• Rent YoY: ▲ 8.37%
• Metro: Cortland, 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

+1.9% since first listed

7 events — show timeline

• 2026-05-18 Listed $157,900 CNYIS
• 2025-12-28 Listing Removed — CNYIS
• 2025-12-25 Listing Removed — CNYIS
• 2025-12-25 Listing Removed — CNYIS
• 2025-11-21 Pending — CNYIS
• 2025-10-13 Contingent — CNYIS
• 2025-08-30 Listed $155,000 CNYIS

Property tax history

+1.0%/yr

Latest (2025): $4,123 · +4.7% YoY. Source: county tax records.