191 Lansingville Rd · South Lansing, NY 14882

$150,000

2 bd · 2.0 ba · 600 sqft · Manufactured public records · 1 Days on market

Built 1964 0.78 ac lot

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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 +25.0/30.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• Schools +5.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

1964 Mobile Home on . 77 Acres with 2-Bay Garage Opportunity awaits on this spacious 0.77-acre property featuring a 1964 mobile home, a large 2-bay garage, and a newer roof. The generous lot provides plenty of room for vehicles, equipment, hobbies, gardening, or future improvements. The detached garage offers excellent storage and workspace potential, making this property ideal for mechanics, hobbyists, or anyone needing extra space. Enjoy the privacy and flexibility of a sizable lot while benefiting from the value of the existing home and outbuildings. Whether you're looking for an investment property, a weekend retreat, or a place to make your own, this property offers endless possibil

Key facts

• 0.77-acre lot
• Newer roof
• Room for expansion

Tags

• 0.77-ACRE LOT
• DETACHED 2-BAY GARAGE
• NEWER ROOF
• ROOM FOR EXPANSION
• ROOM FOR GARDENING

Property features AI

Exterior

• Parking: Detached garage; Gravel driveway; Garage with 2 parking spaces
• Utilities: Well water; Septic tank; Electricity connected
• Home design: Single-wide mobile home; One level / single-story
• Construction: Vinyl siding; Asphalt roof; Other/see remarks foundation
• Exterior features: Rectangular lot; 200 x 170 lot dimensions; 0.77-acre lot

Interior

• Kitchen: Gas cooktop; Gas oven; Gas range; Refrigerator
• Bedrooms: 2 main-level bedrooms
• Flooring: Carpet; Laminate; Varies
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Propane heating; Oil heating; Wall unit cooling
• Interior features: Eat-in kitchen; Crawl space basement; 6 total rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $150k.

Deal economics

• At list price, monthly cash flow is $327 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 8.9% vs local median 2.2% in South Lansing — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Lansing Central School District (rural): math 53% / reading 62% proficiency, ranked #244 of 590 in NY (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Raymond C Buckley Elementary School (math 37% / reading 67%, grade C-, #988 of 2,108 statewide, top 49%, 405 students, 32% FRL); Lansing Middle School (math 47% / reading 60%, grade C+, #228 of 729 statewide, top 31%, 366 students, 33% FRL); Lansing High School (math 98% / reading 70%, grade A, #409 of 1,100 statewide, top 39%, 383 students, 30% FRL).
• Market conditions: 29 active listings in the ZIP; 382 units permitted in Tompkins County in 2024 (208 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 $4k of value loss. Plan a longer hold.
• Tompkins County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $150,000

Questions for the listing agent

1. Built in 1964 — 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. 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.
4. 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.
5. 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: 1.17% ✓
• Cap rate: 8.91%
• Cash-on-cash: 9.35%
• DSCR: 1.42
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -2.2%
• Equity multiple: 0.92×
• Total profit: $-3,423
• Equity at exit: $22,365

10-year hold

• IRR: 7.6%
• Equity multiple: 1.57×
• Total profit: $24,020
• Equity at exit: $12,969

Cash invested: $42,000 (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 14882

• Home prices YoY: -11.0%
• Active inventory: 29
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,753 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$208 /mo · $2,499/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $327

Break-even live

Break-even rent $1,338

Max offer price $150,000

Occupancy floor 76%

Sensitivity live

Price	-10% $412	-5% $370	+0% $327	+5% $285	+10% $242
Rent	-10% $189	-5% $258	+0% $327	+5% $397	+10% $466
Rate	-1.0pp $403	-0.5pp $365	base $327	+0.5pp $288	+1.0pp $249

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-18
   status $150,000 Pending 1 DOM
2. 2026-06-18
   remarks 699-char remark
3. 2026-06-18
   listed $150,000 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: $2,499 · $208/mo
• Projected year-2 tax: $2,517 · $210/mo
• Expected delta: +$18/yr (+$2/mo · 0.7%)

ⓘ 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 2/10 Low 6 d/yr ≥95°F today · 13 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: $21,032
• − Mortgage interest: −$8,402
• − Property taxes: −$2,499
• − Insurance: −$750
• − Repairs & maintenance: −$1,683
• − Management: −$1,683
• − Depreciation: −$4,364
• Taxable income: $1,652
• Est. tax owed @ 24.0%: −$397
• After-tax cash flow: $3,531/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: Lansing Central School District
• NCES district ID: 3616710
• Math proficiency: 53% ▼ -9.00%
• Reading proficiency: 62% ▲ 2.00%
• Median HH income: $70,215
• Composite: 50.9/100
• National rank: #1788
• State rank: #244 of 590 in NY

Livability — South Lansing

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 4,193

Population outlook (Tompkins County) Hauer SSP2

• Today (2025): 113,958 people
• By 2030: 118,774 · +4.2%
• By 2040: 125,927 · +10.5%
• By 2050: 133,599 · +17.2%
• By 2075: 156,759 · +37.6%
• By 2100: 169,896 · +49.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 3% Two or more races 3% Black 3%
• Common ancestry: Italian 4% Romanian 3% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Other Indo-European 2% German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Tompkins

• 2024 margin: Solid D (+50.6) · D 75.3% · R 24.7%
• 2008→2024 swing: +8.6pp toward D · 2008: 42.1pp · 2024: 50.6pp
• All cycles: 2024: D+50.6 2020: D+49.2 2016: D+42.1 2012: D+39.8 2008: D+42.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -47.13%
• Current HPI: 380.8807
• 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

• 2026-06-17 Listed $150,000 IBRMLS

Property tax history

+6.1%/yr

Latest (2025): $2,499 · +4.4% YoY. Source: county tax records.