7 Cowpath Rd · Fulton, NY 13069

$59,900

2 bd · 2.0 ba · 980 sqft · Manufactured public records · 181 Days on market

Manufactured home Built 2001 Poor condition 1.34 ac lot $61/sqft · 32% below area Est $88k · 32% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +6.7/10.0
• Schools +5.1/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Manufactured-home adj. -6.7

Listing remarks MLS

Investor special! This two-bedroom, two-bath home offers convenient single-floor living on 1.3 acres, complete with two outbuildings for storage, workshop space, or hobby use. Bring your tools and your vision to make this property your own.

Key facts

• Two outbuildings
• Single-floor living
• 1.34 acre lot

Tags

• SINGLE-FLOOR LIVING
• TWO OUTBUILDINGS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $60k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $400 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.3% vs local median 5.2% in Fulton — 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 61/100 on livability (#907 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, crime F, amenities 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.
• Zoned schools: Fairley School (math 37% / reading 47%, grade F, #1,361 of 2,108 statewide, top 67%, 494 students, 69% FRL); Kenney Middle School (math 23% / reading 37%, grade F, #539 of 729 statewide, top 74%, 346 students, 78% FRL); Hannibal High School (math 82% / reading 77%, grade A-, #518 of 1,100 statewide, top 51%, 359 students, 73% FRL) — zoned schools average 73% FRL vs 52% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 226 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 $4k of equity ($414 loan paydown + $4k 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 $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 181 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $3k; list at $60k implies a 1735% gain — meaningful room to come down on a strong offer.

Recommended offer $52,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 181 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.77% ✓
• Cap rate: 14.30%
• Cash-on-cash: 28.61%
• DSCR: 2.27
• GRM: 4.7

CMA / ARV

• ARV (median comp): $87,750
• List price: $59,900
• Delta: -31.74%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
239 County Route 8	0.32mi	2/1.0	980 (0%)	4mo	$135,500	$138	78
315 Russell Rd	1.28mi	3/2.0 (+1)	980 (0%)	1mo	$40,000	$41	59
119 County Route 55	1.39mi	3/2.0 (+1)	980 (0%)	35mo	$53,000	$54	40
235 County Route 55	1.26mi	3/1.0 (+1)	1,152 (+18%)	15mo	$245,000	$213	19
451 Cole Rd	1.09mi	3/2.0 (+1)	1,120 (+14%)	23mo	$111,000	$99	17

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: 40.8%
• Equity multiple: 3.71×
• Total profit: $45,481
• Equity at exit: $40,518

10-year hold

• IRR: 37.4%
• Equity multiple: 7.76×
• Total profit: $113,318
• Equity at exit: $76,085

Cash invested: $16,772 (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 →

Seller's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 0 active · 1 under contract
• Months of supply: 0.0 mo

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 13069

• Home prices YoY: 2.3%
• Active inventory: 226
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,062 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$100 /mo · $1,198/yr
• Insurance: −$25
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $400

Break-even live

Break-even rent $556

Max offer price $59,900

Occupancy floor 57%

Sensitivity live

Price	-10% $434	-5% $417	+0% $400	+5% $383	+10% $366
Rent	-10% $316	-5% $358	+0% $400	+5% $442	+10% $484
Rate	-1.0pp $430	-0.5pp $415	base $400	+0.5pp $384	+1.0pp $369

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: $14,975
• Closing costs: $1,797
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-08-27
   days on market $59,900 Active 181 DOM
2. 2026-08-25
   days on market $59,900 Active 179 DOM
3. 2026-08-24
   days on market $59,900 Active 178 DOM
4. 2026-08-23
   days on market $59,900 Active 177 DOM
5. 2026-08-22
   days on market $59,900 Active 176 DOM
6. 2026-08-21
   days on market $59,900 Active 175 DOM
7. 2026-08-20
   days on market $59,900 Active 174 DOM
8. 2026-08-19
   days on market $59,900 Active 173 DOM
9. 2026-08-18
   days on market $59,900 Active 172 DOM
10. 2026-08-17
    days on market $59,900 Active 171 DOM
11. 2026-08-16
    days on market $59,900 Active 170 DOM
12. 2026-08-15
    days on market $59,900 Active 169 DOM
13. 2026-08-14
    days on market $59,900 Active 168 DOM
14. 2026-08-13
    days on market $59,900 Active 167 DOM
15. 2026-08-12
    days on market $59,900 Active 166 DOM
16. 2026-08-11
    days on market $59,900 Active 165 DOM
17. 2026-08-10
    days on market $59,900 Active 164 DOM
18. 2026-08-09
    days on market $59,900 Active 163 DOM
19. 2026-08-08
    days on market $59,900 Active 162 DOM
20. 2026-08-07
    days on market $59,900 Active 161 DOM
21. 2026-08-06
    days on market $59,900 Active 160 DOM
22. 2026-08-05
    days on market $59,900 Active 159 DOM
23. 2026-08-04
    days on market $59,900 Active 158 DOM
24. 2026-08-03
    days on market $59,900 Active 157 DOM
25. 2026-07-31
    days on market $59,900 Active 154 DOM
26. 2026-07-29
    days on market $59,900 Active 152 DOM
27. 2026-07-27
    days on market $59,900 Active 150 DOM
28. 2026-07-25
    days on market $59,900 Active 148 DOM
29. 2026-07-23
    days on market $59,900 Active 146 DOM
30. 2026-07-22
    days on market $59,900 Active 145 DOM
31. 2026-07-21
    days on market $59,900 Active 144 DOM
32. 2026-07-18
    days on market $59,900 Active 141 DOM
33. 2026-07-16
    days on market $59,900 Active 139 DOM
34. 2026-07-16
    days on market $59,900 Active 138 DOM
35. 2026-07-14
    days on market $59,900 Active 137 DOM
36. 2026-07-13
    days on market $59,900 Active 136 DOM
37. 2026-07-12
    days on market $59,900 Active 135 DOM
38. 2026-07-11
    days on market $59,900 Active 134 DOM
39. 2026-07-10
    days on market $59,900 Active 133 DOM
40. 2026-07-09
    days on market $59,900 Active 132 DOM
41. 2026-07-08
    days on market $59,900 Active 131 DOM
42. 2026-07-07
    days on market $59,900 Active 130 DOM
43. 2026-07-06
    days on market $59,900 Active 129 DOM
44. 2026-07-05
    days on market $59,900 Active 128 DOM
45. 2026-07-04
    days on market $59,900 Active 127 DOM
46. 2026-07-03
    days on market $59,900 Active 126 DOM
47. 2026-07-02
    days on market $59,900 Active 125 DOM
48. 2026-07-01
    days on market $59,900 Active 124 DOM
49. 2026-06-30
    days on market $59,900 Active 123 DOM
50. 2026-06-29
    days on market $59,900 Active 122 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: $1,198 · $100/mo
• Projected year-2 tax: $1,198 · $100/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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,740
• − Mortgage interest: −$3,355
• − Property taxes: −$1,198
• − Insurance: −$300
• − Repairs & maintenance: −$1,019
• − Management: −$1,019
• − Depreciation: −$1,743
• Taxable income: $4,106
• Est. tax owed @ 24.0%: −$986
• After-tax cash flow: $3,812/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.

Condition & rehab AI · 2 photos

Poor 20/100 Extensive rehab Est. rehab $49,000–$88,200 screening

This manufactured home requires extensive repairs and updates to its roof, exterior, interior, and systems. Significant improvements in these areas would greatly increase its resale and rental value.

Repairs flagged

• Major roof — The independent aerial image shows a large, dark area that appears to be a roof, which is in poor condition.
• Major exterior siding — The independent aerial image shows a manufactured home with visible wear and tear.
• Major landscaping — The independent aerial image shows a lack of landscaping, and the listing photos show snow and a lack of visible curb appeal.
• Major interior walls and paint — No interior walls or paint are visible in the photos, indicating a need for repairs or updates.
• Major bathrooms — No bathrooms are visible in the photos, indicating a need for repairs or updates.
• Major kitchen — No kitchen is visible in the photos, indicating a need for repairs or updates.
• Major HVAC/mechanicals — No HVAC or mechanicals are visible in the photos, indicating a need for repairs or updates.

Value-add opportunities

• Both roof replacement — Re-roofing would improve the home's appearance and increase its value for both resale and rental. ↑
• Both exterior siding repair — Repairing the siding would improve the home's appearance and increase its value for both resale and rental. ↑
• Both landscaping — Landscaping would improve the home's curb appeal and increase its value for both resale and rental. ↑
• Both interior painting — Painting the interior would improve the home's appearance and increase its value for both resale and rental. ↑
• Both bathroom updates — Updating the bathrooms would improve the home's functionality and increase its value for both resale and rental. ↑
• Both kitchen updates — Updating the kitchen would improve the home's functionality and increase its value for both resale and rental. ↑
• Both HVAC/mechanical updates — Updating the HVAC and mechanical systems would improve the home's functionality and increase its value for both resale and rental. ↑

ⓘ Rehab cost is a screening estimate — Extensive scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 50/100

Zoned Schools

Elementary Fairley School F NY #1,361/2,108 Nat'l #17,861/41,679 Middle Kenney Middle School F NY #539/729 Nat'l #8,861/14,009 High Hannibal High School A- NY #518/1,100 Nat'l #1,121/17,239

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

C Composite livability gradescore 61/100

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

• County: Oswego · 114,465 people
• Metro: Syracuse, NY
• Population (ZIP): 23,176
• Household income: $63,156
• Rent vs Own: 33.7% rent · 66.3% own
• Severe rent burden: 8% of renters

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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%

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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%

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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

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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

+1735.2% since first listed

4 events — show timeline

• 2026-04-16 Price Changed $59,900 CNYIS
• 2026-03-11 Price Changed $64,900 CNYIS
• 2026-02-27 Listed $69,900 CNYIS
• 2025-04-16 Sold (Public Records) $3,264 Public Records

Property tax history

+4.4%/yr

Latest (2025): $1,198 · +1.5% YoY. Source: county tax records.