1674 Cemetary Rd · Melrose Park, NY 13152

$239,000

3 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 16 Days on market

Built 1991 1.96 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 +21.1/30.0
• ARV discount +7.5/15.0
• Schools +6.9/10.0
• DSCR +6.7/10.0
• 1% rule +5.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Skaneateles schools 3 bedroom ranch situated on 2 acres. This is a great opportunity to enjoy country living in an award winning school district, surrounded by rolling fields, but within 15 minutes of the village of Skaneateles and minutes from the lovely Hamlet of Owasco. This sunny ranch offers a very functional one floor living plan featuring; large country kitchen and dining room combination, bright living room, three bedrooms - including a primary suite and full hall bath; and convenient first floor laundry. A full basement provides valuable dry storage space. The sprawling lot presents possibilities for a garage or other "out" buildings, as well.

Key facts

• First floor laundry
• Full basement
• Sprawling lot

Tags

• LARGE COUNTRY KITCHEN
• FIRST FLOOR LAUNDRY
• FULL BASEMENT
• SPRAWLING LOT

Property features AI

Exterior

• Parking: Driveway parking (no garage)
• Utilities: Electricity connected; High-speed internet available; Well water; Septic tank
• Home design: Single-story home; Existing/resale property
• Construction: Vinyl siding; Foam insulation; Block foundation; Asphalt shingle roof
• Exterior features: Gravel driveway; Agricultural, rectangular lot (198 x 425); Approximately 1.96 acres

Interior

• Kitchen: Electric cooktop; Electric oven; Electric range; Refrigerator
• Bedrooms: Three main-level bedrooms
• Flooring: Carpet; Laminate; Vinyl; Varied flooring types
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Propane heating; Forced air heating
• Interior features: Entrance foyer; Eat-in kitchen; Country-style kitchen; Combined living/dining room; Solid surface countertops; Main-level primary bedroom; Full basement
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $239k.

Deal economics

• At list price, monthly cash flow is $342 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $239k).
• Recommended offer: $235k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 1.6% in Melrose Park — 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 68/100 on livability (#512 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: schools D+, amenities F, commute F.
• Skaneateles Central School District (town): math 78% / reading 77% proficiency, ranked #65 of 590 in NY (top 11%) — strong family-tenant draw, lease renewals of 3-5y typical; only 7% free/reduced lunch — higher-income household profile.
• Market conditions: 69 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Onondaga County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($235k) is reasonable based on typical stale-listing flexibility.

Recommended offer $235,415 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
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: 1.05% ✓
• Cap rate: 8.01%
• Cash-on-cash: 6.13%
• DSCR: 1.27
• GRM: 8.0

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: -6.8%
• Equity multiple: 0.75×
• Total profit: $-16,940
• Equity at exit: $35,636

10-year hold

• IRR: 2.8%
• Equity multiple: 1.20×
• Total profit: $13,379
• Equity at exit: $20,664

Cash invested: $66,920 (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 13152

• Home prices YoY: -16.5%
• Active inventory: 69
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,500 medium
• Mortgage (P&I): −$1,253
• Tax from tax record: −$280 /mo · $3,365/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $342

Break-even live

Break-even rent $2,067

Max offer price $239,000

Occupancy floor 81%

Sensitivity live

Price	-10% $477	-5% $409	+0% $342	+5% $274	+10% $206
Rent	-10% $144	-5% $243	+0% $342	+5% $440	+10% $539
Rate	-1.0pp $462	-0.5pp $402	base $342	+0.5pp $280	+1.0pp $217

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5132 State Route 38A Auburn, NY	3.0	2.0	1233	$2,500	$2.03	44d	1	0.99mi

Listing history 11 events

1. 2026-06-19
   days on market $239,000 Active 16 DOM
2. 2026-06-18
   days on market $239,000 Active 15 DOM
3. 2026-06-17
   days on market $239,000 Active 14 DOM
4. 2026-06-16
   days on market $239,000 Active 13 DOM
5. 2026-06-15
   days on market $239,000 Active 12 DOM
6. 2026-06-14
   days on market $239,000 Active 10 DOM
7. 2026-06-12
   days on market $239,000 Active 9 DOM
8. 2026-06-09
   days on market $239,000 Active 6 DOM
9. 2026-06-08
   days on market $239,000 Active 5 DOM
10. 2026-06-07
    remarks 660-char remark
11. 2026-06-07
    listed $239,000 Active 4 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: $3,365 · $280/mo
• Projected year-2 tax: $3,702 · $308/mo
• Expected delta: +$337/yr (+$28/mo · 10.0%)

ⓘ 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 ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 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: $30,000
• − Mortgage interest: −$13,388
• − Property taxes: −$3,365
• − Insurance: −$1,195
• − Repairs & maintenance: −$2,400
• − Management: −$2,400
• − Depreciation: −$6,953
• Taxable income: $300
• Est. tax owed @ 24.0%: −$72
• After-tax cash flow: $4,028/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: Skaneateles Central School District
• NCES district ID: 3626940
• Math proficiency: 78% ▼ -1.00%
• Reading proficiency: 77% ▲ 5.00%
• Median HH income: $81,561
• Composite: 68.61/100
• National rank: #340
• State rank: #65 of 590 in NY

Livability — Melrose Park

• Score: 68/100
• State rank: #512
• US rank: #9116

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,548

Population outlook (Onondaga County) Hauer SSP2

• Today (2025): 467,894 people
• By 2030: 463,381 · -1.0%
• By 2040: 447,697 · -4.3%
• By 2050: 426,399 · -8.9%
• By 2075: 373,661 · -20.1%
• By 2100: 307,967 · -34.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 3%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · Spanish 2% Russian/Polish/Slavic 1% German/W. Germanic 0%

Political lean MEDSL · Onondaga

• 2024 margin: D (+17.3) · D 58.6% · R 41.4%
• 2008→2024 swing: -3.0pp toward R · 2008: 20.3pp · 2024: 17.3pp
• All cycles: 2024: D+17.3 2020: D+20.6 2016: D+12.8 2012: D+21.1 2008: D+20.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -83.82%
• Current HPI: 424.2545
• 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

• 2026-06-03 Listed $239,000 CNYIS

Property tax history

+1.7%/yr

Latest (2025): $3,365 · -16.2% YoY. Source: county tax records.