52 W Main St · Cortland, NY 13045

$189,000

3 bd · 1.0 ba · 1,320 sqft · SingleFamily public records · 11 Days on market

Built 1906 7,831 sqft lot Est $187k · at est.

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Why this score? — see what drove the D 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 +12.7/30.0
• ARV discount +7.1/15.0
• 1% rule +5.4/10.0
• Rent growth +4.6/5.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• DSCR +3.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Two-Story home on the West end of Cortland. Home features hardwood floors throughout, brand new Dishwasher, brand new FHA furnace, new HWH, vinyl sided, covered back deck, fenced in yard, open front porch, one car detached garage and more. .. .

Key facts

• Close amenities
• Raised garden beds
• Hardwood floors

Tags

• HARDWOOD FLOORS
• NEWLY REMODELED BATHROOM
• FULLY FENCED PRIVATE YARD
• RAISED GARDEN BEDS
• DETACHED GARAGE
• CLOSE AMENITIES

Property features AI

Exterior

• Parking: Detached garage with garage door opener (1-car)
• Security: Radon mitigation system
• Utilities: High-speed internet available; Public water connected; Sewer connected
• Home design: 2-story house; Resale property
• Construction: Vinyl siding; Asphalt roof; Stone foundation; Built (existing)
• Exterior features: Blacktop driveway; Covered porch; Deck; Fully fenced yard; Play structure

Interior

• Kitchen: Electric oven; Electric range; Dishwasher; Refrigerator
• Bedrooms: Total of 6 rooms (includes laundry room)
• Flooring: Hardwood; Varies
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric and gas heating; Baseboard and forced air heating
• Interior features: Living/dining room
• Laundry & utility: Washer and dryer located in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $189k.

Deal economics

• At list price, monthly cash flow is $-22 ($-267/yr) — negative.
• To cash-flow at today's rent, offer at most $185k (2.1% below list).
• Meets the 1% rule at list price ($2k rent vs $189k).
• Recommended offer: $185k (2.1% below list) — sets the bar for cash-flow.

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: Fe Smith Intermediate School (math 42% / reading 47%, grade F, #1,277 of 2,108 statewide, top 64%, 271 students, 65% 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 68% at this address vs 52% district-wide (+17 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); 143 active listings in the ZIP; 5 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).
• This rent runs 34% of the median local income ($70k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 16y ago 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.
• Current owner paid $139k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1906 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $185,066 (2.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1906 — 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. 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.04% ✓
• Cap rate: 6.15%
• Cash-on-cash: -0.50%
• DSCR: 0.98
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $187,440
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
71 W Main St	0.12mi	3/1.0	1,327 (+0%)	2mo	$172,500	$130	92
41 Evergreen St	0.12mi	3/1.5	1,296 (-2%)	10mo	$150,000	$116	81
44 Alvena Ave	0.08mi	3/1.5	1,252 (-5%)	10mo	$180,000	$144	77
5 Evergreen St	0.26mi	3/1.5	1,280 (-3%)	8mo	$67,200	$53	74
4269 West Rd	0.34mi	4/2.0 (+1)	1,312 (-1%)	1mo	$275,500	$210	73
31 Arthur Ave	0.41mi	3/1.5	1,351 (+2%)	4mo	$118,000	$87	72
91 Wheeler Ave	0.27mi	3/1.0	1,252 (-5%)	8mo	$178,000	$142	72
8 Fifth Ave	0.07mi	3/2.0	1,438 (+9%)	9mo	$170,000	$118	70
158 Madison St	0.40mi	3/2.0	1,260 (-4%)	2mo	$212,000	$168	68
6 Douglas St	0.33mi	3/1.0	1,176 (-11%)	1mo	$186,000	$158	65
37 Parker Ave	0.28mi	2/1.5 (-1)	1,197 (-9%)	1mo	$184,000	$154	64
31 Hamlin St	0.34mi	2/1.5 (-1)	1,434 (+9%)	11mo	$200,000	$139	54

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: -10.6%
• Equity multiple: 0.59×
• Total profit: $-21,498
• Equity at exit: $28,181

10-year hold

• IRR: 5.5%
• Equity multiple: 1.52×
• Total profit: $27,360
• Equity at exit: $16,341

Cash invested: $52,920 (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 13045

• Home prices YoY: -9.3%
• Rents YoY: 8.4%
• Active inventory: 143
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,959 high
• Mortgage (P&I): −$991
• Tax from tax record: −$500 /mo · $6,003/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $-22

Break-even live

Break-even rent $1,987

Max offer price $185,066

Occupancy floor 96%

Sensitivity live

Price	-10% $85	-5% $31	+0% $-22	+5% $-76	+10% $-129
Rent	-10% $-177	-5% $-100	+0% $-22	+5% $55	+10% $133
Rate	-1.0pp $73	-0.5pp $26	base $-22	+0.5pp $-71	+1.0pp $-121

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
31 James St Cortland, NY	3.0	1.5	1319	$3,600	$2.73	46d	1	0.86mi
109 Main St Unit 2 and 4 Cortland, NY	3.0	1.0	1200	$1,775	$1.48	46d	1	0.90mi
88 Clinton Ave Cortland, NY	3.0	1.0	1100	$1,600	$1.45	46d	1	0.94mi
30 Randall St Cortland, NY	2.0	1.0	943	$1,500	$1.59	46d	1	1.18mi
211 Tompkins St Unit 6 Cortland, NY	3.0	1.0	1000	$1,350	$1.35	46d	1	1.41mi

Listing history 28 events

1. 2026-04-21
   status Pending
2. 2026-04-15
   historical Active Under Contract
3. 2026-04-14
   status Pending
4. 2026-04-09
   listed $189,000 Active
5. 2022-01-14
   soldstatus $138,900 Closed Sale or Rented 244-char remark

   Show marketing remark (244 chars)

   Two-Story home on the West end of Cortland. Home features hardwood floors throughout, brand new Dishwasher, brand new FHA furnace, new HWH, vinyl sided, covered back deck, fenced in yard, open front porch, one car detached garage and more. .. .

6. 2022-01-13
   soldstatus $139,000
7. 2021-12-27
   status Pending Sale 244-char remark

   Show marketing remark (244 chars)

   Two-Story home on the West end of Cortland. Home features hardwood floors throughout, brand new Dishwasher, brand new FHA furnace, new HWH, vinyl sided, covered back deck, fenced in yard, open front porch, one car detached garage and more. .. .

8. 2021-11-17
   historical Continue to Show- Under Contract 244-char remark

   Show marketing remark (244 chars)

   Two-Story home on the West end of Cortland. Home features hardwood floors throughout, brand new Dishwasher, brand new FHA furnace, new HWH, vinyl sided, covered back deck, fenced in yard, open front porch, one car detached garage and more. .. .

9. 2021-11-15
   listed $134,900 Active 244-char remark

   Show marketing remark (244 chars)

   Two-Story home on the West end of Cortland. Home features hardwood floors throughout, brand new Dishwasher, brand new FHA furnace, new HWH, vinyl sided, covered back deck, fenced in yard, open front porch, one car detached garage and more. .. .

10. 2020-05-15
    soldstatus $114,500
11. 2020-05-14
    soldstatus $114,500 257-char remark

    Show marketing remark (257 chars)

    Well maintained 2 story home. Great front porch leads to large living room, formal dining room opens to cooks kitchen. Deck off of kitchen with deep level fenced yard, playset and raised gardens. Detached 1 car garage with paved drive and plenty of parking.

12. 2020-05-14
    soldstatus $108,000

    Show marketing remark (257 chars)

    Well maintained 2 story home. Great front porch leads to large living room, formal dining room opens to cooks kitchen. Deck off of kitchen with deep level fenced yard, playset and raised gardens. Detached 1 car garage with paved drive and plenty of parking.

13. 2020-05-14
    soldstatus $108,000

    Show marketing remark (257 chars)

    Well maintained 2 story home. Great front porch leads to large living room, formal dining room opens to cooks kitchen. Deck off of kitchen with deep level fenced yard, playset and raised gardens. Detached 1 car garage with paved drive and plenty of parking.

14. 2020-02-07
    listed $116,000 257-char remark

    Show marketing remark (257 chars)

    Well maintained 2 story home. Great front porch leads to large living room, formal dining room opens to cooks kitchen. Deck off of kitchen with deep level fenced yard, playset and raised gardens. Detached 1 car garage with paved drive and plenty of parking.

15. 2020-02-07
    listed $116,000

    Show marketing remark (257 chars)

    Well maintained 2 story home. Great front porch leads to large living room, formal dining room opens to cooks kitchen. Deck off of kitchen with deep level fenced yard, playset and raised gardens. Detached 1 car garage with paved drive and plenty of parking.

16. 2020-02-07
    listed $116,000

    Show marketing remark (257 chars)

    Well maintained 2 story home. Great front porch leads to large living room, formal dining room opens to cooks kitchen. Deck off of kitchen with deep level fenced yard, playset and raised gardens. Detached 1 car garage with paved drive and plenty of parking.

17. 2019-04-18
    historical
18. 2018-12-06
    listed $125,000
19. 2018-12-06
    listed $125,000
20. 2013-04-12
    soldstatus $109,000
21. 2013-01-24
    listed $109,900
22. 2013-01-21
    historical
23. 2012-06-27
    listed $114,900
24. 2010-06-04
    soldstatus $108,000
25. 2010-06-03
    soldstatus $108,000
26. 2010-01-13
    listed $113,900
27. 2006-12-19
    soldstatus $91,500
28. 2004-09-15
    soldstatus $82,300

ⓘ 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: $6,003 · $500/mo
• Projected year-2 tax: $6,003 · $500/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 3/10 Moderate 7 d/yr ≥92°F today · 16 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: $23,511
• − Mortgage interest: −$10,587
• − Property taxes: −$6,003
• − Insurance: −$945
• − Repairs & maintenance: −$1,881
• − Management: −$1,881
• − Depreciation: −$5,498
• Taxable loss: −$3,283
• Est. tax savings @ 24.0%: +$788
• After-tax cash flow: $521/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

+129.6% since first listed

28 events — show timeline

• 2026-04-21 Pending — CNYIS
• 2026-04-15 Contingent — CNYIS
• 2026-04-14 Pending — CNYIS
• 2026-04-09 Listed $189,000 CNYIS
• 2022-01-14 Sold (MLS) $138,900 CNYIS
• 2022-01-13 Sold (Public Records) $139,000 Public Records
• 2021-12-27 Pending — CNYIS
• 2021-11-17 Contingent — CNYIS
• 2021-11-15 Listed $134,900 CNYIS
• 2020-05-15 Sold (Public Records) $114,500 Public Records
• 2020-05-14 Sold (MLS) $108,000 IBRMLS
• 2020-05-14 Sold (MLS) $108,000 IBRMLS
• 2020-05-14 Sold (MLS) $114,500 UNYREIS
• 2020-02-07 Listed $116,000 IBRMLS
• 2020-02-07 Listed $116,000 IBRMLS
• 2020-02-07 Listed $116,000 UNYREIS
• 2019-04-18 Listing Removed — UNYREIS
• 2018-12-06 Listed $125,000 IBRMLS
• 2018-12-06 Listed $125,000 UNYREIS
• 2013-04-12 Sold (MLS) $109,000 CNYIS
• 2013-01-24 Listed $109,900 CNYIS
• 2013-01-21 Listing Removed — CNYIS
• 2012-06-27 Listed $114,900 CNYIS
• 2010-06-04 Sold (Public Records) $108,000 Public Records
• 2010-06-03 Sold (MLS) $108,000 CNYIS
• 2010-01-13 Listed $113,900 CNYIS
• 2006-12-19 Sold (Public Records) $91,500 Public Records
• 2004-09-15 Sold (Public Records) $82,300 Public Records

Property tax history

+3.1%/yr

Latest (2025): $6,003 · +4.1% YoY. Source: county tax records.