1931 Carter Slocum Rd · Marathon, NY 13803

$25,000

2 bd · 1.0 ba · 980 sqft · Manufactured public records · 322 Days on market

Built 1994 1.35 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

* * * * * All Investors! All Future Homeowners! * * * * * High Curb Appeal And Quiet Neighborhood Describes This Dwelling, Which Is Waiting For You To Give It A Makeover. Located Near Maple Hill Golf Resort And Other Business's. Closet Space With A Big Front And Backyard. Property Needs Rehab. Cash. As Is.

Key facts

• Quiet neighborhood
• 1.35 acre lot
• 10 parking spots

Tags

• QUIET NEIGHBORHOOD
• BIG FRONT AND BACKYARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $25k.

Deal economics

• At list price, monthly cash flow is $573 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $22k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#853 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A-, housing B+; Watch: schools C-, employment D, health & safety D.
• Marathon Central School District (rural): math 42% / reading 51% proficiency, ranked #437 of 590 in NY (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 15 active listings in the ZIP; 45 units permitted in Cortland County in 2024 (12 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($173 loan paydown + $2k appreciation (9.9% local appreciation)).
• Cortland County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.9% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 322 days — a 12% lower offer ($22k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $10k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.6% of price.

Recommended offer $22,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 322 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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.
6. 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.
7. 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: 4.10% ✓
• Cap rate: 33.79%
• Cash-on-cash: 98.22%
• DSCR: 5.37
• GRM: 2.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

9.91% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.14×
• Total profit: $50,005
• Equity at exit: $22,355

10-year hold

• IRR: —
• Equity multiple: 17.95×
• Total profit: $118,627
• Equity at exit: $48,032

Cash invested: $7,000 (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 13803

• Home prices YoY: 3.0%
• Active inventory: 15
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,026 medium
• Mortgage (P&I): −$131
• Tax from tax record: −$96 /mo · $1,150/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $573

Break-even live

Break-even rent $300

Max offer price $25,000

Occupancy floor 39%

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-03-11
   status Pending
2. 2025-10-28
   price $25,000
3. 2025-09-14
   status Active
4. 2025-03-05
   status Pending
5. 2024-12-13
   status Active
6. 2024-10-03
   status Pending
7. 2024-08-15
   price $29,900
8. 2024-08-01
   listed $34,900 Active
9. 2005-12-28
   soldstatus $30,210
10. 2005-10-20
    soldstatus $12,000
11. 1995-03-23
    soldstatus $6,500

ⓘ 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: $1,150 · $96/mo
• Projected year-2 tax: $1,150 · $96/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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 15 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: $12,308
• − Mortgage interest: −$1,400
• − Property taxes: −$1,150
• − Insurance: −$125
• − Repairs & maintenance: −$985
• − Management: −$985
• − Depreciation: −$727
• Taxable income: $6,936
• Est. tax owed @ 24.0%: −$1,665
• After-tax cash flow: $5,211/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: Marathon Central School District
• NCES district ID: 3618450
• Math proficiency: 42% ▲ 4.00%
• Reading proficiency: 51% ▲ 11.00%
• Median HH income: $51,011
• Composite: 39.95/100
• National rank: #3842
• State rank: #437 of 590 in NY

Livability — Marathon

• Score: 62/100
• State rank: #853
• US rank: #16483

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,936

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 (96%)
• Race & ethnicity: White 96% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Polish 3% Iranian 2% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · German/W. Germanic 3% Spanish 1% 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: ▲ 9.91%
• Current HPI: 342.2891
• 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

+284.6% since first listed

11 events — show timeline

• 2026-03-11 Pending — Global MLS
• 2025-10-28 Price Changed $25,000 Global MLS
• 2025-09-14 Relisted — Global MLS
• 2025-03-05 Pending — Global MLS
• 2024-12-13 Relisted — Global MLS
• 2024-10-03 Pending — Global MLS
• 2024-08-15 Price Changed $29,900 Global MLS
• 2024-08-01 Listed $34,900 Global MLS
• 2005-12-28 Sold (Public Records) $30,210 Public Records
• 2005-10-20 Sold (Public Records) $12,000 Public Records
• 1995-03-23 Sold (Public Records) $6,500 Public Records

Property tax history

-4.6%/yr

Latest (2025): $1,150 · +7.8% YoY. Source: county tax records.