508-510 Leitch St #508 · Fulton, NY 13069

$174,900

6 bd · 3.0 ba · 2,824 sqft · Townhouse · 6 Days on market

Built 1904 Fair condition 6,072 sqft 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 +17.8/30.0
• Appreciation +8.4/10.0
• ARV discount +7.5/15.0
• DSCR +5.6/10.0
• 1% rule +4.8/10.0
• Livability +3.1/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks

SELLER IS REQUESTING BEST AND FINAL OFFERS FROM ALL PARTIES BY MONDAY 6/15/26 at 9AM. Incredible opportunity for owner occupant or investor. Duplex home on a dead end street with separate parking on each side of home for each apartment. Left side apartment was owner occupied, with its first level featuring eat-in kitchen with breakfast bar, formal dining room, living room and first floor half bathroom. Second level features 3 bedrooms and full bathroom. Right side apartment has a lot of potential but needs TLC. Right side apartment features kitchen, formal dining room, living room and full bathroom on its first level. Second level of right side apartment has 3 bedrooms. Home is situated on

Key facts

• Duplex home
• Formal dining room
• Living room

Tags

• DUPLEX HOME
• SEPARATE PARKING
• EAT-IN KITCHEN
• BREAKFAST BAR
• FORMAL DINING ROOM
• LIVING ROOM

Property features AI

Finance

• Other: Operating expense details: see remarks
• Financial info: Tenant pays all utilities; Multi-unit property with 2 units; Separate gas and electric meters for each unit

Exterior

• Parking: Paved parking; Two or more parking spaces
• Utilities: High-speed internet available; Public water (connected); Sewer connected; Circuit breaker electric
• Home design: 2-story property; Existing construction
• Construction: Aluminum siding; Resale property
• Exterior features: Enclosed porch; Porch; Rectangular residential lot; City street frontage; Lot dimensions approximately 66 x 92

Interior

• Flooring: Carpet; Hardwood; Vinyl; Varied flooring
• Bathrooms: 2 full bathrooms; 2 half bathrooms
• Heating & cooling: Gas heating; Baseboard heating; Hot water heating
• Interior features: Ceiling fans
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath townhouse listed at $175k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $144 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $171k (2.1% below list).
• Recommended offer: $171k (2.1% below list) — sets the bar for 1% rule.

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, schools D-, crime F.
• Fulton City School District (town): math 29% / reading 43% proficiency, ranked #554 of 590 in NY (top 94%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 115 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 $13k of equity ($1k loan paydown + $12k 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 $49k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $171,249 (2.1% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1904 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.98% ✗
• Cap rate: 7.28%
• Cash-on-cash: 3.53%
• DSCR: 1.16
• GRM: 8.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.75% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.0%
• Equity multiple: 2.38×
• Total profit: $67,563
• Equity at exit: $118,308

10-year hold

• IRR: 19.0%
• Equity multiple: 4.88×
• Total profit: $189,882
• Equity at exit: $222,159

Cash invested: $48,972 (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 13069

• Home prices YoY: 2.3%
• Active inventory: 115
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,712 medium
• Mortgage (P&I): −$917
• Tax est. 1.5%: −$219 /mo · $2,624/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $144

Break-even live

Break-even rent $1,530

Max offer price $174,900

Occupancy floor 87%

Sensitivity live

Price	-10% $265	-5% $205	+0% $144	+5% $84	+10% $23
Rent	-10% $9	-5% $77	+0% $144	+5% $212	+10% $279
Rate	-1.0pp $232	-0.5pp $189	base $144	+0.5pp $99	+1.0pp $53

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-15
   status $174,900 Pending 6 DOM
2. 2026-06-15
   days on market $174,900 Active 6 DOM
3. 2026-06-14
   days on market $174,900 Active 4 DOM
4. 2026-06-13
   days on market $174,900 Active 3 DOM
5. 2026-06-10
   remarks 699-char remark
6. 2026-06-10
   listed $174,900 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥95°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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,550
• − Mortgage interest: −$9,797
• − Property taxes: −$2,624
• − Insurance: −$874
• − Repairs & maintenance: −$1,644
• − Management: −$1,644
• − Depreciation: −$5,088
• Taxable loss: −$1,121
• Est. tax savings @ 24.0%: +$269
• After-tax cash flow: $1,999/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 · 11 photos

Fair 45/100 Moderate rehab

This townhouse requires moderate renovations to update the kitchen and bathrooms, and replace dated flooring. The property has a good roof and foundation, but the exterior siding and interior walls need touch-ups. The large lot and dead-end street provide a quiet and private setting.

Repairs flagged

• Moderate kitchen cabinets — dated and worn
• Moderate bathroom fixtures — small and outdated
• Minor exterior siding — some discoloration

Value-add opportunities

• Both update kitchen cabinets and appliances — modernizing kitchen would appeal to both buyers and renters
• Both replace carpeted flooring with hardwood or tile — hardwood or tile flooring would increase both resale and rental value
• Both update bathrooms with modern fixtures — modern bathrooms would attract both buyers and renters

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and worn	Moderate	$3,000–15,000
bathroom fixtures · small and outdated	Moderate	$3,000–15,000
exterior siding · some discoloration	Minor	$500–3,000
Total estimated repair cost · 3 items		$6,500–33,000

Value-add ROI direction

• Both update kitchen cabinets and appliances — modernizing kitchen would appeal to both buyers and renters ↑
• Both replace carpeted flooring with hardwood or tile — hardwood or tile flooring would increase both resale and rental value ↑
• Both update bathrooms with modern fixtures — modern bathrooms would attract both buyers and renters ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Fulton City School District
• NCES district ID: 3611700
• Math proficiency: 29% ▼ -11.00%
• Reading proficiency: 43% ▲ 5.00%
• Median HH income: $43,337
• Composite: 30.49/100
• National rank: #6220
• State rank: #554 of 590 in NY

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

• Census place: Fulton, NY
• Population (ZIP): 23,176

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%

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%

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

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

• 2026-06-09 Listed $174,900 CNYIS