504 Cayuga St · Fulton, NY 13069

$55,000

2 bd · 1.0 ba · 976 sqft · SingleFamily public records · 6 Days on market

Built 1920 3,198 sqft 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 +8.4/10.0
• ARV discount +7.5/15.0
• Livability +3.1/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Great opportunity to own a two bedroom home in the city of Fulton, NY! As a previous rental this property has much potential and opportunity! Outside you will find a carport and patio area leading into the main entrance. Upon entrance a formal dining room with natural wood flooring throughout. Proceed into the kitchen where you will find access to the back yard and a walk in pantry. First-floor laundry is located off the dining room. Entering into the Living room space you pass a full bathroom. Living room offers a great space and connected den. Use as an office or another bedroom. .. the opportunities are endless! Upstairs you will find a bedroom partitioned off to two separate areas. Showings start 11/12 at 1pm.

Key facts

• Metal roof
• Close to route 57
• First floor laundry

Tags

• VINYL SIDING
• METAL ROOF
• LARGE YARD
• FIRST FLOOR LAUNDRY
• CLOSE TO ROUTE 481
• CLOSE TO ROUTE 57

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $534 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Cap rate 18.0% vs local median 6.7% 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, 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: 116 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 172 units permitted in Oswego County in 2024 (27 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($380 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 $15k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 8, 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.
• 2 sale attempts since 5y 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 $35k; list at $55k implies a 57% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $55,000

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 2.29% ✓
• Cap rate: 17.95%
• Cash-on-cash: 41.64%
• DSCR: 2.85
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $117,120
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
607 Academy St	0.21mi	3/2.0 (+1)	1,037 (+6%)	7mo	$40,000	$39	65
512 Erie St	0.19mi	3/1.5 (+1)	992 (+2%)	21mo	$110,000	$111	64
209 Phillips St	0.71mi	2/2.0	958 (-2%)	20mo	$105,000	$110	43
613 State St	0.41mi	3/1.5 (+1)	904 (-7%)	23mo	$128,000	$142	43
370 S 3rd St	0.56mi	3/1.0 (+1)	1,094 (+12%)	16mo	$131,000	$120	36
109 W 3rd St S	0.73mi	3/1.0 (+1)	1,031 (+6%)	19mo	$120,000	$116	36
512 S Sixth St	0.73mi	3/2.0 (+1)	1,103 (+13%)	4mo	$141,500	$128	32
406 Lyon St	0.70mi	3/1.0 (+1)	1,100 (+13%)	12mo	$167,000	$152	31

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: 52.3%
• Equity multiple: 4.41×
• Total profit: $52,456
• Equity at exit: $37,204

10-year hold

• IRR: 48.5%
• Equity multiple: 9.26×
• Total profit: $127,245
• Equity at exit: $69,861

Cash invested: $15,400 (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: 116
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,260 high
• Mortgage (P&I): −$288
• Tax from tax record: −$150 /mo · $1,800/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $534

Break-even live

Break-even rent $584

Max offer price $55,000

Occupancy floor 53%

Sensitivity live

Price	-10% $566	-5% $550	+0% $534	+5% $519	+10% $503
Rent	-10% $435	-5% $485	+0% $534	+5% $584	+10% $634
Rate	-1.0pp $562	-0.5pp $548	base $534	+0.5pp $520	+1.0pp $506

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
312 Utica St Fulton, NY	3.0	1.0	1060	$1,300	$1.23	14d	1	0.14mi
609 Buffalo St Unit 2 Fulton, NY	1.0	1.0	550	$1,145	$2.08	14d	1	0.18mi
212 S 3rd St Apt 2 Fulton, NY	2.0	1.0	634	$1,295	$2.04	14d	1	0.35mi
8 Heer Dr Unit 1 Fulton, NY	1.0	1.0	800	$1,295	$1.62	14d	1	0.65mi
409 N 6th St Fulton, NY	2.0	1.0	840	$1,150	$1.37	22d	1	0.66mi
314 W 5th St S Unit 1 Fulton, NY	1.0	1.0	800	$1,075	$1.34	14d	1	0.97mi
414 Broadwell Ave Fulton, NY	2.0	2.0	736	$1,495	$2.03	44d	1	1.09mi
20 Airport Rd Fulton, NY	2.0	1.0	1000	$1,435	$1.44	14d	2	1.41mi

Listing history 9 events

1. 2026-03-23
   status Pending
2. 2026-03-17
   listed $55,000 Active
3. 2022-03-14
   soldstatus $35,000 Closed Sale or Rented 723-char remark

   Show marketing remark (723 chars)

   Great opportunity to own a two bedroom home in the city of Fulton, NY! As a previous rental this property has much potential and opportunity! Outside you will find a carport and patio area leading into the main entrance. Upon entrance a formal dining room with natural wood flooring throughout. Proceed into the kitchen where you will find access to the back yard and a walk in pantry. First-floor laundry is located off the dining room. Entering into the Living room space you pass a full bathroom. Living room offers a great space and connected den. Use as an office or another bedroom. .. the opportunities are endless! Upstairs you will find a bedroom partitioned off to two separate areas. Showings start 11/12 at 1pm.

4. 2022-01-19
   status Pending Sale 723-char remark

   Show marketing remark (723 chars)

   Great opportunity to own a two bedroom home in the city of Fulton, NY! As a previous rental this property has much potential and opportunity! Outside you will find a carport and patio area leading into the main entrance. Upon entrance a formal dining room with natural wood flooring throughout. Proceed into the kitchen where you will find access to the back yard and a walk in pantry. First-floor laundry is located off the dining room. Entering into the Living room space you pass a full bathroom. Living room offers a great space and connected den. Use as an office or another bedroom. .. the opportunities are endless! Upstairs you will find a bedroom partitioned off to two separate areas. Showings start 11/12 at 1pm.

5. 2022-01-17
   historical Continue to Show- Under Contract 723-char remark

   Show marketing remark (723 chars)

   Great opportunity to own a two bedroom home in the city of Fulton, NY! As a previous rental this property has much potential and opportunity! Outside you will find a carport and patio area leading into the main entrance. Upon entrance a formal dining room with natural wood flooring throughout. Proceed into the kitchen where you will find access to the back yard and a walk in pantry. First-floor laundry is located off the dining room. Entering into the Living room space you pass a full bathroom. Living room offers a great space and connected den. Use as an office or another bedroom. .. the opportunities are endless! Upstairs you will find a bedroom partitioned off to two separate areas. Showings start 11/12 at 1pm.

6. 2022-01-03
   price $32,000 723-char remark

   Show marketing remark (723 chars)

   Great opportunity to own a two bedroom home in the city of Fulton, NY! As a previous rental this property has much potential and opportunity! Outside you will find a carport and patio area leading into the main entrance. Upon entrance a formal dining room with natural wood flooring throughout. Proceed into the kitchen where you will find access to the back yard and a walk in pantry. First-floor laundry is located off the dining room. Entering into the Living room space you pass a full bathroom. Living room offers a great space and connected den. Use as an office or another bedroom. .. the opportunities are endless! Upstairs you will find a bedroom partitioned off to two separate areas. Showings start 11/12 at 1pm.

7. 2021-12-09
   price $39,000 723-char remark

   Show marketing remark (723 chars)

   Great opportunity to own a two bedroom home in the city of Fulton, NY! As a previous rental this property has much potential and opportunity! Outside you will find a carport and patio area leading into the main entrance. Upon entrance a formal dining room with natural wood flooring throughout. Proceed into the kitchen where you will find access to the back yard and a walk in pantry. First-floor laundry is located off the dining room. Entering into the Living room space you pass a full bathroom. Living room offers a great space and connected den. Use as an office or another bedroom. .. the opportunities are endless! Upstairs you will find a bedroom partitioned off to two separate areas. Showings start 11/12 at 1pm.

8. 2021-11-20
   price $40,000 723-char remark

   Show marketing remark (723 chars)

   Great opportunity to own a two bedroom home in the city of Fulton, NY! As a previous rental this property has much potential and opportunity! Outside you will find a carport and patio area leading into the main entrance. Upon entrance a formal dining room with natural wood flooring throughout. Proceed into the kitchen where you will find access to the back yard and a walk in pantry. First-floor laundry is located off the dining room. Entering into the Living room space you pass a full bathroom. Living room offers a great space and connected den. Use as an office or another bedroom. .. the opportunities are endless! Upstairs you will find a bedroom partitioned off to two separate areas. Showings start 11/12 at 1pm.

9. 2021-11-10
   listed $42,900 Active 723-char remark

   Show marketing remark (723 chars)

   Great opportunity to own a two bedroom home in the city of Fulton, NY! As a previous rental this property has much potential and opportunity! Outside you will find a carport and patio area leading into the main entrance. Upon entrance a formal dining room with natural wood flooring throughout. Proceed into the kitchen where you will find access to the back yard and a walk in pantry. First-floor laundry is located off the dining room. Entering into the Living room space you pass a full bathroom. Living room offers a great space and connected den. Use as an office or another bedroom. .. the opportunities are endless! Upstairs you will find a bedroom partitioned off to two separate areas. Showings start 11/12 at 1pm.

ⓘ 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: $1,800 · $150/mo
• Projected year-2 tax: $1,800 · $150/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 2/10 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: $15,126
• − Mortgage interest: −$3,081
• − Property taxes: −$1,800
• − Insurance: −$275
• − Repairs & maintenance: −$1,210
• − Management: −$1,210
• − Depreciation: −$1,600
• Taxable income: $5,949
• Est. tax owed @ 24.0%: −$1,428
• After-tax cash flow: $4,985/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: 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

+28.2% since first listed

9 events — show timeline

• 2026-03-23 Pending — CNYIS
• 2026-03-17 Listed $55,000 CNYIS
• 2022-03-14 Sold (MLS) $35,000 CNYIS
• 2022-01-19 Pending — CNYIS
• 2022-01-17 Contingent — CNYIS
• 2022-01-03 Price Changed $32,000 CNYIS
• 2021-12-09 Price Changed $39,000 CNYIS
• 2021-11-20 Price Changed $40,000 CNYIS
• 2021-11-10 Listed $42,900 CNYIS

Property tax history

-2.1%/yr

Latest (2025): $1,800 · +2.2% YoY. Source: county tax records.