35 Main St · McGraw, NY 13101

$74,900

6 bd · 2.0 ba · 2,208 sqft · Townhouse public records · 92 Days on market

Built 1860 6,200 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
• ARV discount +7.5/15.0
• Appreciation +7.4/10.0
• Schools +5.0/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

What a sweet deal this duplex is! Although it needs rehabbing, it has the potential to bring in some good income. Right now, the owner lives in one side, with a month-to-month tenant on the other side. There are 3 bedrooms on the left side with hardwood floors in some rooms. The right side has 2 bedrooms and an eat in kitchen. Plenty of parking on the side on North St. Although this is in a flood zone, the owner only pays $400 a year. It has never flooded there in over 20 years. When it did one time it only had a few inches in the basement. The updates completed within the last 1.5 years are: New septic (sewer) line installed from the road to the house, Zero Tech sprayed foam insulation

Key facts

• New breaker boxes
• Eat in kitchen
• Plenty of parking

Tags

• HARDWOOD FLOORS
• EAT IN KITCHEN
• PLENTY OF PARKING
• NEW SEPTIC LINE
• SPRAYED FOAM INSULATION
• NEW BREAKER BOXES

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath townhouse listed at $75k.

Deal economics

• At list price, monthly cash flow is $19 ($231/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $68k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#411 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools C-, health & safety D, amenities F.
• Mcgraw Central School District (rural): math 57% / reading 61% proficiency, ranked #252 of 590 in NY (top 43%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 13 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 $4k of equity ($518 loan paydown + $4k appreciation (4.9% 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 (4.9% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y ago; this cycle's ask has dropped $11k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $48k; list at $75k implies a 54% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.0% of price; flood insurance adds $460/mo; built in 1860 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $68,159 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1860 — 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.95% ✓
• Cap rate: 13.98%
• Cash-on-cash: 27.45%
• DSCR: 2.22
• GRM: 4.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.86% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.7%
• Equity multiple: 1.87×
• Total profit: $18,283
• Equity at exit: $41,797

10-year hold

• IRR: 14.8%
• Equity multiple: 3.64×
• Total profit: $55,280
• Equity at exit: $71,605

Cash invested: $20,972 (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 13101

• Home prices YoY: 1.6%
• Active inventory: 13
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,460 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$250 /mo · $2,997/yr
• Insurance: −$31
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $19

Break-even live

Break-even rent $1,436

Max offer price $74,900

Occupancy floor 94%

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-05
   statusdays on market $74,900 Pending 92 DOM
2. 2026-06-03
   days on market $74,900 Active Under Contract 91 DOM
3. 2026-06-02
   days on market $74,900 Active Under Contract 90 DOM
4. 2026-06-01
   days on market $74,900 Active Under Contract 89 DOM
5. 2026-05-31
   days on market $74,900 Active Under Contract 88 DOM
6. 2026-05-30
   days on market $74,900 Active Under Contract 87 DOM
7. 2026-04-03
   historical Active Under Contract
8. 2026-03-16
   price $74,900
9. 2026-03-04
   listed $85,900 Active
10. 2023-08-24
    historical $3,900
11. 2023-07-16
    listed $3,900
12. 2015-08-12
    historical
13. 2015-06-10
    listed $60,900
14. 2004-09-09
    soldstatus $48,500

ⓘ 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: $2,997 · $250/mo
• Projected year-2 tax: $2,997 · $250/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 8 d/yr ≥91°F today · 17 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: $17,521
• − Mortgage interest: −$4,196
• − Property taxes: −$2,997
• − Insurance: −$5,900
• − Repairs & maintenance: −$1,402
• − Management: −$1,402
• − Depreciation: −$2,179
• Taxable loss: −$554
• Est. tax savings @ 24.0%: +$133
• After-tax cash flow: $364/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: Mcgraw Central School District
• NCES district ID: 3618840
• Math proficiency: 57% ▲ 7.00%
• Reading proficiency: 61% ▲ 11.00%
• Median HH income: $51,404
• Composite: 50.37/100
• National rank: #1875
• State rank: #252 of 590 in NY

Livability — McGraw

• Score: 71/100
• State rank: #411
• US rank: #7091

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: McGraw, NY
• Population (ZIP): 2,221

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 (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 3% Iranian 3% Serbian 2%
• Foreign-born: 0% · Canada
• Languages at home: 98% English-only · Spanish 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: ▲ 4.86%
• Current HPI: 305.3272
• 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

+54.4% since first listed

8 events — show timeline

• 2026-04-03 Contingent — CNYIS
• 2026-03-16 Price Changed $74,900 CNYIS
• 2026-03-04 Listed $85,900 CNYIS
• 2023-08-24 Rental Removed $3,900 LEASESTAR
• 2023-07-16 Listed for Rent $3,900 LEASESTAR
• 2015-08-12 Listing Removed — CNYIS
• 2015-06-10 Listed $60,900 CNYIS
• 2004-09-09 Sold (Public Records) $48,500 Public Records

Property tax history

+3.9%/yr

Latest (2025): $2,997 · +3.4% YoY. Source: county tax records.