3260 Tuscarora Rd · Morrisville, NY 13061

$299,900

3 bd · 2.5 ba · 2,704 sqft · SingleFamily · 106 Days on market

Built 2020 1.15 ac lot $111/sqft · 14% below area Est $350k · 14% under ↓ 14% since listing

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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).

• ARV discount +14.0/15.0
• Appreciation +7.8/10.0
• Schools +5.5/10.0
• Livability +3.7/5.0
• Cash flow +2.9/30.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Brand New & Never Lived In! Welcome to 3260 Tuscarora Rd, Erieville — a stunning 3-bedroom, 2.5-bath raised ranch offering 2,704 sq. ft. of beautifully finished living space (sq. ft. per seller), set on 1.15 acres of peaceful countryside. This newly constructed home has never been occupied and is ready for its very first owner. The sun-drenched main level features an open-concept layout filled with natural light, gleaming hardwood floors in the living room and hallway, a tiled kitchen, and comfortably carpeted bedrooms. The spacious primary suite includes a private bathroom, along with two additional bedrooms and a full guest bathroom. The fully finished lower level provides an additional 1,352 sq. ft. of flexible living space — ideal for a family room, home office, gym, or guest retreat — complete with a half bath and dedicated laundry area. Built for comfort and efficiency, the home features in-floor radiant heat throughout and electric service through Oneida-Madison Electric Cooperative. Set in a peaceful country setting near Tuscarora Lake and year-round outdoor recreation, yet conveniently located just 25 minutes to the NYS Thruway and just minutes to the Village of Cazenovia. Enjoy bright, modern, move-in-ready living with rural charm on over an acre of land. Experience the perfect balance of privacy, efficiency, and convenience in this never-lived-in country retreat. Some photos may include virtual AI staging.

Key facts

• Tiled kitchen
• Raised ranch
• Open-concept layout

Tags

• RAISED RANCH
• OPEN-CONCEPT LAYOUT
• GLEAMING HARDWOOD FLOORS
• TILED KITCHEN
• FULLY FINISHED LOWER LEVEL
• IN-FLOOR RADIANT HEAT

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $-984 ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $157k (47.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $138k (54.1% below list).
• Recommended offer: $138k (54.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 74/100 on livability (#291 in NY, #4,741 nationally) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, housing A; Watch: schools C-, amenities F, commute F.
• Cazenovia Central School District (town): math 59% / reading 66% proficiency, ranked #187 of 590 in NY (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 9 active listings in the ZIP; 137 units permitted in Madison County in 2024 (46 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($2k loan paydown + $17k appreciation (5.7% local appreciation)).
• Madison County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, 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 106 days — a 9% lower offer ($273k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $137,732 (54.1% 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. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 54% concession, seller financing, or rate buy-down credit?
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. 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?
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: 0.46% ✗
• Cap rate: 2.35%
• Cash-on-cash: -14.07%
• DSCR: 0.37
• GRM: 18.1

CMA / ARV

• ARV (median comp): $350,298
• List price: $299,900
• Delta: -14.39%
• Verdict: UNDERPRICED
• Comps: 7 within 2.0 mi

Projected returns pro-forma

5.68% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.2%
• Equity multiple: 1.22×
• Total profit: $18,210
• Equity at exit: $182,468

10-year hold

• IRR: 6.1%
• Equity multiple: 2.24×
• Total profit: $104,316
• Equity at exit: $325,787

Cash invested: $83,972 (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 13061

• Home prices YoY: 1.8%
• Active inventory: 9
• Price-to-rent: 18.1×

Monthly cashflow live

• Estimated rent: $1,377 medium
• Mortgage (P&I): −$1,573
• Tax est. 1.5%: −$375 /mo · $4,498/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $-984

Break-even live

Break-even rent $2,623

Max offer price $157,447

Occupancy floor —

Sensitivity live

Price	-10% $-777	-5% $-881	+0% $-984	+5% $-1,088	+10% $-1,192
Rent	-10% $-1,093	-5% $-1,039	+0% $-984	+5% $-930	+10% $-876
Rate	-1.0pp $-833	-0.5pp $-908	base $-984	+0.5pp $-1,062	+1.0pp $-1,141

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-17
   status $299,900 Pending 106 DOM
2. 2026-06-16
   days on market $299,900 Active 106 DOM
3. 2026-06-15
   days on market $299,900 Active 105 DOM
4. 2026-06-13
   days on market $299,900 Active 103 DOM
5. 2026-06-12
   days on market $299,900 Active 102 DOM
6. 2026-06-09
   days on market $299,900 Active 99 DOM
7. 2026-06-08
   days on market $299,900 Active 98 DOM
8. 2026-06-07
   days on market $299,900 Active 97 DOM
9. 2026-06-05
   days on market $299,900 Active 95 DOM
10. 2026-06-04
    days on market $299,900 Active 93 DOM
11. 2026-06-02
    days on market $299,900 Active 92 DOM
12. 2026-06-01
    days on market $299,900 Active 91 DOM
13. 2026-05-31
    days on market $299,900 Active 90 DOM
14. 2026-03-02
    listed $299,900 Active 1464-char remark

    Show marketing remark (1464 chars)

    Brand New & Never Lived In! Welcome to 3260 Tuscarora Rd, Erieville — a stunning 3-bedroom, 2.5-bath raised ranch offering 2,704 sq. ft. of beautifully finished living space (sq. ft. per seller), set on 1.15 acres of peaceful countryside. This newly constructed home has never been occupied and is ready for its very first owner. The sun-drenched main level features an open-concept layout filled with natural light, gleaming hardwood floors in the living room and hallway, a tiled kitchen, and comfortably carpeted bedrooms. The spacious primary suite includes a private bathroom, along with two additional bedrooms and a full guest bathroom. The fully finished lower level provides an additional 1,352 sq. ft. of flexible living space — ideal for a family room, home office, gym, or guest retreat — complete with a half bath and dedicated laundry area. Built for comfort and efficiency, the home features in-floor radiant heat throughout and electric service through Oneida-Madison Electric Cooperative. Set in a peaceful country setting near Tuscarora Lake and year-round outdoor recreation, yet conveniently located just 25 minutes to the NYS Thruway and just minutes to the Village of Cazenovia. Enjoy bright, modern, move-in-ready living with rural charm on over an acre of land. Experience the perfect balance of privacy, efficiency, and convenience in this never-lived-in country retreat. Some photos may include virtual AI staging.

15. 2026-02-28
    historical
16. 2025-12-19
    price $299,000
17. 2025-10-14
    price $339,900
18. 2025-08-13
    listed $349,900 Active

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥90°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,528
• − Mortgage interest: −$16,799
• − Property taxes: −$4,498
• − Insurance: −$1,500
• − Repairs & maintenance: −$1,322
• − Management: −$1,322
• − Depreciation: −$8,724
• Taxable loss: −$17,638
• Est. tax savings @ 24.0%: +$4,233
• After-tax cash flow: $-7,580/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: Cazenovia Central School District
• NCES district ID: 3606780
• Math proficiency: 59% ▼ -13.00%
• Reading proficiency: 66% ▼ -5.00%
• Median HH income: $66,232
• Composite: 54.68/100
• National rank: #1327
• State rank: #187 of 590 in NY

Livability — Morrisville

• Score: 74/100
• State rank: #291
• US rank: #4741

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 641

Population outlook (Madison County) Hauer SSP2

• Today (2025): 69,528 people
• By 2030: 66,599 · -4.2%
• By 2040: 59,814 · -14.0%
• By 2050: 52,842 · -24.0%
• By 2075: 39,167 · -43.7%
• By 2100: 28,442 · -59.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Black 3% Hispanic / Latino 3%
• Common ancestry: Slovak 5% Romanian 4% Italian 3%
• Foreign-born: 5% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Madison

• 2024 margin: R (+13.1) · D 43.5% · R 56.5%
• 2008→2024 swing: -13.9pp toward R · 2008: 0.9pp · 2024: -13.1pp
• All cycles: 2024: R+13.1 2020: R+10.6 2016: R+15.9 2012: D+0.3 2008: D+0.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.68%
• Current HPI: 314.2485
• 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

-14.3% since first listed

5 events — show timeline

• 2026-03-02 Listed $299,900 CNYIS
• 2026-02-28 Listing Removed — CNYIS
• 2025-12-19 Price Changed $299,000 CNYIS
• 2025-10-14 Price Changed $339,900 CNYIS
• 2025-08-13 Listed $349,900 CNYIS