2771 Center Rd · McGraw, NY 13101

$139,000

3 bd · 2.0 ba · 1,248 sqft · Manufactured public records · 207 Days on market

Built 1995 2.08 ac lot $111/sqft · 45% below area Est $251k · 45% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.2/30.0
• Appreciation +7.4/10.0
• DSCR +4.3/10.0
• Schools +4.0/10.0
• Livability +3.6/5.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Set on 2.08 secluded acres, this 3-bedroom, 2-full-bath double-wide home offers plenty of space and privacy in a quiet, tucked-away location. The property features handicap-accessible elements, a newly painted exterior, and a freshly updated entryway floor, giving it a start for new owners. While the home does need work, it provides an opportunity to customize and add value to a property with potential. With its peaceful surroundings and generous outdoor space, this home is ideal for those seeking a peaceful setting.

Key facts

• 2.08 acre lot
• Built 1995
• Listed 206 days

Tags

• HANDICAP-ACCESSIBLE ELEMENTS
• NEWLY PAINTED EXTERIOR
• FRESHLY UPDATED ENTRYWAY FLOOR
• GENEROUS OUTDOOR SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $139k.

Deal economics

• At list price, monthly cash flow is $24 ($284/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 $117k (15.5% below list).
• Recommended offer: $117k (15.5% below list) — sets the bar for 1% rule.

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.
• 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: 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 $8k of equity ($961 loan paydown + $7k 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 $39k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 207 days — a 12% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 3 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.
• Current owner paid $12k; list at $139k implies a 1058% gain — meaningful room to come down on a strong offer.

Recommended offer $117,431 (15.5% below list)

Questions for the listing agent

1. It's been on market 207 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 0.84% ✗
• Cap rate: 6.50%
• Cash-on-cash: 0.73%
• DSCR: 1.03
• GRM: 9.9

CMA / ARV

• ARV (median comp): $250,897
• List price: $139,000
• Delta: -44.60%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 13.1%
• Equity multiple: 1.83×
• Total profit: $32,395
• Equity at exit: $77,566

10-year hold

• IRR: 14.1%
• Equity multiple: 3.50×
• Total profit: $97,166
• Equity at exit: $132,885

Cash invested: $38,920 (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: 9.9×

Monthly cashflow live

• Estimated rent: $1,174 medium
• Mortgage (P&I): −$729
• Tax from tax record: −$117 /mo · $1,407/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $24

Break-even live

Break-even rent $1,144

Max offer price $139,000

Occupancy floor 93%

Sensitivity live

Price	-10% $102	-5% $63	+0% $24	+5% $-16	+10% $-55
Rent	-10% $-69	-5% $-23	+0% $24	+5% $70	+10% $116
Rate	-1.0pp $94	-0.5pp $59	base $24	+0.5pp $-12	+1.0pp $-49

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $139,000 Active 207 DOM
2. 2026-06-18
   days on market $139,000 Active 206 DOM
3. 2026-06-17
   days on market $139,000 Active 205 DOM
4. 2026-06-16
   days on market $139,000 Active 204 DOM
5. 2026-06-15
   days on market $139,000 Active 203 DOM
6. 2026-06-14
   days on market $139,000 Active 201 DOM
7. 2026-06-12
   days on market $139,000 Active 200 DOM
8. 2026-06-09
   days on market $139,000 Active 197 DOM
9. 2026-06-08
   days on market $139,000 Active 196 DOM
10. 2026-06-07
    days on market $139,000 Active 195 DOM
11. 2026-06-05
    days on market $139,000 Active 192 DOM
12. 2026-06-02
    days on market $139,000 Active 190 DOM
13. 2026-06-01
    days on market $139,000 Active 189 DOM
14. 2026-05-31
    days on market $139,000 Active 188 DOM
15. 2026-05-30
    days on market $139,000 Active 187 DOM
16. 2025-11-24
    listed $139,000 Active 522-char remark

    Show marketing remark (522 chars)

    Set on 2.08 secluded acres, this 3-bedroom, 2-full-bath double-wide home offers plenty of space and privacy in a quiet, tucked-away location. The property features handicap-accessible elements, a newly painted exterior, and a freshly updated entryway floor, giving it a start for new owners. While the home does need work, it provides an opportunity to customize and add value to a property with potential. With its peaceful surroundings and generous outdoor space, this home is ideal for those seeking a peaceful setting.

17. 2025-09-10
    status Active
18. 2025-09-04
    price $125,000
19. 2025-02-28
    listed $139,900 Active
20. 2007-11-13
    soldstatus $12,000

ⓘ 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: $1,407 · $117/mo
• Projected year-2 tax: $1,878 · $156/mo
• Expected delta: +$471/yr (+$39/mo · 33.5%)

ⓘ 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 1/10 Low 7 d/yr ≥91°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $14,092
• − Mortgage interest: −$7,786
• − Property taxes: −$1,407
• − Insurance: −$695
• − Repairs & maintenance: −$1,127
• − Management: −$1,127
• − Depreciation: −$4,044
• Taxable loss: −$2,094
• Est. tax savings @ 24.0%: +$503
• After-tax cash flow: $786/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 — 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

• 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

+1058.3% since first listed

5 events — show timeline

• 2025-11-24 Listed $139,000 CNYIS
• 2025-09-10 Relisted — GBAOR
• 2025-09-04 Price Changed $125,000 GBAOR
• 2025-02-28 Listed $139,900 GBAOR
• 2007-11-13 Sold (Public Records) $12,000 Public Records

Property tax history

-5.4%/yr

Latest (2025): $1,407 · +6.0% YoY. Source: county tax records.