397 County Route 28 · Altmar, NY 13142

$80,000

3 bd · 2.0 ba · 980 sqft · Manufactured public records · 240 Days on market

Built 2000 3.81 ac 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 +9.1/10.0
• ARV discount +7.5/15.0
• Livability +2.9/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Situated on a desirable corner lot, this 3 Br/2 Ba single wide mobile home is conveniently located near (I-81,) ATV trails, and the Salmon River. Nearby amenities include grocery shopping, restaurants, schools, and parks to ensure that all of your needs are just a short distance away. Enjoy the best of both worlds with the peace and tranquility of suburban living combined with the proximity to urban conveniences. The detached garage adds storage space, a work bench or just to park your car. The open floor plan seamlessly connects the living room, dining space and kitchen, providing a perfect setting for hosting family gatherings or socializing with friends. The changes you wish to make inside will give you the pride of home ownership.

Key facts

• Metal roof
• Snowmobile trails
• Front porch

Tags

• FRONT PORCH
• METAL ROOF
• SALMON RIVER
• 4 WHEELERS TRAILS
• SNOWMOBILE TRAILS
• HORSES PERMITTED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $80k.

Deal economics

• At list price, monthly cash flow is $420 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.6% vs local median 3.2% in Altmar — 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 57/100 on livability (#1,077 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D+, health & safety D, schools F.
• Altmar-Parish-Williamstown Central School District (rural): math 31% / reading 31% proficiency, ranked #573 of 590 in NY (top 97%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 63 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 $7k of equity ($553 loan paydown + $7k appreciation (8.1% 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 (8.1% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 240 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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 $60k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $70,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 240 days. Have you received any prior offers? Is the seller open to a 12% 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. Schools are F-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: 1.56% ✓
• Cap rate: 12.59%
• Cash-on-cash: 22.48%
• DSCR: 2.00
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

8.13% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 38.0%
• Equity multiple: 3.70×
• Total profit: $60,395
• Equity at exit: $61,507

10-year hold

• IRR: 33.8%
• Equity multiple: 7.94×
• Total profit: $155,461
• Equity at exit: $122,794

Cash invested: $22,400 (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 13142

• Home prices YoY: 2.8%
• Active inventory: 63
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,251 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$116 /mo · $1,388/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $420

Break-even live

Break-even rent $720

Max offer price $80,000

Occupancy floor 61%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-04-16
   status Pending
2. 2025-08-19
   listed $80,000 Active
3. 2023-11-22
   soldstatus $60,000
4. 2023-11-10
   soldstatus $60,000 Closed Sale or Rented 744-char remark

   Show marketing remark (744 chars)

   Situated on a desirable corner lot, this 3 Br/2 Ba single wide mobile home is conveniently located near (I-81,) ATV trails, and the Salmon River. Nearby amenities include grocery shopping, restaurants, schools, and parks to ensure that all of your needs are just a short distance away. Enjoy the best of both worlds with the peace and tranquility of suburban living combined with the proximity to urban conveniences. The detached garage adds storage space, a work bench or just to park your car. The open floor plan seamlessly connects the living room, dining space and kitchen, providing a perfect setting for hosting family gatherings or socializing with friends. The changes you wish to make inside will give you the pride of home ownership.

5. 2023-09-06
   status Under Contract- Do Not Show 744-char remark

   Show marketing remark (744 chars)

   Situated on a desirable corner lot, this 3 Br/2 Ba single wide mobile home is conveniently located near (I-81,) ATV trails, and the Salmon River. Nearby amenities include grocery shopping, restaurants, schools, and parks to ensure that all of your needs are just a short distance away. Enjoy the best of both worlds with the peace and tranquility of suburban living combined with the proximity to urban conveniences. The detached garage adds storage space, a work bench or just to park your car. The open floor plan seamlessly connects the living room, dining space and kitchen, providing a perfect setting for hosting family gatherings or socializing with friends. The changes you wish to make inside will give you the pride of home ownership.

6. 2023-08-16
   listed $80,000 Active 744-char remark

   Show marketing remark (744 chars)

   Situated on a desirable corner lot, this 3 Br/2 Ba single wide mobile home is conveniently located near (I-81,) ATV trails, and the Salmon River. Nearby amenities include grocery shopping, restaurants, schools, and parks to ensure that all of your needs are just a short distance away. Enjoy the best of both worlds with the peace and tranquility of suburban living combined with the proximity to urban conveniences. The detached garage adds storage space, a work bench or just to park your car. The open floor plan seamlessly connects the living room, dining space and kitchen, providing a perfect setting for hosting family gatherings or socializing with friends. The changes you wish to make inside will give you the pride of home ownership.

7. 2005-07-29
   soldstatus $12,500

ⓘ 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: $1,388 · $116/mo
• Projected year-2 tax: $1,388 · $116/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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,009
• − Mortgage interest: −$4,481
• − Property taxes: −$1,388
• − Insurance: −$400
• − Repairs & maintenance: −$1,201
• − Management: −$1,201
• − Depreciation: −$2,327
• Taxable income: $4,012
• Est. tax owed @ 24.0%: −$963
• After-tax cash flow: $4,073/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: Altmar-Parish-Williamstown Central School District
• NCES district ID: 3602820
• Math proficiency: 31% ▼ -14.00%
• Reading proficiency: 31% ▼ -5.00%
• Median HH income: $49,728
• Composite: 27.01/100
• National rank: #7063
• State rank: #573 of 590 in NY

Livability — Altmar

• Score: 57/100
• State rank: #1077
• US rank: #21658

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 6,568

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% Two or more races 4%
• Common ancestry: Lithuanian 5% Romanian 3% Italian 3%
• Foreign-born: 1%
• Languages at home: 98% English-only · German/W. Germanic 1% Arabic 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: ▲ 8.13%
• Current HPI: 294.1918
• 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

+540.0% since first listed

7 events — show timeline

• 2026-04-16 Pending — CNYIS
• 2025-08-19 Listed $80,000 CNYIS
• 2023-11-22 Sold (Public Records) $60,000 Public Records
• 2023-11-10 Sold (MLS) $60,000 CNYIS
• 2023-09-06 Pending — CNYIS
• 2023-08-16 Listed $80,000 CNYIS
• 2005-07-29 Sold (Public Records) $12,500 Public Records

Property tax history

+7.3%/yr

Latest (2025): $1,388 · +5.6% YoY. Source: county tax records.