1 Stockton Pl · Cortland, NY 13045

$129,900

4 bd · 2.0 ba · 1,560 sqft · SingleFamily public records · 17 Days on market

Built 1900 3,049 sqft lot Est $184k · 29% under

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.6/5.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This two-story home offers great potential with features that include an enclosed front porch, hardwood floors, first-floor laundry, and a fully fenced backyard. With a functional layout and plenty of character, this property is ready for someone to bring their vision and updates to life. Conveniently located and full of opportunity, this home would make a great investment or project for a buyer looking to build equity.

Key facts

• Hardwood floors
• First-floor laundry
• Enclosed front porch

Tags

• ENCLOSED FRONT PORCH
• HARDWOOD FLOORS
• FIRST-FLOOR LAUNDRY
• FULLY FENCED BACKYARD

Property features AI

Exterior

• Parking: No garage
• Utilities: Electricity connected; Public water connected; Sewer connected; Cable available; High-speed internet available
• Home design: Two-story existing house; Vinyl siding; Asphalt roof; Block foundation; Rectangular lot (approx. 42 x 77)
• Construction: Vinyl siding construction; Asphalt roof; Block foundation; Built (existing)
• Exterior features: Deck; Enclosed porch; Porch; Fully fenced yard; Gravel driveway; Detached shed(s) / storage

Interior

• Kitchen: Gas oven; Gas range; Refrigerator
• Bedrooms: Four bedrooms total; One main-level bedroom; Three bedrooms on the second level
• Flooring: Hardwood; Linoleum; Vinyl; Varies
• Bathrooms: Two full bathrooms; One full bathroom on the main level
• Heating & cooling: Gas heating; Hot water heating
• Interior features: Ceiling fans; Separate/formal dining room; Entrance foyer; Separate/formal living room; Second kitchen; Natural woodwork; Window treatments (drapes); Convertible bedroom; Bedroom on main level; Has full basement
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $796 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $128k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.6% vs local median 6.2% in Cortland — 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 77/100 on livability (#201 in NY, #3,105 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, schools D+, employment D.
• Cortland City School District (town): math 49% / reading 54% proficiency, ranked #368 of 590 in NY (top 62%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+8.4%/yr); 141 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 45 units permitted in Cortland County in 2024 (12 in 5+ unit buildings).
• This rent runs 37% of the median local income ($70k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Cortland County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $36k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,951 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.65% ✓
• Cap rate: 13.64%
• Cash-on-cash: 26.26%
• DSCR: 2.17
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $184,080
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
39 Evergreen St	0.24mi	4/1.5	1,660 (+6%)	3mo	$205,000	$123	73
69 Hamlin St	0.42mi	3/1.5 (-1)	1,540 (-1%)	13mo	$179,000	$116	60
11 Parker Ave	0.51mi	3/2.0 (-1)	1,584 (+2%)	12mo	$215,000	$136	59
8 Fifth Ave	0.36mi	3/2.0 (-1)	1,438 (-8%)	9mo	$170,000	$118	57
10 Otter Creek Pl	0.71mi	4/2.0	1,520 (-3%)	8mo	$90,000	$59	56
105 Maple Ave	0.56mi	5/2.0 (+1)	1,678 (+8%)	2mo	$165,000	$98	54
148 Groton Ave	0.74mi	4/1.5	1,556 (-0%)	11mo	$179,000	$115	54
12 Pearne Ave	0.33mi	3/1.5 (-1)	1,768 (+13%)	3mo	$196,000	$111	53
31 Arthur Ave	0.32mi	3/1.5 (-1)	1,351 (-13%)	4mo	$118,000	$87	53
19 Hamlin St	0.61mi	3/1.5 (-1)	1,596 (+2%)	11mo	$209,000	$131	51
15 Banks St	0.51mi	3/1.5 (-1)	1,784 (+14%)	1mo	$250,000	$140	45
71 W Main St	0.44mi	3/1.0 (-1)	1,327 (-15%)	2mo	$172,500	$130	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 25.6%
• Equity multiple: 2.13×
• Total profit: $40,966
• Equity at exit: $19,369

10-year hold

• IRR: 36.2%
• Equity multiple: 5.19×
• Total profit: $152,494
• Equity at exit: $11,231

Cash invested: $36,372 (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 13045

• Home prices YoY: -9.3%
• Rents YoY: 8.4%
• Active inventory: 141
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $2,138 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$158 /mo · $1,899/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$449
• Net cashflow: $796

Break-even live

Break-even rent $1,131

Max offer price $129,900

Occupancy floor 58%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
88 Clinton Ave Cortland, NY	3.0	1.0	1100	$1,600	$1.45	43d	1	0.75mi
16 Pendleton St #1 Cortland, NY	3.0	1.0	2000	$1,400	$0.70	43d	1	0.82mi
109 Main St Unit 2 and 4 Cortland, NY	3.0	1.0	1200	$1,775	$1.48	43d	1	0.89mi
31 James St Cortland, NY	3.0	1.5	1319	$3,600	$2.73	43d	1	0.95mi
3 Morningside Dr Cortland, NY	3.0	1.5	1464	$2,150	$1.47	43d	1	1.24mi

Listing history 7 events

1. 2026-06-05
   statusdays on market $129,900 Pending 17 DOM
2. 2026-06-03
   days on market $129,900 Active 16 DOM
3. 2026-06-02
   days on market $129,900 Active 15 DOM
4. 2026-06-01
   days on market $129,900 Active 14 DOM
5. 2026-05-31
   days on market $129,900 Active 13 DOM
6. 2026-05-30
   days on market $129,900 Active 12 DOM
7. 2026-05-18
   listed $129,900 Active

ⓘ 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: $1,899 · $158/mo
• Projected year-2 tax: $2,047 · $171/mo
• Expected delta: +$148/yr (+$12/mo · 7.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥95°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: $25,661
• − Mortgage interest: −$7,276
• − Property taxes: −$1,899
• − Insurance: −$650
• − Repairs & maintenance: −$2,053
• − Management: −$2,053
• − Depreciation: −$3,779
• Taxable income: $7,952
• Est. tax owed @ 24.0%: −$1,908
• After-tax cash flow: $7,641/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: Cortland City School District
• NCES district ID: 3608460
• Math proficiency: 49% ▲ 6.00%
• Reading proficiency: 54% ▲ 17.00%
• Median HH income: $42,413
• Composite: 43.29/100
• National rank: #3041
• State rank: #368 of 590 in NY

Livability — Cortland

• Score: 77/100
• State rank: #201
• US rank: #3105

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cortland, NY
• County: Cortland County · 28,361 people
• City population: 28,361
• Metro: Cortland, NY
• Population (ZIP): 28,361
• Household income: $69,961
• Rent vs Own: 41.7% rent · 58.3% own
• Severe rent burden: 1488.0

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 (87%)
• Race & ethnicity: White 87% Two or more races 5% Hispanic / Latino 5% Black 3% Asian 2%
• Common ancestry: Romanian 4% Lithuanian 2% Italian 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 94% English-only · Spanish 2% Russian/Polish/Slavic 2% Other Indo-European 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: ▼ -29.78%
• Current HPI: 289.515
• Rent YoY: ▲ 8.37%
• Metro: Cortland, NY
• 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

1 event — show timeline

• 2026-05-18 Listed $129,900 CNYIS

Property tax history

-0.1%/yr

Latest (2025): $1,899 · +5.3% YoY. Source: county tax records.