5600 #42 Shute Rd #42 · Nedrow, NY 13084

$124,500

2 bd · 2.0 ba · 1,400 sqft · Manufactured · 265 Days on market

Built 2020 Good condition 1,742 sqft lot $89/sqft · 25% above area Est $99k · 25% over ↓ 17% since listing

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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 +28.4/30.0
• DSCR +10.0/10.0
• Appreciation +8.3/10.0
• 1% rule +7.8/10.0
• Schools +4.4/10.0
• Condition / age +4.0/5.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

Welcome to this perfectly maintained and upgraded double wide manufactured home in Lafayette, offering 1,400 sq ft of comfortable living space. Situated on a desirable corner lot with sweeping views of the surrounding hills, this 2- bedroom, 2-bath home is move-in ready and full of thoughtful upgrades. The bright, open layout features a spacious living area, updated kitchen and bathrooms with modern Moen faucets, Step outside to enjoy the floating deck , hardwired gas Weber grill, fire pit, and extensive landscaping-perfect for entertaining or simply relaxing while taking in the scenery. A GE smart washer and dryer add to the ease of living. Don't miss the opportunity to own this inviting home with a country feel, minutes away for local conveniences. Multiple groomed walking trails and roadways on park property. An extensive list of upgrades is attached with disclosures so many upgrades you have to see the list!! It’s amazing. No taxes and lot rent includes, trash, water, road snow removal. Square footage of 1,400 is taken from property title documents. Fully furnished seller would like 169,900.

Key facts

• Floating deck
• Sweeping views
• Fire pit

Tags

• DOUBLE WIDE MANUFACTURED HOME
• CORNER LOT
• SWEEPING VIEWS
• FLOATING DECK
• HARDWIRED GAS WEBER GRILL
• FIRE PIT

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $124k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $402 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $124k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#415 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment C-, schools D, amenities F.
• Lafayette Central School District (rural): math 45% / reading 56% proficiency, ranked #351 of 590 in NY (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 18 active listings in the ZIP; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($861 loan paydown + $8k appreciation (6.7% local appreciation)).
• Onondaga County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, 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 265 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.

Recommended offer $109,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 265 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 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?
5. 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.
6. 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.
7. 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: 1.28% ✓
• Cap rate: 10.17%
• Cash-on-cash: 13.84%
• DSCR: 1.62
• GRM: 6.5

CMA / ARV

• ARV (median comp): $99,433
• List price: $124,500
• Delta: 25.21%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5600 #72 Shute Rd	0.03mi	2/2.0	1,344 (-4%)	0mo	$90,000	$67	92
5600-65 Shute Rd	0.05mi	2/2.0	1,248 (-11%)	6mo	$60,000	$48	75
5600 Shute Rd #52	0.03mi	3/2.0 (+1)	1,344 (-4%)	22mo	$99,000	$74	68
5600 #88 Shute Rd	0.16mi	2/2.0	1,248 (-11%)	11mo	$94,500	$76	65

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

Projected returns pro-forma

6.66% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.2%
• Equity multiple: 2.91×
• Total profit: $66,510
• Equity at exit: $83,517

10-year hold

• IRR: 25.9%
• Equity multiple: 6.01×
• Total profit: $174,532
• Equity at exit: $156,207

Cash invested: $34,860 (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 13084

• Home prices YoY: 2.2%
• Active inventory: 18
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,598 medium
• Mortgage (P&I): −$653
• Tax est. 1.5%: −$156 /mo · $1,868/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $402

Break-even live

Break-even rent $1,089

Max offer price $124,500

Occupancy floor 70%

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: $31,125
• Closing costs: $3,735
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-16
   days on market $124,500 Active 265 DOM
2. 2026-06-15
   days on market $124,500 Active 264 DOM
3. 2026-06-14
   days on market $124,500 Active 262 DOM
4. 2026-06-13
   days on market $124,500 Active 261 DOM
5. 2026-06-10
   days on market $124,500 Active 259 DOM
6. 2026-06-09
   days on market $124,500 Active 258 DOM
7. 2026-06-08
   days on market $124,500 Active 257 DOM
8. 2026-06-07
   days on market $124,500 Active 256 DOM
9. 2026-06-05
   days on market $124,500 Active 253 DOM
10. 2026-06-03
    days on market $124,500 Active 252 DOM
11. 2026-06-02
    days on market $124,500 Active 251 DOM
12. 2026-06-01
    days on market $124,500 Active 250 DOM
13. 2026-05-31
    days on market $124,500 Active 249 DOM
14. 2026-05-30
    days on market $124,500 Active 248 DOM
15. 2026-05-07
    price $124,500 1119-char remark

    Show marketing remark (1119 chars)

    Welcome to this perfectly maintained and upgraded double wide manufactured home in Lafayette, offering 1,400 sq ft of comfortable living space. Situated on a desirable corner lot with sweeping views of the surrounding hills, this 2- bedroom, 2-bath home is move-in ready and full of thoughtful upgrades. The bright, open layout features a spacious living area, updated kitchen and bathrooms with modern Moen faucets, Step outside to enjoy the floating deck , hardwired gas Weber grill, fire pit, and extensive landscaping-perfect for entertaining or simply relaxing while taking in the scenery. A GE smart washer and dryer add to the ease of living. Don't miss the opportunity to own this inviting home with a country feel, minutes away for local conveniences. Multiple groomed walking trails and roadways on park property. An extensive list of upgrades is attached with disclosures so many upgrades you have to see the list!! It’s amazing. No taxes and lot rent includes, trash, water, road snow removal. Square footage of 1,400 is taken from property title documents. Fully furnished seller would like 169,900.

16. 2026-04-17
    price $129,500 1119-char remark

    Show marketing remark (1119 chars)

    Welcome to this perfectly maintained and upgraded double wide manufactured home in Lafayette, offering 1,400 sq ft of comfortable living space. Situated on a desirable corner lot with sweeping views of the surrounding hills, this 2- bedroom, 2-bath home is move-in ready and full of thoughtful upgrades. The bright, open layout features a spacious living area, updated kitchen and bathrooms with modern Moen faucets, Step outside to enjoy the floating deck , hardwired gas Weber grill, fire pit, and extensive landscaping-perfect for entertaining or simply relaxing while taking in the scenery. A GE smart washer and dryer add to the ease of living. Don't miss the opportunity to own this inviting home with a country feel, minutes away for local conveniences. Multiple groomed walking trails and roadways on park property. An extensive list of upgrades is attached with disclosures so many upgrades you have to see the list!! It’s amazing. No taxes and lot rent includes, trash, water, road snow removal. Square footage of 1,400 is taken from property title documents. Fully furnished seller would like 169,900.

17. 2025-10-28
    price $139,000 1119-char remark

    Show marketing remark (1119 chars)

    Welcome to this perfectly maintained and upgraded double wide manufactured home in Lafayette, offering 1,400 sq ft of comfortable living space. Situated on a desirable corner lot with sweeping views of the surrounding hills, this 2- bedroom, 2-bath home is move-in ready and full of thoughtful upgrades. The bright, open layout features a spacious living area, updated kitchen and bathrooms with modern Moen faucets, Step outside to enjoy the floating deck , hardwired gas Weber grill, fire pit, and extensive landscaping-perfect for entertaining or simply relaxing while taking in the scenery. A GE smart washer and dryer add to the ease of living. Don't miss the opportunity to own this inviting home with a country feel, minutes away for local conveniences. Multiple groomed walking trails and roadways on park property. An extensive list of upgrades is attached with disclosures so many upgrades you have to see the list!! It’s amazing. No taxes and lot rent includes, trash, water, road snow removal. Square footage of 1,400 is taken from property title documents. Fully furnished seller would like 169,900.

18. 2025-09-24
    listed $149,900 Active 1119-char remark

    Show marketing remark (1119 chars)

    Welcome to this perfectly maintained and upgraded double wide manufactured home in Lafayette, offering 1,400 sq ft of comfortable living space. Situated on a desirable corner lot with sweeping views of the surrounding hills, this 2- bedroom, 2-bath home is move-in ready and full of thoughtful upgrades. The bright, open layout features a spacious living area, updated kitchen and bathrooms with modern Moen faucets, Step outside to enjoy the floating deck , hardwired gas Weber grill, fire pit, and extensive landscaping-perfect for entertaining or simply relaxing while taking in the scenery. A GE smart washer and dryer add to the ease of living. Don't miss the opportunity to own this inviting home with a country feel, minutes away for local conveniences. Multiple groomed walking trails and roadways on park property. An extensive list of upgrades is attached with disclosures so many upgrades you have to see the list!! It’s amazing. No taxes and lot rent includes, trash, water, road snow removal. Square footage of 1,400 is taken from property title documents. Fully furnished seller would like 169,900.

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥91°F today · 17 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: $19,176
• − Mortgage interest: −$6,974
• − Property taxes: −$1,868
• − Insurance: −$622
• − Repairs & maintenance: −$1,534
• − Management: −$1,534
• − Depreciation: −$3,622
• Taxable income: $3,022
• Est. tax owed @ 24.0%: −$725
• After-tax cash flow: $4,099/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.

Condition & rehab AI · 1 photo

Good 80/100 Cosmetic rehab

This move-in ready manufactured home is in excellent condition with thoughtful upgrades and a well-maintained exterior. Minor updates to the exterior and interior can further enhance its value.

Value-add opportunities

• Both Painting the exterior — Fresh paint enhances curb appeal and value.
• Both Landscaping improvements — Enhances curb appeal and can attract more renters.
• Resale New flooring in bathrooms — Modern flooring can significantly boost resale value.
• Resale New kitchen appliances — Upgraded appliances can attract more buyers and renters.
• Resale New bathroom fixtures — Modern fixtures can increase the home's appeal and value.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior — Fresh paint enhances curb appeal and value. ↑
• Both Landscaping improvements — Enhances curb appeal and can attract more renters. ↑
• Resale New flooring in bathrooms — Modern flooring can significantly boost resale value. ↑
• Resale New kitchen appliances — Upgraded appliances can attract more buyers and renters. ↑
• Resale New bathroom fixtures — Modern fixtures can increase the home's appeal and value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Lafayette Central School District
• NCES district ID: 3616410
• Math proficiency: 45% ▲ 10.00%
• Reading proficiency: 56% ▲ 22.00%
• Median HH income: $63,210
• Composite: 44.42/100
• National rank: #2809
• State rank: #351 of 590 in NY

Livability — Nedrow

• Score: 71/100
• State rank: #415
• US rank: #7218

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,764

Population outlook (Onondaga County) Hauer SSP2

• Today (2025): 467,894 people
• By 2030: 463,381 · -1.0%
• By 2040: 447,697 · -4.3%
• By 2050: 426,399 · -8.9%
• By 2075: 373,661 · -20.1%
• By 2100: 307,967 · -34.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 10% Black 3% Hispanic / Latino 2% Native American 1%
• Common ancestry: Romanian 6% Lithuanian 6% Iranian 2%
• Foreign-born: 2%

Political lean MEDSL · Onondaga

• 2024 margin: D (+17.3) · D 58.6% · R 41.4%
• 2008→2024 swing: -3.0pp toward R · 2008: 20.3pp · 2024: 17.3pp
• All cycles: 2024: D+17.3 2020: D+20.6 2016: D+12.8 2012: D+21.1 2008: D+20.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.66%
• Current HPI: 312.478
• 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

-16.9% since first listed

4 events — show timeline

• 2026-05-07 Price Changed $124,500 CNYIS
• 2026-04-17 Price Changed $129,500 CNYIS
• 2025-10-28 Price Changed $139,000 CNYIS
• 2025-09-24 Listed $149,900 CNYIS