7408 Academy St · Fabius, NY 13138

$80,000

3 bd · 1.0 ba · 2,048 sqft · SingleFamily public records · 32 Days on market

Built 1847 0.52 ac lot ↓ 33% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Schools +4.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Opportunity is knocking in the heart of the Village of Pompey! This 3-bedroom, 1-bath home sits proudly on a corner lot and offers the perfect canvas for investors, renovators, or buyers looking to build equity with a little vision and effort. Inside, you’ll find a traditional layout ready to be reimagined. While the property will require renovations, the bones are there for someone to bring it back to life and create a truly charming residence. The corner lot provides added space, flexibility, and curb appeal potential—ideal for future landscaping, outdoor living areas. Located in a desirable setting with easy access to surrounding communities, this is a chance to invest in a p

Key facts

• 0.52 acre lot
• Built 1847
• Listed 32 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $373 ($4k/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: $78k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#824 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B; Watch: crime F, amenities F, commute F.
• Fabius-Pompey Central School District (rural): math 48% / reading 55% proficiency, ranked #322 of 590 in NY (top 55%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 5 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 $3k of equity ($553 loan paydown + $2k appreciation (3.0% 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 (3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 4.7% of price; built in 1847 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,600 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1847 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
7. 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.
8. 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.
9. 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: 1.80% ✓
• Cap rate: 11.89%
• Cash-on-cash: 19.99%
• DSCR: 1.89
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $417,792
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2750 State Route 91	0.44mi	4/2.0 (+1)	1,964 (-4%)	9mo	$400,000	$204	56

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.4%
• Equity multiple: 2.50×
• Total profit: $33,559
• Equity at exit: $35,971

10-year hold

• IRR: 27.1%
• Equity multiple: 4.86×
• Total profit: $86,373
• Equity at exit: $55,436

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 13138

• Active inventory: 5
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,439 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$311 /mo · $3,731/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $373

Break-even live

Break-even rent $967

Max offer price $80,000

Occupancy floor 69%

Sensitivity live

Price	-10% $639	-5% $396	+0% $373	+5% $351	+10% $328
Rent	-10% $260	-5% $316	+0% $373	+5% $430	+10% $487
Rate	-1.0pp $413	-0.5pp $394	base $373	+0.5pp $352	+1.0pp $331

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 4 events

1. 2026-05-19
   status Pending
2. 2026-04-27
   historical Active Under Contract
3. 2026-04-23
   price $80,000
4. 2026-04-17
   listed $120,000 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: $3,731 · $311/mo
• Projected year-2 tax: $3,731 · $311/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 2/10 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: $17,271
• − Mortgage interest: −$4,481
• − Property taxes: −$3,731
• − Insurance: −$400
• − Repairs & maintenance: −$1,382
• − Management: −$1,382
• − Depreciation: −$2,327
• Taxable income: $3,568
• Est. tax owed @ 24.0%: −$856
• After-tax cash flow: $3,622/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: Fabius-Pompey Central School District
• NCES district ID: 3610860
• Math proficiency: 48% ▼ -9.00%
• Reading proficiency: 55% ▲ 5.00%
• Median HH income: $72,564
• Composite: 46.16/100
• National rank: #2499
• State rank: #322 of 590 in NY

Livability — Fabius

• Score: 63/100
• State rank: #824
• US rank: #15935

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 209

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 (98%)
• Race & ethnicity: White 98%
• Common ancestry: Iranian 9% Serbian 7%
• Foreign-born: 1%
• Languages at home: 99% English-only · Tagalog/Filipino 1%

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: —
• Current HPI: —
• 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

-33.3% since first listed

4 events — show timeline

• 2026-05-19 Pending — CNYIS
• 2026-04-27 Contingent — CNYIS
• 2026-04-23 Price Changed $80,000 CNYIS
• 2026-04-17 Listed $120,000 CNYIS

Property tax history

+1.8%/yr

Latest (2025): $3,731 · +2.9% YoY. Source: county tax records.