3312 Clute Rd · Blodgett Mills, NY 13045

$99,999

2 bd · 1.5 ba · 720 sqft · Manufactured public records · 79 Days on market

Built 1970 1.59 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
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +4.6/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Country living in the small Hamlet of Blodgett Mills. Looking for your first starter home? Many options for this great 1-2 bedroom single wide on a full basement with closed in porch. 2 car garage, plenty of lawn for gardening, playing sports, Barbeques, picnics, or just relaxing. Only minutes from town.

Key facts

• Covered porch
• Walkout basement
• First floor laundry

Tags

• FIRST FLOOR LAUNDRY
• WALKOUT BASEMENT
• COVERED PORCH
• LARGE OPEN CLEARED YARD
• DOUBLE WIDE PAVED DRIVEWAY

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $405 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#709 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: health & safety D, schools F, crime F.
• Mcgraw Central School District (rural): math 57% / reading 61% proficiency, ranked #252 of 590 in NY (top 43%) — 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; 45 units permitted in Cortland County in 2024 (12 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago; this cycle's ask has dropped $15k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $93,999 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.41% ✓
• Cap rate: 11.16%
• Cash-on-cash: 17.37%
• DSCR: 1.77
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 14.4%
• Equity multiple: 1.61×
• Total profit: $17,119
• Equity at exit: $14,910

10-year hold

• IRR: 26.7%
• Equity multiple: 3.94×
• Total profit: $82,296
• Equity at exit: $8,646

Cash invested: $28,000 (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: 5.9×

Monthly cashflow live

• Estimated rent: $1,414 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$146 /mo · $1,746/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $405

Break-even live

Break-even rent $901

Max offer price $99,999

Occupancy floor 66%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-17
   status $99,999 Pending 79 DOM
2. 2026-06-17
   days on market $99,999 Active Under Contract 79 DOM
3. 2026-06-16
   days on market $99,999 Active Under Contract 78 DOM
4. 2026-06-15
   days on market $99,999 Active Under Contract 77 DOM
5. 2026-06-14
   days on market $99,999 Active Under Contract 75 DOM
6. 2026-06-12
   days on market $99,999 Active Under Contract 74 DOM
7. 2026-06-09
   days on market $99,999 Active Under Contract 71 DOM
8. 2026-06-08
   days on market $99,999 Active Under Contract 70 DOM
9. 2026-06-07
   days on market $99,999 Active Under Contract 69 DOM
10. 2026-06-05
    days on market $99,999 Active Under Contract 66 DOM
11. 2026-06-03
    days on market $99,999 Active Under Contract 65 DOM
12. 2026-06-02
    days on market $99,999 Active Under Contract 64 DOM
13. 2026-06-01
    days on market $99,999 Active Under Contract 63 DOM
14. 2026-05-31
    days on market $99,999 Active Under Contract 62 DOM
15. 2026-05-30
    days on market $99,999 Active Under Contract 61 DOM
16. 2026-04-13
    historical Active Under Contract
17. 2026-04-09
    price $99,999
18. 2026-03-30
    listed $115,000 Active
19. 2024-12-19
    soldstatus $115,250
20. 2023-07-28
    soldstatus $54,000
21. 2020-02-25
    soldstatus $50,000
22. 2020-02-14
    soldstatus $49,900 306-char remark

    Show marketing remark (306 chars)

    Country living in the small Hamlet of Blodgett Mills. Looking for your first starter home? Many options for this great 1-2 bedroom single wide on a full basement with closed in porch. 2 car garage, plenty of lawn for gardening, playing sports, Barbeques, picnics, or just relaxing. Only minutes from town.

23. 2019-02-11
    listed $49,900 306-char remark

    Show marketing remark (306 chars)

    Country living in the small Hamlet of Blodgett Mills. Looking for your first starter home? Many options for this great 1-2 bedroom single wide on a full basement with closed in porch. 2 car garage, plenty of lawn for gardening, playing sports, Barbeques, picnics, or just relaxing. Only minutes from town.

24. 2017-12-29
    soldstatus $28,000

ⓘ 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: $1,746 · $146/mo
• Projected year-2 tax: $1,746 · $146/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 1/10 Low
• 🌡 Heat 2/10 Low 8 d/yr ≥92°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: $16,966
• − Mortgage interest: −$5,601
• − Property taxes: −$1,746
• − Insurance: −$500
• − Repairs & maintenance: −$1,357
• − Management: −$1,357
• − Depreciation: −$2,909
• Taxable income: $3,495
• Est. tax owed @ 24.0%: −$839
• After-tax cash flow: $4,025/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: Mcgraw Central School District
• NCES district ID: 3618840
• Math proficiency: 57% ▲ 7.00%
• Reading proficiency: 61% ▲ 11.00%
• Median HH income: $51,404
• Composite: 50.37/100
• National rank: #1875
• State rank: #252 of 590 in NY

Livability — Blodgett Mills

• Score: 65/100
• State rank: #709
• US rank: #13501

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Blodgett Mills, 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

+257.1% since first listed

9 events — show timeline

• 2026-04-13 Contingent — CNYIS
• 2026-04-09 Price Changed $99,999 CNYIS
• 2026-03-30 Listed $115,000 CNYIS
• 2024-12-19 Sold (Public Records) $115,250 Public Records
• 2023-07-28 Sold (Public Records) $54,000 Public Records
• 2020-02-25 Sold (Public Records) $50,000 Public Records
• 2020-02-14 Sold (MLS) $49,900 CNYIS
• 2019-02-11 Listed $49,900 CNYIS
• 2017-12-29 Sold (Public Records) $28,000 Public Records

Property tax history

+8.5%/yr

Latest (2025): $1,746 · +5.0% YoY. Source: county tax records.