6224 Coye Rd · De Witt, NY 13078

$69,900

2 bd · 1.0 ba · 1,731 sqft · SingleFamily public records · 5 Days on market

Built 1942 0.40 ac lot ↓ 2% 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
• Schools +4.4/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

BEST and FINAL OFFERS DUE TUEDAY 9/2 AT 5:00 PM. PLEASE USE CAUTION WHEN VIEWING - COLLAPSED ROOF WITH RESULTING DAMAGE. Idyllic convenient country location with so much possibility. This home is looking for an industrious remodeler to bring it back to life and reap the rewards. 3 Bedroom, 1 1/2 bath previously installed, shed w/ electricity, natural gas, public water, newer septic tank and leach field.

Key facts

• Leach field
• Newer septic tank
• Natural gas

Tags

• SHED WITH ELECTRICITY
• NATURAL GAS
• PUBLIC WATER
• NEWER SEPTIC TANK
• LEACH FIELD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $817 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Cap rate 20.3% vs local median 3.8% in De Witt — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• 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: 50 active listings in the ZIP; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• 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 $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $69,900

Questions for the listing agent

1. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.56% ✓
• Cap rate: 20.32%
• Cash-on-cash: 50.11%
• DSCR: 3.23
• GRM: 3.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 47.9%
• Equity multiple: 3.09×
• Total profit: $40,824
• Equity at exit: $10,422

10-year hold

• IRR: 53.5%
• Equity multiple: 6.26×
• Total profit: $102,967
• Equity at exit: $6,044

Cash invested: $19,572 (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 13078

• Home prices YoY: -4.4%
• Active inventory: 50
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,788 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$200 /mo · $2,396/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $817

Break-even live

Break-even rent $754

Max offer price $69,900

Occupancy floor 49%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2025-09-03
   status Pending
2. 2025-08-29
   listed $69,900 Active
3. 1995-03-14
   soldstatus $71,145

ⓘ 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: $2,396 · $200/mo
• Projected year-2 tax: $2,396 · $200/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 7 d/yr ≥92°F today · 16 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: $21,458
• − Mortgage interest: −$3,915
• − Property taxes: −$2,396
• − Insurance: −$350
• − Repairs & maintenance: −$1,717
• − Management: −$1,717
• − Depreciation: −$2,033
• Taxable income: $9,330
• Est. tax owed @ 24.0%: −$2,239
• After-tax cash flow: $7,568/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: 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 — De Witt

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• City population: 8,713
• Population (ZIP): 10,564

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 (76%)
• Race & ethnicity: White 76% Asian 11% Two or more races 7% Black 5% Hispanic / Latino 2%
• Common ancestry: Lithuanian 4% Romanian 3% Italian 2%
• Foreign-born: 10% · China, Canada, South Korea
• Languages at home: 84% English-only · Other Indo-European 7% Chinese 4% Spanish 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: ▼ -14.31%
• Current HPI: 311.5908
• 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

-1.7% since first listed

3 events — show timeline

• 2025-09-03 Pending — CNYIS
• 2025-08-29 Listed $69,900 CNYIS
• 1995-03-14 Sold (Public Records) $71,145 Public Records

Property tax history

+5.1%/yr

Latest (2025): $2,396 · +0.4% YoY. Source: county tax records.