348 W Stone Rd · Mexico, NY 13114

$75,000

3 bd · 1.0 ba · 1,352 sqft · SingleFamily public records · 9 Days on market

Built 1880 5.95 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Opportunity awaits for investors, contractors, flippers, or buyers looking to take on a full renovation project! This home for sale is located in the Town of New Haven and Mexico School District. Featuring 3 bedrooms, 1 full bathroom, and is ready for a complete rehabilitation to bring it back to life. Situated on a great corner lot with 5.95 total acres of land. Spacious rooms, oversized country kitchen with pantry space, a large living area, and plenty of original character waiting to be restored. Outside, you'll find nearly 6 acres of land on a great corner lot. The 448 square foot barn is deal for storage, equipment, hobbies, or workshop use. The expansive lot provides plenty of room fo

Key facts

• Total acres of land
• Room for recreation
• 448 square foot barn

Tags

• FULL RENOVATION PROJECT
• CORNER LOT
• TOTAL ACRES OF LAND
• 448 SQUARE FOOT BARN
• ROOM FOR RECREATION

Property features AI

Exterior

• Parking: Detached garage (1 car)
• Utilities: Electricity connected; Well water; Septic tank
• Home design: 2-story existing home
• Construction: Composite siding; Metal roof; Stone foundation; Resale condition
• Exterior features: Gravel driveway; Corner, rectangular lot (approx. 5.95 acres, dimensions 535 x 478)

Interior

• Kitchen: Electric cooktop; Refrigerator; Propane water heater
• Bedrooms: 1 main level bedroom
• Flooring: Carpet; Various flooring
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Oil heating; Forced air
• Interior features: Bedroom on main level; Partial basement; See remarks / other interior features
• Laundry & utility: Main level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $322 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Cap rate 11.4% vs local median 3.1% in Mexico — 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 64/100 on livability (#756 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety D-.
• Mexico Central School District (rural): math 33% / reading 42% proficiency, ranked #540 of 590 in NY (top 92%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 26 active listings in the ZIP; 172 units permitted in Oswego County in 2024 (27 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($519 loan paydown + $8k appreciation (10.0% local appreciation)).
• Oswego County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 3.9% of price; built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,000

Questions for the listing agent

1. Built in 1880 — 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. 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?
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: 1.67% ✓
• Cap rate: 11.44%
• Cash-on-cash: 18.38%
• DSCR: 1.82
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 38.0%
• Equity multiple: 3.93×
• Total profit: $61,446
• Equity at exit: $67,566

10-year hold

• IRR: 32.8%
• Equity multiple: 8.86×
• Total profit: $165,052
• Equity at exit: $145,709

Cash invested: $21,000 (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 13114

• Home prices YoY: 18.3%
• Active inventory: 26
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,250 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$241 /mo · $2,895/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $322

Break-even live

Break-even rent $843

Max offer price $75,000

Occupancy floor 69%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-18
   status $75,000 Pending 9 DOM
2. 2026-06-18
   days on market $75,000 Active 9 DOM
3. 2026-06-17
   days on market $75,000 Active 8 DOM
4. 2026-06-16
   days on market $75,000 Active 7 DOM
5. 2026-06-15
   days on market $75,000 Active 6 DOM
6. 2026-06-14
   days on market $75,000 Active 4 DOM
7. 2026-06-13
   days on market $75,000 Active 3 DOM
8. 2026-06-10
   remarks 699-char remark
9. 2026-06-10
   listed $75,000 Active 1 DOM

ⓘ 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: $2,895 · $241/mo
• Projected year-2 tax: $2,895 · $241/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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,000
• − Mortgage interest: −$4,201
• − Property taxes: −$2,895
• − Insurance: −$375
• − Repairs & maintenance: −$1,200
• − Management: −$1,200
• − Depreciation: −$2,182
• Taxable income: $2,947
• Est. tax owed @ 24.0%: −$707
• After-tax cash flow: $3,153/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: Mexico Central School District
• NCES district ID: 3619170
• Math proficiency: 33% ▼ -19.00%
• Reading proficiency: 42% ▲ 1.00%
• Median HH income: $51,635
• Composite: 32.55/100
• National rank: #5691
• State rank: #540 of 590 in NY

Livability — Mexico

• Score: 64/100
• State rank: #756
• US rank: #14489

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 7,313
• Population (ZIP): 7,313

Population outlook (Oswego County) Hauer SSP2

• Today (2025): 114,465 people
• By 2030: 109,968 · -3.9%
• By 2040: 99,205 · -13.3%
• By 2050: 87,979 · -23.1%
• By 2075: 65,100 · -43.1%
• By 2100: 47,117 · -58.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Lithuanian 5% Romanian 4% Portuguese 3%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Other Asian/Pacific 1%

Political lean MEDSL · Oswego

• 2024 margin: Strong R (+24.2) · D 37.9% · R 62.1%
• 2008→2024 swing: -26.6pp toward R · 2008: 2.5pp · 2024: -24.2pp
• All cycles: 2024: R+24.2 2020: R+20.2 2016: R+23.2 2012: D+7.9 2008: D+2.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 50.65%
• Current HPI: 327.6719
• 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 event — show timeline

• 2026-06-09 Listed $75,000 CNYIS

Property tax history

+1.0%/yr

Latest (2025): $2,895 · -1.5% YoY. Source: county tax records.