10 Maple Ave · Cortland, NY 13045

$3,000

12 bd · 2.0 ba · 2,505 sqft · Townhouse public records · 1 Days on market

Built 1915 6,437 sqft lot

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.6/5.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fantastic Investment Opportunity, ideal for student housing. This fully renovated property is a prime investment, offering a historical track record as a student rental. The property features two spacious units, each designed to meet the needs of student tenants: • Unit 1: 6 bedrooms, 2 bathrooms • Unit 2: 6 bedrooms, 1 bathroom. Both units boast modern interiors, fully furnished for convenience, with updated kitchens featuring solid surface countertops, quality appliances, and new cabinetry. The property offers ample parking, with a lot large enough to accommodate up to 12 vehicles, a rare and valuable feature in student housing. Whether you’re looking to expand your portfolio or break into the student rental market, this property is move-in ready and designed to attract and retain tenants with its thoughtful updates and excellent location. Don’t miss out on this turn-key investment opportunity! Town and County taxes are based off of 2024 rates and will be re-calculated when published by Real Property Tax Services. Property currently is listed as a rental under MLS #'s s1565275 and s1584846.

Key facts

• Private student room
• Conveniently located
• 2 parking spots

Tags

• SPACIOUS FURNISHED DUPLEX
• CONVENIENTLY LOCATED
• PRIVATE STUDENT ROOM

Property features AI

Finance

• Other: Two-unit property with separate gas and electric meters
• Financial info: Owner pays utilities, electricity, grounds care, heat, hot water, snow removal and trash collection; Rent (if applicable) includes utilities, common area maintenance, electricity, gardening, heat, hot water, snow removal and trash collection; Operating expenses may include advertising, electric, insurance, maintenance (structure and general), professional management, rent collection, snow removal, supplies, utilities and water/sewer

Exterior

• Parking: Paved parking with two or more spaces
• Utilities: Electricity available; High-speed internet available; Public water connected; Sewer connected
• Home design: 2-story property; Resale condition; Wood siding
• Construction: Wood siding construction; Existing year built
• Exterior features: Rectangular residential lot; City street frontage; 41 x 154 lot dimensions

Interior

• Flooring: Carpet; Luxury vinyl; Varies
• Bathrooms: 3 full bathrooms
• Heating & cooling: Gas forced air heating
• Interior features: Furnished; Full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 12-bed/2.0-bath townhouse listed at $3k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $3k).
• Cap rate 684.7% vs local median 6.2% in Cortland — 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 77/100 on livability (#201 in NY, #3,105 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, schools D+, employment D.
• Cortland City School District (town): math 49% / reading 54% proficiency, ranked #368 of 590 in NY (top 62%) — 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).
• This rent runs 37% of the median local income ($70k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $21 of loan paydown is wiped out by about $90 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 $840 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $3,000

Questions for the listing agent

1. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 72.44% ✓
• Cap rate: 684.69%
• Cash-on-cash: 2422.85%
• DSCR: 108.80
• GRM: 0.1

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: —
• Equity multiple: 142.73×
• Total profit: $119,050
• Equity at exit: $447

10-year hold

• IRR: —
• Equity multiple: 352.38×
• Total profit: $295,160
• Equity at exit: $259

Cash invested: $840 (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: 0.1×

Monthly cashflow live

• Estimated rent: $2,173 medium
• Mortgage (P&I): −$16
• Tax est. 1.5%: −$4 /mo · $45/yr
• Insurance: −$1
• HOA: −$0
• Vacancy / Maint / Mgmt: −$456
• Net cashflow: $1,696

Break-even live

Break-even rent $26

Max offer price $3,000

Occupancy floor 17%

Sensitivity live

Price	-10% $1,698	-5% $1,697	+0% $1,696	+5% $1,695	+10% $1,694
Rent	-10% $1,524	-5% $1,610	+0% $1,696	+5% $1,782	+10% $1,868
Rate	-1.0pp $1,698	-0.5pp $1,697	base $1,696	+0.5pp $1,695	+1.0pp $1,694

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: $750
• Closing costs: $90
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-05
   remarks 699-char remark
2. 2026-06-05
   listed $3,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 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: $26,077
• − Mortgage interest: −$168
• − Property taxes: −$45
• − Insurance: −$15
• − Repairs & maintenance: −$2,086
• − Management: −$2,086
• − Depreciation: −$87
• Taxable income: $21,589
• Est. tax owed @ 24.0%: −$5,181
• After-tax cash flow: $15,171/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: Cortland City School District
• NCES district ID: 3608460
• Math proficiency: 49% ▲ 6.00%
• Reading proficiency: 54% ▲ 17.00%
• Median HH income: $42,413
• Composite: 43.29/100
• National rank: #3041
• State rank: #368 of 590 in NY

Livability — Cortland

• Score: 77/100
• State rank: #201
• US rank: #3105

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cortland, 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

-99.2% since first listed

15 events — show timeline

• 2026-06-03 Listed $3,000 CNYIS
• 2025-12-31 Sold (MLS) $293,000 CNYIS
• 2025-11-24 Pending — CNYIS
• 2025-11-17 Relisted — CNYIS
• 2025-11-15 Listing Removed — CNYIS
• 2025-11-15 Listing Removed — CNYIS
• 2025-10-13 Contingent — CNYIS
• 2025-07-25 Price Changed $349,900 CNYIS
• 2025-01-17 Listed $369,900 CNYIS
• 2024-04-28 Rental Removed $2,900 NYSAMLS
• 2024-01-30 Listed for Rent $2,900 NYSAMLS
• 2024-01-30 Rental Removed $2,500 NYSAMLS
• 2024-01-24 Listed for Rent $2,500 NYSAMLS
• 2022-02-16 Price Changed $2,900 RENT.
• 2021-08-11 Sold (Public Records) $370,000 Public Records

Property tax history

+2.5%/yr

Latest (2025): $12,390 · +4.8% YoY. Source: county tax records.