1822 County Route 6 Lot E4 Lot E4 · Fulton, NY 13069

$40,000

3 bd · 2.0 ba · 1,120 sqft · Manufactured · 29 Days on market

Built 1997 Good condition 52 ac lot $36/sqft · 66% below area

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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 +8.4/10.0
• ARV discount +7.5/15.0
• Condition / age +3.8/5.0
• Livability +3.1/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0

Listing remarks MLS

Welcome to this beautifully maintained manufactured home in the Green Acres community. This 3-bedroom, 2 full bath residence offers generous living space and thoughtful details throughout. Featuring fresh paint and new flooring throughout, the home feels bright, updated, and move-in ready. The charming kitchen offers plenty of cabinetry, ample counter space, and a warm, inviting atmosphere, perfect for home-cooked meals and casual gatherings. A separate laundry area adds everyday convenience, while the home’s end-lot location provides an extra sense of privacy and a quieter setting. Enjoy the benefits of living in a well-kept park, known for its friendly neighbors and tidy surroundings. This home combines comfort, functionality, and value, ready for you to move in and make it your own.

Key facts

• End-lot location
• Well-kept park
• Charming kitchen

Tags

• CHARMING KITCHEN
• SEPARATE LAUNDRY AREA
• END-LOT LOCATION
• WELL-KEPT PARK

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $40k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $931 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Recommended offer: $39k (1.5% below list) — sets the bar for market timing.
• Cap rate 34.2% vs local median 6.9% in Fulton — 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 61/100 on livability (#907 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, schools D-, crime F.
• Fulton City School District (town): math 29% / reading 43% proficiency, ranked #554 of 590 in NY (top 94%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 115 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 $3k of equity ($277 loan paydown + $3k appreciation (6.8% 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 (6.8% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($39k) is reasonable based on typical stale-listing flexibility.

Recommended offer $39,400 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
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: 3.82% ✓
• Cap rate: 34.23%
• Cash-on-cash: 99.76%
• DSCR: 5.44
• GRM: 2.2

CMA / ARV

• ARV (median comp): $118,000
• List price: $40,000
• Delta: -66.10%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1822 County Route 6 Lot E4 Lot E4	0.00mi	3/2.0	1,120 (0%)	0mo	$40,000	$36	100
499 Baldwin Rd	0.64mi	3/1.5	1,092 (-2%)	4mo	$118,000	$108	60

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

6.75% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.49×
• Total profit: $72,670
• Equity at exit: $27,057

10-year hold

• IRR: —
• Equity multiple: 15.91×
• Total profit: $166,977
• Equity at exit: $50,808

Cash invested: $11,200 (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 13069

• Home prices YoY: 2.3%
• Active inventory: 115
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $1,528 medium
• Mortgage (P&I): −$210
• Tax est. 1.5%: −$50 /mo · $600/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $931

Break-even live

Break-even rent $350

Max offer price $40,000

Occupancy floor 34%

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-07
   status Pending 802-char remark

   Show marketing remark (802 chars)

   Welcome to this beautifully maintained manufactured home in the Green Acres community. This 3-bedroom, 2 full bath residence offers generous living space and thoughtful details throughout. Featuring fresh paint and new flooring throughout, the home feels bright, updated, and move-in ready. The charming kitchen offers plenty of cabinetry, ample counter space, and a warm, inviting atmosphere, perfect for home-cooked meals and casual gatherings. A separate laundry area adds everyday convenience, while the home’s end-lot location provides an extra sense of privacy and a quieter setting. Enjoy the benefits of living in a well-kept park, known for its friendly neighbors and tidy surroundings. This home combines comfort, functionality, and value, ready for you to move in and make it your own.

2. 2026-04-08
   listed $40,000 Active 802-char remark

   Show marketing remark (802 chars)

   Welcome to this beautifully maintained manufactured home in the Green Acres community. This 3-bedroom, 2 full bath residence offers generous living space and thoughtful details throughout. Featuring fresh paint and new flooring throughout, the home feels bright, updated, and move-in ready. The charming kitchen offers plenty of cabinetry, ample counter space, and a warm, inviting atmosphere, perfect for home-cooked meals and casual gatherings. A separate laundry area adds everyday convenience, while the home’s end-lot location provides an extra sense of privacy and a quieter setting. Enjoy the benefits of living in a well-kept park, known for its friendly neighbors and tidy surroundings. This home combines comfort, functionality, and value, ready for you to move in and make it your own.

ⓘ 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 2/10 Low 7 d/yr ≥94°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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,342
• − Mortgage interest: −$2,241
• − Property taxes: −$600
• − Insurance: −$200
• − Repairs & maintenance: −$1,467
• − Management: −$1,467
• − Depreciation: −$1,164
• Taxable income: $11,203
• Est. tax owed @ 24.0%: −$2,689
• After-tax cash flow: $8,484/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.

Condition & rehab AI · 2 photos

Good 75/100 Cosmetic rehab

This beautifully maintained manufactured home in the Green Acres community is move-in ready with fresh paint and new flooring. It offers a good condition with potential for further improvements to enhance its curb appeal and value.

Value-add opportunities

• Both Landscaping improvements — Enhances curb appeal and adds value for both resale and rental.
• Both Add a small front porch or entryway — Improves the home's aesthetic and adds value for both resale and rental.
• Both Install a security system — Enhances safety and adds value for both resale and rental.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping improvements — Enhances curb appeal and adds value for both resale and rental. ↑
• Both Add a small front porch or entryway — Improves the home's aesthetic and adds value for both resale and rental. ↑
• Both Install a security system — Enhances safety and adds value for both resale and rental. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Fulton City School District
• NCES district ID: 3611700
• Math proficiency: 29% ▼ -11.00%
• Reading proficiency: 43% ▲ 5.00%
• Median HH income: $43,337
• Composite: 30.49/100
• National rank: #6220
• State rank: #554 of 590 in NY

Livability — Fulton

• Score: 61/100
• State rank: #907
• US rank: #17723

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 23,176

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 (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Lithuanian 6% Romanian 6% Iranian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 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: ▲ 6.75%
• Current HPI: 304.443
• 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

2 events — show timeline

• 2026-05-07 Pending — CNYIS
• 2026-04-08 Listed $40,000 CNYIS