724 Ontario St · Fulton, NY 13069

$40,000

4 bd · 1.0 ba · 1,395 sqft · SingleFamily public records · 22 Days on market

Built 1945 7,722 sqft lot $29/sqft · 74% below area ↓ 17% 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
• Appreciation +8.4/10.0
• ARV discount +7.5/15.0
• Livability +3.1/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

CUTE CAPE COD STYLE HOME THAT IS AN AFFORDABLE PLACE TO START! COUNTRY KITCHEN, HARDWOOD FLOORING. .. 2 BEDROOMS ON THE 1ST LEVEL AND TWO UPSTAIRS!! QUIET AREA AND A NICE YARD TO RAISE CHILDREN!

Key facts

• 7,722 sq ft lot
• Built 1945
• Listed 22 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Sewer connected; Public water available; Electric with circuit breakers
• Home design: Single-story; Resale property
• Construction: Aluminum siding; PEX plumbing; Block foundation; Existing (year built details)
• Exterior features: Blacktop driveway; Deck

Interior

• Kitchen: Electric oven; Electric range; Refrigerator
• Bedrooms: 2 main-level bedrooms
• Flooring: Carpet; Laminate; Varies
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Gas forced-air heating
• Interior features: Eat-in kitchen; Bedroom on main level; Main-level primary bedroom; Partial basement
• Laundry & utility: Laundry in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $932 ($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 34.3% 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; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 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 22 days — a 2% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y 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 1945 — expect roof / HVAC / electrical / plumbing capex.

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

Questions for the listing agent

1. Built in 1945 — 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. 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?
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: 3.82% ✓
• Cap rate: 34.26%
• Cash-on-cash: 99.88%
• DSCR: 5.44
• GRM: 2.2

CMA / ARV

• ARV (median comp): $154,102
• List price: $40,000
• Delta: -74.04%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
609 Seneca St	0.15mi	3/1.0 (-1)	1,381 (-1%)	1mo	$118,450	$86	85
614 Utica St	0.30mi	4/1.0	1,374 (-2%)	3mo	$25,000	$18	81
611 Erie St	0.12mi	3/1.5 (-1)	1,320 (-5%)	1mo	$110,000	$83	78
117 S 7th St	0.38mi	3/1.0 (-1)	1,347 (-3%)	1mo	$50,000	$37	70
10 N 8th St	0.12mi	3/2.0 (-1)	1,316 (-6%)	6mo	$150,000	$114	70
524 Rochester St	0.38mi	4/2.0	1,460 (+5%)	1mo	$80,000	$55	70
520 Seneca St	0.21mi	3/1.0 (-1)	1,328 (-5%)	9mo	$145,000	$109	70
871 Oneida St	0.24mi	4/1.5	1,512 (+8%)	5mo	$172,000	$114	68
607 Highland St	0.51mi	3/1.0 (-1)	1,396 (+0%)	8mo	$173,000	$124	64
1019 Emery St	0.48mi	3/1.5 (-1)	1,419 (+2%)	7mo	$175,530	$124	62
420 N 6th St	0.50mi	3/2.0 (-1)	1,478 (+6%)	1mo	$155,000	$105	57
514 Academy St	0.50mi	3/1.5 (-1)	1,209 (-13%)	4mo	$136,500	$113	44

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: $72,743
• Equity at exit: $27,057

10-year hold

• IRR: —
• Equity multiple: 15.92×
• Total profit: $167,134
• 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: $1,530 medium
• Mortgage (P&I): −$210
• Tax est. 1.5%: −$50 /mo · $600/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $932

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: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
312 Utica St Fulton, NY	3.0	1.0	1060	$1,300	$1.23	13d	1	0.47mi
303 S 5th St Fulton, NY	4.0	1.5	1800	$1,850	$1.03	13d	1	0.63mi
262 W 4th St S Unit 1 Fulton, NY	3.0	1.0	1316	$1,500	$1.14	43d	1	1.21mi

Listing history 15 events

1. 2026-06-07
   statusdays on market $40,000 Pending 22 DOM
2. 2026-06-02
   days on market $40,000 Active 21 DOM
3. 2026-06-01
   days on market $40,000 Active 20 DOM
4. 2026-05-31
   days on market $40,000 Active 19 DOM
5. 2026-05-30
   days on market $40,000 Active 18 DOM
6. 2026-05-12
   listed $40,000 Active 338-char remark
7. 2019-11-12
   soldstatus $36,000 Closed Sale or Rented 196-char remark

   Show marketing remark (196 chars)

   CUTE CAPE COD STYLE HOME THAT IS AN AFFORDABLE PLACE TO START! COUNTRY KITCHEN, HARDWOOD FLOORING. .. 2 BEDROOMS ON THE 1ST LEVEL AND TWO UPSTAIRS!! QUIET AREA AND A NICE YARD TO RAISE CHILDREN!

8. 2019-11-01
   status Pending Sale 196-char remark

   Show marketing remark (196 chars)

   CUTE CAPE COD STYLE HOME THAT IS AN AFFORDABLE PLACE TO START! COUNTRY KITCHEN, HARDWOOD FLOORING. .. 2 BEDROOMS ON THE 1ST LEVEL AND TWO UPSTAIRS!! QUIET AREA AND A NICE YARD TO RAISE CHILDREN!

9. 2019-09-25
   historical Continue to Show- Under Contract 196-char remark

   Show marketing remark (196 chars)

   CUTE CAPE COD STYLE HOME THAT IS AN AFFORDABLE PLACE TO START! COUNTRY KITCHEN, HARDWOOD FLOORING. .. 2 BEDROOMS ON THE 1ST LEVEL AND TWO UPSTAIRS!! QUIET AREA AND A NICE YARD TO RAISE CHILDREN!

10. 2019-08-16
    price $47,500 196-char remark

    Show marketing remark (196 chars)

    CUTE CAPE COD STYLE HOME THAT IS AN AFFORDABLE PLACE TO START! COUNTRY KITCHEN, HARDWOOD FLOORING. .. 2 BEDROOMS ON THE 1ST LEVEL AND TWO UPSTAIRS!! QUIET AREA AND A NICE YARD TO RAISE CHILDREN!

11. 2019-08-05
    price $50,900 196-char remark

    Show marketing remark (196 chars)

    CUTE CAPE COD STYLE HOME THAT IS AN AFFORDABLE PLACE TO START! COUNTRY KITCHEN, HARDWOOD FLOORING. .. 2 BEDROOMS ON THE 1ST LEVEL AND TWO UPSTAIRS!! QUIET AREA AND A NICE YARD TO RAISE CHILDREN!

12. 2019-07-24
    price $52,900 196-char remark

    Show marketing remark (196 chars)

    CUTE CAPE COD STYLE HOME THAT IS AN AFFORDABLE PLACE TO START! COUNTRY KITCHEN, HARDWOOD FLOORING. .. 2 BEDROOMS ON THE 1ST LEVEL AND TWO UPSTAIRS!! QUIET AREA AND A NICE YARD TO RAISE CHILDREN!

13. 2019-06-18
    listed $54,900 Active 196-char remark

    Show marketing remark (196 chars)

    CUTE CAPE COD STYLE HOME THAT IS AN AFFORDABLE PLACE TO START! COUNTRY KITCHEN, HARDWOOD FLOORING. .. 2 BEDROOMS ON THE 1ST LEVEL AND TWO UPSTAIRS!! QUIET AREA AND A NICE YARD TO RAISE CHILDREN!

14. 2006-01-17
    soldstatus $55,000
15. 1999-05-13
    soldstatus $48,000

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥95°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: $18,359
• − Mortgage interest: −$2,241
• − Property taxes: −$600
• − Insurance: −$200
• − Repairs & maintenance: −$1,469
• − Management: −$1,469
• − Depreciation: −$1,164
• Taxable income: $11,218
• Est. tax owed @ 24.0%: −$2,692
• After-tax cash flow: $8,495/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: 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

• Census place: Fulton, NY
• 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

-16.7% since first listed

11 events — show timeline

• 2026-06-03 Pending — CNYIS
• 2026-05-12 Listed $40,000 CNYIS
• 2019-11-12 Sold (MLS) $36,000 CNYIS
• 2019-11-01 Pending — CNYIS
• 2019-09-25 Contingent — CNYIS
• 2019-08-16 Price Changed $47,500 CNYIS
• 2019-08-05 Price Changed $50,900 CNYIS
• 2019-07-24 Price Changed $52,900 CNYIS
• 2019-06-18 Listed $54,900 CNYIS
• 2006-01-17 Sold (Public Records) $55,000 Public Records
• 1999-05-13 Sold (Public Records) $48,000 Public Records

Property tax history

+2.5%/yr

Latest (2025): $4,289 · +7.5% YoY. Source: county tax records.