55 Hubbard St · Cortland, NY 13045

$95,000

4 bd · 2.0 ba · 2,126 sqft · Townhouse public records · 80 Days on market

Built 1890 8,013 sqft lot $45/sqft · 33% below area Est $141k · 33% under

---

Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

This upper/lower two-unit is located on a quiet residential street with a large back yard. First floor unit has a large dining room, living room, kitchen, bath and two bedrooms (one is small). It also has a back porch. Upstairs has a large dining room, living room, kitchen, bathroom, back porch and a bedroom on the second floor and an additional three rooms in the attic. Home needs a new roof and has deferred maintenance. There is a full basement with a laundry hook-up and separate utilities. Don't miss this investment opportunity to fix and rent or fix and flip. Priced to sell at $95,000.

Key facts

• Separate utilities
• Full basement
• Large back yard

Tags

• LARGE BACK YARD
• BACK PORCH
• FULL BASEMENT
• LAUNDRY HOOK-UP
• SEPARATE UTILITIES

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath townhouse listed at $95k.

Deal economics

• At list price, monthly cash flow is $600 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $89k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.6% 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; 2 comparable units currently listed for rent nearby; 45 units permitted in Cortland County in 2024 (12 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k 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 $27k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 21y ago; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $76k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $89,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.75% ✓
• Cap rate: 14.57%
• Cash-on-cash: 29.55%
• DSCR: 2.31
• GRM: 4.8

CMA / ARV

• ARV (median comp): $141,177
• List price: $95,000
• Delta: -32.71%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 26.8%
• Equity multiple: 2.19×
• Total profit: $31,625
• Equity at exit: $14,165

10-year hold

• IRR: 37.4%
• Equity multiple: 5.39×
• Total profit: $116,885
• Equity at exit: $8,214

Cash invested: $26,600 (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: 4.8×

Monthly cashflow live

• Estimated rent: $1,660 medium
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,425/yr
• Insurance: −$40
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $600

Break-even live

Break-even rent $901

Max offer price $95,000

Occupancy floor 59%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16 Pendleton St #1 Cortland, NY	3.0	1.0	2000	$1,400	$0.70	43d	1	0.24mi
3 Morningside Dr Cortland, NY	3.0	1.5	1464	$2,150	$1.47	43d	1	0.97mi

Listing history 22 events

1. 2026-06-19
   days on market $95,000 Active 80 DOM
2. 2026-06-18
   days on market $95,000 Active 79 DOM
3. 2026-06-17
   days on market $95,000 Active 78 DOM
4. 2026-06-16
   days on market $95,000 Active 77 DOM
5. 2026-06-15
   days on market $95,000 Active 76 DOM
6. 2026-06-14
   days on market $95,000 Active 74 DOM
7. 2026-06-12
   days on market $95,000 Active 73 DOM
8. 2026-06-09
   days on market $95,000 Active 70 DOM
9. 2026-06-08
   days on market $95,000 Active 69 DOM
10. 2026-06-07
    days on market $95,000 Active 68 DOM
11. 2026-06-05
    days on market $95,000 Active 65 DOM
12. 2026-06-03
    days on market $95,000 Active 64 DOM
13. 2026-06-02
    days on market $95,000 Active 63 DOM
14. 2026-06-01
    days on market $95,000 Active 62 DOM
15. 2026-05-31
    days on market $95,000 Active 61 DOM
16. 2026-05-30
    days on market $95,000 Active 60 DOM
17. 2026-05-08
    price $95,000 596-char remark

    Show marketing remark (596 chars)

    This upper/lower two-unit is located on a quiet residential street with a large back yard. First floor unit has a large dining room, living room, kitchen, bath and two bedrooms (one is small). It also has a back porch. Upstairs has a large dining room, living room, kitchen, bathroom, back porch and a bedroom on the second floor and an additional three rooms in the attic. Home needs a new roof and has deferred maintenance. There is a full basement with a laundry hook-up and separate utilities. Don't miss this investment opportunity to fix and rent or fix and flip. Priced to sell at $95,000.

18. 2026-03-28
    listed $100,000 Active 596-char remark

    Show marketing remark (596 chars)

    This upper/lower two-unit is located on a quiet residential street with a large back yard. First floor unit has a large dining room, living room, kitchen, bath and two bedrooms (one is small). It also has a back porch. Upstairs has a large dining room, living room, kitchen, bathroom, back porch and a bedroom on the second floor and an additional three rooms in the attic. Home needs a new roof and has deferred maintenance. There is a full basement with a laundry hook-up and separate utilities. Don't miss this investment opportunity to fix and rent or fix and flip. Priced to sell at $95,000.

19. 2006-01-03
    soldstatus $75,500 145-char remark

    Show marketing remark (145 chars)

    Large 2 family great for investment. All remodeled. New hot water heaters. Washer/dryer hook/ups inbasement and walk up attic. Fenced back yard.

20. 2006-01-03
    soldstatus $75,500

    Show marketing remark (145 chars)

    Large 2 family great for investment. All remodeled. New hot water heaters. Washer/dryer hook/ups inbasement and walk up attic. Fenced back yard.

21. 2005-06-30
    listed $79,900 145-char remark

    Show marketing remark (145 chars)

    Large 2 family great for investment. All remodeled. New hot water heaters. Washer/dryer hook/ups inbasement and walk up attic. Fenced back yard.

22. 2002-07-17
    soldstatus $29,900

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥92°F today · 18 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: $19,923
• − Mortgage interest: −$5,321
• − Property taxes: −$1,425
• − Insurance: −$1,142
• − Repairs & maintenance: −$1,594
• − Management: −$1,594
• − Depreciation: −$2,764
• Taxable income: $6,084
• Est. tax owed @ 24.0%: −$1,460
• After-tax cash flow: $5,735/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

+217.7% since first listed

6 events — show timeline

• 2026-05-08 Price Changed $95,000 CNYIS
• 2026-03-28 Listed $100,000 CNYIS
• 2006-01-03 Sold (Public Records) $75,500 Public Records
• 2006-01-03 Sold (MLS) $75,500 IBRMLS
• 2005-06-30 Listed $79,900 IBRMLS
• 2002-07-17 Sold (Public Records) $29,900 Public Records

Property tax history

+2.8%/yr

Latest (2025): $5,057 · +0.4% YoY. Source: county tax records.