104 Jordan Ave Ave · Northwest Ithaca, NY 14850

$107,000

2 bd · 2.0 ba · 1,203 sqft · Manufactured · 35 Days on market

Built 2009 Est $150k · 29% under ↓ 10% since listing

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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
• Schools +5.4/10.0
• Rent growth +3.8/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Wonderful Ritzcraft Nantucket home in Collegeview North Park! This low-maintenance, easy-living home offers distant views from its raised, thoughtfully landscaped lot. Inside, you'll find a well-designed layout with a centrally located kitchen, open-concept living areas, and a great back deck, creating a warm atmosphere for entertaining or relaxing. This home has sheetrocked walls throughout, adding a polished feel. The main bedroom is a serene retreat, with a spacious en-suite bath and a huge walk-in closet. The second bedroom offers a large closet, great light, and a full bath across the hall. There is also a 20x20 garage for extra storage and weather-free parking. Schedule your private

Key facts

• Garage
• Built 2009
• Listed 35 days

Property features AI

Finance

• HOA & community: Land lease: $545

Exterior

• Parking: Detached garage with workshop and storage; Garage door opener; Driveway; Gravel parking areas; One garage space
• Utilities: Well water; Septic tank; Propane available; Electricity connected; Cable available
• Home design: Manufactured double-wide home; One-level / single-story; RitzCraft model
• Construction: Vinyl siding; Asphalt roof; Built as a manufactured (RitzCraft) home
• Exterior features: Deck; Sliding doors; Irregular lot (see remarks); Public maintained road frontage on a city street

Interior

• Kitchen: Gas oven and gas range; Refrigerator; Eat-in kitchen layout
• Bedrooms: Two main-level bedrooms
• Flooring: Carpet; Vinyl; Varies
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Propane forced-air heating
• Interior features: Breakfast bar; Eat-in kitchen; Pantry; Skylight(s)
• Laundry & utility: Washer and dryer; Laundry room on the main level; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $107k.

Deal economics

• At list price, monthly cash flow is $905 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $107k).
• Recommended offer: $104k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#488 in NY) — a middle-class / working-renter tenant base. Strengths: health & safety A+, crime A, employment A; Watch: amenities F, commute F.
• Ithaca City School District (urban): math 57% / reading 71% proficiency, ranked #195 of 590 in NY (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Enfield School (math 10% / reading 30%, grade F, #1,945 of 2,108 statewide, top 94%, 164 students, 65% FRL) — zoned schools average 65% FRL vs 30% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 20% at this address vs 64% district-wide (-44 pts) — the specific schools serving this property underperform the Ithaca City School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+5.2%/yr); 327 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 382 units permitted in Tompkins County in 2024 (208 in 5+ unit buildings).
• This rent runs 34% of the median local income ($71k/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 $740 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Tompkins County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 5.2% rent growth), your $30k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($104k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $12k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $103,790 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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: 1.91% ✓
• Cap rate: 16.44%
• Cash-on-cash: 36.25%
• DSCR: 2.61
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $150,375
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
104 Jordan Ave Ave	0.00mi	2/2.0	1,203 (0%)	1mo	$100,000	$83	99
182 Brianna Dr	0.10mi	3/2.0 (+1)	1,102 (-8%)	1mo	$137,900	$125	76

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

Projected returns pro-forma

-3.0% appreciation · 5.22% rent growth · sell at horizon

5-year hold

• IRR: 34.5%
• Equity multiple: 2.50×
• Total profit: $44,990
• Equity at exit: $15,954

10-year hold

• IRR: 42.5%
• Equity multiple: 5.46×
• Total profit: $133,530
• Equity at exit: $9,251

Cash invested: $29,960 (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 14850

• Rents YoY: 5.2%
• Active inventory: 327
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $2,048 medium
• Mortgage (P&I): −$561
• Tax from tax record: −$107 /mo · $1,282/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $905

Break-even live

Break-even rent $902

Max offer price $107,000

Occupancy floor 51%

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: $26,750
• Closing costs: $3,210
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5 Maxs Dr Ithaca, NY	2.0	2.0	1488	$2,700	$1.81	44d	1	1.22mi

Listing history 6 events

1. 2026-05-06
   status Pending
2. 2026-05-01
   historical Active Under Contract
3. 2026-04-20
   price $107,000
4. 2026-04-15
   status Active
5. 2026-04-13
   historical Active Under Contract
6. 2026-04-01
   listed $119,000 Active

ⓘ 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: $1,282 · $107/mo
• Projected year-2 tax: $1,545 · $129/mo
• Expected delta: +$263/yr (+$22/mo · 20.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 5 d/yr ≥96°F today · 11 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,570
• − Mortgage interest: −$5,994
• − Property taxes: −$1,282
• − Insurance: −$535
• − Repairs & maintenance: −$1,966
• − Management: −$1,966
• − Depreciation: −$3,113
• Taxable income: $9,715
• Est. tax owed @ 24.0%: −$2,332
• After-tax cash flow: $8,528/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: Ithaca City School District
• NCES district ID: 3615570
• Math proficiency: 57% ▼ -5.00%
• Reading proficiency: 71% ▲ 11.00%
• Median HH income: $46,528
• Composite: 54.01/100
• National rank: #1397
• State rank: #195 of 590 in NY

Livability — Northwest Ithaca

• Score: 69/100
• State rank: #488
• US rank: #8598

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Tompkins County · 68,610 people
• Metro: Ithaca, NY
• Population (ZIP): 68,610
• Household income: $71,445
• Rent vs Own: 55.2% rent · 44.8% own
• Severe rent burden: 5169.0

Population outlook (Tompkins County) Hauer SSP2

• Today (2025): 113,958 people
• By 2030: 118,774 · +4.2%
• By 2040: 125,927 · +10.5%
• By 2050: 133,599 · +17.2%
• By 2075: 156,759 · +37.6%
• By 2100: 169,896 · +49.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Asian 13% Hispanic / Latino 8% Two or more races 8% Black 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Romanian 3% Italian 3% Scotch-Irish 2%
• Foreign-born: 18% · China, Canada, South Korea
• Languages at home: 79% English-only · Chinese 5% Spanish 4% Other Indo-European 4%

Political lean MEDSL · Tompkins

• 2024 margin: Solid D (+50.6) · D 75.3% · R 24.7%
• 2008→2024 swing: +8.6pp toward D · 2008: 42.1pp · 2024: 50.6pp
• All cycles: 2024: D+50.6 2020: D+49.2 2016: D+42.1 2012: D+39.8 2008: D+42.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -276.59%
• Current HPI: 389.7215
• Rent YoY: ▲ 5.22%
• Metro: Ithaca, 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

-10.1% since first listed

6 events — show timeline

• 2026-05-06 Pending — IBRMLS
• 2026-05-01 Contingent — IBRMLS
• 2026-04-20 Price Changed $107,000 IBRMLS
• 2026-04-15 Relisted — IBRMLS
• 2026-04-13 Contingent — IBRMLS
• 2026-04-01 Listed $119,000 IBRMLS

Property tax history

+19.6%/yr

Latest (2016): $1,282 · +182.4% YoY. Source: county tax records.