66 Lincoln Ave · Cortland, NY 13045

$169,000

4 bd · 1.0 ba · 1,923 sqft · SingleFamily public records · 35 Days on market

Built 1900 8,141 sqft lot Est $219k · 23% under

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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 +25.8/30.0
• ARV discount +15.0/15.0
• 1% rule +8.6/10.0
• DSCR +8.6/10.0
• 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

Spacious home with 3 bedrooms up. 2 bedrooms have adjoining rooms. This flexible floor plan may allow for a suite up. Updated kitchen with appliances, formal dining and first floor laundry. Large living room opens to den. Quick walk to SUNY Cortland campus.

Key facts

• First floor laundry
• Updated kitchen
• 8,141 sq ft lot

Tags

• UPDATED KITCHEN
• FIRST FLOOR LAUNDRY
• IN-UNIT WASHER AND DRYER
• TURNKEY INVESTMENT OPPORTUNITY

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $169k.

Deal economics

• At list price, monthly cash flow is $412 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $169k).
• Recommended offer: $164k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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-, employment D, commute F.
• 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.
• Zoned schools: Cortland High School (math 92% / reading 92%, grade A+, #171 of 1,100 statewide, top 18%, 596 students, 42% FRL) — zoned schools at 42% FRL track the district average.
• Zoned-school proficiency averages 92% at this address vs 52% district-wide (+40 pts) — the actual schools serving this property are materially stronger than the Cortland City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+8.4%/yr); 142 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $1k of loan paydown is wiped out by about $5k 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 $47k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y 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.
• Current owner paid $115k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $163,930 (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. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.36% ✓
• Cap rate: 9.22%
• Cash-on-cash: 10.44%
• DSCR: 1.46
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $219,222
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3389 Maple Ave	0.15mi	4/1.0	1,826 (-5%)	10mo	$148,234	$81	76
63 Floral Ave	0.41mi	3/2.0 (-1)	1,865 (-3%)	7mo	$212,000	$114	61
105 Maple Ave	0.14mi	5/2.0 (+1)	1,678 (-13%)	3mo	$165,000	$98	61
81 Greenbush St	0.75mi	4/2.0	1,950 (+1%)	3mo	$172,500	$88	56
12 Pearne Ave	0.50mi	3/1.5 (-1)	1,768 (-8%)	3mo	$196,000	$111	54
15 Banks St	0.65mi	3/1.5 (-1)	1,784 (-7%)	1mo	$250,000	$140	50
45 Evergreen St	0.58mi	3/1.5 (-1)	1,824 (-5%)	9mo	$215,000	$118	50
2 Bellrose Ave	0.38mi	3/2.0 (-1)	1,746 (-9%)	12mo	$190,000	$109	48
12 Ellwood Ave	0.54mi	3/1.5 (-1)	1,740 (-10%)	7mo	$221,325	$127	46
39 Evergreen St	0.57mi	4/1.5	1,660 (-14%)	3mo	$205,000	$123	46
78 S Greenbush St	0.71mi	5/1.5 (+1)	1,764 (-8%)	10mo	$180,000	$102	37
8 Bellevue Ave	0.74mi	4/2.5	2,200 (+14%)	12mo	$315,000	$143	26

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 5.7%
• Equity multiple: 1.24×
• Total profit: $11,137
• Equity at exit: $25,198

10-year hold

• IRR: 19.7%
• Equity multiple: 3.10×
• Total profit: $99,331
• Equity at exit: $14,612

Cash invested: $47,320 (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: 142
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,292 medium
• Mortgage (P&I): −$886
• Tax from tax record: −$442 /mo · $5,309/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$481
• Net cashflow: $412

Break-even live

Break-even rent $1,771

Max offer price $169,000

Occupancy floor 77%

Sensitivity live

Price	-10% $508	-5% $460	+0% $412	+5% $364	+10% $316
Rent	-10% $231	-5% $321	+0% $412	+5% $502	+10% $593
Rate	-1.0pp $497	-0.5pp $455	base $412	+0.5pp $368	+1.0pp $324

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
31 James St Cortland, NY	3.0	1.5	1319	$3,600	$2.73	46d	1	0.40mi
16 Pendleton St #1 Cortland, NY	3.0	1.0	2000	$1,400	$0.70	46d	1	0.74mi
24 Kellogg Rd Cortland, NY	1.0–3.0	1.0–1.5	1070	$1,405	$1.31	46d	1	1.41mi

Listing history 14 events

1. 2026-03-23
   status Pending
2. 2026-03-10
   historical Active Under Contract
3. 2026-02-16
   listed $169,000 Active
4. 2025-01-14
   historical $1,300
5. 2024-12-31
   listed $1,300
6. 2021-04-28
   soldstatus $115,000
7. 2021-04-23
   soldstatus $115,000
8. 2021-02-05
   listed $110,000
9. 2017-03-17
   soldstatus $75,000 257-char remark

   Show marketing remark (257 chars)

   Spacious home with 3 bedrooms up. 2 bedrooms have adjoining rooms. This flexible floor plan may allow for a suite up. Updated kitchen with appliances, formal dining and first floor laundry. Large living room opens to den. Quick walk to SUNY Cortland campus.

10. 2017-03-17
    soldstatus $75,000

    Show marketing remark (257 chars)

    Spacious home with 3 bedrooms up. 2 bedrooms have adjoining rooms. This flexible floor plan may allow for a suite up. Updated kitchen with appliances, formal dining and first floor laundry. Large living room opens to den. Quick walk to SUNY Cortland campus.

11. 2016-12-13
    listed $84,900 257-char remark

    Show marketing remark (257 chars)

    Spacious home with 3 bedrooms up. 2 bedrooms have adjoining rooms. This flexible floor plan may allow for a suite up. Updated kitchen with appliances, formal dining and first floor laundry. Large living room opens to den. Quick walk to SUNY Cortland campus.

12. 2016-08-14
    historical
13. 2015-08-14
    listed $84,900
14. 2005-09-22
    soldstatus $71,000

ⓘ 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: $5,309 · $442/mo
• Projected year-2 tax: $5,309 · $442/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

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: $27,508
• − Mortgage interest: −$9,467
• − Property taxes: −$5,309
• − Insurance: −$845
• − Repairs & maintenance: −$2,201
• − Management: −$2,201
• − Depreciation: −$4,916
• Taxable income: $2,570
• Est. tax owed @ 24.0%: −$617
• After-tax cash flow: $4,326/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

+138.0% since first listed

14 events — show timeline

• 2026-03-23 Pending — CNYIS
• 2026-03-10 Contingent — CNYIS
• 2026-02-16 Listed $169,000 CNYIS
• 2025-01-14 Rental Removed $1,300 NYSAMLS
• 2024-12-31 Listed for Rent $1,300 NYSAMLS
• 2021-04-28 Sold (Public Records) $115,000 Public Records
• 2021-04-23 Sold (MLS) $115,000 CNYIS
• 2021-02-05 Listed $110,000 CNYIS
• 2017-03-17 Sold (Public Records) $75,000 Public Records
• 2017-03-17 Sold (MLS) $75,000 CNYIS
• 2016-12-13 Listed $84,900 CNYIS
• 2016-08-14 Listing Removed — CNYIS
• 2015-08-14 Listed $84,900 CNYIS
• 2005-09-22 Sold (Public Records) $71,000 Public Records

Property tax history

+6.4%/yr

Latest (2025): $5,309 · +4.1% YoY. Source: county tax records.