120 E South St · Groton, NY 13073

$149,900

3 bd · 1.0 ba · 1,120 sqft · SingleFamily public records · 136 Days on market

Built 1940 0.25 ac lot $134/sqft · 26% below area Est $203k · 26% under ↓ 13% since listing

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +8.1/30.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• 1% rule +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this classic Groton Village home, filled with 1940s character and ready for its next chapter. A welcoming covered front porch enters into the main living room highlighted by the mission-style wood staircase, decorative wood ceiling beams and hardwood floors. A formal dining room also with hardwood floors convenient to both kitchen and living room. Country kitchen with back porch and ample cabinet space, newer refrigerator and dishwasher. Upstairs, you’ll find 3 bedrooms and a full bath arranged around a comfortable landing. The primary bedroom includes wood floors and good closet space, continuing the home’s classic appeal. Downstairs, the full basement provides a laundry nook, workshop area, plenty of storage, and a walk-out to one of the home’s true highlights: a deep backyard that stretches to a year-round stream along the southern boundary. Whether you’re dreaming of gardens, outdoor entertaining, or simply enjoying the peaceful setting, this yard offers room to explore with endless potential. A sunny south-side deck adds even more space to relax or plant your favorite blooms. Attached 1-car carport provides covered parking plus another parking space. Convenient to all Village amenities including Dunkin, restaurants, Village park & schools. Short commute to both Ithaca & Cornell University as well as East and North to Cortland/Syracuse. Low Village electric rates a plus too. Lovingly owned by the same family since 1967, this home is full of charm, opportunity, and potential for thoughtful updates. Come see what makes it so special and imagine the possibilities.

Key facts

• Covered front porch
• Country kitchen
• Ample cabinet space

Tags

• COVERED FRONT PORCH
• MISSION-STYLE WOOD STAIRCASE
• DECORATIVE WOOD CEILING BEAMS
• HARDWOOD FLOORS
• COUNTRY KITCHEN
• AMPLE CABINET SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $-147 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $124k (17.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (14.8% below list).
• Recommended offer: $124k (17.3% below list) — sets the bar for cash-flow.
• Cap rate 5.1% vs local median 3.2% in Groton — 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 71/100 on livability (#418 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: schools D+, amenities F, commute F.
• Groton Central School District (rural): math 53% / reading 46% proficiency, ranked #381 of 590 in NY (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 36 active listings in the ZIP; 382 units permitted in Tompkins County in 2024 (208 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 $4k 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.

Negotiation context

• It's been on market 136 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $40k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,976 (17.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 136 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.85% ✗
• Cap rate: 5.12%
• Cash-on-cash: -4.20%
• DSCR: 0.81
• GRM: 9.8

CMA / ARV

• ARV (median comp): $202,959
• List price: $149,900
• Delta: -26.14%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
115 Morton Ave	0.31mi	3/1.5	1,162 (+4%)	10mo	$155,000	$133	69
309 W South St. St	0.32mi	3/1.0	1,215 (+8%)	17mo	$198,000	$163	57
201 S Parkway St	0.51mi	3/2.0	1,188 (+6%)	8mo	$234,800	$198	56
105 S Parkway	0.54mi	2/1.0 (-1)	1,021 (-9%)	4mo	$180,000	$176	52

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -23.3%
• Equity multiple: 0.20×
• Total profit: $-33,544
• Equity at exit: $22,351

10-year hold

• IRR: -17.8%
• Equity multiple: 0.03×
• Total profit: $-40,868
• Equity at exit: $12,961

Cash invested: $41,972 (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 13073

• Home prices YoY: -17.8%
• Active inventory: 36
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,277 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$307 /mo · $3,684/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $-147

Break-even live

Break-even rent $1,463

Max offer price $123,976

Occupancy floor —

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $149,900 Active 136 DOM
2. 2026-06-18
   days on market $149,900 Active 135 DOM
3. 2026-06-17
   days on market $149,900 Active 134 DOM
4. 2026-06-16
   days on market $149,900 Active 133 DOM
5. 2026-06-15
   days on market $149,900 Active 132 DOM
6. 2026-06-14
   days on market $149,900 Active 130 DOM
7. 2026-06-12
   days on market $149,900 Active 129 DOM
8. 2026-06-09
   days on market $149,900 Active 126 DOM
9. 2026-06-08
   days on market $149,900 Active 125 DOM
10. 2026-06-07
    days on market $149,900 Active 124 DOM
11. 2026-06-05
    days on market $149,900 Active 121 DOM
12. 2026-06-03
    days on market $149,900 Active 120 DOM
13. 2026-06-02
    days on market $149,900 Active 119 DOM
14. 2026-06-01
    days on market $149,900 Active 118 DOM
15. 2026-05-31
    days on market $149,900 Active 117 DOM
16. 2026-05-30
    days on market $149,900 Active 116 DOM
17. 2026-04-08
    price $165,000 1638-char remark

    Show marketing remark (1638 chars)

    Welcome to this classic Groton Village home, filled with 1940s character and ready for its next chapter. A welcoming covered front porch enters into the main living room highlighted by the mission-style wood staircase, decorative wood ceiling beams and hardwood floors. A formal dining room also with hardwood floors convenient to both kitchen and living room. Country kitchen with back porch and ample cabinet space, newer refrigerator and dishwasher. Upstairs, you’ll find 3 bedrooms and a full bath arranged around a comfortable landing. The primary bedroom includes wood floors and good closet space, continuing the home’s classic appeal. Downstairs, the full basement provides a laundry nook, workshop area, plenty of storage, and a walk-out to one of the home’s true highlights: a deep backyard that stretches to a year-round stream along the southern boundary. Whether you’re dreaming of gardens, outdoor entertaining, or simply enjoying the peaceful setting, this yard offers room to explore with endless potential. A sunny south-side deck adds even more space to relax or plant your favorite blooms. Attached 1-car carport provides covered parking plus another parking space. Convenient to all Village amenities including Dunkin, restaurants, Village park & schools. Short commute to both Ithaca & Cornell University as well as East and North to Cortland/Syracuse. Low Village electric rates a plus too. Lovingly owned by the same family since 1967, this home is full of charm, opportunity, and potential for thoughtful updates. Come see what makes it so special and imagine the possibilities.

18. 2026-03-12
    price $179,900 1638-char remark

    Show marketing remark (1638 chars)

    Welcome to this classic Groton Village home, filled with 1940s character and ready for its next chapter. A welcoming covered front porch enters into the main living room highlighted by the mission-style wood staircase, decorative wood ceiling beams and hardwood floors. A formal dining room also with hardwood floors convenient to both kitchen and living room. Country kitchen with back porch and ample cabinet space, newer refrigerator and dishwasher. Upstairs, you’ll find 3 bedrooms and a full bath arranged around a comfortable landing. The primary bedroom includes wood floors and good closet space, continuing the home’s classic appeal. Downstairs, the full basement provides a laundry nook, workshop area, plenty of storage, and a walk-out to one of the home’s true highlights: a deep backyard that stretches to a year-round stream along the southern boundary. Whether you’re dreaming of gardens, outdoor entertaining, or simply enjoying the peaceful setting, this yard offers room to explore with endless potential. A sunny south-side deck adds even more space to relax or plant your favorite blooms. Attached 1-car carport provides covered parking plus another parking space. Convenient to all Village amenities including Dunkin, restaurants, Village park & schools. Short commute to both Ithaca & Cornell University as well as East and North to Cortland/Syracuse. Low Village electric rates a plus too. Lovingly owned by the same family since 1967, this home is full of charm, opportunity, and potential for thoughtful updates. Come see what makes it so special and imagine the possibilities.

19. 2026-02-19
    status Active 1638-char remark

    Show marketing remark (1638 chars)

    Welcome to this classic Groton Village home, filled with 1940s character and ready for its next chapter. A welcoming covered front porch enters into the main living room highlighted by the mission-style wood staircase, decorative wood ceiling beams and hardwood floors. A formal dining room also with hardwood floors convenient to both kitchen and living room. Country kitchen with back porch and ample cabinet space, newer refrigerator and dishwasher. Upstairs, you’ll find 3 bedrooms and a full bath arranged around a comfortable landing. The primary bedroom includes wood floors and good closet space, continuing the home’s classic appeal. Downstairs, the full basement provides a laundry nook, workshop area, plenty of storage, and a walk-out to one of the home’s true highlights: a deep backyard that stretches to a year-round stream along the southern boundary. Whether you’re dreaming of gardens, outdoor entertaining, or simply enjoying the peaceful setting, this yard offers room to explore with endless potential. A sunny south-side deck adds even more space to relax or plant your favorite blooms. Attached 1-car carport provides covered parking plus another parking space. Convenient to all Village amenities including Dunkin, restaurants, Village park & schools. Short commute to both Ithaca & Cornell University as well as East and North to Cortland/Syracuse. Low Village electric rates a plus too. Lovingly owned by the same family since 1967, this home is full of charm, opportunity, and potential for thoughtful updates. Come see what makes it so special and imagine the possibilities.

20. 2026-02-10
    historical Active Under Contract 1638-char remark

    Show marketing remark (1638 chars)

    Welcome to this classic Groton Village home, filled with 1940s character and ready for its next chapter. A welcoming covered front porch enters into the main living room highlighted by the mission-style wood staircase, decorative wood ceiling beams and hardwood floors. A formal dining room also with hardwood floors convenient to both kitchen and living room. Country kitchen with back porch and ample cabinet space, newer refrigerator and dishwasher. Upstairs, you’ll find 3 bedrooms and a full bath arranged around a comfortable landing. The primary bedroom includes wood floors and good closet space, continuing the home’s classic appeal. Downstairs, the full basement provides a laundry nook, workshop area, plenty of storage, and a walk-out to one of the home’s true highlights: a deep backyard that stretches to a year-round stream along the southern boundary. Whether you’re dreaming of gardens, outdoor entertaining, or simply enjoying the peaceful setting, this yard offers room to explore with endless potential. A sunny south-side deck adds even more space to relax or plant your favorite blooms. Attached 1-car carport provides covered parking plus another parking space. Convenient to all Village amenities including Dunkin, restaurants, Village park & schools. Short commute to both Ithaca & Cornell University as well as East and North to Cortland/Syracuse. Low Village electric rates a plus too. Lovingly owned by the same family since 1967, this home is full of charm, opportunity, and potential for thoughtful updates. Come see what makes it so special and imagine the possibilities.

21. 2026-02-03
    listed $189,900 Active 1638-char remark

    Show marketing remark (1638 chars)

    Welcome to this classic Groton Village home, filled with 1940s character and ready for its next chapter. A welcoming covered front porch enters into the main living room highlighted by the mission-style wood staircase, decorative wood ceiling beams and hardwood floors. A formal dining room also with hardwood floors convenient to both kitchen and living room. Country kitchen with back porch and ample cabinet space, newer refrigerator and dishwasher. Upstairs, you’ll find 3 bedrooms and a full bath arranged around a comfortable landing. The primary bedroom includes wood floors and good closet space, continuing the home’s classic appeal. Downstairs, the full basement provides a laundry nook, workshop area, plenty of storage, and a walk-out to one of the home’s true highlights: a deep backyard that stretches to a year-round stream along the southern boundary. Whether you’re dreaming of gardens, outdoor entertaining, or simply enjoying the peaceful setting, this yard offers room to explore with endless potential. A sunny south-side deck adds even more space to relax or plant your favorite blooms. Attached 1-car carport provides covered parking plus another parking space. Convenient to all Village amenities including Dunkin, restaurants, Village park & schools. Short commute to both Ithaca & Cornell University as well as East and North to Cortland/Syracuse. Low Village electric rates a plus too. Lovingly owned by the same family since 1967, this home is full of charm, opportunity, and potential for thoughtful updates. Come see what makes it so special and imagine the possibilities.

ⓘ 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: $3,684 · $307/mo
• Projected year-2 tax: $3,684 · $307/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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 16 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: $15,324
• − Mortgage interest: −$8,397
• − Property taxes: −$3,684
• − Insurance: −$750
• − Repairs & maintenance: −$1,226
• − Management: −$1,226
• − Depreciation: −$4,361
• Taxable loss: −$4,319
• Est. tax savings @ 24.0%: +$1,037
• After-tax cash flow: $-724/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: Groton Central School District
• NCES district ID: 3613020
• Math proficiency: 53% ▲ 11.00%
• Reading proficiency: 46% ▲ 10.00%
• Median HH income: $54,573
• Composite: 42.84/100
• National rank: #3133
• State rank: #381 of 590 in NY

Livability — Groton

• Score: 71/100
• State rank: #418
• US rank: #7246

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Groton, NY
• Population (ZIP): 6,246

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 (88%)
• Race & ethnicity: White 88% Two or more races 9% Hispanic / Latino 3% Black 2%
• Common ancestry: Romanian 5% Lithuanian 5% Italian 2%
• Foreign-born: 4% · Canada, South Korea, Vietnam
• Languages at home: 94% English-only · Spanish 2% Arabic 2% Korean 1%

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: ▼ -41.49%
• Current HPI: 191.5334
• 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

-13.1% since first listed

5 events — show timeline

• 2026-04-08 Price Changed $165,000 IBRMLS
• 2026-03-12 Price Changed $179,900 IBRMLS
• 2026-02-19 Relisted — IBRMLS
• 2026-02-10 Contingent — IBRMLS
• 2026-02-03 Listed $189,900 IBRMLS

Property tax history

+0.1%/yr

Latest (2025): $3,684 · +6.7% YoY. Source: county tax records.