196 Slate Rd · Candor, NY 13743

$45,000

2 bd · 1.0 ba · 728 sqft · Manufactured public records · 38 Days on market

Built 1986 0.86 ac lot

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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 +8.1/10.0
• ARV discount +7.5/15.0
• Schools +3.1/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Here is an opportunity to own almost an acre of land with septic, well, driveway and a manufactured home in need of renovations. The single wide home has a separate large ideal area for storage which leads into the entrance of the house. This is a 2 bedroom, 1 bath with a 2017 furnace in place. There is damage to ceiling in living room area plus debris throughout the house. The property is selling as is. A detached garage plus a shed provides additional space for storage. Whether you choose to renovate or place a new home, the land provides a nice private setting. Great location on a quiet road yet close to Route 96 in Candor, making it an easy commute South toward Owego or to Ithaca.

Key facts

• Quiet road
• Detached garage
• 0.86 acre lot

Tags

• ALMOST AN ACRE OF LAND
• DETACHED GARAGE
• QUIET ROAD

Property features AI

Exterior

• Parking: Detached garage; Driveway; One garage space
• Utilities: Well water; Septic tank; Circuit breaker electrical
• Home design: Manufactured on land (single-wide); One-level / single-story
• Construction: Aluminum siding; Other/see remarks foundation
• Exterior features: Rectangular lot; Pool: above-ground, outdoor

Interior

• Kitchen: Gas oven; Gas range; Electric water heater
• Bedrooms: Two main-level bedrooms
• Flooring: Carpet; Vinyl; Varies
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Propane forced air heating
• Interior features: Storage; Five total rooms; No basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $45k.

Deal economics

• At list price, monthly cash flow is $290 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($871 rent vs $45k).
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#895 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety D, crime F, amenities F.
• Candor Central School District (rural): math 26% / reading 45% proficiency, ranked #551 of 590 in NY (top 93%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Candor Elementary School (math 17% / reading 42%, grade F, #1,729 of 2,108 statewide, top 84%, 400 students, 46% FRL).
• Market conditions: 21 active listings in the ZIP; 139 units permitted in Tioga County in 2024 (65 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($311 loan paydown + $3k appreciation (6.3% local appreciation)).
• Tioga County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.3% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $5k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price.

Recommended offer $43,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.94% ✓
• Cap rate: 14.03%
• Cash-on-cash: 27.63%
• DSCR: 2.23
• GRM: 4.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.26% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 39.2%
• Equity multiple: 3.56×
• Total profit: $32,235
• Equity at exit: $29,035

10-year hold

• IRR: 36.3%
• Equity multiple: 7.37×
• Total profit: $80,310
• Equity at exit: $53,310

Cash invested: $12,600 (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 13743

• Home prices YoY: 2.5%
• Active inventory: 21
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $871 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$143 /mo · $1,720/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$183
• Net cashflow: $290

Break-even live

Break-even rent $504

Max offer price $45,000

Occupancy floor 62%

Sensitivity live

Price	-10% $316	-5% $303	+0% $290	+5% $277	+10% $265
Rent	-10% $221	-5% $256	+0% $290	+5% $324	+10% $359
Rate	-1.0pp $313	-0.5pp $302	base $290	+0.5pp $278	+1.0pp $267

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $45,000 Active 38 DOM
2. 2026-06-18
   days on market $45,000 Active 37 DOM
3. 2026-06-17
   days on market $45,000 Active 36 DOM
4. 2026-06-16
   days on market $45,000 Active 35 DOM
5. 2026-06-15
   days on market $45,000 Active 34 DOM
6. 2026-06-14
   days on market $45,000 Active 32 DOM
7. 2026-06-13
   days on market $45,000 Active 31 DOM
8. 2026-06-10
   days on market $45,000 Active 29 DOM
9. 2026-06-09
   days on market $45,000 Active 28 DOM
10. 2026-06-08
    days on market $45,000 Active 27 DOM
11. 2026-06-07
    days on market $45,000 Active 26 DOM
12. 2026-06-03
    pricedays on market $45,000 Active 22 DOM
13. 2026-06-02
    days on market $49,999 Active 21 DOM
14. 2026-06-01
    days on market $49,999 Active 20 DOM
15. 2026-05-31
    days on market $49,999 Active 19 DOM
16. 2026-05-30
    days on market $49,999 Active 18 DOM
17. 2026-05-12
    listed $49,999 Active 693-char remark
18. 2026-04-19
    price $49,999
19. 2026-02-25
    price $52,999
20. 2025-12-02
    listed $59,900 Active
21. 2011-11-15
    soldstatus $40,000

ⓘ 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: $1,720 · $143/mo
• Projected year-2 tax: $1,720 · $143/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 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 15 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: $10,453
• − Mortgage interest: −$2,521
• − Property taxes: −$1,720
• − Insurance: −$225
• − Repairs & maintenance: −$836
• − Management: −$836
• − Depreciation: −$1,309
• Taxable income: $3,006
• Est. tax owed @ 24.0%: −$721
• After-tax cash flow: $2,760/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: Candor Central School District
• NCES district ID: 3606420
• Math proficiency: 26% ▼ -10.00%
• Reading proficiency: 45% ▲ 17.00%
• Median HH income: $51,707
• Composite: 30.85/100
• National rank: #6129
• State rank: #551 of 590 in NY

Livability — Candor

• Score: 61/100
• State rank: #895
• US rank: #17419

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,893

Population outlook (Tioga County) Hauer SSP2

• Today (2025): 45,155 people
• By 2030: 42,801 · -5.2%
• By 2040: 37,960 · -15.9%
• By 2050: 33,071 · -26.8%
• By 2075: 24,144 · -46.5%
• By 2100: 16,545 · -63.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 4%
• Common ancestry: Romanian 4% Italian 2% Iranian 2%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · German/W. Germanic 4%

Political lean MEDSL · Tioga

• 2024 margin: Strong R (+22.9) · D 38.6% · R 61.4%
• 2008→2024 swing: -12.7pp toward R · 2008: -10.2pp · 2024: -22.9pp
• All cycles: 2024: R+22.9 2020: R+20.6 2016: R+27.6 2012: R+15.1 2008: R+10.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.26%
• Current HPI: 261.1296
• 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

+12.5% since first listed

6 events — show timeline

• 2026-06-03 Price Changed $45,000 IBRMLS
• 2026-05-12 Listed $49,999 IBRMLS
• 2026-04-19 Price Changed $49,999 IBRMLS
• 2026-02-25 Price Changed $52,999 IBRMLS
• 2025-12-02 Listed $59,900 IBRMLS
• 2011-11-15 Sold (Public Records) $40,000 Public Records

Property tax history

+6.5%/yr

Latest (2025): $1,720 · +1.8% YoY. Source: county tax records.