661 Peruville Rd · South Lansing, NY 13073

$103,000

3 bd · 3.0 ba · 1,782 sqft · Manufactured · 128 Days on market

Built 1992 Poor condition 4.11 ac lot ↓ 33% since listing

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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
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

This is a rare chance to secure a high-potential investment in a secluded setting. This 3-bedroom, 3-bathroom double-wide is a foreclosure priced for those looking to build instant equity through minor renovations. The unique floor plan features two distinct owner suites, making it a versatile choice for multi-generational households or premium rental opportunities. With two spacious living areas, an open-concept kitchen, and a detached two-car garage with an extra storage shed, the bones for a high-value property are all here. Outside, a private wrap-around deck offers quiet views, rounding out a property that promises a significant return for the right buyer.

Key facts

• Unique floor plan
• Open-concept kitchen
• 4.11 acre lot

Tags

• UNIQUE FLOOR PLAN
• TWO DISTINCT OWNER SUITES
• TWO SPACIOUS LIVING AREAS
• OPEN-CONCEPT KITCHEN
• PRIVATE WRAP-AROUND DECK
• DETACHED TWO-CAR GARAGE

Property features AI

Exterior

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Interior

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What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath manufactured listed at $103k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $407 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $103k).
• Recommended offer: $91k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.0% vs local median 2.2% in South Lansing — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• 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 $712 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 + 3.0% rent growth), your $29k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 128 days — a 12% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Recommended offer $90,640 (12.0% below list)

Questions for the listing agent

1. It's been on market 128 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.37% ✓
• Cap rate: 11.03%
• Cash-on-cash: 16.91%
• DSCR: 1.75
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 8.2%
• Equity multiple: 1.32×
• Total profit: $9,223
• Equity at exit: $15,358

10-year hold

• IRR: 17.4%
• Equity multiple: 2.44×
• Total profit: $41,457
• Equity at exit: $8,906

Cash invested: $28,840 (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: 6.1×

Monthly cashflow live

• Estimated rent: $1,416 medium
• Mortgage (P&I): −$540
• Tax est. 1.5%: −$129 /mo · $1,545/yr
• Insurance: −$43
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $407

Break-even live

Break-even rent $901

Max offer price $103,000

Occupancy floor 66%

Sensitivity live

Price	-10% $478	-5% $442	+0% $407	+5% $371	+10% $335
Rent	-10% $295	-5% $351	+0% $407	+5% $462	+10% $518
Rate	-1.0pp $458	-0.5pp $433	base $407	+0.5pp $380	+1.0pp $353

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: $25,750
• Closing costs: $3,090
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-21
   days on market $103,000 Active 128 DOM
2. 2026-06-19
   days on market $103,000 Active 126 DOM
3. 2026-06-18
   status $103,000 Active 125 DOM
4. 2026-06-18
   days on market $103,000 Active Under Contract 125 DOM
5. 2026-06-17
   days on market $103,000 Active Under Contract 124 DOM
6. 2026-06-16
   days on market $103,000 Active Under Contract 123 DOM
7. 2026-06-15
   days on market $103,000 Active Under Contract 122 DOM
8. 2026-06-14
   days on market $103,000 Active Under Contract 120 DOM
9. 2026-06-12
   days on market $103,000 Active Under Contract 119 DOM
10. 2026-06-09
    days on market $103,000 Active Under Contract 116 DOM
11. 2026-06-08
    days on market $103,000 Active Under Contract 115 DOM
12. 2026-06-07
    days on market $103,000 Active Under Contract 114 DOM
13. 2026-06-05
    days on market $103,000 Active Under Contract 111 DOM
14. 2026-06-03
    days on market $103,000 Active Under Contract 110 DOM
15. 2026-06-02
    days on market $103,000 Active Under Contract 109 DOM
16. 2026-06-01
    days on market $103,000 Active Under Contract 108 DOM
17. 2026-05-31
    days on market $103,000 Active Under Contract 107 DOM
18. 2026-05-30
    days on market $103,000 Active Under Contract 106 DOM
19. 2026-04-08
    historical Active Under Contract
20. 2026-02-13
    listed $103,000 Active
21. 2026-02-08
    historical
22. 2025-08-13
    listed $114,000 Active
23. 2025-07-18
    historical
24. 2025-03-17
    price $114,000
25. 2025-02-28
    listed $154,000 Active

ⓘ 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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 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: $16,987
• − Mortgage interest: −$5,770
• − Property taxes: −$1,545
• − Insurance: −$515
• − Repairs & maintenance: −$1,359
• − Management: −$1,359
• − Depreciation: −$2,996
• Taxable income: $3,443
• Est. tax owed @ 24.0%: −$826
• After-tax cash flow: $4,052/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.

Condition & rehab AI · 13 photos

Poor 20/100 Extensive rehab

This property requires extensive repairs and maintenance, including a new roof, exterior siding, deck, flooring, interior walls, and HVAC system. The home is currently in poor condition and would benefit from significant renovations to increase its resale and rental value.

Repairs flagged

• Major roof — The satellite image shows rust and wear on the metal roof, indicating a major repair is needed.
• Major exterior siding — The exterior siding is peeling and stained, indicating a major repair is needed.
• Major deck — The deck is in poor condition with visible rot and damage, indicating a major repair is needed.
• Major flooring — The interior flooring appears to be carpeted and in poor condition, with visible wear and tear, indicating a major repair is needed.
• Major interior walls — The interior walls are painted in a dark color and show signs of wear and tear, indicating a major repair is needed.
• Major HVAC system — The satellite image shows no visible HVAC unit, which could indicate a need for a new system.

Value-add opportunities

• Resale paint exterior siding — Painting the exterior siding can improve the home's curb appeal and make it more attractive to potential buyers.
• Resale repair deck — A repaired deck can add value to the home and make it more attractive to potential buyers.
• Resale replace carpet flooring — Replacing the carpet flooring with a more modern and durable material can improve the home's appearance and make it more attractive to potential buyers.
• Resale paint interior walls — Painting the interior walls can improve the home's appearance and make it more attractive to potential buyers.
• Resale replace HVAC system — Replacing the HVAC system can improve the home's comfort and energy efficiency, making it more attractive to potential buyers.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The satellite image shows rust and wear on the metal roof, indicating a major repair is needed.	Major	$15,000–50,000
exterior siding · The exterior siding is peeling and stained, indicating a major repair is needed.	Major	$15,000–50,000
deck · The deck is in poor condition with visible rot and damage, indicating a major repair is needed.	Major	$15,000–50,000
flooring · The interior flooring appears to be carpeted and in poor condition, with visible wear and tear, indicating a major repair is needed.	Major	$15,000–50,000
interior walls · The interior walls are painted in a dark color and show signs of wear and tear, indicating a major repair is needed.	Major	$15,000–50,000
HVAC system · The satellite image shows no visible HVAC unit, which could indicate a need for a new system.	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Resale paint exterior siding — Painting the exterior siding can improve the home's curb appeal and make it more attractive to potential buyers. ↑
• Resale repair deck — A repaired deck can add value to the home and make it more attractive to potential buyers. ↑
• Resale replace carpet flooring — Replacing the carpet flooring with a more modern and durable material can improve the home's appearance and make it more attractive to potential buyers. ↑
• Resale paint interior walls — Painting the interior walls can improve the home's appearance and make it more attractive to potential buyers. ↑
• Resale replace HVAC system — Replacing the HVAC system can improve the home's comfort and energy efficiency, making it more attractive to potential buyers. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — South Lansing

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• 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

-33.1% since first listed

7 events — show timeline

• 2026-04-08 Contingent — UNYREIS
• 2026-02-13 Listed $103,000 UNYREIS
• 2026-02-08 Listing Removed — UNYREIS
• 2025-08-13 Listed $114,000 UNYREIS
• 2025-07-18 Listing Removed — CNYIS
• 2025-03-17 Price Changed $114,000 CNYIS
• 2025-02-28 Listed $154,000 CNYIS