194 Ames St · Mexico, NY 13114

$115,000

2 bd · 1.0 ba · 1,251 sqft · SingleFamily public records · 6 Days on market

Built 1890 8,276 sqft lot

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Why this score? — see what drove the C 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 +19.2/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• 1% rule +4.4/10.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Investor Special! This property has been mostly gutted and is ready for your vision. Most of the demolition work has already been completed, providing a blank canvas for a full renovation or custom rebuild. With the interior stripped down, buyers have the opportunity to redesign the layout, update systems, and create a home tailored to their needs. Newer vinyl siding, electrical service from road to box. Driveway has stone and is ready for asphalt. Situated on a nice lot in the village of Mexico, this property offers tremendous potential for investors, contractors, flippers, or ambitious homeowners looking for their next project.

Key facts

• Stone driveway
• Custom rebuild
• Newer vinyl siding

Tags

• FULL RENOVATION
• CUSTOM REBUILD
• NEWER VINYL SIDING
• ELECTRICAL SERVICE
• STONE DRIVEWAY
• TREMENDOUS POTENTIAL

Property features AI

Finance

• Other: Property listed as resale/fixer

Exterior

• Parking: No garage
• Utilities: Electricity available and connected (circuit breakers); High-speed internet available; Public water connected; Sewer connected
• Home design: 2-story house; Existing construction; Rectangular lot (78 x 104)
• Construction: Vinyl siding; Blown-in insulation; Stone foundation; Asphalt roof
• Exterior features: Deck; Gravel driveway; See remarks

Interior

• Flooring: Hardwood; Varies
• Bathrooms: 1 full bathroom (1 on the main level)
• Heating & cooling: Gas heating
• Interior features: Separate/formal living room; Other interior features (see remarks); Partial basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $125 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $108k (5.9% below list).
• Recommended offer: $108k (5.9% below list) — sets the bar for 1% rule.
• Cap rate 7.6% vs local median 3.1% in Mexico — 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 64/100 on livability (#756 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety D-.
• Mexico Central School District (rural): math 33% / reading 42% proficiency, ranked #540 of 590 in NY (top 92%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 26 active listings in the ZIP; 172 units permitted in Oswego County in 2024 (27 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($795 loan paydown + $12k appreciation (10.0% local appreciation)).
• Oswego County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $108,240 (5.9% below list)

Questions for the listing agent

1. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.94% ✗
• Cap rate: 7.60%
• Cash-on-cash: 4.65%
• DSCR: 1.21
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $250,200
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3414 Main St	0.11mi	2/1.5	1,232 (-2%)	11mo	$159,574	$130	81
26 County Route 64	0.23mi	2/2.0	1,248 (-0%)	21mo	$250,000	$200	67
283 County Route 58	0.64mi	3/1.5 (+1)	1,200 (-4%)	8mo	$315,000	$263	50
6 Clinton St	0.60mi	3/1.0 (+1)	1,378 (+10%)	8mo	$170,000	$123	44

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.6%
• Equity multiple: 3.19×
• Total profit: $70,562
• Equity at exit: $103,601

10-year hold

• IRR: 24.1%
• Equity multiple: 7.26×
• Total profit: $201,493
• Equity at exit: $223,420

Cash invested: $32,200 (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 13114

• Home prices YoY: 18.3%
• Active inventory: 26
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,082 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$79 /mo · $951/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $125

Break-even live

Break-even rent $924

Max offer price $115,000

Occupancy floor 83%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-18
   days on market $115,000 Active 6 DOM
2. 2026-06-17
   days on market $115,000 Active 5 DOM
3. 2026-06-16
   days on market $115,000 Active 4 DOM
4. 2026-06-15
   days on market $115,000 Active 3 DOM
5. 2026-06-13
   remarks 637-char remark
6. 2026-06-13
   listed $115,000 Active 1 DOM

ⓘ 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: $951 · $79/mo
• Projected year-2 tax: $1,447 · $121/mo
• Expected delta: +$496/yr (+$41/mo · 52.2%)

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

Taxation est. · year 1

• Rental income: $12,989
• − Mortgage interest: −$6,442
• − Property taxes: −$951
• − Insurance: −$575
• − Repairs & maintenance: −$1,039
• − Management: −$1,039
• − Depreciation: −$3,345
• Taxable loss: −$402
• Est. tax savings @ 24.0%: +$97
• After-tax cash flow: $1,595/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: Mexico Central School District
• NCES district ID: 3619170
• Math proficiency: 33% ▼ -19.00%
• Reading proficiency: 42% ▲ 1.00%
• Median HH income: $51,635
• Composite: 32.55/100
• National rank: #5691
• State rank: #540 of 590 in NY

Livability — Mexico

• Score: 64/100
• State rank: #756
• US rank: #14489

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mexico, NY
• City population: 7,313
• Population (ZIP): 7,313

Population outlook (Oswego County) Hauer SSP2

• Today (2025): 114,465 people
• By 2030: 109,968 · -3.9%
• By 2040: 99,205 · -13.3%
• By 2050: 87,979 · -23.1%
• By 2075: 65,100 · -43.1%
• By 2100: 47,117 · -58.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Lithuanian 5% Romanian 4% Portuguese 3%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Other Asian/Pacific 1%

Political lean MEDSL · Oswego

• 2024 margin: Strong R (+24.2) · D 37.9% · R 62.1%
• 2008→2024 swing: -26.6pp toward R · 2008: 2.5pp · 2024: -24.2pp
• All cycles: 2024: R+24.2 2020: R+20.2 2016: R+23.2 2012: D+7.9 2008: D+2.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 50.65%
• Current HPI: 327.6719
• 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

1 event — show timeline

• 2026-06-12 Listed $115,000 CNYIS

Property tax history

-6.3%/yr

Latest (2024): $951 · -46.4% YoY. Source: county tax records.