6698 Truxton Tully Rd · Tully, NY 13159

$129,900

3 bd · 1.0 ba · 1,458 sqft · SingleFamily public records · 63 Days on market

Built 1955 1.45 ac lot $89/sqft · 43% below area Est $227k · 43% 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 +26.7/30.0
• ARV discount +15.0/15.0
• DSCR +9.2/10.0
• 1% rule +7.8/10.0
• Appreciation +6.3/10.0
• Schools +4.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Located in the desirable Homer School District, this 3-bedroom, 1-bath home is set on 1.45 acres, offering a blend of country surroundings and convenient access to nearby amenities. Recent updates enhance both comfort and value, including a brand new metal roof, new flooring, an updated kitchen, and many replacement windows. The property provides ample outdoor space for recreation, gardening, or future expansion, making it a great opportunity for those seeking a home with room to enjoy the outdoors!

Key facts

• Metal roof
• New flooring
• Updated kitchen

Tags

• HOMER SCHOOL DISTRICT
• METAL ROOF
• NEW FLOORING
• UPDATED KITCHEN
• REPLACEMENT WINDOWS
• OUTDOOR SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $351 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $122k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 1.7% in Tully — 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 63/100 on livability (#800 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A-; Watch: employment D, crime F, amenities F.
• Homer Central School District (town): math 49% / reading 59% proficiency, ranked #306 of 590 in NY (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 18 active listings in the ZIP; 45 units permitted in Cortland County in 2024 (12 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($898 loan paydown + $3k appreciation (2.7% local appreciation)).
• Cortland County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.7% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $53k; list at $130k implies a 147% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $122,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.28% ✓
• Cap rate: 9.54%
• Cash-on-cash: 11.59%
• DSCR: 1.52
• GRM: 6.5

CMA / ARV

• ARV (median comp): $227,044
• List price: $129,900
• Delta: -42.79%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

2.67% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.6%
• Equity multiple: 1.99×
• Total profit: $35,840
• Equity at exit: $56,025

10-year hold

• IRR: 19.3%
• Equity multiple: 3.73×
• Total profit: $99,175
• Equity at exit: $84,533

Cash invested: $36,372 (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 13159

• Home prices YoY: 0.9%
• Active inventory: 18
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,666 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$230 /mo · $2,756/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $351

Break-even live

Break-even rent $1,221

Max offer price $129,900

Occupancy floor 74%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-19
   days on market $129,900 Active 63 DOM
2. 2026-06-18
   days on market $129,900 Active 62 DOM
3. 2026-06-17
   days on market $129,900 Active 61 DOM
4. 2026-06-16
   days on market $129,900 Active 60 DOM
5. 2026-06-15
   days on market $129,900 Active 59 DOM
6. 2026-06-14
   days on market $129,900 Active 57 DOM
7. 2026-06-12
   days on market $129,900 Active 56 DOM
8. 2026-06-09
   days on market $129,900 Active 53 DOM
9. 2026-06-08
   days on market $129,900 Active 52 DOM
10. 2026-06-07
    pricedays on market $129,900 Active 51 DOM
11. 2026-06-02
    days on market $139,900 Active 46 DOM
12. 2026-06-01
    days on market $139,900 Active 45 DOM
13. 2026-05-31
    days on market $139,900 Active 44 DOM
14. 2026-05-30
    days on market $139,900 Active 43 DOM
15. 2026-04-17
    listed $139,900 Active 504-char remark

    Show marketing remark (504 chars)

    Located in the desirable Homer School District, this 3-bedroom, 1-bath home is set on 1.45 acres, offering a blend of country surroundings and convenient access to nearby amenities. Recent updates enhance both comfort and value, including a brand new metal roof, new flooring, an updated kitchen, and many replacement windows. The property provides ample outdoor space for recreation, gardening, or future expansion, making it a great opportunity for those seeking a home with room to enjoy the outdoors!

16. 2008-07-25
    soldstatus $52,600

ⓘ 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: $2,756 · $230/mo
• Projected year-2 tax: $2,756 · $230/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 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥92°F today · 17 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: $19,992
• − Mortgage interest: −$7,276
• − Property taxes: −$2,756
• − Insurance: −$650
• − Repairs & maintenance: −$1,599
• − Management: −$1,599
• − Depreciation: −$3,779
• Taxable income: $2,333
• Est. tax owed @ 24.0%: −$560
• After-tax cash flow: $3,654/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: Homer Central School District
• NCES district ID: 3614640
• Math proficiency: 49% ▼ -1.00%
• Reading proficiency: 59% ▲ 9.00%
• Median HH income: $60,122
• Composite: 47.03/100
• National rank: #2342
• State rank: #306 of 590 in NY

Livability — Tully

• Score: 63/100
• State rank: #800
• US rank: #15471

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 5,297
• Population (ZIP): 5,297

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 (92%)
• Race & ethnicity: White 92% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Romanian 4% Iranian 2% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 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: ▲ 2.67%
• Current HPI: 293.4315
• 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

+166.0% since first listed

2 events — show timeline

• 2026-04-17 Listed $139,900 CNYIS
• 2008-07-25 Sold (Public Records) $52,600 Public Records

Property tax history

-2.5%/yr

Latest (2025): $2,756 · -0.4% YoY. Source: county tax records.