247 Turner Rd · Morrisonville, NY 12962

$75,000

3 bd · 2.0 ba · 1,232 sqft · Manufactured public records · 81 Days on market

Built 1988 0.73 ac lot $61/sqft · 38% below area Est $121k · 38% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +2.1/10.0

Listing remarks MLS

1988 manufactured home offering 3 bedrooms, 2 full bathrooms, Inside, you'll find an open-concept living and kitchen area--ideal for both everyday living. Deattached 1-car garage with workshop. An additional covered porch provides added privacy, space, and comfort. The quiet, tree-lined backyard creates a peaceful retreat. This home is perfect for first-time buyers, small families, or those looking to downsize. Being sold as-is.

Key facts

• Covered porch
• Tree-lined backyard
• Open-concept living

Tags

• OPEN-CONCEPT LIVING
• DEATTACHED GARAGE
• COVERED PORCH
• TREE-LINED BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $75k.

Deal economics

• At list price, monthly cash flow is $365 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $70k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#573 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A-; Watch: schools D+, amenities F, commute F.
• Peru Central School District (rural): math 35% / reading 48% proficiency, ranked #483 of 590 in NY (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 32 active listings in the ZIP; 192 units permitted in Clinton County in 2024 (64 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Clinton County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $48k; list at $75k implies a 55% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price.

Recommended offer $70,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% 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. 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 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?
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: 1.65% ✓
• Cap rate: 12.14%
• Cash-on-cash: 20.88%
• DSCR: 1.93
• GRM: 5.0

CMA / ARV

• ARV (median comp): $121,065
• List price: $75,000
• Delta: -38.05%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 13.4%
• Equity multiple: 1.53×
• Total profit: $11,192
• Equity at exit: $11,183

10-year hold

• IRR: 22.2%
• Equity multiple: 2.91×
• Total profit: $40,021
• Equity at exit: $6,485

Cash invested: $21,000 (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 12962

• Home prices YoY: -2.2%
• Active inventory: 32
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,239 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$189 /mo · $2,266/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $365

Break-even live

Break-even rent $776

Max offer price $75,000

Occupancy floor 66%

Sensitivity live

Price	-10% $408	-5% $387	+0% $365	+5% $344	+10% $323
Rent	-10% $267	-5% $316	+0% $365	+5% $414	+10% $463
Rate	-1.0pp $403	-0.5pp $384	base $365	+0.5pp $346	+1.0pp $326

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-21
   days on market $75,000 Active 81 DOM
2. 2026-06-19
   days on market $75,000 Active 79 DOM
3. 2026-06-18
   days on market $75,000 Active 78 DOM
4. 2026-06-17
   days on market $75,000 Active 77 DOM
5. 2026-06-16
   days on market $75,000 Active 76 DOM
6. 2026-06-15
   days on market $75,000 Active 75 DOM
7. 2026-06-14
   days on market $75,000 Active 73 DOM
8. 2026-06-13
   days on market $75,000 Active 72 DOM
9. 2026-06-10
   days on market $75,000 Active 70 DOM
10. 2026-06-09
    days on market $75,000 Active 69 DOM
11. 2026-06-08
    days on market $75,000 Active 68 DOM
12. 2026-06-07
    days on market $75,000 Active 67 DOM
13. 2026-06-03
    days on market $75,000 Active 63 DOM
14. 2026-06-02
    days on market $75,000 Active 62 DOM
15. 2026-06-01
    days on market $75,000 Active 61 DOM
16. 2026-05-31
    days on market $75,000 Active 60 DOM
17. 2026-05-30
    days on market $75,000 Active 59 DOM
18. 2026-05-07
    price $75,000 432-char remark

    Show marketing remark (432 chars)

    1988 manufactured home offering 3 bedrooms, 2 full bathrooms, Inside, you'll find an open-concept living and kitchen area--ideal for both everyday living. Deattached 1-car garage with workshop. An additional covered porch provides added privacy, space, and comfort. The quiet, tree-lined backyard creates a peaceful retreat. This home is perfect for first-time buyers, small families, or those looking to downsize. Being sold as-is.

19. 2026-04-01
    listed $80,000 Active 432-char remark

    Show marketing remark (432 chars)

    1988 manufactured home offering 3 bedrooms, 2 full bathrooms, Inside, you'll find an open-concept living and kitchen area--ideal for both everyday living. Deattached 1-car garage with workshop. An additional covered porch provides added privacy, space, and comfort. The quiet, tree-lined backyard creates a peaceful retreat. This home is perfect for first-time buyers, small families, or those looking to downsize. Being sold as-is.

20. 2025-09-02
    status Active
21. 2025-06-09
    status Pending
22. 2025-06-09
    historical
23. 2025-06-05
    price $64,900
24. 2025-05-29
    price $69,900
25. 2025-05-26
    price $74,900
26. 2025-05-16
    price $79,900
27. 2025-05-14
    price $89,900
28. 2025-05-13
    listed $99,900 Active
29. 2025-05-09
    listed $99,900 Active
30. 2025-05-09
    historical
31. 2003-04-22
    soldstatus $48,500

ⓘ 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: $2,266 · $189/mo
• Projected year-2 tax: $2,266 · $189/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 2/10 Low 7 d/yr ≥93°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,867
• − Mortgage interest: −$4,201
• − Property taxes: −$2,266
• − Insurance: −$375
• − Repairs & maintenance: −$1,189
• − Management: −$1,189
• − Depreciation: −$2,182
• Taxable income: $3,464
• Est. tax owed @ 24.0%: −$831
• After-tax cash flow: $3,553/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: Peru Central School District
• NCES district ID: 3622830
• Math proficiency: 35% ▼ -16.00%
• Reading proficiency: 48% ▲ 4.00%
• Median HH income: $59,762
• Composite: 36.62/100
• National rank: #4621
• State rank: #483 of 590 in NY

Livability — Morrisonville

• Score: 67/100
• State rank: #573
• US rank: #10301

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,131

Population outlook (Clinton County) Hauer SSP2

• Today (2025): 78,791 people
• By 2030: 76,848 · -2.5%
• By 2040: 71,579 · -9.2%
• By 2050: 66,471 · -15.6%
• By 2075: 57,361 · -27.2%
• By 2100: 47,232 · -40.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 1%
• Common ancestry: Lithuanian 18% Slovak 3% Portuguese 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · French/Haitian/Cajun 2%

Political lean MEDSL · Clinton

• 2024 margin: Toss-up / Even · D 48.9% · R 51.1%
• 2008→2024 swing: -25.1pp toward R · 2008: 22.9pp · 2024: -2.2pp
• All cycles: 2024: R+2.2 2020: D+5.2 2016: D+0.9 2012: D+25.6 2008: D+22.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -5.87%
• Current HPI: 265.7693
• 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

+54.6% since first listed

14 events — show timeline

• 2026-05-07 Price Changed $75,000 ACVMLS
• 2026-04-01 Listed $80,000 ACVMLS
• 2025-09-02 Relisted — Global MLS
• 2025-06-09 Pending — Global MLS
• 2025-06-09 Listing Removed — Global MLS
• 2025-06-05 Price Changed $64,900 Global MLS
• 2025-05-29 Price Changed $69,900 Global MLS
• 2025-05-26 Price Changed $74,900 Global MLS
• 2025-05-16 Price Changed $79,900 Global MLS
• 2025-05-14 Price Changed $89,900 Global MLS
• 2025-05-13 Listed $99,900 Global MLS
• 2025-05-09 Listing Removed — Global MLS
• 2025-05-09 Listed $99,900 Global MLS
• 2003-04-22 Sold (Public Records) $48,500 Public Records

Property tax history

+4.8%/yr

Latest (2025): $2,266 · +5.1% YoY. Source: county tax records.