32 Glenn St · Cortland, NY 13045

$195,000

3 bd · 1.5 ba · 1,296 sqft · SingleFamily public records · 69 Days on market

Built 1920 $150/sqft · 11% below area Est $221k · 12% under

---

Why this score? — see what drove the D 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).

• ARV discount +12.8/15.0
• Cash flow +9.7/30.0
• Rent growth +4.6/5.0
• 1% rule +4.3/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful remodeled home , fully landscaped and fenced in . Includes all appliances and window treatments - move in ready . Perfect quiet location but in town What the owner loves about this home Beautiful street and a great neighborhood . Quiet, dead end Street not in the flood zone premium location next to the wildlife park but in town cute little very loved cottage.

Key facts

• Window treatments
• Fenced in
• Fully landscaped

Tags

• REMODELED HOME
• FULLY LANDSCAPED
• FENCED IN
• ALL APPLIANCES
• WINDOW TREATMENTS
• MOVE IN READY

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $-184 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $162k (16.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $181k (7.1% below list).
• Recommended offer: $162k (16.7% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 77/100 on livability (#201 in NY, #3,105 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, schools D+, employment D.
• Cortland City School District (town): math 49% / reading 54% proficiency, ranked #368 of 590 in NY (top 62%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+8.4%/yr); 141 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 45 units permitted in Cortland County in 2024 (12 in 5+ unit buildings).
• This rent runs 31% of the median local income ($70k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Cortland County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($183k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y ago 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.
• Current owner paid $102k; list at $195k implies a 91% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; flood insurance adds $56/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $162,456 (16.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. 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: 0.93% ✗
• Cap rate: 5.50%
• Cash-on-cash: -2.83%
• DSCR: 0.87
• GRM: 9.0

CMA / ARV

• ARV (median comp): $220,823
• List price: $195,000
• Delta: -11.69%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
158 Madison St	0.49mi	3/2.0	1,260 (-3%)	2mo	$212,000	$168	69
15 Pearl St	0.51mi	2/2.0 (-1)	1,296 (0%)	10mo	$165,000	$127	61
15 Broadway Ave	0.48mi	3/1.5	1,170 (-10%)	5mo	$150,000	$128	57
16 Frank St	0.69mi	3/1.5	1,276 (-2%)	11mo	$153,000	$120	56
37 Parker Ave	0.61mi	2/1.5 (-1)	1,197 (-8%)	1mo	$184,000	$154	53
6 Douglas St	0.71mi	3/1.0	1,176 (-9%)	1mo	$186,000	$158	48
5 Harrington Ave	0.73mi	3/1.0	1,352 (+4%)	14mo	$170,000	$126	45
31 Hamlin St	0.58mi	2/1.5 (-1)	1,434 (+11%)	11mo	$200,000	$139	41
46 Mildred Ave	0.53mi	3/1.0	1,396 (+8%)	23mo	$130,000	$93	41

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

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -16.5%
• Equity multiple: 0.39×
• Total profit: $-33,566
• Equity at exit: $29,075

10-year hold

• IRR: 0.0%
• Equity multiple: 1.00×
• Total profit: $16
• Equity at exit: $16,860

Cash invested: $54,600 (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 13045

• Home prices YoY: -9.3%
• Rents YoY: 8.4%
• Active inventory: 141
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,812 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$456 /mo · $5,471/yr
• Insurance: −$81
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $-184

Break-even live

Break-even rent $2,045

Max offer price $162,456

Occupancy floor —

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
211 Tompkins St Unit 6 Cortland, NY	3.0	1.0	1000	$1,350	$1.35	44d	1	0.67mi
31 James St Cortland, NY	3.0	1.5	1319	$3,600	$2.73	44d	1	0.69mi
1 Chelsea Dr Unit 132 Cortland, NY	2.0	1.0	1200	$1,595	$1.33	44d	1	0.84mi
1 Chelsea Dr Unit 131 Cortland, NY	2.0	1.0	1200	$1,645	$1.37	44d	1	0.84mi
126 Chelsea Dr Cortland, NY	1.0–2.0	1.0	900	$1,835	$2.04	44d	5	0.85mi
1 Holiday Dr Cortland, NY	1.0–2.0	1.0	800	$1,530	$1.91	44d	8	0.92mi
109 Main St Unit 2 and 4 Cortland, NY	3.0	1.0	1200	$1,775	$1.48	44d	1	0.97mi
30 Randall St Cortland, NY	2.0	1.0	943	$1,500	$1.59	44d	1	1.19mi
88 Clinton Ave Cortland, NY	3.0	1.0	1100	$1,600	$1.45	44d	1	1.41mi

Listing history 24 events

1. 2026-06-19
   days on market $195,000 Active 69 DOM
2. 2026-06-18
   days on market $195,000 Active 68 DOM
3. 2026-06-17
   days on market $195,000 Active 67 DOM
4. 2026-06-16
   days on market $195,000 Active 66 DOM
5. 2026-06-15
   days on market $195,000 Active 65 DOM
6. 2026-06-14
   days on market $195,000 Active 63 DOM
7. 2026-06-12
   days on market $195,000 Active 62 DOM
8. 2026-06-09
   days on market $195,000 Active 59 DOM
9. 2026-06-08
   days on market $195,000 Active 58 DOM
10. 2026-06-07
    days on market $195,000 Active 57 DOM
11. 2026-06-05
    days on market $195,000 Active 54 DOM
12. 2026-06-03
    days on market $195,000 Active 53 DOM
13. 2026-06-02
    days on market $195,000 Active 52 DOM
14. 2026-06-01
    days on market $195,000 Active 51 DOM
15. 2026-05-31
    days on market $195,000 Active 50 DOM
16. 2026-05-30
    days on market $195,000 Active 49 DOM
17. 2026-04-07
    listed $195,000 Active 373-char remark

    Show marketing remark (373 chars)

    Beautiful remodeled home , fully landscaped and fenced in . Includes all appliances and window treatments - move in ready . Perfect quiet location but in town What the owner loves about this home Beautiful street and a great neighborhood . Quiet, dead end Street not in the flood zone premium location next to the wildlife park but in town cute little very loved cottage.

18. 2018-12-05
    soldstatus $102,000
19. 2018-11-28
    soldstatus $102,000 252-char remark

    Show marketing remark (252 chars)

    Fully remodeled 3 bedroom, 1.5 bath Cape Cod in the City of Cortland located at the end of a quiet dead end street. New kitchen cabinets, new appliances, updated bathrooms, & hardwood floors throughout. New metal roof. Don't miss this great value.

20. 2018-08-08
    listed $104,000 252-char remark

    Show marketing remark (252 chars)

    Fully remodeled 3 bedroom, 1.5 bath Cape Cod in the City of Cortland located at the end of a quiet dead end street. New kitchen cabinets, new appliances, updated bathrooms, & hardwood floors throughout. New metal roof. Don't miss this great value.

21. 2018-02-26
    historical
22. 2018-01-26
    listed $49,900
23. 2017-12-26
    listed $49,900
24. 2005-07-08
    soldstatus $75,000

ⓘ 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: $5,471 · $456/mo
• Projected year-2 tax: $5,471 · $456/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 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 17 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: $21,739
• − Mortgage interest: −$10,923
• − Property taxes: −$5,471
• − Insurance: −$1,642
• − Repairs & maintenance: −$1,739
• − Management: −$1,739
• − Depreciation: −$5,673
• Taxable loss: −$5,448
• Est. tax savings @ 24.0%: +$1,308
• After-tax cash flow: $-903/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: Cortland City School District
• NCES district ID: 3608460
• Math proficiency: 49% ▲ 6.00%
• Reading proficiency: 54% ▲ 17.00%
• Median HH income: $42,413
• Composite: 43.29/100
• National rank: #3041
• State rank: #368 of 590 in NY

Livability — Cortland

• Score: 77/100
• State rank: #201
• US rank: #3105

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cortland, NY
• County: Cortland County · 28,361 people
• City population: 28,361
• Metro: Cortland, NY
• Population (ZIP): 28,361
• Household income: $69,961
• Rent vs Own: 41.7% rent · 58.3% own
• Severe rent burden: 1488.0

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 (87%)
• Race & ethnicity: White 87% Two or more races 5% Hispanic / Latino 5% Black 3% Asian 2%
• Common ancestry: Romanian 4% Lithuanian 2% Italian 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 94% English-only · Spanish 2% Russian/Polish/Slavic 2% Other Indo-European 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: ▼ -29.78%
• Current HPI: 289.515
• Rent YoY: ▲ 8.37%
• Metro: Cortland, NY
• 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

+160.0% since first listed

8 events — show timeline

• 2026-04-07 Listed $195,000 Fizber.com
• 2018-12-05 Sold (Public Records) $102,000 Public Records
• 2018-11-28 Sold (MLS) $102,000 IBRMLS
• 2018-08-08 Listed $104,000 IBRMLS
• 2018-02-26 Listing Removed — CNYIS
• 2018-01-26 Listed $49,900 IBRMLS
• 2017-12-26 Listed $49,900 CNYIS
• 2005-07-08 Sold (Public Records) $75,000 Public Records

Property tax history

+2.9%/yr

Latest (2025): $5,471 · +0.5% YoY. Source: county tax records.