98 Evergreen St · Cortland, NY 13045

$159,900

2 bd · 1.0 ba · 1,266 sqft · SingleFamily public records · 5 Days on market

Built 1965 0.26 ac lot Est $176k · 9% under

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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
• ARV discount +11.6/15.0
• 1% rule +7.0/10.0
• DSCR +6.1/10.0
• Rent growth +4.6/5.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Why pay rent? Own this charming one level ranch home on corner lot in Cortland. The 1,200 square foot home offers 2 spacious bedrooms, 1 Bath, eat in kitchen and hardwood floors throughout with 1 car attached garage. A full basement provides space for a laundry room, workshop, and plenty of storage. Close to the hospitals, SUNY Cortland, and easy commute to Syracuse, Ithaca, Auburn and Binghamton.

Key facts

• Commuter location
• Fenced yard
• Full basement

Tags

• FIRST FLOOR LIVING
• FULL BASEMENT
• FENCED YARD
• COMMUTER LOCATION

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Electricity available and connected; High-speed internet available; Cable available; Public water connected; Sewer connected
• Home design: Single-story home; Existing building (not new construction)
• Construction: Aluminum and vinyl siding; Asphalt roof; Block foundation; Built previously (existing)
• Exterior features: Blacktop driveway; Fully fenced yard; Covered porch

Interior

• Kitchen: Dishwasher; Gas oven; Gas range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the first/main level
• Flooring: Hardwood flooring; Varied flooring materials
• Bathrooms: 1 full bathroom (on the main level)
• Heating & cooling: Gas heating with baseboard/hot water system; Window air conditioning units
• Interior features: Eat-in kitchen; Separate/formal living room; Bedroom on main level; Full basement
• Laundry & utility: Laundry located in the basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $172 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Cap rate 7.6% vs local median 6.2% in Cortland — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 4 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 33% 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 $5k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $45k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 4y 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 $124k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price.

Recommended offer $159,900

Questions for the listing agent

1. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.20% ✓
• Cap rate: 7.58%
• Cash-on-cash: 4.61%
• DSCR: 1.21
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $175,974
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
91 Wheeler Ave	0.07mi	3/1.0 (+1)	1,252 (-1%)	8mo	$178,000	$142	83
71 W Main St	0.20mi	3/1.0 (+1)	1,327 (+5%)	2mo	$172,500	$130	76
6 Douglas St	0.21mi	3/1.0 (+1)	1,176 (-7%)	1mo	$186,000	$158	72
37 Parker Ave	0.36mi	2/1.5	1,197 (-6%)	1mo	$184,000	$154	71
44 Alvena Ave	0.28mi	3/1.5 (+1)	1,252 (-1%)	10mo	$180,000	$144	69
158 Madison St	0.44mi	3/2.0 (+1)	1,260 (-0%)	2mo	$212,000	$168	68
41 Evergreen St	0.28mi	3/1.5 (+1)	1,296 (+2%)	10mo	$150,000	$116	68
5 Evergreen St	0.46mi	3/1.5 (+1)	1,280 (+1%)	8mo	$67,200	$53	63
8 Evergreen St	0.45mi	3/1.0 (+1)	1,232 (-3%)	18mo	$170,000	$138	55
8 Fifth Ave	0.20mi	3/2.0 (+1)	1,438 (+14%)	9mo	$170,000	$118	51
31 Arthur Ave	0.68mi	3/1.5 (+1)	1,351 (+7%)	4mo	$118,000	$87	47
31 Hamlin St	0.51mi	2/1.5	1,434 (+13%)	11mo	$200,000	$139	43

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: -2.6%
• Equity multiple: 0.90×
• Total profit: $-4,624
• Equity at exit: $23,842

10-year hold

• IRR: 12.6%
• Equity multiple: 2.27×
• Total profit: $56,990
• Equity at exit: $13,825

Cash invested: $44,772 (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: 6.9×

Monthly cashflow live

• Estimated rent: $1,920 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$440 /mo · $5,275/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $172

Break-even live

Break-even rent $1,702

Max offer price $159,900

Occupancy floor 86%

Sensitivity live

Price	-10% $263	-5% $217	+0% $172	+5% $127	+10% $82
Rent	-10% $20	-5% $96	+0% $172	+5% $248	+10% $324
Rate	-1.0pp $253	-0.5pp $213	base $172	+0.5pp $131	+1.0pp $89

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
31 James St Cortland, NY	3.0	1.5	1319	$3,600	$2.73	44d	1	1.09mi
109 Main St Unit 2 and 4 Cortland, NY	3.0	1.0	1200	$1,775	$1.48	44d	1	1.17mi
88 Clinton Ave Cortland, NY	3.0	1.0	1100	$1,600	$1.45	44d	1	1.22mi
30 Randall St Cortland, NY	2.0	1.0	943	$1,500	$1.59	44d	1	1.45mi

Listing history 11 events

1. 2026-04-14
   status Pending
2. 2026-04-08
   listed $159,900 Active
3. 2022-12-27
   soldstatus $124,000 Closed 400-char remark

   Show marketing remark (400 chars)

   Why pay rent? Own this charming one level ranch home on corner lot in Cortland. The 1,200 square foot home offers 2 spacious bedrooms, 1 Bath, eat in kitchen and hardwood floors throughout with 1 car attached garage. A full basement provides space for a laundry room, workshop, and plenty of storage. Close to the hospitals, SUNY Cortland, and easy commute to Syracuse, Ithaca, Auburn and Binghamton.

4. 2022-12-27
   soldstatus $124,000 400-char remark

   Show marketing remark (400 chars)

   Why pay rent? Own this charming one level ranch home on corner lot in Cortland. The 1,200 square foot home offers 2 spacious bedrooms, 1 Bath, eat in kitchen and hardwood floors throughout with 1 car attached garage. A full basement provides space for a laundry room, workshop, and plenty of storage. Close to the hospitals, SUNY Cortland, and easy commute to Syracuse, Ithaca, Auburn and Binghamton.

5. 2022-12-27
   soldstatus $125,000

   Show marketing remark (400 chars)

   Why pay rent? Own this charming one level ranch home on corner lot in Cortland. The 1,200 square foot home offers 2 spacious bedrooms, 1 Bath, eat in kitchen and hardwood floors throughout with 1 car attached garage. A full basement provides space for a laundry room, workshop, and plenty of storage. Close to the hospitals, SUNY Cortland, and easy commute to Syracuse, Ithaca, Auburn and Binghamton.

6. 2022-10-31
   historical Active Under Contract 400-char remark

   Show marketing remark (400 chars)

   Why pay rent? Own this charming one level ranch home on corner lot in Cortland. The 1,200 square foot home offers 2 spacious bedrooms, 1 Bath, eat in kitchen and hardwood floors throughout with 1 car attached garage. A full basement provides space for a laundry room, workshop, and plenty of storage. Close to the hospitals, SUNY Cortland, and easy commute to Syracuse, Ithaca, Auburn and Binghamton.

7. 2022-10-28
   price $127,500 400-char remark

   Show marketing remark (400 chars)

   Why pay rent? Own this charming one level ranch home on corner lot in Cortland. The 1,200 square foot home offers 2 spacious bedrooms, 1 Bath, eat in kitchen and hardwood floors throughout with 1 car attached garage. A full basement provides space for a laundry room, workshop, and plenty of storage. Close to the hospitals, SUNY Cortland, and easy commute to Syracuse, Ithaca, Auburn and Binghamton.

8. 2022-10-12
   listed $137,500 Active 400-char remark

   Show marketing remark (400 chars)

   Why pay rent? Own this charming one level ranch home on corner lot in Cortland. The 1,200 square foot home offers 2 spacious bedrooms, 1 Bath, eat in kitchen and hardwood floors throughout with 1 car attached garage. A full basement provides space for a laundry room, workshop, and plenty of storage. Close to the hospitals, SUNY Cortland, and easy commute to Syracuse, Ithaca, Auburn and Binghamton.

9. 2022-10-12
   listed $127,500 400-char remark

   Show marketing remark (400 chars)

   Why pay rent? Own this charming one level ranch home on corner lot in Cortland. The 1,200 square foot home offers 2 spacious bedrooms, 1 Bath, eat in kitchen and hardwood floors throughout with 1 car attached garage. A full basement provides space for a laundry room, workshop, and plenty of storage. Close to the hospitals, SUNY Cortland, and easy commute to Syracuse, Ithaca, Auburn and Binghamton.

10. 2007-06-29
    soldstatus $89,600
11. 1997-03-26
    soldstatus $73,000

ⓘ 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: $5,275 · $440/mo
• Projected year-2 tax: $5,275 · $440/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 ≥95°F today · 16 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: $23,041
• − Mortgage interest: −$8,957
• − Property taxes: −$5,275
• − Insurance: −$800
• − Repairs & maintenance: −$1,843
• − Management: −$1,843
• − Depreciation: −$4,652
• Taxable loss: −$329
• Est. tax savings @ 24.0%: +$79
• After-tax cash flow: $2,144/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

+119.0% since first listed

11 events — show timeline

• 2026-04-14 Pending — CNYIS
• 2026-04-08 Listed $159,900 CNYIS
• 2022-12-27 Sold (Public Records) $125,000 Public Records
• 2022-12-27 Sold (MLS) $124,000 IBRMLS
• 2022-12-27 Sold (MLS) $124,000 IBRMLS
• 2022-10-31 Contingent — IBRMLS
• 2022-10-28 Price Changed $127,500 IBRMLS
• 2022-10-12 Listed $127,500 IBRMLS
• 2022-10-12 Listed $137,500 IBRMLS
• 2007-06-29 Sold (Public Records) $89,600 Public Records
• 1997-03-26 Sold (Public Records) $73,000 Public Records

Property tax history

+2.8%/yr

Latest (2025): $5,275 · +3.4% YoY. Source: county tax records.