3484 County Route 22 · Altmar, NY 13144

$89,900

3 bd · 2.0 ba · 1,352 sqft · Manufactured public records · 99 Days on market

Built 1996 0.41 ac lot ↓ 22% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.9/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Spacious 4-bedroom, 2-bath double-wide offering endless potential and room to make it your own! Featuring a country-style kitchen, some newer flooring throughout, and plenty of living space to work with, this home is ready for your finishing touches. Enjoy a screened-in side porch, a covered front porch perfect for relaxing, a handy little shed, and a detached 2-car garage for storage or hobbies. The property does need some TLC, but with a bit of elbow grease and cosmetic updates, it could truly shine. A diamond in the rough. Ideal for those looking to build equity, invest, or create their forever home. Great opportunity for rental income or a flip in a peaceful setting with a country feel.

Key facts

• Covered front porch
• Handy little shed
• Peaceful setting

Tags

• COUNTRY-STYLE KITCHEN
• SCREENED-IN SIDE PORCH
• COVERED FRONT PORCH
• HANDY LITTLE SHED
• DETACHED 2-CAR GARAGE
• PEACEFUL SETTING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $90k.

Deal economics

• At list price, monthly cash flow is $866 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $82k (9.0% below list) — sets the bar for market timing.
• Cap rate 17.8% vs local median 3.4% in Altmar — 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 57/100 on livability (#1,077 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D+, health & safety D, crime F.
• Sandy Creek Central School District (rural): math 44% / reading 52% proficiency, ranked #425 of 590 in NY (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sandy Creek Elementary School (math 52% / reading 52%, grade C-, #988 of 2,108 statewide, top 49%, 393 students, 49% FRL); Sandy Creek Middle School (math 22% / reading 37%, grade F, #550 of 729 statewide, top 77%, 186 students, 53% FRL); Sandy Creek High School (math 95% / reading 95%, grade A+, #83 of 1,100 statewide, top 8%, 213 students, 50% FRL).
• Market conditions: 14 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 $8k of equity ($622 loan paydown + $7k appreciation (7.9% 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 (7.9% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($82k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price.

Recommended offer $81,809 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% 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 F-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. 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: 2.23% ✓
• Cap rate: 17.85%
• Cash-on-cash: 41.27%
• DSCR: 2.84
• GRM: 3.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.87% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 53.4%
• Equity multiple: 4.64×
• Total profit: $91,512
• Equity at exit: $67,499

10-year hold

• IRR: 48.7%
• Equity multiple: 9.93×
• Total profit: $224,701
• Equity at exit: $133,228

Cash invested: $25,172 (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 13144

• Home prices YoY: 2.9%
• Active inventory: 14
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $2,003 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$207 /mo · $2,488/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$421
• Net cashflow: $866

Break-even live

Break-even rent $907

Max offer price $89,900

Occupancy floor 52%

Sensitivity live

Price	-10% $917	-5% $891	+0% $866	+5% $840	+10% $815
Rent	-10% $708	-5% $787	+0% $866	+5% $945	+10% $1,024
Rate	-1.0pp $911	-0.5pp $889	base $866	+0.5pp $842	+1.0pp $819

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-02-10
   status Pending
2. 2026-02-05
   price $89,900
3. 2026-01-13
   price $94,900
4. 2025-11-25
   price $99,900
5. 2025-11-16
   price $105,000
6. 2025-10-30
   listed $114,900 Active

ⓘ 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: $2,488 · $207/mo
• Projected year-2 tax: $2,488 · $207/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 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥89°F today · 16 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,030
• − Mortgage interest: −$5,036
• − Property taxes: −$2,488
• − Insurance: −$450
• − Repairs & maintenance: −$1,922
• − Management: −$1,922
• − Depreciation: −$2,615
• Taxable income: $9,597
• Est. tax owed @ 24.0%: −$2,303
• After-tax cash flow: $8,086/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: Sandy Creek Central School District
• NCES district ID: 3625650
• Math proficiency: 44% ▼ -8.00%
• Reading proficiency: 52% ▲ 8.00%
• Median HH income: $46,647
• Composite: 40.78/100
• National rank: #3642
• State rank: #425 of 590 in NY

Livability — Altmar

• Score: 57/100
• State rank: #1077
• US rank: #21658

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

• Population (ZIP): 1,105

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 (92%)
• Race & ethnicity: White 92% Two or more races 4% Black 2% Pacific Islander 1%
• Common ancestry: Lithuanian 5% Romanian 5% Slovak 1%
• Foreign-born: 3% · Vietnam, Canada
• Languages at home: 97% English-only · Other Asian/Pacific 1% German/W. Germanic 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: ▲ 7.87%
• Current HPI: 275.1966
• 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

-21.8% since first listed

6 events — show timeline

• 2026-02-10 Pending — CNYIS
• 2026-02-05 Price Changed $89,900 CNYIS
• 2026-01-13 Price Changed $94,900 CNYIS
• 2025-11-25 Price Changed $99,900 CNYIS
• 2025-11-16 Price Changed $105,000 CNYIS
• 2025-10-30 Listed $114,900 CNYIS

Property tax history

+1.2%/yr

Latest (2025): $2,488 · -1.7% YoY. Source: county tax records.