10537 Spook Woods Rd · Cato, NY 13140

$10,000

4 bd · 2.0 ba · 1,960 sqft · Manufactured public records · 5 Days on market

Built 1997 $5/sqft · 96% below area

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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 +15.0/30.0
• Appreciation +9.5/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Opportunity awaits with this spacious 4-bedroom, 2-bath manufactured home situated on a sprawling 13.4-acre property! Offering approximately 1,960 square feet of living space, this home is ready for your vision and updates to bring it back to life. Ideal for investors, contractors, or buyers looking to create their own private retreat, the expansive acreage provides endless possibilities for recreation, farming, horses, equipment storage, or future improvements. Enjoy the peace and privacy of country-style living while still being within reach of local amenities. With solid potential, generous room sizes, and a rare oversized lot, this is a unique chance to own a large parcel with tremendou

Key facts

• Expansive acreage
• Large parcel
• Built 1997

Tags

• SPRAWLING 13.4-ACRE PROPERTY
• EXPANSIVE ACREAGE
• LARGE PARCEL

Property features AI

Finance

• Other: Living area reported as 1,960 (from public records)

Exterior

• Parking: Driveway; No carport
• Utilities: Electricity available; No sewer listed
• Home design: Manufactured house
• Construction: Living area reported from public records
• Exterior features: Not waterfront; Mobile home with land

Interior

• Kitchen: No appliances listed
• Bedrooms: At least one bedroom on the first floor
• Bathrooms: 2 full bathrooms
• Heating & cooling: No heating; No cooling
• Interior features: First-floor bedroom; Attic (see remarks); 6 total rooms
• Laundry & utility: No laundry appliances listed

🏷️ Possibly a rental listed for sale. The $10,000 price doesn't fit this home's estimated sale value (~$244,350) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $10k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $10k).

Location & tenants

• Location reads 64/100 on livability (#764 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: crime F, amenities F, commute F.
• Cato-Meridian Central School District (rural): math 43% / reading 58% proficiency, ranked #364 of 590 in NY (top 62%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Cato-Meridian Elementary School (math 39% / reading 58%, grade D, #1,181 of 2,108 statewide, top 56%, 489 students, 46% FRL); Cato-Meridian Junior-Senior High School (math 47% / reading 57%, grade D+, #946 of 1,100 statewide, top 88%, 378 students, 47% FRL).
• Market conditions: 10 active listings in the ZIP; 161 units permitted in Cayuga County in 2024 (65 in 5+ unit buildings).

Forward outlook

• In year one you build about $964 of equity ($69 loan paydown + $895 appreciation (8.9% local appreciation)).
• Cayuga County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.9% appreciation + 3.0% rent growth), your $3k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $10,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 14.48% ✓
• Cap rate: 135.31%
• Cash-on-cash: 460.76%
• DSCR: 21.50
• GRM: 0.6

CMA / ARV

• ARV (median comp): $244,350
• List price: $10,000
• Delta: -95.91%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

8.95% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 27.15×
• Total profit: $73,233
• Equity at exit: $8,255

10-year hold

• IRR: —
• Equity multiple: 58.76×
• Total profit: $161,714
• Equity at exit: $17,057

Cash invested: $2,800 (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 13140

• Home prices YoY: 2.7%
• Active inventory: 10
• Price-to-rent: 0.6×

Monthly cashflow live

• Estimated rent: $1,448 medium
• Mortgage (P&I): −$52
• Tax est. 1.5%: −$12 /mo · $150/yr
• Insurance: −$4
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $1,075

Break-even live

Break-even rent $87

Max offer price $10,000

Occupancy floor 21%

Sensitivity live

Price	-10% $1,082	-5% $1,079	+0% $1,075	+5% $1,072	+10% $1,068
Rent	-10% $961	-5% $1,018	+0% $1,075	+5% $1,132	+10% $1,190
Rate	-1.0pp $1,080	-0.5pp $1,078	base $1,075	+0.5pp $1,073	+1.0pp $1,070

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: $2,500
• Closing costs: $300
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-13
   listed $10,000 Active 725-char remark
2. 2001-08-31
   soldstatus $20,000
3. 1997-11-05
   soldstatus $25,400

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,380
• − Mortgage interest: −$560
• − Property taxes: −$150
• − Insurance: −$50
• − Repairs & maintenance: −$1,390
• − Management: −$1,390
• − Depreciation: −$291
• Taxable income: $13,549
• Est. tax owed @ 24.0%: −$3,252
• After-tax cash flow: $9,650/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: Cato-Meridian Central School District
• NCES district ID: 3606690
• Math proficiency: 43% ▼ -12.00%
• Reading proficiency: 58% ▲ 15.00%
• Median HH income: $56,309
• Composite: 43.75/100
• National rank: #2947
• State rank: #364 of 590 in NY

Livability — Cato

• Score: 64/100
• State rank: #764
• US rank: #14690

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,192

Population outlook (Cayuga County) Hauer SSP2

• Today (2025): 74,820 people
• By 2030: 72,402 · -3.2%
• By 2040: 66,917 · -10.6%
• By 2050: 61,007 · -18.5%
• By 2075: 48,047 · -35.8%
• By 2100: 34,512 · -53.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 6% Iranian 3% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Cayuga

• 2024 margin: R (+13.0) · D 43.5% · R 56.5%
• 2008→2024 swing: -21.5pp toward R · 2008: 8.5pp · 2024: -13.0pp
• All cycles: 2024: R+13.0 2020: R+9.2 2016: R+13.2 2012: D+10.8 2008: D+8.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.95%
• Current HPI: 340.1023
• 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

-60.6% since first listed

4 events — show timeline

• 2026-05-20 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-05-13 Listed $10,000 OneKey® MLS as Distributed by MLS Grid
• 2001-08-31 Sold (Public Records) $20,000 Public Records
• 1997-11-05 Sold (Public Records) $25,400 Public Records

Property tax history

+3.4%/yr

Latest (2025): $3,566 · +3.2% YoY. Source: county tax records.