12 Cross Ave · Morrisville, NY 13408

$139,900

2 bd · 1.0 ba · 1,196 sqft · SingleFamily public records · 25 Days on market

Built 1862 0.25 ac lot Est $257k · 46% 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).

• ARV discount +15.0/15.0
• Cash flow +9.1/30.0
• Appreciation +8.1/10.0
• Schools +5.6/10.0
• Livability +3.7/5.0
• 1% rule +3.2/10.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to this charming Historic Landmark home in the heart of the Village of Morrisville. Offering timeless character, this property features a generously sized lot and a highly convenient location close to village shops, dining, and schools. The Morrisville Historic Preservation Commission designated this home as a Historic Landmark and placed a plaque on the front of the property. The spacious kitchen features warm wooden cabinetry and ample room for cooking and entertaining, with space for an eat-in table. Just off the kitchen, an impressive sunroom with a vaulted ceiling provides a bright and inviting retreat filled with natural light. The front living room is cozy and welcoming, whil

Key facts

• Impressive sunroom
• Generously sized lot
• Vaulted ceiling

Tags

• GENEROUSLY SIZED LOT
• HIGHLY CONVENIENT LOCATION
• IMPRESSIVE SUNROOM
• VAULTED CEILING
• FIRST-FLOOR LAUNDRY
• BUILT-IN STORAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $-108 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $121k (13.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $115k (18.1% below list).
• Recommended offer: $115k (18.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 74/100 on livability (#291 in NY, #4,741 nationally) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, housing A; Watch: amenities F, commute F.
• Morrisville-Eaton Central School District (rural): math 59% / reading 72% proficiency, ranked #177 of 590 in NY (top 30%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Edward R Andrews Elementary School (math 37% / reading 57%, grade D-, #1,195 of 2,108 statewide, top 60%, 307 students, 57% FRL); Morrisville Middle School High School (math 77% / reading 82%, grade A-, #518 of 1,100 statewide, top 51%, 291 students, 54% FRL).
• Market conditions: 17 active listings in the ZIP; 137 units permitted in Madison County in 2024 (46 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($967 loan paydown + $9k appreciation (6.2% local appreciation)).
• Madison County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 4, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1862 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $114,518 (18.1% 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. Built in 1862 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.82% ✗
• Cap rate: 5.37%
• Cash-on-cash: -3.30%
• DSCR: 0.85
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $257,140
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
71 W Main St	0.10mi	3/1.0 (+1)	1,139 (-5%)	2mo	$179,900	$158	81
3 Williams St	0.17mi	3/2.0 (+1)	1,260 (+5%)	20mo	$271,000	$215	58

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

Projected returns pro-forma

6.23% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.3%
• Equity multiple: 1.91×
• Total profit: $35,492
• Equity at exit: $89,979

10-year hold

• IRR: 13.8%
• Equity multiple: 3.79×
• Total profit: $109,374
• Equity at exit: $164,957

Cash invested: $39,172 (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 13408

• Home prices YoY: 2.3%
• Active inventory: 17
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,145 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$220 /mo · $2,645/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$240
• Net cashflow: $-108

Break-even live

Break-even rent $1,281

Max offer price $120,884

Occupancy floor —

Sensitivity live

Price	-10% $-28	-5% $-68	+0% $-108	+5% $-147	+10% $-187
Rent	-10% $-198	-5% $-153	+0% $-108	+5% $-62	+10% $-17
Rate	-1.0pp $-37	-0.5pp $-72	base $-108	+0.5pp $-144	+1.0pp $-181

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-03-16
   status Pending
2. 2026-03-05
   historical Active Under Contract
3. 2026-02-19
   listed $139,900 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: $2,645 · $220/mo
• Projected year-2 tax: $2,645 · $220/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 4/10 Moderate FEMA zone X · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥91°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 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: $13,742
• − Mortgage interest: −$7,837
• − Property taxes: −$2,645
• − Insurance: −$700
• − Repairs & maintenance: −$1,099
• − Management: −$1,099
• − Depreciation: −$4,070
• Taxable loss: −$3,707
• Est. tax savings @ 24.0%: +$890
• After-tax cash flow: $-402/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: Morrisville-Eaton Central School District
• NCES district ID: 3619920
• Math proficiency: 59% ▲ 12.00%
• Reading proficiency: 72% ▲ 17.00%
• Median HH income: $49,688
• Composite: 55.56/100
• National rank: #1239
• State rank: #177 of 590 in NY

Livability — Morrisville

• Score: 74/100
• State rank: #291
• US rank: #4741

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Morrisville, NY
• Population (ZIP): 3,422

Population outlook (Madison County) Hauer SSP2

• Today (2025): 69,528 people
• By 2030: 66,599 · -4.2%
• By 2040: 59,814 · -14.0%
• By 2050: 52,842 · -24.0%
• By 2075: 39,167 · -43.7%
• By 2100: 28,442 · -59.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Asian 7% Black 5% Hispanic / Latino 5% Two or more races 3%
• Common ancestry: Danish 3% Polish 2% Slovak 2%
• Foreign-born: 5% · China, Canada, South Korea
• Languages at home: 87% English-only · German/W. Germanic 4% Spanish 3% Chinese 2%

Political lean MEDSL · Madison

• 2024 margin: R (+13.1) · D 43.5% · R 56.5%
• 2008→2024 swing: -13.9pp toward R · 2008: 0.9pp · 2024: -13.1pp
• All cycles: 2024: R+13.1 2020: R+10.6 2016: R+15.9 2012: D+0.3 2008: D+0.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.23%
• Current HPI: 275.2987
• 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

3 events — show timeline

• 2026-03-16 Pending — CNYIS
• 2026-03-05 Contingent — CNYIS
• 2026-02-19 Listed $139,900 CNYIS

Property tax history

+8.0%/yr

Latest (2025): $2,645 · +2.0% YoY. Source: county tax records.