388 Grannis Rd · Constantia, NY 13167

$269,900

3 bd · 1.0 ba · 2,790 sqft · SingleFamily public records · 10 Days on market

Built 1984 2.57 ac lot $97/sqft · 24% below area Est $357k · 24% under

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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 +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +4.3/30.0
• Schools +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.8/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Spacious ranch home with 4B 2B, nestled in nature with privacy and quiet. Corner lot property is across from undeveloped woods. Large wood stove in family room for those cozy winter days. Two bonus rooms for home office and recreation room. New furnace recently installed. Slab foundation. Heated two car garage with workshop space has an upstairs in-law apartment adding an additional 1B 1B. Driveway accommodates numerous vehicles. House has been meticulously cared for through the years. There are a few repairs/updates remaining to be done. House is being sold in as-is condition awaiting your finishing touch. We are currently emptying out the home. More pictures will be coming soon. House is available for showing to pre-approved parties.

Key facts

• Primary suite
• Large picture window
• Bonus space

Tags

• PRIMARY SUITE
• JACUZZI TUB
• BONUS SPACE
• EAT-IN KITCHEN
• LARGE PICTURE WINDOW
• FIRST-FLOOR LAUNDRY

Property features AI

Exterior

• Parking: Attached heated garage with electric and garage door opener (2 garage spaces)
• Utilities: Well water; Septic tank; Cable available; High-speed internet available
• Home design: Single-story home; Existing construction; Wood siding; Metal roof; Poured and slab foundation; Corner lot; Rectangular, wooded, rural lot (approx. 2.57 acres, dimensions 326 x 312)
• Construction: Wood siding construction; Metal roof; Poured foundation; Slab foundation; Attic/crawl hatchway(s) insulated
• Exterior features: Balcony; Deck; Gravel driveway; Hot tub / spa; Barns; Outbuilding; Shed(s); Storage; Garage apartment

Interior

• Kitchen: Convection oven; Electric cooktop; Electric oven; Electric range; Dishwasher; Refrigerator
• Bedrooms: Four main-level bedrooms
• Flooring: Carpet; Tile; Vinyl; Varies
• Bathrooms: Three full bathrooms; Two main-level bathrooms
• Heating & cooling: Electric heating; Propane heating; Baseboard heating; Multiple heating units; Has heating
• Interior features: Entrance foyer; Eat-in kitchen; Separate/formal living room; Second kitchen; In-law floorplan; Main level primary suite; Bedroom on main level; Accessible entrance; No stairs; Low-threshold shower; See remarks
• Laundry & utility: Washer; Dryer; Main-level laundry; Accessible utilities or laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $270k.

Deal economics

• At list price, monthly cash flow is $-725 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $142k (47.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $157k (41.7% below list).
• Recommended offer: $142k (47.5% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 65/100 on livability (#672 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety D-.
• Central Square Central School District (suburban): math 40% / reading 40% proficiency, ranked #507 of 590 in NY (top 86%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Aura A Cole Elementary School (math 37% / reading 37%, grade F, #1,519 of 2,108 statewide, top 74%, 401 students, 56% FRL); Central Square Middle School (math 19% / reading 35%, grade F, #587 of 729 statewide, top 81%, 833 students, 45% FRL); Paul V Moore High School (math 91% / reading 75%, grade A, #440 of 1,100 statewide, top 40%, 1,101 students, 44% FRL) — zoned schools average 48% FRL vs 33% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 25 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 $29k of equity ($2k loan paydown + $27k appreciation (10.0% local appreciation)).
• Oswego County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $90k; list at $270k implies a 200% gain — meaningful room to come down on a strong offer.

Recommended offer $141,798 (47.5% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.58% ✗
• Cap rate: 3.07%
• Cash-on-cash: -11.51%
• DSCR: 0.49
• GRM: 14.3

CMA / ARV

• ARV (median comp): $357,448
• List price: $269,900
• Delta: -6.28%
• Verdict: FAIR
• Comps: 2 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.2%
• Equity multiple: 2.34×
• Total profit: $100,896
• Equity at exit: $243,147

10-year hold

• IRR: 15.6%
• Equity multiple: 5.41×
• Total profit: $333,615
• Equity at exit: $524,356

Cash invested: $75,572 (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 13167

• Home prices YoY: 9.9%
• Active inventory: 25
• Price-to-rent: 14.3×

Monthly cashflow live

• Estimated rent: $1,573 medium
• Mortgage (P&I): −$1,415
• Tax from tax record: −$440 /mo · $5,281/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $-725

Break-even live

Break-even rent $2,491

Max offer price $141,798

Occupancy floor —

Sensitivity live

Price	-10% $-572	-5% $-649	+0% $-725	+5% $-802	+10% $-878
Rent	-10% $-849	-5% $-787	+0% $-725	+5% $-663	+10% $-601
Rate	-1.0pp $-589	-0.5pp $-657	base $-725	+0.5pp $-795	+1.0pp $-866

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: $67,475
• Closing costs: $8,097
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-22
   days on market $269,900 Active 10 DOM
2. 2026-06-21
   days on market $269,900 Active 9 DOM
3. 2026-06-21
   days on market $269,900 Active 8 DOM
4. 2026-06-18
   days on market $269,900 Active 6 DOM
5. 2026-06-17
   days on market $269,900 Active 5 DOM
6. 2026-06-16
   days on market $269,900 Active 4 DOM
7. 2026-06-15
   days on market $269,900 Active 3 DOM
8. 2026-06-13
   pricedays on marketlisting id $269,900 Active 1 DOM
9. 2026-06-12
   days on market $335,000 Active 218 DOM
10. 2026-06-09
    days on market $335,000 Active 215 DOM
11. 2026-06-08
    days on market $335,000 Active 214 DOM
12. 2026-06-07
    days on market $335,000 Active 213 DOM
13. 2026-06-07
    days on market $335,000 Active 212 DOM
14. 2026-06-04
    days on market $335,000 Active 209 DOM
15. 2026-06-02
    days on market $335,000 Active 208 DOM
16. 2026-06-01
    days on market $335,000 Active 207 DOM
17. 2026-05-31
    days on market $335,000 Active 206 DOM
18. 2025-11-06
    listed $335,000 Active 746-char remark

    Show marketing remark (746 chars)

    Spacious ranch home with 4B 2B, nestled in nature with privacy and quiet. Corner lot property is across from undeveloped woods. Large wood stove in family room for those cozy winter days. Two bonus rooms for home office and recreation room. New furnace recently installed. Slab foundation. Heated two car garage with workshop space has an upstairs in-law apartment adding an additional 1B 1B. Driveway accommodates numerous vehicles. House has been meticulously cared for through the years. There are a few repairs/updates remaining to be done. House is being sold in as-is condition awaiting your finishing touch. We are currently emptying out the home. More pictures will be coming soon. House is available for showing to pre-approved parties.

19. 1998-11-23
    soldstatus $89,900

ⓘ 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: $5,281 · $440/mo
• Projected year-2 tax: $5,281 · $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 ≥94°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: $18,878
• − Mortgage interest: −$15,119
• − Property taxes: −$5,281
• − Insurance: −$1,350
• − Repairs & maintenance: −$1,510
• − Management: −$1,510
• − Depreciation: −$7,852
• Taxable loss: −$13,744
• Est. tax savings @ 24.0%: +$3,298
• After-tax cash flow: $-5,403/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: Central Square Central School District
• NCES district ID: 3606900
• Math proficiency: 40% ▼ -18.00%
• Reading proficiency: 40% ▼ -12.00%
• Median HH income: $55,807
• Composite: 35.05/100
• National rank: #5035
• State rank: #507 of 590 in NY

Livability — Constantia

• Score: 65/100
• State rank: #672
• US rank: #12597

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,984

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 (96%)
• Race & ethnicity: White 96% Two or more races 3%
• Common ancestry: Lithuanian 8% Romanian 7% Iranian 6%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 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: ▲ 29.53%
• Current HPI: 327.9799
• 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

+200.2% since first listed

3 events — show timeline

• 2026-06-12 Listed $269,900 CNYIS
• 2025-11-06 Listed $335,000 ForSaleByOwner.com
• 1998-11-23 Sold (Public Records) $89,900 Public Records

Property tax history

+2.8%/yr

Latest (2025): $5,281 · +5.6% YoY. Source: county tax records.