1871 E Lake Rd · Skaneateles, NY 13152

$275,000

3 bd · 1.5 ba · 1,310 sqft · SingleFamily public records · 29 Days on market

Built 1887 0.49 ac lot Est $369k · 26% 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 +17.8/30.0
• ARV discount +15.0/15.0
• Schools +6.9/10.0
• DSCR +5.6/10.0
• 1% rule +4.1/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 3 bedroom 1.5 bath home features a country kitchen with vaulted ceiling, living room with wood burning fireplace, formal dining room, laundry/mudroom and enclosed porch. Work completed in 2021: New furnace, electric panel, floor covering, interior paint, kitchen, bath and UV System for the well. Barn is used used as the two car garage.

Key facts

• Spacious barn
• Natural light
• Enclosed porch

Tags

• UPDATED COUNTRY-STYLE KITCHEN
• ENCLOSED PORCH
• SPACIOUS BARN
• VAULTED CEILINGS
• SKYLIGHT
• NATURAL LIGHT

Property features AI

Exterior

• Parking: Detached garage; Two garage spaces
• Utilities: Well water; Septic tank
• Home design: Single-story home; Resale property
• Construction: Wood siding; Stone foundation; Existing construction
• Exterior features: Gravel driveway; Leased propane tank

Interior

• Kitchen: Dishwasher; Electric oven; Electric range; Refrigerator
• Bedrooms: One main-level bedroom
• Flooring: Carpet; Hardwood; Luxury vinyl; Varied flooring
• Bathrooms: One full bathroom; One half bathroom; One main-level bathroom
• Heating & cooling: Propane forced-air heating
• Interior features: Country kitchen; Combined living and dining room; Bedroom on main level; Full basement
• Laundry & utility: Main-level laundry; Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $225 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $251k (8.5% below list).
• Recommended offer: $251k (8.5% below list) — sets the bar for 1% rule.
• Cap rate 7.3% vs local median 2.0% in Skaneateles — 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 79/100 on livability (#148 in NY, #2,279 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F, cost of living F.
• Skaneateles Central School District (town): math 78% / reading 77% proficiency, ranked #65 of 590 in NY (top 11%) — strong family-tenant draw, lease renewals of 3-5y typical; only 7% free/reduced lunch — higher-income household profile.
• Market conditions: 69 active listings in the ZIP; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Onondaga County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($271k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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 $220k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1887 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $251,492 (8.5% below list)

Questions for the listing agent

1. Built in 1887 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-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?
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: 0.91% ✗
• Cap rate: 7.27%
• Cash-on-cash: 3.50%
• DSCR: 1.16
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $369,420
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1923 E Lake Rd	0.27mi	3/2.0	1,152 (-12%)	12mo	$325,000	$282	55

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -10.8%
• Equity multiple: 0.61×
• Total profit: $-30,286
• Equity at exit: $41,003

10-year hold

• IRR: -1.5%
• Equity multiple: 0.89×
• Total profit: $-8,121
• Equity at exit: $23,777

Cash invested: $77,000 (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 13152

• Home prices YoY: -16.5%
• Active inventory: 69
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,515 medium
• Mortgage (P&I): −$1,442
• Tax from tax record: −$205 /mo · $2,462/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$528
• Net cashflow: $225

Break-even live

Break-even rent $2,230

Max offer price $275,000

Occupancy floor 86%

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $275,000 Active 29 DOM
2. 2026-06-18
   days on market $275,000 Active 28 DOM
3. 2026-06-17
   days on market $275,000 Active 27 DOM
4. 2026-06-16
   days on market $275,000 Active 26 DOM
5. 2026-06-15
   days on market $275,000 Active 25 DOM
6. 2026-06-14
   days on market $275,000 Active 23 DOM
7. 2026-06-12
   days on market $275,000 Active 22 DOM
8. 2026-06-09
   days on market $275,000 Active 19 DOM
9. 2026-06-08
   days on market $275,000 Active 18 DOM
10. 2026-06-07
    days on market $275,000 Active 17 DOM
11. 2026-06-02
    days on market $275,000 Active 12 DOM
12. 2026-06-01
    days on market $275,000 Active 11 DOM
13. 2026-05-31
    days on market $275,000 Active 10 DOM
14. 2026-05-30
    days on market $275,000 Active 9 DOM
15. 2026-05-21
    listed $275,000 Active
16. 2024-07-30
    soldstatus $220,000 Closed 342-char remark

    Show marketing remark (342 chars)

    This 3 bedroom 1.5 bath home features a country kitchen with vaulted ceiling, living room with wood burning fireplace, formal dining room, laundry/mudroom and enclosed porch. Work completed in 2021: New furnace, electric panel, floor covering, interior paint, kitchen, bath and UV System for the well. Barn is used used as the two car garage.

17. 2024-04-02
    status Pending 342-char remark

    Show marketing remark (342 chars)

    This 3 bedroom 1.5 bath home features a country kitchen with vaulted ceiling, living room with wood burning fireplace, formal dining room, laundry/mudroom and enclosed porch. Work completed in 2021: New furnace, electric panel, floor covering, interior paint, kitchen, bath and UV System for the well. Barn is used used as the two car garage.

18. 2024-03-20
    historical Active Under Contract 342-char remark

    Show marketing remark (342 chars)

    This 3 bedroom 1.5 bath home features a country kitchen with vaulted ceiling, living room with wood burning fireplace, formal dining room, laundry/mudroom and enclosed porch. Work completed in 2021: New furnace, electric panel, floor covering, interior paint, kitchen, bath and UV System for the well. Barn is used used as the two car garage.

19. 2024-03-01
    status Active 342-char remark

    Show marketing remark (342 chars)

    This 3 bedroom 1.5 bath home features a country kitchen with vaulted ceiling, living room with wood burning fireplace, formal dining room, laundry/mudroom and enclosed porch. Work completed in 2021: New furnace, electric panel, floor covering, interior paint, kitchen, bath and UV System for the well. Barn is used used as the two car garage.

20. 2023-12-28
    status Pending 342-char remark

    Show marketing remark (342 chars)

    This 3 bedroom 1.5 bath home features a country kitchen with vaulted ceiling, living room with wood burning fireplace, formal dining room, laundry/mudroom and enclosed porch. Work completed in 2021: New furnace, electric panel, floor covering, interior paint, kitchen, bath and UV System for the well. Barn is used used as the two car garage.

21. 2023-12-15
    listed $214,900 Active 342-char remark

    Show marketing remark (342 chars)

    This 3 bedroom 1.5 bath home features a country kitchen with vaulted ceiling, living room with wood burning fireplace, formal dining room, laundry/mudroom and enclosed porch. Work completed in 2021: New furnace, electric panel, floor covering, interior paint, kitchen, bath and UV System for the well. Barn is used used as the two car garage.

ⓘ 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: $2,462 · $205/mo
• Projected year-2 tax: $3,555 · $296/mo
• Expected delta: +$1,093/yr (+$91/mo · 44.4%)

ⓘ 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 ≥92°F today · 16 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: $30,179
• − Mortgage interest: −$15,404
• − Property taxes: −$2,462
• − Insurance: −$1,375
• − Repairs & maintenance: −$2,414
• − Management: −$2,414
• − Depreciation: −$8,000
• Taxable loss: −$1,891
• Est. tax savings @ 24.0%: +$454
• After-tax cash flow: $3,152/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: Skaneateles Central School District
• NCES district ID: 3626940
• Math proficiency: 78% ▼ -1.00%
• Reading proficiency: 77% ▲ 5.00%
• Median HH income: $81,561
• Composite: 68.61/100
• National rank: #340
• State rank: #65 of 590 in NY

Livability — Skaneateles

• Score: 79/100
• State rank: #148
• US rank: #2279

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,548

Population outlook (Onondaga County) Hauer SSP2

• Today (2025): 467,894 people
• By 2030: 463,381 · -1.0%
• By 2040: 447,697 · -4.3%
• By 2050: 426,399 · -8.9%
• By 2075: 373,661 · -20.1%
• By 2100: 307,967 · -34.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 3%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · Spanish 2% Russian/Polish/Slavic 1% German/W. Germanic 0%

Political lean MEDSL · Onondaga

• 2024 margin: D (+17.3) · D 58.6% · R 41.4%
• 2008→2024 swing: -3.0pp toward R · 2008: 20.3pp · 2024: 17.3pp
• All cycles: 2024: D+17.3 2020: D+20.6 2016: D+12.8 2012: D+21.1 2008: D+20.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -83.82%
• Current HPI: 424.2545
• 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

+28.0% since first listed

7 events — show timeline

• 2026-05-21 Listed $275,000 CNYIS
• 2024-07-30 Sold (MLS) $220,000 CNYIS
• 2024-04-02 Pending — CNYIS
• 2024-03-20 Contingent — CNYIS
• 2024-03-01 Relisted — CNYIS
• 2023-12-28 Pending — CNYIS
• 2023-12-15 Listed $214,900 CNYIS

Property tax history

+0.0%/yr

Latest (2025): $2,462 · -3.6% YoY. Source: county tax records.