31 Garfield StCortlandNY13045
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in Cortland at 31 Garfield St, Cortland, NY, 13045 priced at $119,900 converts $1,229/mo rent into $428/mo cash flow after a $587/mo obligation. Total monthly income equals $1,229/mo, and annual cash flow totals $5,138/yr on $39,747 invested. Return on cash invested prints 32.84% in year one, and rental yield reads 12.3% against a $119,900 entry. Equity gained on principal adds $774/yr, while 5% annual appreciation compiles into $33,126 by year five. Five-year ROI reaches 172.93% and total cumulative return in cash sums $68,736. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,229/mo property income covering a $587/mo payment, not borrower’s personal income.
Multi Family
Built in 1885
6,721 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 13045, Cortland, NY area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,694 (100%) |
| Owner Occupied HU | 6,164 (48.6%) |
| Renter Occupied HU | 4,871 (38.4%) |
| Vacant Housing Units | 1,659 (13.1%) |
| Median Home Value | $174,845 |
| Average Home Value | $236,162 |
Housing Distribution
Address Breakdown
Residential
11,473
Single Family
9,631
Multi-Family
1,842
Businesses
1,010
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