Real Estate Investing in Cortland, New York (13045)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 13045 (Cortland, NY)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 11.1% vacancy may signal weakening demand.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
What’s happening in Cortland, NY (13045)?
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Market Analysis: 13045 Cortland
The 13045 ZIP covers a section of Cortland that demands careful diligence. Prices near $210K look accessible, but the work to make a deal cash flow is real.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $210K asset, 13045 is the wrong submarket. If the plan prices in friction, the yield can still work.
Within NY, ZIP 13045 trails on several market indicators that neighboring Cortland County submarkets outperform. The gap is real and notable enough to shape underwriting.
Who lives in 13045 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Experienced landlords with local relationships tend to find 13045 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Cortland:
Property Strategy for 13045
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $124,018 | $1,350 | 7.8% | +8.5% | $124,018 |
| 2BR | $162,047 | $1,540 | 6.8% | +8.2% | $81,024 |
| 3BR | $197,929 | $1,850 | 6.7% | +7.9% | $65,976 |
| 4BR | $227,734 | $2,120 | 6.7% | +8.0% | $56,933 |
| 5BR | $250,867 | — | — | +7.1% | $50,173 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 13045 Compare?
| Metric | 13045 | Cortland | Cortland, NY | New York |
|---|---|---|---|---|
| Home Value | $210,494 | $210,494 | N/A | $505,608 |
| 5-Year CAGR | 7.0% | 7.0% | N/A | 6.6% |
| Avg Rent | $1,309 | $1,309 | N/A | - |
| Cap Rate | 4.9% | 4.9% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 13045 (Cortland, NY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $210,494 |
| Monthly Rent | $1,309 |
| Price-to-Rent | 13.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.5% |
| Cap Rate | 4.9% |
| 5-Year IRR | 11.8% |
📈 Home Appreciation
| 1-Year | +9.4% ▲ |
| 3-Year CAGR | +6.7% ▲ |
| 5-Year CAGR | +7.0% ▲ |
| 10-Year CAGR | +6.1% ▲ |
🏠 Rent Trends
| 1-Year | +0.5% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.9%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 13045
Population: 28,388
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 13045
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,184 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How should investors approach Cortland, NY?
In Cortland, NY the impressive play is typically careful cash-flow rentals with hands-on management. The combination of $210K prices and $1,309/mo rents suits that approach.
What is the average monthly rent in Cortland, NY?
Expect rents around $1,309/mo per month in Cortland, NY. With home values at $210K, the yield math works out to reasonable levels for rental investors.
What is the typical renter like in Cortland, NY?
Tenant quality in Cortland, NY ranks as solid. Landlords generally report even-keeled occupancy at market rents of $1,309/mo.
Is Cortland, NY a good market for FHA house hackers?
Cortland, NY is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $210K price point reasonable to enter.
How does Cortland, NY rate as a rental market?
Cortland, NY rates 3.0/5 for investability. With median values at $210K and rents near $1,309/mo, the market offers reasonable fundamentals for rental investors.
You know 13045 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 13045 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 13045 ranks in Cortland, NY
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