6985 Stearns Rd · Rome, NY 13440

$25,000

5 bd · 1.0 ba · 1,380 sqft · SingleFamily public records · 69 Days on market

Built 1953 0.96 ac lot $18/sqft · 48% below area Est $48k · 48% 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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits with this nearly 1 acre property. Based on public records, it is believed to have access to public water, electricity and gas. There is a structure of the property that the condition is assumed to be a tear down.

Key facts

• 0.96 acre lot
• Built 1953
• Listed 69 days

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $25k).
• Recommended offer: $24k (6.0% below list) — sets the bar for market timing.
• Cap rate 61.4% vs local median 5.6% in Rome — 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 64/100 on livability (#722 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools F, amenities F.
• Oriskany Central School District (suburban): math 52% / reading 56% proficiency, ranked #314 of 590 in NY (top 53%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 272 active listings in the ZIP; 204 units permitted in Oneida County in 2024 (68 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $173 of loan paydown is wiped out by about $750 of value loss. Plan a longer hold.
• Oneida County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($24k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 4.8% of price; built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $23,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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.
8. 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.
9. 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: 7.03% ✓
• Cap rate: 61.37%
• Cash-on-cash: 196.69%
• DSCR: 9.75
• GRM: 1.2

CMA / ARV

• ARV (median comp): $48,000
• List price: $25,000
• Delta: -47.92%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 10.87×
• Total profit: $69,093
• Equity at exit: $3,728

10-year hold

• IRR: —
• Equity multiple: 23.08×
• Total profit: $154,540
• Equity at exit: $2,162

Cash invested: $7,000 (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 13440

• Home prices YoY: -8.0%
• Active inventory: 272
• Price-to-rent: 1.2×

Monthly cashflow live

• Estimated rent: $1,758 medium
• Mortgage (P&I): −$131
• Tax from tax record: −$100 /mo · $1,204/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $1,147

Break-even live

Break-even rent $306

Max offer price $25,000

Occupancy floor 30%

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $25,000 Active 69 DOM
2. 2026-06-17
   days on market $25,000 Active 68 DOM
3. 2026-06-16
   days on market $25,000 Active 67 DOM
4. 2026-06-15
   days on market $25,000 Active 66 DOM
5. 2026-06-13
   days on market $25,000 Active 64 DOM
6. 2026-06-12
   days on market $25,000 Active 63 DOM
7. 2026-06-09
   days on market $25,000 Active 60 DOM
8. 2026-06-08
   days on market $25,000 Active 59 DOM
9. 2026-06-07
   days on market $25,000 Active 58 DOM
10. 2026-06-07
    days on market $25,000 Active 57 DOM
11. 2026-06-04
    days on market $25,000 Active 54 DOM
12. 2026-06-02
    days on market $25,000 Active 53 DOM
13. 2026-06-01
    days on market $25,000 Active 52 DOM
14. 2026-05-31
    days on market $25,000 Active 51 DOM
15. 2026-04-10
    listed $25,000 Active 231-char remark

    Show marketing remark (231 chars)

    Opportunity awaits with this nearly 1 acre property. Based on public records, it is believed to have access to public water, electricity and gas. There is a structure of the property that the condition is assumed to be a tear down.

ⓘ 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: $1,204 · $100/mo
• Projected year-2 tax: $1,204 · $100/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 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,102
• − Mortgage interest: −$1,400
• − Property taxes: −$1,204
• − Insurance: −$125
• − Repairs & maintenance: −$1,688
• − Management: −$1,688
• − Depreciation: −$727
• Taxable income: $14,269
• Est. tax owed @ 24.0%: −$3,424
• After-tax cash flow: $10,344/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: Oriskany Central School District
• NCES district ID: 3621960
• Math proficiency: 52% ▼ -10.00%
• Reading proficiency: 56% ▲ 4.00%
• Median HH income: $55,286
• Composite: 46.6/100
• National rank: #2419
• State rank: #314 of 590 in NY

Livability — Rome

• Score: 64/100
• State rank: #722
• US rank: #13676

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 41,418
• Population (ZIP): 41,273

Population outlook (Oneida County) Hauer SSP2

• Today (2025): 225,223 people
• By 2030: 220,384 · -2.1%
• By 2040: 209,071 · -7.2%
• By 2050: 197,920 · -12.1%
• By 2075: 175,541 · -22.1%
• By 2100: 148,491 · -34.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 7% Two or more races 6% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Romanian 9% Lithuanian 4% Slovak 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 1%

Political lean MEDSL · Oneida

• 2024 margin: Strong R (+21.3) · D 39.4% · R 60.6%
• 2008→2024 swing: -15.2pp toward R · 2008: -6.1pp · 2024: -21.3pp
• All cycles: 2024: R+21.3 2020: R+15.5 2016: R+21.1 2012: R+5.3 2008: R+6.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -29.58%
• Current HPI: 339.3589
• 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

1 event — show timeline

• 2026-04-10 Listed $25,000 CNYIS

Property tax history

+7.8%/yr

Latest (2025): $1,204 · -2.0% YoY. Source: county tax records.