104 S Madison St · Rome, NY 13440

$40,000

2 bd · 1.0 ba · 1,896 sqft · SingleFamily public records · 182 Days on market

Built 1896 2,614 sqft lot ↓ 33% since listing

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• 2,614 sq ft lot
• Built 1896
• Listed 182 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $590 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $35k (12.0% below list) — sets the bar for market timing.
• Cap rate 24.0% vs local median 5.7% 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.
• Rome City School District (town): math 35% / reading 46% proficiency, ranked #516 of 590 in NY (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 278 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $277 of loan paydown is wiped out by about $1k 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 $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 182 days — a 12% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 26y ago; this cycle's ask has dropped $30k (43%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.9% of price; built in 1896 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $35,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 182 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1896 — 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: 3.00% ✓
• Cap rate: 24.01%
• Cash-on-cash: 63.26%
• DSCR: 3.81
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $115,656
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
104 S Madison St	0.00mi	2/1.0	1,896 (0%)	1mo	$24,000	$13	99
221 S Jay St	0.24mi	3/1.0 (+1)	1,804 (-5%)	7mo	$102,000	$57	70
711 S James St	0.67mi	2/1.0	1,906 (+0%)	2mo	$116,000	$61	66
402 N Jay St	0.36mi	3/1.5 (+1)	1,737 (-8%)	3mo	$149,900	$86	60
217 Ridge St	0.31mi	3/2.0 (+1)	1,715 (-10%)	17mo	$149,200	$87	47
743 W Court St	0.60mi	3/2.5 (+1)	1,712 (-10%)	2mo	$80,000	$47	43
617 N Jay St	0.66mi	3/2.0 (+1)	1,681 (-11%)	8mo	$180,000	$107	35

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: 62.3%
• Equity multiple: 3.78×
• Total profit: $31,191
• Equity at exit: $5,964

10-year hold

• IRR: 66.9%
• Equity multiple: 7.77×
• Total profit: $75,858
• Equity at exit: $3,458

Cash invested: $11,200 (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: 278
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,200 medium
• Mortgage (P&I): −$210
• Tax from tax record: −$131 /mo · $1,574/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $590

Break-even live

Break-even rent $453

Max offer price $40,000

Occupancy floor 46%

Sensitivity live

Price	-10% $613	-5% $602	+0% $590	+5% $579	+10% $568
Rent	-10% $496	-5% $543	+0% $590	+5% $638	+10% $685
Rate	-1.0pp $611	-0.5pp $601	base $590	+0.5pp $580	+1.0pp $570

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
218 N George St Rome, NY	2.0	1.0	2200	$1,200	$0.55	44d	1	0.24mi

Listing history 9 events

1. 2026-03-12
   status Pending
2. 2026-03-03
   status Active
3. 2026-03-03
   price $40,000
4. 2025-09-25
   price $69,500
5. 2025-06-13
   listed $70,000 Active
6. 2007-01-27
   historical
7. 2006-07-31
   listed $59,900
8. 2000-08-23
   historical
9. 2000-02-23
   listed $59,500

ⓘ 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: $1,574 · $131/mo
• Projected year-2 tax: $1,574 · $131/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥94°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,400
• − Mortgage interest: −$2,241
• − Property taxes: −$1,574
• − Insurance: −$200
• − Repairs & maintenance: −$1,152
• − Management: −$1,152
• − Depreciation: −$1,164
• Taxable income: $6,918
• Est. tax owed @ 24.0%: −$1,660
• After-tax cash flow: $5,425/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: Rome City School District
• NCES district ID: 3624900
• Math proficiency: 35% ▼ -4.00%
• Reading proficiency: 46% ▲ 10.00%
• Median HH income: $46,406
• Composite: 34.52/100
• National rank: #5178
• State rank: #516 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

• Census place: Rome, NY
• 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

-32.8% since first listed

9 events — show timeline

• 2026-03-12 Pending — CNYIS
• 2026-03-03 Relisted — CNYIS
• 2026-03-03 Price Changed $40,000 CNYIS
• 2025-09-25 Price Changed $69,500 CNYIS
• 2025-06-13 Listed $70,000 CNYIS
• 2007-01-27 Listing Removed — CNYIS
• 2006-07-31 Listed $59,900 CNYIS
• 2000-08-23 Listing Removed — CNYIS
• 2000-02-23 Listed $59,500 CNYIS

Property tax history

-2.8%/yr

Latest (2025): $1,574 · +0.3% YoY. Source: county tax records.