92 Main St · New York Mills, NY 13417

$179,000

5 bd · None ba · 3,680 sqft · MultiFamily · 123 Days on market

Built 1940

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Why this score? — see what drove the A- 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Located in the Village of New York Mills, this mixed-use commercial/residential building offers over 3,600 sq ft of living space on a large lot with 2 stall garage . Property is unfinished and ready for final touches. Major updates include new roof, new electric spray foam insulation, newer windows, vinyl siding, and updated plumbing. Most framing and sheetrock for apartment units already completed. Excellent opportunity for investor or owner-occupant to customize and add value.

Key facts

• Large lot
• Newer windows
• Vinyl siding

Tags

• LARGE LOT
• NEW ROOF
• NEWER WINDOWS
• VINYL SIDING
• UPDATED PLUMBING

Property features AI

Finance

• Financial info: Five total units; Operating expense details: see remarks; Owner pays: other (see remarks); Rent includes: see remarks

Exterior

• Parking: Three or more parking spaces
• Utilities: Electricity available; Public water (connected); Sewer available (connected)
• Home design: 2-story building; Existing year built
• Construction: Vinyl siding; Spray foam insulation; Asphalt roof
• Exterior features: Dirt driveway; Flag lot

Interior

• Heating & cooling: Heating details: see remarks
• Interior features: Full basement; Property listed as resale fixer
• Laundry & utility: Water heater

What this means for you Summary

Snapshot

• This is a 5-bed/?-bath multifamily listed at $179k.

Deal economics

• At list price, monthly cash flow is $3k ($39k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $179k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 28.2% vs local median 5.1% in New York Mills — 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 78/100 on livability (#175 in NY, #2,712 nationally) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, housing A; Watch: amenities F, commute F.
• New York Mills Union Free School District (suburban): math 60% / reading 65% proficiency, ranked #224 of 590 in NY (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: New York Mills School (math 52% / reading 47%, 546 students, 50% FRL) — zoned schools average 50% FRL vs 30% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 50% at this address vs 62% district-wide (-13 pts) — the specific schools serving this property underperform the New York Mills Union Free School District average; the district grade overstates school quality for this exact location.
• Market conditions: 10 active listings in the ZIP; 204 units permitted in Oneida County in 2024 (68 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Oneida County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 123 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $157,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 123 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 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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?
6. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 3.18% ✓
• Cap rate: 28.16%
• Cash-on-cash: 78.10%
• DSCR: 4.48
• GRM: 2.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 88.2%
• Equity multiple: 7.09×
• Total profit: $305,334
• Equity at exit: $161,257

10-year hold

• IRR: 82.9%
• Equity multiple: 15.68×
• Total profit: $735,948
• Equity at exit: $347,758

Cash invested: $50,120 (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 13417

• Home prices YoY: 11.9%
• Active inventory: 10
• Price-to-rent: 13.1×

Monthly cashflow live

• Estimated rent: $5,695 medium
• Mortgage (P&I): −$939
• Tax est. 1.5%: −$224 /mo · $2,685/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,196
• Net cashflow: $3,262

Break-even live

Break-even rent $1,566

Max offer price $179,000

Occupancy floor 38%

Sensitivity live

Price	-10% $3,386	-5% $3,324	+0% $3,262	+5% $3,200	+10% $3,138
Rent	-10% $2,812	-5% $3,037	+0% $3,262	+5% $3,487	+10% $3,712
Rate	-1.0pp $3,352	-0.5pp $3,308	base $3,262	+0.5pp $3,216	+1.0pp $3,168

5-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 5× units	2	1.5	$5,695
Total (5 units)			$5,695

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-22
   days on market $179,000 Active 123 DOM
2. 2026-06-19
   days on market $179,000 Active 121 DOM
3. 2026-06-18
   days on market $179,000 Active 120 DOM
4. 2026-06-17
   days on market $179,000 Active 119 DOM
5. 2026-06-16
   days on market $179,000 Active 118 DOM
6. 2026-06-15
   days on market $179,000 Active 117 DOM
7. 2026-06-14
   days on market $179,000 Active 115 DOM
8. 2026-06-13
   days on market $179,000 Active 114 DOM
9. 2026-06-10
   days on market $179,000 Active 112 DOM
10. 2026-06-09
    days on market $179,000 Active 111 DOM
11. 2026-06-08
    days on market $179,000 Active 110 DOM
12. 2026-06-07
    days on market $179,000 Active 109 DOM
13. 2026-06-02
    days on market $179,000 Active 104 DOM
14. 2026-06-01
    days on market $179,000 Active 103 DOM
15. 2026-05-31
    days on market $179,000 Active 102 DOM
16. 2026-05-30
    days on market $179,000 Active 101 DOM
17. 2026-02-18
    listed $179,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $68,340
• − Mortgage interest: −$10,027
• − Property taxes: −$2,685
• − Insurance: −$895
• − Repairs & maintenance: −$5,467
• − Management: −$5,467
• − Depreciation: −$5,207
• Taxable income: $38,592
• Est. tax owed @ 24.0%: −$9,262
• After-tax cash flow: $29,882/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: New York Mills Union Free School District
• NCES district ID: 3620610
• Math proficiency: 60% ▲ 5.00%
• Reading proficiency: 65% ▲ 13.00%
• Median HH income: $40,329
• Composite: 52.21/100
• National rank: #1605
• State rank: #224 of 590 in NY

Livability — New York Mills

• Score: 78/100
• State rank: #175
• US rank: #2712

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New York Mills, NY
• City population: 3,012
• Population (ZIP): 3,012

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 (99%)
• Race & ethnicity: White 99% Asian 1%
• Common ancestry: Romanian 21% Lithuanian 4% Serbian 2%
• Foreign-born: 2%
• Languages at home: 94% English-only · Russian/Polish/Slavic 4% Vietnamese 1% 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: ▲ 31.74%
• Current HPI: 298.823
• 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

• 2026-02-18 Listed $179,000 CNYIS