7429 Cemetery Rd

Rome, NY 13440

$96,000B-

4 bd · 2.0 ba · 1,808 sqft · Built 1954 · SingleFamily · Active · 318 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,769/mo
• Mortgage (P&I): −$503
• Tax + insurance: −$246
• HOA: −$0
• Vac / Maint / Mgmt: −$372
• Net cashflow: $649/mo
• Annual: $7,783/yr
• Cap rate: 14.40%
• Cash-on-cash: 28.95%
• DSCR: 2.29
• 1% rule: 1.84%
• Cash to close: $26,880

Investor read

• This is a 4-bed/2.0-bath single-family listed at $96k.
• At list price, monthly cash flow is $649 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $96k).
• It's been on market 318 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $664 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• 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-, amenities F, commute 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.
• Zoned schools: Ridge Mills Elementary School (math 57% / reading 72%, grade B, #591 of 2,108 statewide, top 31%, 380 students, 26% FRL); Lyndon H Strough Middle School (math 20% / reading 40%, grade F, #539 of 729 statewide, top 74%, 829 students, 59% FRL); Rome Free Academy (math 85% / reading 98%, grade A+, #201 of 1,100 statewide, top 18%, 1,511 students, 51% FRL).
• Zoned-school proficiency averages 62% at this address vs 40% district-wide (+21 pts) — the actual schools serving this property are materially stronger than the Rome City School District average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: property tax is 2.6% of price; built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 278 active listings in the ZIP; 204 units permitted in Oneida County in 2024 (68 in 5+ unit buildings).
• 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 $27k cash investment doubles in ~5 years — after that, you're playing with house money.
• Cap rate 14.4% 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.

Questions for listing agent

• It's been on market 318 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.