9 Grove St · Oneonta, NY 13820

$174,900

3 bd · 2.0 ba · 1,546 sqft · MultiFamily public records · 11 Days on market

Built 1900 4,791 sqft lot Est $155k · 13% over

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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
• Appreciation +10.0/10.0
• Schools +4.3/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.6/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Cheerful 2-unit located just off the hustle and bustle of Main Street, with a private deck and patio with views south to "City of the Hills". Off-street parking for two cars and is ready for immediate occupancy! First floor features small front covered porch entry, covered rear deck AND rear covered patio! Detached garage for owner-occupant or tenant! Fully separate utilities: gas downstairs, electric upstairs. Fully separate utilities. Radon system just installed this month. Two newer electric hot water heaters. Come and take a look! Easy to view, ready to occupy two family with a super location and a very affordable price!

Key facts

• Private deck
• Separate utilities
• Rear covered patio

Tags

• PRIVATE DECK
• COVERED REAR DECK
• REAR COVERED PATIO
• DETACHED GARAGE
• SEPARATE UTILITIES
• RADON SYSTEM

Property features AI

Finance

• Other: Near public transit; Rectangular residential lot (approx. 50 x 91, ~0.11 acres); City street frontage
• Financial info: Owner pays snow removal, trash collection, and water; Rent includes snow removal, trash collection, and water; Operating expenses include insurance and structure maintenance; Two-unit income property with advertised rents: $1,150 and $1,350

Exterior

• Parking: Attached/accessible paved parking with two or more spaces; 1-car garage
• Security: Radon mitigation system
• Utilities: Public water connected; Sewer connected; Electricity connected; Cable available; High-speed internet available
• Home design: Two-story multi-family (2 units); Residential 2-unit zoning; Existing structure
• Construction: Cedar and frame construction with shake siding; Asphalt shingle roof; Stone foundation; Built as existing (year built details: Existing)
• Exterior features: Deck; Patio; Covered porch

Interior

• Kitchen: Oven/Range; Refrigerator
• Bedrooms: One 1-bedroom unit; One 2-bedroom unit
• Flooring: Carpet; Laminate; Vinyl; Varies
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Electric and gas heating; Baseboard heating; Forced air heating
• Interior features: Full basement; Varied flooring throughout
• Laundry & utility: Electric water heater; Water heater

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $175k.

Deal economics

• At list price, monthly cash flow is $773 ($9k/yr) — positive. Per door: $387/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $175k).
• Cap rate 11.6% vs local median 5.5% in Oneonta — 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 75/100 on livability (#253 in NY, #4,021 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living B+; Watch: amenities C-, crime F, commute F.
• Oneonta City School District (town): math 46% / reading 57% proficiency, ranked #374 of 590 in NY (top 63%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 118 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 133 units permitted in Otsego County in 2024 (10 in 5+ unit buildings).
• At $2,737/mo this rent would consume 50% of the median local household income ($66k/yr) (locally 662% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $17k appreciation (10.0% local appreciation)).
• Otsego County population projected at -21% 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 $49k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $100k; list at $175k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $174,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 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: 1.56% ✓
• Cap rate: 11.60%
• Cash-on-cash: 18.95%
• DSCR: 1.84
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $154,600
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10 Baker St	0.37mi	4/2.0 (+1)	1,608 (+4%)	8mo	$150,000	$93	64
35 Grove St	0.15mi	4/2.0 (+1)	1,705 (+10%)	14mo	$152,000	$89	59
64 Elm St	0.60mi	4/2.5 (+1)	1,592 (+3%)	10mo	$207,500	$130	52
18 W Broadway	0.46mi	3/2.0	1,755 (+14%)	11mo	$175,500	$100	47
62 Church St	0.41mi	3/3.0	1,738 (+12%)	18mo	$180,000	$104	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 38.4%
• Equity multiple: 3.95×
• Total profit: $144,657
• Equity at exit: $157,564

10-year hold

• IRR: 33.1%
• Equity multiple: 8.91×
• Total profit: $387,564
• Equity at exit: $339,792

Cash invested: $48,972 (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 13820

• Home prices YoY: 22.7%
• Active inventory: 118
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,737 medium
• Mortgage (P&I): −$917
• Tax from tax record: −$399 /mo · $4,787/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$575
• Net cashflow: $773

Break-even live

Break-even rent $1,758

Max offer price $174,900

Occupancy floor 67%

Sensitivity live

Price	-10% $872	-5% $823	+0% $773	+5% $724	+10% $674
Rent	-10% $557	-5% $665	+0% $773	+5% $881	+10% $989
Rate	-1.0pp $861	-0.5pp $818	base $773	+0.5pp $728	+1.0pp $682

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,736
Total (2 units)			$2,737

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7 Wells Ave Oneonta, NY	3.0	1.0	1120	$1,800	$1.61	44d	1	1.07mi

Listing history 5 events

1. 2026-05-08
   status Pending
2. 2026-04-27
   listed $174,900 Active
3. 2024-04-23
   historical $1,100
4. 2023-09-22
   listed $1,100
5. 2010-02-02
   soldstatus $100,000

ⓘ 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: $4,787 · $399/mo
• Projected year-2 tax: $4,787 · $399/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 3/10 Moderate 8 d/yr ≥93°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,844
• − Mortgage interest: −$9,797
• − Property taxes: −$4,787
• − Insurance: −$874
• − Repairs & maintenance: −$2,628
• − Management: −$2,628
• − Depreciation: −$5,088
• Taxable income: $7,043
• Est. tax owed @ 24.0%: −$1,690
• After-tax cash flow: $7,589/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: Oneonta City School District
• NCES district ID: 3621780
• Math proficiency: 46% ▼ -2.00%
• Reading proficiency: 57% ▲ 14.00%
• Median HH income: $41,631
• Composite: 43.19/100
• National rank: #3066
• State rank: #374 of 590 in NY

Livability — Oneonta

• Score: 75/100
• State rank: #253
• US rank: #4021

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oneonta, NY
• County: Otsego County · 23,056 people
• City population: 23,056
• Metro: Oneonta, NY
• Population (ZIP): 23,056
• Household income: $65,953
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 662.0

Population outlook (Otsego County) Hauer SSP2

• Today (2025): 57,987 people
• By 2030: 55,403 · -4.5%
• By 2040: 50,336 · -13.2%
• By 2050: 45,715 · -21.2%
• By 2075: 38,769 · -33.1%
• By 2100: 33,468 · -42.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 6% Black 5% Two or more races 5% Asian 2%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Romanian 4% Slovak 2% Lithuanian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 94% English-only · Spanish 3% Russian/Polish/Slavic 1% Other Indo-European 1%

Political lean MEDSL · Otsego

• 2024 margin: Lean R (+7.9) · D 46.1% · R 53.9%
• 2008→2024 swing: -13.8pp toward R · 2008: 5.9pp · 2024: -7.9pp
• All cycles: 2024: R+7.9 2020: R+5.0 2016: R+13.0 2012: D+2.0 2008: D+5.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 67.86%
• Current HPI: 366.3391
• Rent YoY: —
• Metro: Oneonta, NY
• 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

+74.9% since first listed

5 events — show timeline

• 2026-05-08 Pending — UNYREIS
• 2026-04-27 Listed $174,900 UNYREIS
• 2024-04-23 Rental Removed $1,100 ODBOR
• 2023-09-22 Listed for Rent $1,100 ODBOR
• 2010-02-02 Sold (Public Records) $100,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $4,787 · +5.6% YoY. Source: county tax records.