608 Union St · Rome, NY 13440

$169,300

3 bd · 1.5 ba · 1,404 sqft · SingleFamily public records · 1 Days on market

Built 1900 Est $178k · 5% 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 +24.5/30.0
• ARV discount +9.8/15.0
• DSCR +7.9/10.0
• 1% rule +5.9/10.0
• 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

Listing remarks MLS

Property does need work but has solid bones and at this price offers a tremendous opportunity to customize. Open kitchen, some classic woodwork, detached garage, and private yard offer an excellent opportunity for owner occupants or savvy investors!!

Key facts

• Fully remodeled
• Brand-new windows
• Two-inch insulation

Tags

• FULLY REMODELED
• BRAND-NEW WINDOWS
• TEN INSULATION IN THE ATTIC
• TWO-INCH INSULATION
• OUTER BAYS IN THE BASEMENT
• BRAND-NEW KITCHEN CABINETS

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $169k.

Deal economics

• At list price, monthly cash flow is $347 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $169k).
• Cap rate 8.8% 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.
• 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: 272 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 10y 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 $10k; list at $169k implies a 1512% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $169,300

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.09% ✓
• Cap rate: 8.75%
• Cash-on-cash: 8.79%
• DSCR: 1.39
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $178,308
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
523 William St	0.22mi	3/1.5	1,408 (+0%)	3mo	$80,000	$57	87
623 W Thomas St	0.18mi	3/1.5	1,327 (-6%)	2mo	$174,900	$132	81
752 N Jay St	0.40mi	3/1.0	1,408 (+0%)	1mo	$111,000	$79	78
633 W Thomas St	0.16mi	2/1.0 (-1)	1,365 (-3%)	8mo	$127,200	$93	74
533 William St	0.19mi	3/1.0	1,484 (+6%)	8mo	$179,900	$121	73
511 Elm St	0.21mi	4/1.5 (+1)	1,271 (-10%)	6mo	$161,060	$127	65
926 W Thomas St	0.51mi	3/1.0	1,476 (+5%)	4mo	$193,000	$131	62
927 Croton St St	0.48mi	3/1.0	1,290 (-8%)	1mo	$176,000	$136	61
208 Mcrae St	0.72mi	3/1.0	1,416 (+1%)	9mo	$178,000	$126	56
1011 North Madison	0.53mi	3/1.5	1,608 (+14%)	1mo	$203,000	$126	50
1100 Jervis Ave	0.69mi	4/1.0 (+1)	1,326 (-6%)	3mo	$190,000	$143	50
325 Mcrae St	0.65mi	3/1.0	1,582 (+13%)	4mo	$201,000	$127	43

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: -3.0%
• Equity multiple: 0.89×
• Total profit: $-5,327
• Equity at exit: $25,243

10-year hold

• IRR: 6.7%
• Equity multiple: 1.50×
• Total profit: $23,802
• Equity at exit: $14,638

Cash invested: $47,404 (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: 7.7×

Monthly cashflow live

• Estimated rent: $1,843 high
• Mortgage (P&I): −$888
• Tax from tax record: −$151 /mo · $1,809/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $347

Break-even live

Break-even rent $1,404

Max offer price $169,300

Occupancy floor 76%

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: $42,325
• Closing costs: $5,079
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1027 Elwood St Rome, NY	3.0	2.0	1200	$1,500	$1.25	44d	1	0.88mi
251 Liam Ln Unit 251 Rome, NY	3.0	2.0	1577	$2,750	$1.74	44d	1	0.90mi
1611 Craig St Rome, NY	3.0	1.0	1250	$2,000	$1.60	44d	1	0.96mi
183 W Dominick St Rome, NY	1.0–2.0	1.0	845	$904	$1.07	44d	1	0.98mi
7805 Merrick Rd Unit 201 Rome, NY	2.0	2.0	1200	$2,000	$1.67	44d	1	1.04mi
149 River St Unit 2 Rome, NY	3.0	1.0	1160	$1,500	$1.29	44d	1	1.11mi

Listing history 10 events

1. 2026-05-13
   status Under Contract
2. 2026-05-12
   listed $169,300 Active
3. 2026-04-21
   historical
4. 2026-01-09
   price $184,000
5. 2025-11-23
   price $189,900
6. 2025-11-08
   price $197,000
7. 2025-10-21
   listed $205,000 Active
8. 2016-04-25
   soldstatus $10,500 250-char remark

   Show marketing remark (250 chars)

   Property does need work but has solid bones and at this price offers a tremendous opportunity to customize. Open kitchen, some classic woodwork, detached garage, and private yard offer an excellent opportunity for owner occupants or savvy investors!!

9. 2016-01-12
   listed $17,900 250-char remark

   Show marketing remark (250 chars)

   Property does need work but has solid bones and at this price offers a tremendous opportunity to customize. Open kitchen, some classic woodwork, detached garage, and private yard offer an excellent opportunity for owner occupants or savvy investors!!

10. 2000-10-02
    soldstatus $47,000

ⓘ 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: $1,809 · $151/mo
• Projected year-2 tax: $2,335 · $195/mo
• Expected delta: +$526/yr (+$44/mo · 29.1%)

ⓘ 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 7 d/yr ≥94°F today · 17 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: $22,122
• − Mortgage interest: −$9,483
• − Property taxes: −$1,809
• − Insurance: −$846
• − Repairs & maintenance: −$1,770
• − Management: −$1,770
• − Depreciation: −$4,925
• Taxable income: $1,519
• Est. tax owed @ 24.0%: −$364
• After-tax cash flow: $3,803/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

+260.2% since first listed

10 events — show timeline

• 2026-05-13 Pending — FSBO.com
• 2026-05-12 Listed $169,300 FSBO.com
• 2026-04-21 Listing Removed — CNYIS
• 2026-01-09 Price Changed $184,000 CNYIS
• 2025-11-23 Price Changed $189,900 CNYIS
• 2025-11-08 Price Changed $197,000 CNYIS
• 2025-10-21 Listed $205,000 CNYIS
• 2016-04-25 Sold (MLS) $10,500 CNYIS
• 2016-01-12 Listed $17,900 CNYIS
• 2000-10-02 Sold (Public Records) $47,000 Public Records

Property tax history

+0.1%/yr

Latest (2025): $1,809 · +0.3% YoY. Source: county tax records.