694 Wilber Lake Rd · Oneonta, NY 13820

$149,000

4 bd · 2.0 ba · 2,304 sqft · SingleFamily public records · 54 Days on market

Built 1900 4.33 ac lot $65/sqft · 80% below area

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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 +25.5/30.0
• Appreciation +10.0/10.0
• DSCR +8.4/10.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

This 4+ acre rural property which is situated in a prime location within the Oneonta City School District. It is quietly and conveniently located near Wilber Lake with easy access to city amenities while maintaining a private, country feel. The grounds a mixture of woods with a stream and a yard. No electric or water will be turned on. Items will remain in the house and at the property. This is being sold strictly as-is, this property offers the footprint and location to make it happen, whether you are looking to restore the early 20th Century Farmhouse or are seeking the perfect 4+ acre lot for your dream build. This could be a great investment within minutes from Oneonta and approximately

Key facts

• Mixture of woods
• Yard
• Private country feel

Tags

• ONEONTA CITY SCHOOL DISTRICT
• NEAR WILBER LAKE
• PRIVATE COUNTRY FEEL
• MIXTURE OF WOODS
• STREAM
• YARD

Property features AI

Finance

• Other: Irregular lot; Main thoroughfare frontage; Approximately 4.33 acres (lot dimensions 269 x 897); Resale property

Exterior

• Parking: Detached garage
• Utilities: Well water; Septic tank
• Home design: 2 stories; Existing construction
• Construction: Vinyl siding; Asphalt shingle roof; Stone foundation
• Exterior features: Enclosed porch; Covered porch; Porch; Gravel driveway; Shed(s)/storage

Interior

• Bedrooms: 2 main-level bedrooms
• Flooring: Carpet; Vinyl; Varied flooring
• Bathrooms: 2 full bathrooms; 1 main-level bathroom
• Heating & cooling: Oil heating
• Interior features: Separate/formal dining room; Partial basement
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $149k.

Deal economics

• At list price, monthly cash flow is $348 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Recommended offer: $145k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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; 133 units permitted in Otsego County in 2024 (10 in 5+ unit buildings).
• This rent runs 34% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k 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 $42k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $144,530 (3.0% below list)

Questions for the listing agent

1. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.25% ✓
• Cap rate: 9.09%
• Cash-on-cash: 10.00%
• DSCR: 1.44
• GRM: 6.7

CMA / ARV

• ARV (median comp): $749,864
• List price: $149,000
• Delta: -80.13%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 31.6%
• Equity multiple: 3.48×
• Total profit: $103,372
• Equity at exit: $134,231

10-year hold

• IRR: 27.3%
• Equity multiple: 7.88×
• Total profit: $287,174
• Equity at exit: $289,474

Cash invested: $41,720 (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: 6.7×

Monthly cashflow live

• Estimated rent: $1,862 medium
• Mortgage (P&I): −$781
• Tax from tax record: −$280 /mo · $3,356/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$391
• Net cashflow: $348

Break-even live

Break-even rent $1,422

Max offer price $149,000

Occupancy floor 76%

Sensitivity live

Price	-10% $432	-5% $390	+0% $348	+5% $305	+10% $263
Rent	-10% $200	-5% $274	+0% $348	+5% $421	+10% $495
Rate	-1.0pp $423	-0.5pp $385	base $348	+0.5pp $309	+1.0pp $270

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-19
   days on market $149,000 Active 54 DOM
2. 2026-06-18
   days on market $149,000 Active 53 DOM
3. 2026-06-17
   days on market $149,000 Active 52 DOM
4. 2026-06-16
   days on market $149,000 Active 51 DOM
5. 2026-06-15
   days on market $149,000 Active 50 DOM
6. 2026-06-14
   days on market $149,000 Active 48 DOM
7. 2026-06-12
   days on market $149,000 Active 47 DOM
8. 2026-06-09
   days on market $149,000 Active 44 DOM
9. 2026-06-08
   days on market $149,000 Active 43 DOM
10. 2026-06-07
    days on market $149,000 Active 42 DOM
11. 2026-06-07
    days on market $149,000 Active 41 DOM
12. 2026-06-02
    days on market $149,000 Active 37 DOM
13. 2026-06-01
    days on market $149,000 Active 36 DOM
14. 2026-05-31
    days on market $149,000 Active 35 DOM
15. 2026-05-31
    days on market $149,000 Active 34 DOM
16. 2026-04-26
    listed $149,000 Active 724-char remark

ⓘ 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: $3,356 · $280/mo
• Projected year-2 tax: $3,356 · $280/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 1/10 Low 7 d/yr ≥91°F today · 15 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: $22,340
• − Mortgage interest: −$8,346
• − Property taxes: −$3,356
• − Insurance: −$745
• − Repairs & maintenance: −$1,787
• − Management: −$1,787
• − Depreciation: −$4,335
• Taxable income: $1,983
• Est. tax owed @ 24.0%: −$476
• After-tax cash flow: $3,695/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

• 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

1 event — show timeline

• 2026-04-26 Listed $149,000 UNYREIS

Property tax history

+5.6%/yr

Latest (2025): $3,356 · +0.2% YoY. Source: county tax records.