3835 Prospect St · Oneida Castle, NY 13421

$234,900

5 bd · 2.0 ba · 2,420 sqft · MultiFamily public records · 44 Days on market

Built 1940 0.51 ac lot $97/sqft · at area comps Est $243k · at est.

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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 +24.8/30.0
• ARV discount +9.0/15.0
• DSCR +8.0/10.0
• 1% rule +6.4/10.0
• Schools +4.1/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Oneida two family. 1st floor offers living room, eat-in kitchen, 2 bedrooms, newer full bath and hardwood floors! 2nd unit offers living room, family or party room, 3 bedrooms, kitchen and full bath. Separate utilities. 2 stall detached garage. Newer boilers! Live here inexpensively or rent both out!

Key facts

• 0.51 acre lot
• 2 garage spots
• Built 1940

Property features AI

Finance

• Financial info: Two-unit multifamily property; Unit 1 actual rent $850 (month-to-month); Unit 2 actual rent $650 (month-to-month); Owner pays garage and water; Rent includes parking and water; Operating expenses include insurance and water/sewer

Exterior

• Parking: Garage (2 spaces); Two or more off-street spaces
• Utilities: Cable available; Public water connected; Septic tank sewer; Circuit breaker electrical
• Home design: Two-story property; Existing structure; Resale condition
• Construction: Vinyl siding; Asphalt roof; Block and stone foundation; Windows with energy-efficient features
• Exterior features: Irregular residential lot; 85 x 260 lot dimensions; City street frontage

Interior

• Kitchen: Oven/Range; Refrigerator; Eat-in kitchen
• Bedrooms: One unit with 3 bedrooms; One unit with 2 bedrooms
• Flooring: Hardwood; Varies
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas heating; Baseboard heating; Hot water heating
• Interior features: Ceiling fan(s); Pull-down attic stairs; Natural woodwork
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $235k.

Deal economics

• At list price, monthly cash flow is $497 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $235k).
• Recommended offer: $228k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#854 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A; Watch: health & safety C-, crime F, amenities F.
• Oneida City School District (town): math 43% / reading 54% proficiency, ranked #421 of 590 in NY (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: North Broad Street School (math 27% / reading 47%, grade F, #1,519 of 2,108 statewide, top 74%, 173 students, 64% FRL); Otto L Shortell Middle School (math 23% / reading 45%, grade F, #497 of 729 statewide, top 69%, 391 students, 53% FRL); Oneida Senior High School (math 87% / reading 87%, grade A, #311 of 1,100 statewide, top 30%, 564 students, 43% FRL).
• Market conditions: 67 active listings in the ZIP; 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 $2k of loan paydown is wiped out by about $7k 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

• It's been on market 44 days — a 3% lower offer ($228k) is reasonable based on typical stale-listing flexibility.
• 2 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 $83k; list at $235k implies a 183% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $227,853 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 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 1940 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
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: 1.14% ✓
• Cap rate: 8.83%
• Cash-on-cash: 9.07%
• DSCR: 1.40
• GRM: 7.3

CMA / ARV

• ARV (median comp): $242,796
• List price: $234,900
• Delta: -3.25%
• Verdict: FAIR
• Comps: 11 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
240 E Walnut St	0.52mi	5/3.0	2,724 (+13%)	17mo	$190,000	$70	37
521 Main St	0.74mi	4/2.0 (-1)	2,096 (-13%)	20mo	$186,000	$89	22

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: -2.6%
• Equity multiple: 0.90×
• Total profit: $-6,359
• Equity at exit: $35,024

10-year hold

• IRR: 7.1%
• Equity multiple: 1.54×
• Total profit: $35,402
• Equity at exit: $20,310

Cash invested: $65,772 (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 13421

• Home prices YoY: -5.1%
• Active inventory: 67
• Price-to-rent: 14.6×

Monthly cashflow live

• Estimated rent: $2,686 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$295 /mo · $3,541/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$564
• Net cashflow: $497

Break-even live

Break-even rent $2,057

Max offer price $234,900

Occupancy floor 76%

Sensitivity live

Price	-10% $630	-5% $564	+0% $497	+5% $431	+10% $364
Rent	-10% $285	-5% $391	+0% $497	+5% $603	+10% $709
Rate	-1.0pp $615	-0.5pp $557	base $497	+0.5pp $436	+1.0pp $374

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,686
Total (2 units)			$2,686

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: $58,725
• Closing costs: $7,047
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $234,900 Active 44 DOM
2. 2026-06-21
   days on market $234,900 Active 43 DOM
3. 2026-06-18
   days on market $234,900 Active 41 DOM
4. 2026-06-17
   days on market $234,900 Active 40 DOM
5. 2026-06-16
   days on market $234,900 Active 39 DOM
6. 2026-06-15
   days on market $234,900 Active 38 DOM
7. 2026-06-13
   days on market $234,900 Active 36 DOM
8. 2026-06-12
   days on market $234,900 Active 35 DOM
9. 2026-06-09
   days on market $234,900 Active 32 DOM
10. 2026-06-08
    days on market $234,900 Active 31 DOM
11. 2026-06-07
    days on market $234,900 Active 30 DOM
12. 2026-06-07
    days on market $234,900 Active 29 DOM
13. 2026-06-04
    days on market $234,900 Active 26 DOM
14. 2026-06-02
    remarks 693-char remark
15. 2026-06-02
    days on market $234,900 Active 25 DOM
16. 2026-06-01
    days on market $234,900 Active 24 DOM
17. 2026-05-31
    days on market $234,900 Active 23 DOM
18. 2026-05-08
    listed $234,900 Active 217-char remark
19. 2017-05-19
    soldstatus $83,000 303-char remark

    Show marketing remark (303 chars)

    Oneida two family. 1st floor offers living room, eat-in kitchen, 2 bedrooms, newer full bath and hardwood floors! 2nd unit offers living room, family or party room, 3 bedrooms, kitchen and full bath. Separate utilities. 2 stall detached garage. Newer boilers! Live here inexpensively or rent both out!

20. 2017-05-19
    soldstatus $83,000

    Show marketing remark (303 chars)

    Oneida two family. 1st floor offers living room, eat-in kitchen, 2 bedrooms, newer full bath and hardwood floors! 2nd unit offers living room, family or party room, 3 bedrooms, kitchen and full bath. Separate utilities. 2 stall detached garage. Newer boilers! Live here inexpensively or rent both out!

21. 2016-01-15
    listed $89,900 303-char remark

    Show marketing remark (303 chars)

    Oneida two family. 1st floor offers living room, eat-in kitchen, 2 bedrooms, newer full bath and hardwood floors! 2nd unit offers living room, family or party room, 3 bedrooms, kitchen and full bath. Separate utilities. 2 stall detached garage. Newer boilers! Live here inexpensively or rent both out!

ⓘ 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: $3,541 · $295/mo
• Projected year-2 tax: $3,755 · $313/mo
• Expected delta: +$214/yr (+$18/mo · 6.1%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,232
• − Mortgage interest: −$13,158
• − Property taxes: −$3,541
• − Insurance: −$1,174
• − Repairs & maintenance: −$2,579
• − Management: −$2,579
• − Depreciation: −$6,833
• Taxable income: $2,368
• Est. tax owed @ 24.0%: −$568
• After-tax cash flow: $5,397/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: Oneida City School District
• NCES district ID: 3600013
• Math proficiency: 43% ▼ -11.00%
• Reading proficiency: 54% ▲ 12.00%
• Median HH income: $45,791
• Composite: 41.1/100
• National rank: #3568
• State rank: #421 of 590 in NY

Livability — Oneida Castle

• Score: 62/100
• State rank: #854
• US rank: #16502

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 12,742

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 (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Lithuanian 5% Romanian 4% Iranian 2%
• Foreign-born: 1% · Canada, China
• Languages at home: 97% English-only · Spanish 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: ▼ -13.30%
• Current HPI: 248.3909
• 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

+161.3% since first listed

4 events — show timeline

• 2026-05-08 Listed $234,900 CNYIS
• 2017-05-19 Sold (Public Records) $83,000 Public Records
• 2017-05-19 Sold (MLS) $83,000 CNYIS
• 2016-01-15 Listed $89,900 CNYIS

Property tax history

-0.4%/yr

Latest (2025): $3,541 · +6.5% YoY. Source: county tax records.