5009 Stokes Lee Center Rd St · Rome, NY 13440

$39,999

3 bd · 1.5 ba · 1,100 sqft · Land · 180 Days on market

0.92 ac lot $36/sqft · 78% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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 IS BEING SOLD "AS IS". NEEDS TO BE COMPLETELY RENOVATED. THERE IS A WELL, SEPTIC AND FORCED AIR HEAT SYSTEM - BUT NOTHING WORKS. LISTING BROKER MUST BE AT ALL SHOWINGS. ALSO LISTED AS LAND UNDER MLS#S1547771

Key facts

• Forced air heat
• Completely renovated
• Septic system

Tags

• COMPLETELY RENOVATED
• SEPTIC SYSTEM
• FORCED AIR HEAT

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath land listed at $40k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Recommended offer: $35k (12.0% below list) — sets the bar for market timing.
• Cap rate 37.1% 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: 276 active listings in the ZIP; 5 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 $276 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 180 days — a 12% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.

Recommended offer $35,199 (12.0% below list)

Questions for the listing agent

1. It's been on market 180 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 4.12% ✓
• Cap rate: 37.06%
• Cash-on-cash: 109.88%
• DSCR: 5.89
• GRM: 2.0

CMA / ARV

• ARV (median comp): $182,920
• List price: $39,999
• Delta: -78.13%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 6.26×
• Total profit: $58,862
• Equity at exit: $5,964

10-year hold

• IRR: —
• Equity multiple: 13.10×
• Total profit: $135,465
• Equity at exit: $3,458

Cash invested: $11,200 (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: 276
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,648 high
• Mortgage (P&I): −$210
• Tax est. 1.5%: −$50 /mo · $600/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $1,026

Break-even live

Break-even rent $350

Max offer price $39,999

Occupancy floor 33%

Sensitivity live

Price	-10% $1,053	-5% $1,039	+0% $1,026	+5% $1,012	+10% $998
Rent	-10% $895	-5% $960	+0% $1,026	+5% $1,091	+10% $1,156
Rate	-1.0pp $1,046	-0.5pp $1,036	base $1,026	+0.5pp $1,015	+1.0pp $1,005

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7805 Merrick Rd Unit 201 Rome, NY	2.0	2.0	1200	$2,000	$1.67	44d	1	0.84mi
1611 Craig St Rome, NY	3.0	1.0	1250	$2,000	$1.60	44d	1	0.87mi
1027 Elwood St Rome, NY	3.0	2.0	1200	$1,500	$1.25	44d	1	0.89mi
183 W Dominick St Rome, NY	1.0–2.0	1.0	845	$904	$1.07	44d	1	1.19mi
149 River St Unit 2 Rome, NY	3.0	1.0	1160	$1,500	$1.29	45d	1	1.32mi

Listing history 18 events

1. 2026-06-21
   days on market $39,999 Active 180 DOM
2. 2026-06-18
   days on market $39,999 Active 178 DOM
3. 2026-06-17
   days on market $39,999 Active 177 DOM
4. 2026-06-16
   days on market $39,999 Active 176 DOM
5. 2026-06-15
   days on market $39,999 Active 175 DOM
6. 2026-06-13
   days on market $39,999 Active 173 DOM
7. 2026-06-12
   days on market $39,999 Active 172 DOM
8. 2026-06-09
   days on market $39,999 Active 169 DOM
9. 2026-06-08
   days on market $39,999 Active 168 DOM
10. 2026-06-07
    days on market $39,999 Active 167 DOM
11. 2026-06-07
    days on market $39,999 Active 166 DOM
12. 2026-06-04
    days on market $39,999 Active 163 DOM
13. 2026-06-02
    days on market $39,999 Active 162 DOM
14. 2026-06-01
    days on market $39,999 Active 161 DOM
15. 2026-05-31
    days on market $39,999 Active 160 DOM
16. 2026-04-16
    status Active 226-char remark

    Show marketing remark (226 chars)

    PROPERTY IS BEING SOLD "AS IS". NEEDS TO BE COMPLETELY RENOVATED. THERE IS A WELL, SEPTIC AND FORCED AIR HEAT SYSTEM - BUT NOTHING WORKS. LISTING BROKER MUST BE AT ALL SHOWINGS. ALSO LISTED AS LAND UNDER MLS#S1547771

17. 2024-10-17
    historical 226-char remark

    Show marketing remark (226 chars)

    PROPERTY IS BEING SOLD "AS IS". NEEDS TO BE COMPLETELY RENOVATED. THERE IS A WELL, SEPTIC AND FORCED AIR HEAT SYSTEM - BUT NOTHING WORKS. LISTING BROKER MUST BE AT ALL SHOWINGS. ALSO LISTED AS LAND UNDER MLS#S1547771

18. 2024-06-24
    listed $39,999 Active 226-char remark

    Show marketing remark (226 chars)

    PROPERTY IS BEING SOLD "AS IS". NEEDS TO BE COMPLETELY RENOVATED. THERE IS A WELL, SEPTIC AND FORCED AIR HEAT SYSTEM - BUT NOTHING WORKS. LISTING BROKER MUST BE AT ALL SHOWINGS. ALSO LISTED AS LAND UNDER MLS#S1547771

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $19,777
• − Mortgage interest: −$2,241
• − Property taxes: −$600
• − Insurance: −$200
• − Repairs & maintenance: −$1,582
• − Management: −$1,582
• − Depreciation: −$1,164
• Taxable income: $12,408
• Est. tax owed @ 24.0%: −$2,978
• After-tax cash flow: $9,329/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

3 events — show timeline

• 2026-04-16 Relisted — CNYIS
• 2024-10-17 Listing Removed — CNYIS
• 2024-06-24 Listed $39,999 CNYIS