23 Pearl St · Oneonta, NY 13820

$229,900

3 bd · 1.5 ba · 1,008 sqft · SingleFamily public records · 7 Days on market

Built 1975 0.78 ac lot Est $170k · 35% over

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Why this score? — see what drove the D- 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 +10.0/30.0
• Appreciation +10.0/10.0
• Schools +4.3/10.0
• Livability +3.8/5.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

IMMACULATE & FULLY UPDATED WEST END HOME!!!! On the outside you will find a new blacktop driveway, new drainage system, and LARGE WRAP-AROUND DECK W/ BEAUTIFUL MOUNTAIN VIEWS. Inside on the first floor features a large living room w/ views, dining room, BRAND NEW UPDATED KITCHEN (2018) W/ CUSTOM CABINETS, STAINLESS APPLIANCES & GRANITE COUNTERS, two large bedrooms, and a LARGE FULL UPDATED BATH W/ TILED SHOWER (2018)! Downstairs is fully finished featuring a large family room w/ new floors & possible 3rd bedroom/den. With natural gas already available at the house, prime location, HARDWOOD FLOORS, and EVERYTHING UPDATED . .. this is an extremely rare find - don't hesitate!!!

Key facts

• Custom cabinets
• New drainage system
• Wrap-around deck

Tags

• NEW BLACKTOP DRIVEWAY
• NEW DRAINAGE SYSTEM
• WRAP-AROUND DECK
• MOUNTAIN VIEWS
• UPDATED KITCHEN
• CUSTOM CABINETS

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water (connected); Sewer connected
• Home design: 2 stories; Existing construction
• Construction: Frame construction; Asphalt roof; Block foundation
• Exterior features: Blacktop driveway; Deck

Interior

• Kitchen: Gas oven and gas range; Microwave; Dishwasher; Refrigerator; Kitchen island; Eat-in kitchen
• Bedrooms: 2 main-level bedrooms
• Flooring: Hardwood; Luxury vinyl; Varies
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Electric heating; Baseboard heating; See remarks for additional heating details
• Interior features: Separate/formal dining room; Eat-in kitchen; Separate/formal living room; Kitchen island; Main-level primary bedroom; Full finished basement; Fireplace (1)
• Laundry & utility: Washer and dryer in basement; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $-140 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $205k (10.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $154k (32.8% below list).
• Recommended offer: $154k (32.8% below list) — sets the bar for 1% rule.

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).

Forward outlook

• In year one you build about $25k of equity ($2k loan paydown + $23k 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.
• By year 2, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 24y 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 $144k; list at $230k implies a 60% gain — meaningful room to come down on a strong offer.

Recommended offer $154,494 (32.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1975 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.67% ✗
• Cap rate: 5.56%
• Cash-on-cash: -2.61%
• DSCR: 0.88
• GRM: 12.4

CMA / ARV

• ARV (on-the-fly): $170,352
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1 Pearl St	0.10mi	3/1.0	1,064 (+6%)	6mo	$135,000	$127	80
6 Cleveland St	0.07mi	2/1.5 (-1)	1,092 (+8%)	5mo	$185,000	$169	74
14 Jefferson Ave	0.43mi	2/1.5 (-1)	954 (-5%)	2mo	$222,350	$233	64
7 James St	0.27mi	2/2.0 (-1)	936 (-7%)	5mo	$155,000	$166	64
5 Bronk St	0.10mi	3/1.0	1,152 (+14%)	11mo	$145,000	$126	60
173 River St	0.67mi	2/1.0 (-1)	1,051 (+4%)	3mo	$90,000	$86	52
54 Richards Ave	0.58mi	3/1.5	1,074 (+6%)	15mo	$235,000	$219	49
189 River St	0.67mi	3/1.0	990 (-2%)	21mo	$145,000	$146	46
14 Richards Ave	0.55mi	3/1.0	1,100 (+9%)	20mo	$217,000	$197	41
15 Spencer Dr	0.66mi	2/1.0 (-1)	912 (-10%)	8mo	$170,000	$186	40
13 Raymond Ave	0.66mi	3/1.0	1,152 (+14%)	6mo	$112,800	$98	38
233 Winney Hill Rd	0.73mi	3/2.0	1,152 (+14%)	18mo	$220,935	$192	25

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: 22.4%
• Equity multiple: 2.80×
• Total profit: $116,167
• Equity at exit: $207,112

10-year hold

• IRR: 20.1%
• Equity multiple: 6.42×
• Total profit: $348,879
• Equity at exit: $446,645

Cash invested: $64,372 (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: 12.4×

Monthly cashflow live

• Estimated rent: $1,545 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$59 /mo · $711/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $-140

Break-even live

Break-even rent $1,722

Max offer price $205,143

Occupancy floor —

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
120 River St Oneonta, NY	2.0	1.0	700	$1,250	$1.79	44d	1	0.64mi

Listing history 7 events

1. 2026-06-19
   days on market $229,900 Active 7 DOM
2. 2026-06-18
   days on market $229,900 Active 6 DOM
3. 2026-06-17
   days on market $229,900 Active 5 DOM
4. 2026-06-16
   days on market $229,900 Active 4 DOM
5. 2026-06-15
   days on market $229,900 Active 3 DOM
6. 2026-06-13
   remarks 687-char remark
7. 2026-06-13
   listed $229,900 Active 1 DOM

ⓘ 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: $711 · $59/mo
• Projected year-2 tax: $2,298 · $192/mo
• Expected delta: +$1,587/yr (+$132/mo · 223.3%)

ⓘ 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 2/10 Low 7 d/yr ≥93°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 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: $18,539
• − Mortgage interest: −$12,878
• − Property taxes: −$711
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,483
• − Management: −$1,483
• − Depreciation: −$6,688
• Taxable loss: −$5,853
• Est. tax savings @ 24.0%: +$1,405
• After-tax cash flow: $-277/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

+178.7% since first listed

12 events — show timeline

• 2026-06-12 Listed $229,900 UNYREIS
• 2019-10-25 Sold (MLS) $144,000 ODBOR
• 2019-10-25 Sold (MLS) $144,000 UNYREIS
• 2019-06-28 Listed $144,900 ODBOR
• 2019-06-28 Listed $144,900 UNYREIS
• 2018-09-04 Listed $144,900 UNYREIS
• 2009-02-04 Listing Removed — UNYREIS
• 2008-08-19 Listed $125,000 UNYREIS
• 2008-04-23 Listed $119,900 UNYREIS
• 2007-07-09 Listed $149,900 UNYREIS
• 2002-06-04 Listing Removed — UNYREIS
• 2002-01-28 Listed $82,500 UNYREIS

Property tax history

-22.1%/yr

Latest (2020): $711 · -58.3% YoY. Source: county tax records.