148 Madison St · Oneida, NY 13421

$189,000

7 bd · None ba · 14,060 sqft · MultiFamily · 117 Days on market

Built 1970 Fair condition 7,841 sqft lot ↓ 24% since listing

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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 +4.1/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Welcome to 148-150 Madison St, Oneida, NY 13421 Prime downtown Oneida mixed-use property offering excellent investment potential. This well-maintained building features seven residential units and three large office spaces, providing a strong mix of commercial and residential income. The property is located in a high-traffic area within walking distance to restaurants, shops, banks, and other local amenities. The office spaces offer great visibility and flexible layouts suitable for a variety of professional or retail uses. The residential units provide consistent rental demand thanks to the convenient downtown location and proximity to major routes. Ideal for investors seeking a property with steady cash flow and growth opportunity in Oneida’s revitalized downtown district.

Key facts

• High-traffic area
• Great visibility
• 7,841 sq ft lot

Tags

• SEVEN RESIDENTIAL UNITS
• THREE LARGE OFFICE SPACES
• HIGH-TRAFFIC AREA
• WALKING DISTANCE TO SHOPS
• WALKING DISTANCE TO BANKS
• GREAT VISIBILITY

What this means for you Summary

Snapshot

• This is a 7-bed/?-bath multifamily listed at $189k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $5k ($57k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $189k).
• Recommended offer: $172k (9.0% below list) — sets the bar for market timing.
• Cap rate 36.6% vs local median 4.0% in Oneida — 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 61/100 on livability (#924 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, employment C-, health & safety C-.
• 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.
• Market conditions: 67 active listings in the ZIP; 137 units permitted in Madison County in 2024 (46 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 $6k of value loss. Plan a longer hold.
• Madison County population projected at -24% 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 $53k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 117 days — a 9% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $171,990 (9.0% below list)

Questions for the listing agent

1. It's been on market 117 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 4.07% ✓
• Cap rate: 36.62%
• Cash-on-cash: 108.32%
• DSCR: 5.82
• GRM: 2.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 6.17×
• Total profit: $273,731
• Equity at exit: $28,181

10-year hold

• IRR: —
• Equity multiple: 12.92×
• Total profit: $630,591
• Equity at exit: $16,341

Cash invested: $52,920 (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: 14.3×

Monthly cashflow live

• Estimated rent: $7,700 medium
• Mortgage (P&I): −$991
• Tax est. 1.5%: −$236 /mo · $2,835/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,617
• Net cashflow: $4,777

Break-even live

Break-even rent $1,653

Max offer price $189,000

Occupancy floor 33%

Sensitivity live

Price	-10% $4,907	-5% $4,842	+0% $4,777	+5% $4,712	+10% $4,646
Rent	-10% $4,169	-5% $4,473	+0% $4,777	+5% $5,081	+10% $5,385
Rate	-1.0pp $4,872	-0.5pp $4,825	base $4,777	+0.5pp $4,728	+1.0pp $4,678

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

Units	Beds	Baths	Est. rent
▸ 7× units	1	1	$7,700
Total (7 units)			$7,700

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $189,000 Active 117 DOM
2. 2026-06-18
   days on market $189,000 Active 115 DOM
3. 2026-06-17
   days on market $189,000 Active 114 DOM
4. 2026-06-16
   days on market $189,000 Active 113 DOM
5. 2026-06-15
   days on market $189,000 Active 112 DOM
6. 2026-06-13
   days on market $189,000 Active 110 DOM
7. 2026-06-12
   days on market $189,000 Active 109 DOM
8. 2026-06-09
   days on market $189,000 Active 106 DOM
9. 2026-06-08
   days on market $189,000 Active 105 DOM
10. 2026-06-07
    days on market $189,000 Active 104 DOM
11. 2026-06-07
    days on market $189,000 Active 103 DOM
12. 2026-06-04
    days on market $189,000 Active 100 DOM
13. 2026-06-02
    days on market $189,000 Active 99 DOM
14. 2026-06-01
    days on market $189,000 Active 98 DOM
15. 2026-05-31
    days on market $189,000 Active 97 DOM
16. 2026-02-23
    listed $189,000 Active 792-char remark

    Show marketing remark (792 chars)

    Welcome to 148-150 Madison St, Oneida, NY 13421 Prime downtown Oneida mixed-use property offering excellent investment potential. This well-maintained building features seven residential units and three large office spaces, providing a strong mix of commercial and residential income. The property is located in a high-traffic area within walking distance to restaurants, shops, banks, and other local amenities. The office spaces offer great visibility and flexible layouts suitable for a variety of professional or retail uses. The residential units provide consistent rental demand thanks to the convenient downtown location and proximity to major routes. Ideal for investors seeking a property with steady cash flow and growth opportunity in Oneida’s revitalized downtown district.

17. 2026-02-13
    historical
18. 2025-10-13
    listed $249,999 Active

ⓘ 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: $92,400
• − Mortgage interest: −$10,587
• − Property taxes: −$2,835
• − Insurance: −$945
• − Repairs & maintenance: −$7,392
• − Management: −$7,392
• − Depreciation: −$5,498
• Taxable income: $57,751
• Est. tax owed @ 24.0%: −$13,860
• After-tax cash flow: $43,462/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.

Condition & rehab AI · 1 photo

Fair 45/100 Moderate rehab

This multi-family property requires significant repairs and maintenance to bring it up to a fair condition. Immediate updates to the exterior, HVAC, and landscaping would significantly increase its resale and rental value.

Repairs flagged

• Major exterior paint — Peeling paint on brick facade
• Major roof — No visible damage, but age suggests potential issues
• Major flooring — No visible flooring, but age suggests wear
• Major interior walls/paint — No visible interior, but age suggests wear
• Major windows — No visible windows, but age suggests potential issues
• Major foundation/structure — No visible foundation, but age suggests potential issues
• Major HVAC/mechanicals — No visible HVAC/mechanicals, but age suggests potential issues
• Major landscaping — No visible landscaping, but age suggests potential issues

Value-add opportunities

• Both exterior paint — Enhances curb appeal and property value
• Both HVAC/mechanicals — Improves comfort and energy efficiency
• Both landscaping — Enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior paint · Peeling paint on brick facade	Major	$15,000–50,000
roof · No visible damage, but age suggests potential issues	Major	$15,000–50,000
flooring · No visible flooring, but age suggests wear	Major	$15,000–50,000
interior walls/paint · No visible interior, but age suggests wear	Major	$15,000–50,000
windows · No visible windows, but age suggests potential issues	Major	$15,000–50,000
foundation/structure · No visible foundation, but age suggests potential issues	Major	$15,000–50,000
HVAC/mechanicals · No visible HVAC/mechanicals, but age suggests potential issues	Major	$15,000–50,000
landscaping · No visible landscaping, but age suggests potential issues	Major	$15,000–50,000
Total estimated repair cost · 8 items		$120,000–400,000

Value-add ROI direction

• Both exterior paint — Enhances curb appeal and property value ↑
• Both HVAC/mechanicals — Improves comfort and energy efficiency ↑
• Both landscaping — Enhances curb appeal and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• Score: 61/100
• State rank: #924
• US rank: #18033

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oneida, NY
• City population: 12,742
• Population (ZIP): 12,742

Population outlook (Madison County) Hauer SSP2

• Today (2025): 69,528 people
• By 2030: 66,599 · -4.2%
• By 2040: 59,814 · -14.0%
• By 2050: 52,842 · -24.0%
• By 2075: 39,167 · -43.7%
• By 2100: 28,442 · -59.1%

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 · Madison

• 2024 margin: R (+13.1) · D 43.5% · R 56.5%
• 2008→2024 swing: -13.9pp toward R · 2008: 0.9pp · 2024: -13.1pp
• All cycles: 2024: R+13.1 2020: R+10.6 2016: R+15.9 2012: D+0.3 2008: D+0.9

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

-24.4% since first listed

3 events — show timeline

• 2026-02-23 Listed $189,000 CNYIS
• 2026-02-13 Listing Removed — CNYIS
• 2025-10-13 Listed $249,999 CNYIS