6188 N Main St · Sandy Creek, NY 13145

$370,000

3 bd · None ba · 3,272 sqft · MultiFamily public records · 28 Days on market

Built 1850 31 ac lot

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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
• Appreciation +8.9/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

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

Step back in time with this extraordinary 1800s farmhouse brimming with history, character, and endless potential! Located on the outskirts of town, this truly one of a kind property offers a rare opportunity for investors, entrepreneurs, or anyone dreaming of restoring a grand historic home to its original farmhouse charm. Currently configured as a multi-family rental property, the home features a total of 6 rental units, including two spacious apartments on the main floor, four studio apartments on the second floor, and an additional large unit on the third floor. Original details throughout the home showcase its rich history, including beautiful built-ins, warm wood finishes, and elegant

Key facts

• French style doors
• Original details
• Wood finishes

Tags

• 1800S FARMHOUSE
• MULTI-FAMILY RENTAL PROPERTY
• ORIGINAL DETAILS
• BUILT-INS
• WOOD FINISHES
• FRENCH STYLE DOORS

Property features AI

Finance

• Other: Multi-unit property with 6 total units; One separate gas meter; One separate electric meter; Lot irregular and wooded with main thoroughfare frontage
• Financial info: Operating expense details: see remarks; Owner pays: see remarks/other; Rent includes: see remarks

Exterior

• Parking: Driveway parking; Three or more parking spaces; No garage
• Utilities: Cable available; High-speed internet available; Public water connected; Septic tank; Circuit breaker electric service
• Home design: 3-story building; Resale fixer
• Construction: Vinyl siding; Wood siding; Asphalt and metal roofing
• Exterior features: Dirt driveway; Gravel driveway; Open porch

Interior

• Kitchen: Gas oven; Gas range; Refrigerator
• Flooring: Carpet; Vinyl; Varied flooring
• Heating & cooling: Gas heating; Baseboard heating; Hot water heating
• Interior features: Natural woodwork; Full basement with sump pump
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/?-bath multifamily listed at $370k.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $370k).
• Recommended offer: $364k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#826 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: health & safety D, crime F, amenities F.
• Sandy Creek Central School District (rural): math 44% / reading 52% proficiency, ranked #425 of 590 in NY (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 14 active listings in the ZIP; 172 units permitted in Oswego County in 2024 (27 in 5+ unit buildings).

Forward outlook

• In year one you build about $31k of equity ($3k loan paydown + $29k appreciation (7.8% local appreciation)).
• Oswego County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (7.8% appreciation + 3.0% rent growth), your $104k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$50k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($364k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1850 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $364,450 (1.5% below list)

Questions for the listing agent

1. Built in 1850 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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: 1.55% ✓
• Cap rate: 12.92%
• Cash-on-cash: 23.66%
• DSCR: 2.05
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.82% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 37.8%
• Equity multiple: 3.65×
• Total profit: $274,041
• Equity at exit: $276,480

10-year hold

• IRR: 33.8%
• Equity multiple: 7.77×
• Total profit: $701,636
• Equity at exit: $544,463

Cash invested: $103,600 (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 13145

• Home prices YoY: 2.5%
• Active inventory: 14
• Price-to-rent: 36.3×

Monthly cashflow live

• Estimated rent: $5,735 medium
• Mortgage (P&I): −$1,940
• Tax from tax record: −$393 /mo · $4,719/yr
• Insurance: −$154
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,204
• Net cashflow: $1,976

Break-even live

Break-even rent $3,233

Max offer price $370,000

Occupancy floor 61%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,700
▸ 5× units	1	1	$4,035
Total (7 units)			$5,735

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: $92,500
• Closing costs: $11,100
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $370,000 Active 28 DOM
2. 2026-06-17
   days on market $370,000 Active 27 DOM
3. 2026-06-16
   days on market $370,000 Active 26 DOM
4. 2026-06-15
   days on market $370,000 Active 25 DOM
5. 2026-06-13
   days on market $370,000 Active 23 DOM
6. 2026-06-12
   days on market $370,000 Active 22 DOM
7. 2026-06-09
   days on market $370,000 Active 19 DOM
8. 2026-06-08
   days on market $370,000 Active 18 DOM
9. 2026-06-07
   days on market $370,000 Active 17 DOM
10. 2026-06-07
    days on market $370,000 Active 16 DOM
11. 2026-06-04
    days on market $370,000 Active 13 DOM
12. 2026-06-02
    days on market $370,000 Active 12 DOM
13. 2026-06-01
    days on market $370,000 Active 11 DOM
14. 2026-05-31
    days on market $370,000 Active 10 DOM
15. 2026-05-20
    listed $370,000 Active
16. 2023-11-10
    historical
17. 2023-05-09
    listed $195,900 Active
18. 2023-05-08
    historical
19. 2022-11-01
    listed $210,000 Active
20. 2022-10-28
    historical
21. 2022-10-28
    historical
22. 2022-06-21
    price $225,900
23. 2022-06-21
    price $225,900
24. 2022-04-19
    listed $249,000 Active
25. 2022-04-19
    listed $249,000 Active

ⓘ 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: $4,719 · $393/mo
• Projected year-2 tax: $5,486 · $457/mo
• Expected delta: +$767/yr (+$64/mo · 16.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥89°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $68,820
• − Mortgage interest: −$20,726
• − Property taxes: −$4,719
• − Insurance: −$2,648
• − Repairs & maintenance: −$5,506
• − Management: −$5,506
• − Depreciation: −$10,764
• Taxable income: $18,952
• Est. tax owed @ 24.0%: −$4,549
• After-tax cash flow: $19,168/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: Sandy Creek Central School District
• NCES district ID: 3625650
• Math proficiency: 44% ▼ -8.00%
• Reading proficiency: 52% ▲ 8.00%
• Median HH income: $46,647
• Composite: 40.78/100
• National rank: #3642
• State rank: #425 of 590 in NY

Livability — Sandy Creek

• Score: 63/100
• State rank: #826
• US rank: #16019

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sandy Creek, NY
• Population (ZIP): 1,794

Population outlook (Oswego County) Hauer SSP2

• Today (2025): 114,465 people
• By 2030: 109,968 · -3.9%
• By 2040: 99,205 · -13.3%
• By 2050: 87,979 · -23.1%
• By 2075: 65,100 · -43.1%
• By 2100: 47,117 · -58.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Hispanic / Latino 1% Two or more races 1%
• Common ancestry: German 8% Lithuanian 7% Romanian 5%
• Foreign-born: 0% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Oswego

• 2024 margin: Strong R (+24.2) · D 37.9% · R 62.1%
• 2008→2024 swing: -26.6pp toward R · 2008: 2.5pp · 2024: -24.2pp
• All cycles: 2024: R+24.2 2020: R+20.2 2016: R+23.2 2012: D+7.9 2008: D+2.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.82%
• Current HPI: 323.0282
• 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

+48.6% since first listed

11 events — show timeline

• 2026-05-20 Listed $370,000 CNYIS
• 2023-11-10 Listing Removed — CNYIS
• 2023-05-09 Listed $195,900 CNYIS
• 2023-05-08 Listing Removed — CNYIS
• 2022-11-01 Listed $210,000 CNYIS
• 2022-10-28 Listing Removed — CNYIS
• 2022-10-28 Listing Removed — CNYIS
• 2022-06-21 Price Changed $225,900 CNYIS
• 2022-06-21 Price Changed $225,900 CNYIS
• 2022-04-19 Listed $249,000 CNYIS
• 2022-04-19 Listed $249,000 CNYIS

Property tax history

+1.7%/yr

Latest (2025): $4,719 · -1.4% YoY. Source: county tax records.