608 Grant Pl · Rome, NY 13440

$85,000

2 bd · 1.0 ba · 1,272 sqft · SingleFamily public records · 86 Days on market

Built 1942 7,405 sqft lot Est $158k · 46% under

---

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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Well Maintained Cape on Quite Street. .. Newer Roof and Updated electric. .. Nice yard and a Full Basement. .. Lots of storage. .. New Flooring. .. Radon Mitigation system in place. .. A Solid House from Top To Bottom Move in Ready, come see for yourself!!!

Key facts

• Private backyard
• Stainless appliances
• Updated kitchen

Tags

• HARDWOOD FLOORS
• UPDATED BATHROOM
• UPDATED KITCHEN
• STAINLESS APPLIANCES
• PRIVATE BACKYARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $374 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $80k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.6% 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; 2 comparable units currently listed for rent nearby; 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 $588 of loan paydown is wiped out by about $3k 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 $24k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 21y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $73k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
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 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: 1.56% ✓
• Cap rate: 11.58%
• Cash-on-cash: 18.87%
• DSCR: 1.84
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $157,728
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
608 Grant Pl	0.00mi	3/1.0 (+1)	1,272 (0%)	1mo	$76,500	$60	94
412 Healy Ave	0.25mi	3/1.0 (+1)	1,254 (-1%)	5mo	$135,000	$108	77
532 Millbrook Rd	0.55mi	3/1.0 (+1)	1,284 (+1%)	1mo	$170,000	$132	66
900 Valentine Ave	0.42mi	2/1.0	1,182 (-7%)	6mo	$147,000	$124	63
120 Lyndale Dr	0.68mi	3/1.5 (+1)	1,275 (+0%)	1mo	$202,000	$158	60
500 Millbrook Rd	0.68mi	2/2.0	1,312 (+3%)	2mo	$190,000	$145	57
503 Millbrook Rd	0.65mi	3/1.0 (+1)	1,212 (-5%)	3mo	$90,000	$74	54
902 Mckinley Ave	0.35mi	3/2.0 (+1)	1,102 (-13%)	1mo	$190,000	$172	52
208 E Locust St	0.74mi	2/1.0	1,170 (-8%)	3mo	$120,000	$103	49
304 Mohawk St	0.42mi	3/2.5 (+1)	1,402 (+10%)	5mo	$50,000	$36	48
117 E Embargo St	0.56mi	3/2.0 (+1)	1,458 (+15%)	1mo	$70,000	$48	40
125 Riverview Pkwy S	0.75mi	3/1.5 (+1)	1,152 (-9%)	4mo	$157,000	$136	39

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: 10.8%
• Equity multiple: 1.43×
• Total profit: $10,140
• Equity at exit: $12,674

10-year hold

• IRR: 19.9%
• Equity multiple: 2.67×
• Total profit: $39,825
• Equity at exit: $7,349

Cash invested: $23,800 (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: 5.3×

Monthly cashflow live

• Estimated rent: $1,327 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$193 /mo · $2,316/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $374

Break-even live

Break-even rent $853

Max offer price $85,000

Occupancy floor 67%

Sensitivity live

Price	-10% $422	-5% $398	+0% $374	+5% $350	+10% $326
Rent	-10% $269	-5% $322	+0% $374	+5% $427	+10% $479
Rate	-1.0pp $417	-0.5pp $396	base $374	+0.5pp $352	+1.0pp $330

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
149 River St Unit 2 Rome, NY	3.0	1.0	1160	$1,500	$1.29	45d	1	0.49mi
183 W Dominick St Rome, NY	1.0–2.0	1.0	845	$904	$1.07	44d	1	0.88mi

Listing history 18 events

1. 2026-03-29
   status Pending
2. 2026-02-10
   price $85,000
3. 2026-01-01
   listed $90,000 Active
4. 2019-10-28
   soldstatus $73,000
5. 2019-10-21
   soldstatus $73,000 257-char remark

   Show marketing remark (257 chars)

   Well Maintained Cape on Quite Street. .. Newer Roof and Updated electric. .. Nice yard and a Full Basement. .. Lots of storage. .. New Flooring. .. Radon Mitigation system in place. .. A Solid House from Top To Bottom Move in Ready, come see for yourself!!!

6. 2019-05-10
   listed $75,000 257-char remark

   Show marketing remark (257 chars)

   Well Maintained Cape on Quite Street. .. Newer Roof and Updated electric. .. Nice yard and a Full Basement. .. Lots of storage. .. New Flooring. .. Radon Mitigation system in place. .. A Solid House from Top To Bottom Move in Ready, come see for yourself!!!

7. 2017-05-09
   soldstatus $60,000 476-char remark

   Show marketing remark (476 chars)

   Renting? WHY?!?!? You can have your own piece of the 21st century American dream at a 20th century price! At nearly 1300 sq ft, this property is larger than it looks from the street. Here's the best part. .. NEW roof, NEW high efficiency furnace, NEW water tank, NEW refrigerator, updated vinyl windows, Spray foam & blown-in insulation in both the attic & basement! Full, dry basement, quiet street. This place is MOVE IN READY and PRICED TO SELL! Don't miss out.

8. 2017-05-03
   soldstatus $60,000
9. 2017-02-16
   listed $64,900 476-char remark

   Show marketing remark (476 chars)

   Renting? WHY?!?!? You can have your own piece of the 21st century American dream at a 20th century price! At nearly 1300 sq ft, this property is larger than it looks from the street. Here's the best part. .. NEW roof, NEW high efficiency furnace, NEW water tank, NEW refrigerator, updated vinyl windows, Spray foam & blown-in insulation in both the attic & basement! Full, dry basement, quiet street. This place is MOVE IN READY and PRICED TO SELL! Don't miss out.

10. 2016-11-02
    listed $64,900
11. 2014-03-27
    soldstatus $53,000
12. 2014-03-24
    soldstatus $50,000
13. 2013-08-21
    listed $59,900
14. 2012-07-30
    historical
15. 2012-01-30
    listed $64,900
16. 2005-12-01
    soldstatus $40,000
17. 2005-11-30
    soldstatus $40,000
18. 2005-09-19
    listed $40,000

ⓘ 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: $2,316 · $193/mo
• Projected year-2 tax: $2,316 · $193/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥94°F today · 17 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: $15,926
• − Mortgage interest: −$4,761
• − Property taxes: −$2,316
• − Insurance: −$425
• − Repairs & maintenance: −$1,274
• − Management: −$1,274
• − Depreciation: −$2,473
• Taxable income: $3,403
• Est. tax owed @ 24.0%: −$817
• After-tax cash flow: $3,675/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

+112.5% since first listed

18 events — show timeline

• 2026-03-29 Pending — CNYIS
• 2026-02-10 Price Changed $85,000 CNYIS
• 2026-01-01 Listed $90,000 CNYIS
• 2019-10-28 Sold (Public Records) $73,000 Public Records
• 2019-10-21 Sold (MLS) $73,000 CNYIS
• 2019-05-10 Listed $75,000 CNYIS
• 2017-05-09 Sold (MLS) $60,000 CNYIS
• 2017-05-03 Sold (Public Records) $60,000 Public Records
• 2017-02-16 Listed $64,900 CNYIS
• 2016-11-02 Listed $64,900 CNYIS
• 2014-03-27 Sold (MLS) $53,000 CNYIS
• 2014-03-24 Sold (Public Records) $50,000 Public Records
• 2013-08-21 Listed $59,900 CNYIS
• 2012-07-30 Listing Removed — CNYIS
• 2012-01-30 Listed $64,900 CNYIS
• 2005-12-01 Sold (Public Records) $40,000 Public Records
• 2005-11-30 Sold (MLS) $40,000 CNYIS
• 2005-09-19 Listed $40,000 CNYIS

Property tax history

+1.7%/yr

Latest (2025): $2,316 · +0.3% YoY. Source: county tax records.