7798 Middle Rd Unit SS

Rome, NY 13440

$24,700D+

4 bd · 1.0 ba · 1,716 sqft · Built 1960 · SingleFamily · Pending · 183 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,756/mo
• Mortgage (P&I): −$130
• Tax + insurance: −$41
• HOA: −$0
• Vac / Maint / Mgmt: −$369
• Net cashflow: $1,217/mo
• Annual: $14,601/yr
• Cap rate: 65.40%
• Cash-on-cash: 211.11%
• DSCR: 10.39
• 1% rule: 7.11%
• Cash to close: $6,916

Investor read

• This is a 4-bed/1.0-bath single-family listed at $25k.
• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $25k).
• It's been on market 183 days — a 12% lower offer ($22k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $22k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $171 of loan paydown is wiped out by about $741 of value loss. Plan a longer hold.
• 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-, amenities F, commute F.
• Holland Patent Central School District (rural): math 44% / reading 63% proficiency, ranked #303 of 590 in NY (top 51%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: General William Floyd Elementary School (315 students, 29% FRL); Holland Patent Middle School (math 29% / reading 56%, grade D-, #373 of 729 statewide, top 52%, 285 students, 44% FRL); Holland Patent Central High School (math 98% / reading 87%, grade A+, #158 of 1,100 statewide, top 15%, 409 students, 44% FRL).
• Zoned-school proficiency averages 67% at this address vs 54% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Holland Patent Central School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 283 active listings in the ZIP; 204 units permitted in Oneida County in 2024 (68 in 5+ unit buildings).
• Oneida County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $35k (59%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.
• Cap rate 65.4% vs local median 5.7% 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.

Questions for listing agent

• It's been on market 183 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.