7373 Rt 20 · Waterville, NY 13480

$599,900

1 bd · None ba · 2,112 sqft · MultiFamily · 112 Days on market

Built 1950 Fair condition $284/sqft · 91% above area ↓ 12% 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
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• ARV discount +7.5/15.0
• Appreciation +7.4/10.0
• Schools +4.1/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

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 MLS

Price drastically reduced! Attention business minded individuals looking to create or add to their investment portfolio to improve their financial assets. This pristine kept, turnkey property is currently operating as a successful Airbnb. 8 studio apts fully furnished with all supplies & contents included, consisting of 4 larger units, #'s 1,2,7 & 8 generating $1050.00 per month, $675.00 weekly rate, all include full baths, refrigerators, stoves, microwaves & flat screen TV's . Unit #'s 3,4,5 & 6 generating $850.00 per month, $500.00 weekly rate, all include full baths, refrigerators, microwaves & flats screen TV's. All apts include an A/C window unit. A $150.00 cleaning fee is charged to guests per unit per stay & is not included in the gross annual income. Current owner attributes the success of his business partly to the proximity to Hamilton College, Colgate University & Morrisville College, all within 15 miles from his & the influx of people it attracts as well as other professional who gravitate to a convenient country location. Additionally the quaint Village of Waterville is only within 5 minutes. Updates to include new privacy fence & water softener both in 2025, brand new electronic door locks for each unit in 2026 & all hot water tanks less than 5yrs old. Added features & benefits include laundry on site, high speed internet with an eero boost system giving all guests equal functioning power & a huge blacktop parking lot with ample space for each unit new in 2020

Key facts

• A/c window unit
• New privacy fence
• Turnkey property

Tags

• TURNKEY PROPERTY
• FULLY FURNISHED
• A/C WINDOW UNIT
• PROXIMITY TO HAMILTON COLLEGE
• QUAINT VILLAGE OF WATERVILLE
• NEW PRIVACY FENCE

What this means for you Summary

Snapshot

• This is a 1-bed/?-bath multifamily listed at $600k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $3k ($31k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $600k).
• Recommended offer: $546k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 75/100 on livability (#248 in NY, #3,907 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, crime A; Watch: amenities F, commute F.
• Waterville Central School District (rural): math 44% / reading 52% proficiency, ranked #422 of 590 in NY (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Memorial Park Elementary School (math 32% / reading 52%, grade F, #1,361 of 2,108 statewide, top 67%, 396 students, 51% FRL); Waterville Jr/Sr High School (math 52% / reading 47%, grade D, #974 of 1,100 statewide, top 91%, 312 students, 50% FRL) — zoned schools average 50% FRL vs 35% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 26 active listings in the ZIP; 204 units permitted in Oneida County in 2024 (68 in 5+ unit buildings).

Forward outlook

• In year one you build about $33k of equity ($4k loan paydown + $29k appreciation (4.8% local appreciation)).
• Oneida County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.8% appreciation + 3.0% rent growth), your $168k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$53k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($546k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $545,909 (9.0% below list)

Questions for the listing agent

1. It's been on market 112 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 1950 — 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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.43% ✓
• Cap rate: 11.52%
• Cash-on-cash: 18.67%
• DSCR: 1.83
• GRM: 5.8

CMA / ARV

• ARV (median comp): $314,686
• List price: $599,900
• Delta: 90.63%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

4.76% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.6%
• Equity multiple: 2.77×
• Total profit: $296,799
• Equity at exit: $331,390

10-year hold

• IRR: 27.6%
• Equity multiple: 5.51×
• Total profit: $757,587
• Equity at exit: $564,974

Cash invested: $167,972 (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 13480

• Home prices YoY: 1.6%
• Active inventory: 26
• Price-to-rent: 46.7×

Monthly cashflow live

• Estimated rent: $8,556 medium
• Mortgage (P&I): −$3,146
• Tax est. 1.5%: −$750 /mo · $8,998/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,797
• Net cashflow: $2,613

Break-even live

Break-even rent $5,248

Max offer price $599,900

Occupancy floor 64%

Sensitivity live

Price	-10% $3,028	-5% $2,821	+0% $2,613	+5% $2,406	+10% $2,199
Rent	-10% $1,938	-5% $2,276	+0% $2,613	+5% $2,951	+10% $3,289
Rate	-1.0pp $2,916	-0.5pp $2,766	base $2,613	+0.5pp $2,458	+1.0pp $2,300

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

Units	Beds	Baths	Est. rent
▸ 8× units	0	1	$8,560
Total (8 units)			$8,556

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: $149,975
• Closing costs: $17,997
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $599,900 Active 112 DOM
2. 2026-06-21
   days on market $599,900 Active 111 DOM
3. 2026-06-18
   days on market $599,900 Active 109 DOM
4. 2026-06-17
   days on market $599,900 Active 108 DOM
5. 2026-06-16
   days on market $599,900 Active 107 DOM
6. 2026-06-15
   days on market $599,900 Active 106 DOM
7. 2026-06-13
   days on market $599,900 Active 104 DOM
8. 2026-06-12
   days on market $599,900 Active 103 DOM
9. 2026-06-09
   days on market $599,900 Active 100 DOM
10. 2026-06-08
    days on market $599,900 Active 99 DOM
11. 2026-06-07
    days on market $599,900 Active 98 DOM
12. 2026-06-07
    days on market $599,900 Active 97 DOM
13. 2026-06-04
    days on market $599,900 Active 94 DOM
14. 2026-06-02
    days on market $599,900 Active 93 DOM
15. 2026-06-01
    days on market $599,900 Active 92 DOM
16. 2026-05-31
    days on market $599,900 Active 91 DOM
17. 2026-04-28
    price $599,900 1570-char remark

    Show marketing remark (1570 chars)

    Price drastically reduced! Attention business minded individuals looking to create or add to their investment portfolio to improve their financial assets. This pristine kept, turnkey property is currently operating as a successful Airbnb. 8 studio apts fully furnished with all supplies & contents included, consisting of 4 larger units, #'s 1,2,7 & 8 generating $1050.00 per month, $675.00 weekly rate, all include full baths, refrigerators, stoves, microwaves & flat screen TV's . Unit #'s 3,4,5 & 6 generating $850.00 per month, $500.00 weekly rate, all include full baths, refrigerators, microwaves & flats screen TV's. All apts include an A/C window unit. A $150.00 cleaning fee is charged to guests per unit per stay & is not included in the gross annual income. Current owner attributes the success of his business partly to the proximity to Hamilton College, Colgate University & Morrisville College, all within 15 miles from his & the influx of people it attracts as well as other professional who gravitate to a convenient country location. Additionally the quaint Village of Waterville is only within 5 minutes. Updates to include new privacy fence & water softener both in 2025, brand new electronic door locks for each unit in 2026 & all hot water tanks less than 5yrs old. Added features & benefits include laundry on site, high speed internet with an eero boost system giving all guests equal functioning power & a huge blacktop parking lot with ample space for each unit new in 2020

18. 2026-03-02
    listed $679,900 Active 1570-char remark

    Show marketing remark (1570 chars)

    Price drastically reduced! Attention business minded individuals looking to create or add to their investment portfolio to improve their financial assets. This pristine kept, turnkey property is currently operating as a successful Airbnb. 8 studio apts fully furnished with all supplies & contents included, consisting of 4 larger units, #'s 1,2,7 & 8 generating $1050.00 per month, $675.00 weekly rate, all include full baths, refrigerators, stoves, microwaves & flat screen TV's . Unit #'s 3,4,5 & 6 generating $850.00 per month, $500.00 weekly rate, all include full baths, refrigerators, microwaves & flats screen TV's. All apts include an A/C window unit. A $150.00 cleaning fee is charged to guests per unit per stay & is not included in the gross annual income. Current owner attributes the success of his business partly to the proximity to Hamilton College, Colgate University & Morrisville College, all within 15 miles from his & the influx of people it attracts as well as other professional who gravitate to a convenient country location. Additionally the quaint Village of Waterville is only within 5 minutes. Updates to include new privacy fence & water softener both in 2025, brand new electronic door locks for each unit in 2026 & all hot water tanks less than 5yrs old. Added features & benefits include laundry on site, high speed internet with an eero boost system giving all guests equal functioning power & a huge blacktop parking lot with ample space for each unit new in 2020

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 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: $102,672
• − Mortgage interest: −$33,604
• − Property taxes: −$8,998
• − Insurance: −$3,000
• − Repairs & maintenance: −$8,214
• − Management: −$8,214
• − Depreciation: −$17,452
• Taxable income: $23,191
• Est. tax owed @ 24.0%: −$5,566
• After-tax cash flow: $25,796/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 · 2 photos

Fair 45/100 Moderate rehab

This multi-family property requires moderate repairs and maintenance, including painting the exterior and trimming the landscaping. Upgrading the HVAC system and renovating the interior can significantly increase its value.

Repairs flagged

• Moderate siding — The siding is weathered and may need repainting.
• Minor landscaping — The landscaping is overgrown and needs trimming.

Value-add opportunities

• Both painting the exterior — Painting the exterior can improve the curb appeal and increase both resale and rental value.
• Both trimming the landscaping — Trimming the landscaping can enhance the property's appearance and attract more tenants or buyers.
• Both upgrading the HVAC system — Upgrading the HVAC system can improve comfort and energy efficiency, increasing both resale and rental value.
• Both renovating the interior — Renovating the interior can make the property more attractive and increase both resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · The siding is weathered and may need repainting.	Moderate	$3,000–15,000
landscaping · The landscaping is overgrown and needs trimming.	Minor	$500–3,000
Total estimated repair cost · 2 items		$3,500–18,000

Value-add ROI direction

• Both painting the exterior — Painting the exterior can improve the curb appeal and increase both resale and rental value. ↑
• Both trimming the landscaping — Trimming the landscaping can enhance the property's appearance and attract more tenants or buyers. ↑
• Both upgrading the HVAC system — Upgrading the HVAC system can improve comfort and energy efficiency, increasing both resale and rental value. ↑
• Both renovating the interior — Renovating the interior can make the property more attractive and increase both resale and rental 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: Waterville Central School District
• NCES district ID: 3630160
• Math proficiency: 44% ▼ -23.00%
• Reading proficiency: 52% ▼ -1.00%
• Median HH income: $49,873
• Composite: 41.09/100
• National rank: #3570
• State rank: #422 of 590 in NY

Livability — Waterville

• Score: 75/100
• State rank: #248
• US rank: #3907

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,454

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 (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 6% Iranian 3% Lithuanian 3%
• Foreign-born: 2% · Canada, China, Guatemala
• Languages at home: 95% English-only · Russian/Polish/Slavic 2% Spanish 1% Chinese 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: ▲ 4.76%
• Current HPI: 298.8868
• 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

-11.8% since first listed

2 events — show timeline

• 2026-04-28 Price Changed $599,900 CNYIS
• 2026-03-02 Listed $679,900 CNYIS