34-36 Cliff St · Oneonta, NY 13820

$259,900

16 bd · 16.0 ba · 2,544 sqft · MultiFamily · 17 Days on market

Built 1900 Fair condition 7,840 sqft lot

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Why this score? — see what drove the A- 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 +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• 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 (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

Charming 4 unit investment property located 3 blocks to downtown! Classic front porch lines offer nice curb appeal. Plenty of off-street parking. Tenants pay all utilities. Solid cash flow flow opportunity. Double digit Return on Investment! Super opportunity. May be purchased with 4 family next door- 38-40 Cliff Street, a 10 bedroom fully occupied building. See MLS #R1687928. 34-36 Cliff St: Total rents: $37,200 annually. Expenses: Taxes $4,596, Water/Sewer $700, Insurance $1,700, Trash $1,200, snow $375, Maintenance and Vacancy at 5% of gross $2,600. Total expenses $11,171. NOI $26,029. Mortgage cost $18,600 ($259,900, 20% down. 20 year amort, 6.25%), Net Income $7,429 / $51,980 (d

Key facts

• 7,840 sq ft lot
• Parking
• Built 1900

Property features AI

Finance

• Other: Owner pays grounds care, snow removal, trash collection, and water; Tenants pay all utilities; Rent includes common area maintenance, gardener, snow removal, trash collection, and water
• Financial info: Gross income: $37,200 (multi-family); Operating expenses: $11,121; Operating expenses include insurance, maintenance (structure and general), snow removal, trash, water/sewer, and other items noted in remarks

Exterior

• Parking: Common gravel parking available
• Utilities: Public water connected; Sewer connected; Cable available; High-speed internet available
• Home design: 2-story multi-family residence; Residential multi-use zoning; Rectangular lot near public transit, city street frontage
• Construction: Frame construction; Flat rolled/hot mop roof; Stone foundation; Existing (established) building
• Exterior features: Covered porch

Interior

• Kitchen: Electric water heater
• Bedrooms: Total of 4 units (multi-family property)
• Flooring: Carpet; Vinyl; Varies by unit
• Bathrooms: Four full bathrooms (across the building)
• Heating & cooling: Gas forced air heating
• Interior features: Carpet and vinyl flooring in varying areas; Full, partially finished basement
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 4 × 4-bed/4.0-bath units multifamily listed at $260k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $3k ($41k/yr) — positive. Per door: $846/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $260k).
• Recommended offer: $256k (1.5% below list) — sets the bar for market timing.
• Cap rate 21.9% vs local median 5.5% in Oneonta — 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 75/100 on livability (#253 in NY, #4,021 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living B+; Watch: amenities C-, crime F, commute F.
• Oneonta City School District (town): math 46% / reading 57% proficiency, ranked #374 of 590 in NY (top 63%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Greater Plains Elementary School (math 37% / reading 57%, grade D-, #1,195 of 2,108 statewide, top 60%, 284 students, 40% FRL); Oneonta Middle School (math 28% / reading 56%, grade D-, #379 of 729 statewide, top 54%, 378 students, 44% FRL); Oneonta Senior High School (math 92% / reading 75%, grade A, #409 of 1,100 statewide, top 39%, 502 students, 37% FRL).
• Market conditions: 119 active listings in the ZIP; 133 units permitted in Otsego County in 2024 (10 in 5+ unit buildings).
• At $6,559/mo this rent would consume 119% of the median local household income ($66k/yr) (locally 662% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $28k of equity ($2k loan paydown + $26k appreciation (10.0% local appreciation)).
• Otsego County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $73k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($256k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $256,001 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.52% ✓
• Cap rate: 21.92%
• Cash-on-cash: 55.83%
• DSCR: 3.48
• GRM: 3.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 68.6%
• Equity multiple: 5.91×
• Total profit: $357,272
• Equity at exit: $234,139

10-year hold

• IRR: 62.3%
• Equity multiple: 13.13×
• Total profit: $882,737
• Equity at exit: $504,929

Cash invested: $72,772 (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 13820

• Home prices YoY: 22.7%
• Active inventory: 119
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $6,559 medium
• Mortgage (P&I): −$1,363
• Tax est. 1.5%: −$325 /mo · $3,898/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,377
• Net cashflow: $3,385

Break-even live

Break-even rent $2,274

Max offer price $259,900

Occupancy floor 43%

Sensitivity live

Price	-10% $3,565	-5% $3,475	+0% $3,385	+5% $3,296	+10% $3,206
Rent	-10% $2,867	-5% $3,126	+0% $3,385	+5% $3,645	+10% $3,904
Rate	-1.0pp $3,516	-0.5pp $3,452	base $3,385	+0.5pp $3,318	+1.0pp $3,250

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

Units	Beds	Baths	Est. rent
▸ 4× units	4	4	$6,560
Total (4 units)			$6,559

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: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-21
   days on market $259,900 Active 17 DOM
2. 2026-06-19
   days on market $259,900 Active 15 DOM
3. 2026-06-18
   days on market $259,900 Active 14 DOM
4. 2026-06-17
   days on market $259,900 Active 13 DOM
5. 2026-06-16
   days on market $259,900 Active 12 DOM
6. 2026-06-15
   days on market $259,900 Active 11 DOM
7. 2026-06-14
   days on market $259,900 Active 9 DOM
8. 2026-06-12
   days on market $259,900 Active 8 DOM
9. 2026-06-09
   days on market $259,900 Active 5 DOM
10. 2026-06-08
    days on market $259,900 Active 4 DOM
11. 2026-06-07
    days on market $259,900 Active 3 DOM
12. 2026-06-07
    remarks 699-char remark
13. 2026-06-07
    listed $259,900 Active 2 DOM

ⓘ 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 8 d/yr ≥93°F today · 18 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: $78,708
• − Mortgage interest: −$14,558
• − Property taxes: −$3,898
• − Insurance: −$1,300
• − Repairs & maintenance: −$6,297
• − Management: −$6,297
• − Depreciation: −$7,561
• Taxable income: $38,798
• Est. tax owed @ 24.0%: −$9,311
• After-tax cash flow: $31,315/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 · 13 photos

Fair 45/100 Moderate rehab

This multi-family property requires significant repairs and maintenance, including repainting, replacing the HVAC system, and repairing the roof and siding. The property has a fair condition score and is in need of extensive renovations to improve its value.

Repairs flagged

• Major roof — Significant damage is visible on the roof, indicating a major repair is needed.
• Major siding — The siding is peeling and in need of repainting, indicating a major repair is needed.
• Major exterior walls — The exterior walls appear to be in poor condition, with visible signs of wear and tear.
• Major windows — The windows appear to be in poor condition, with some showing signs of damage.
• Major HVAC system — The HVAC system appears to be in poor condition, with visible signs of wear and tear.

Value-add opportunities

• Both repainting the exterior and interior walls — Repainting the exterior and interior walls can significantly improve the curb appeal and interior condition, making the property more attractive to potential buyers or renters.
• Both replacing the HVAC system — Replacing the HVAC system can improve the comfort and energy efficiency of the property, making it more attractive to potential buyers or renters.
• Both repairing the roof and siding — Repairing the roof and siding can improve the structural integrity and curb appeal of the property, making it more attractive to potential buyers or renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Significant damage is visible on the roof, indicating a major repair is needed.	Major	$15,000–50,000
siding · The siding is peeling and in need of repainting, indicating a major repair is needed.	Major	$15,000–50,000
exterior walls · The exterior walls appear to be in poor condition, with visible signs of wear and tear.	Major	$15,000–50,000
windows · The windows appear to be in poor condition, with some showing signs of damage.	Major	$15,000–50,000
HVAC system · The HVAC system appears to be in poor condition, with visible signs of wear and tear.	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both repainting the exterior and interior walls — Repainting the exterior and interior walls can significantly improve the curb appeal and interior condition, making the property more attractive to potential buyers or renters. ↑
• Both replacing the HVAC system — Replacing the HVAC system can improve the comfort and energy efficiency of the property, making it more attractive to potential buyers or renters. ↑
• Both repairing the roof and siding — Repairing the roof and siding can improve the structural integrity and curb appeal of the property, making it more attractive to potential buyers or renters. ↑

ⓘ 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: Oneonta City School District
• NCES district ID: 3621780
• Math proficiency: 46% ▼ -2.00%
• Reading proficiency: 57% ▲ 14.00%
• Median HH income: $41,631
• Composite: 43.19/100
• National rank: #3066
• State rank: #374 of 590 in NY

Livability — Oneonta

• Score: 75/100
• State rank: #253
• US rank: #4021

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oneonta, NY
• County: Otsego County · 23,056 people
• City population: 23,056
• Metro: Oneonta, NY
• Population (ZIP): 23,056
• Household income: $65,953
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 662.0

Population outlook (Otsego County) Hauer SSP2

• Today (2025): 57,987 people
• By 2030: 55,403 · -4.5%
• By 2040: 50,336 · -13.2%
• By 2050: 45,715 · -21.2%
• By 2075: 38,769 · -33.1%
• By 2100: 33,468 · -42.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 6% Black 5% Two or more races 5% Asian 2%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Romanian 4% Slovak 2% Lithuanian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 94% English-only · Spanish 3% Russian/Polish/Slavic 1% Other Indo-European 1%

Political lean MEDSL · Otsego

• 2024 margin: Lean R (+7.9) · D 46.1% · R 53.9%
• 2008→2024 swing: -13.8pp toward R · 2008: 5.9pp · 2024: -7.9pp
• All cycles: 2024: R+7.9 2020: R+5.0 2016: R+13.0 2012: D+2.0 2008: D+5.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 67.86%
• Current HPI: 366.3391
• Rent YoY: —
• Metro: Oneonta, NY
• 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

1 event — show timeline

• 2026-06-03 Listed $259,900 UNYREIS