404 Main St · Boonville, NY 13309

$49,900

3 bd · 1.5 ba · 2,082 sqft · SingleFamily public records · 463 Days on market

Built 1920 4,800 sqft lot $24/sqft · 60% below area ↓ 54% since listing

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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 +4.1/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Large home in convenient Village location. 2082 sq, ft aprx. Looking for a tender loving care owner. Potential is limitless , take a look. Don't miss this one. SOLD "AS IS" Make an offer.

Key facts

• 4,800 sq ft lot
• Built 1920
• Listed 463 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $601 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 20.8% vs local median 3.6% in Boonville — 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 79/100 on livability (#146 in NY, #2,225 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, commute F.
• Adirondack Central School District (rural): math 41% / reading 54% proficiency, ranked #426 of 590 in NY (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 38 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 $5k of equity ($345 loan paydown + $5k appreciation (10.0% 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 (10.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 463 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 4y ago; this cycle's ask has dropped $38k (43%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $43,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 463 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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. 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.
7. 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.
8. 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: 2.54% ✓
• Cap rate: 20.75%
• Cash-on-cash: 51.64%
• DSCR: 3.30
• GRM: 3.3

CMA / ARV

• ARV (median comp): $124,627
• List price: $49,900
• Delta: -59.96%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
105 Grove St	0.06mi	3/1.5	1,800 (-14%)	9mo	$47,000	$26	67
310 Main St	0.03mi	3/2.0	1,866 (-10%)	23mo	$66,950	$36	60
130 Erwin St	0.54mi	4/2.0 (+1)	2,126 (+2%)	7mo	$45,000	$21	58
123 Erwin St	0.54mi	3/2.5	2,004 (-4%)	20mo	$159,650	$80	48
133 Erwin St	0.57mi	4/1.5 (+1)	1,902 (-9%)	20mo	$155,000	$81	37
8280 Ford St	0.70mi	4/2.0 (+1)	2,300 (+10%)	12mo	$245,000	$107	33

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 65.0%
• Equity multiple: 5.69×
• Total profit: $65,524
• Equity at exit: $44,954

10-year hold

• IRR: 58.6%
• Equity multiple: 12.66×
• Total profit: $162,946
• Equity at exit: $96,945

Cash invested: $13,972 (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 13309

• Home prices YoY: 24.5%
• Active inventory: 38
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,267 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$117 /mo · $1,402/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $601

Break-even live

Break-even rent $506

Max offer price $49,900

Occupancy floor 48%

Sensitivity live

Price	-10% $629	-5% $615	+0% $601	+5% $587	+10% $573
Rent	-10% $501	-5% $551	+0% $601	+5% $651	+10% $701
Rate	-1.0pp $626	-0.5pp $614	base $601	+0.5pp $588	+1.0pp $575

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-05-02
   status Pending 201-char remark

   Show marketing remark (201 chars)

   Large home in convenient Village location. 2082 sq, ft aprx. Looking for a tender loving care owner. Potential is limitless , take a look. Don't miss this one. SOLD "AS IS" Make an offer.

2. 2025-11-25
   price $49,900 201-char remark

   Show marketing remark (201 chars)

   Large home in convenient Village location. 2082 sq, ft aprx. Looking for a tender loving care owner. Potential is limitless , take a look. Don't miss this one. SOLD "AS IS" Make an offer.

3. 2025-09-19
   price $59,900 201-char remark

   Show marketing remark (201 chars)

   Large home in convenient Village location. 2082 sq, ft aprx. Looking for a tender loving care owner. Potential is limitless , take a look. Don't miss this one. SOLD "AS IS" Make an offer.

4. 2025-05-05
   price $75,000 201-char remark

   Show marketing remark (201 chars)

   Large home in convenient Village location. 2082 sq, ft aprx. Looking for a tender loving care owner. Potential is limitless , take a look. Don't miss this one. SOLD "AS IS" Make an offer.

5. 2025-01-24
   listed $87,500 Active 201-char remark

   Show marketing remark (201 chars)

   Large home in convenient Village location. 2082 sq, ft aprx. Looking for a tender loving care owner. Potential is limitless , take a look. Don't miss this one. SOLD "AS IS" Make an offer.

6. 2025-01-22
   historical
7. 2024-11-22
   status Active
8. 2024-11-12
   historical
9. 2024-08-14
   listed $87,500 Active
10. 2024-06-26
    historical
11. 2024-05-04
    price $87,500
12. 2024-04-01
    status Active
13. 2024-03-31
    historical
14. 2023-11-15
    price $91,500
15. 2022-12-26
    status Active
16. 2022-12-24
    historical
17. 2022-09-25
    historical
18. 2022-09-23
    listed $99,900 Active
19. 2022-05-26
    listed $107,900 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: $1,402 · $117/mo
• Projected year-2 tax: $1,402 · $117/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 3/10 Moderate
• 🌡 Heat 1/10 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 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,199
• − Mortgage interest: −$2,795
• − Property taxes: −$1,402
• − Insurance: −$250
• − Repairs & maintenance: −$1,216
• − Management: −$1,216
• − Depreciation: −$1,452
• Taxable income: $6,868
• Est. tax owed @ 24.0%: −$1,648
• After-tax cash flow: $5,567/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: Adirondack Central School District
• NCES district ID: 3605040
• Math proficiency: 41% ▼ -5.00%
• Reading proficiency: 54% ▲ 5.00%
• Median HH income: $50,343
• Composite: 40.7/100
• National rank: #3669
• State rank: #426 of 590 in NY

Livability — Boonville

• Score: 79/100
• State rank: #146
• US rank: #2225

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Boonville, NY
• City population: 5,828
• Population (ZIP): 5,828

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 (95%)
• Race & ethnicity: White 95% Two or more races 4%
• Common ancestry: Romanian 10% Lithuanian 5% Slovak 3%
• Foreign-born: 0%

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: ▲ 83.52%
• Current HPI: 425.0098
• 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

-53.8% since first listed

19 events — show timeline

• 2026-05-02 Pending — CNYIS
• 2025-11-25 Price Changed $49,900 CNYIS
• 2025-09-19 Price Changed $59,900 CNYIS
• 2025-05-05 Price Changed $75,000 CNYIS
• 2025-01-24 Listed $87,500 CNYIS
• 2025-01-22 Listing Removed — CNYIS
• 2024-11-22 Relisted — CNYIS
• 2024-11-12 Listing Removed — CNYIS
• 2024-08-14 Listed $87,500 CNYIS
• 2024-06-26 Listing Removed — Global MLS
• 2024-05-04 Price Changed $87,500 Global MLS
• 2024-04-01 Relisted — Global MLS
• 2024-03-31 Listing Removed — Global MLS
• 2023-11-15 Price Changed $91,500 Global MLS
• 2022-12-26 Relisted — Global MLS
• 2022-12-24 Listing Removed — Global MLS
• 2022-09-25 Listing Removed — CNYIS
• 2022-09-23 Listed $99,900 Global MLS
• 2022-05-26 Listed $107,900 CNYIS

Property tax history

-2.9%/yr

Latest (2025): $1,402 · -26.3% YoY. Source: county tax records.