7-9 Reynolds Ave · Oneonta, NY 13820

$289,000

6 bd · 2.0 ba · 2,050 sqft · MultiFamily · 35 Days on market

Built 1960 Fair condition $141/sqft · 22% below area Est $373k · 22% under

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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 +17.8/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +5.6/10.0
• 1% rule +4.8/10.0
• 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: 2 units. confirmed

Listing remarks MLS

Hello Investors! Recently updated two unit multifamily available in Center City Oneonta. Major improvements throughout the house. Maximize your rents with this six bedroom, two bath property on Reynolds Ave. Each apartment occupies an entire floor, both units with three bedrooms and one bath. Great flow in each unit with plenty of space in the living and dining rooms. Both apartments have recently updated kitchens, baths and flooring. Current owner repaired the back foundation, and the house has new plumbing and electric throughout. Laundry unit conveniently located in common space between both apartments. Current use is as a student rental with strong rents for the '22-'23 school season. Downstairs: $4,200 per student per semesterUpstairs: $3,900 per student per semesterTOTAL RENT: $48,600Great rental location with great income results. Take advantage of all the new improvements in this house! Call today to schedule your showing!

Key facts

• Common-area laundry
• Two-unit duplex
• Updated kitchens

Tags

• TWO-UNIT DUPLEX
• PRIME LOCATION
• COMMON-AREA LAUNDRY
• UPDATED KITCHENS
• UPDATED PLUMBING
• UPDATED ELECTRICAL SYSTEMS

Property features AI

Finance

• Other: Owner pays grounds care, heat, hot water, snow removal, trash collection and water; Rent for each unit listed at $2,250 (units shown as leased)
• Financial info: Property has 2 total units with separate gas and electric meters for each unit; Operating expenses include maintenance, snow removal and trash

Exterior

• Parking: No driveway
• Utilities: Electricity connected; Public water connected; Sewer connected
• Home design: Two-story multi-unit property; Resale condition
• Construction: Composite and vinyl siding; Existing construction
• Exterior features: Rectangular residential lot with city street frontage; Lot dimensions approximately 42 x 107

Interior

• Kitchen: Each unit includes oven/range, refrigerator, and microwave; Formal dining room in each unit
• Bedrooms: Two 3-bedroom units
• Flooring: Combination of carpet, hardwood and varied flooring
• Bathrooms: Each unit has 1 full bathroom (2 full bathrooms total)
• Heating & cooling: Forced air heating; Electric and gas heating available
• Interior features: Furnished; Full basement
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $289k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $237 ($3k/yr) — positive. Per door: $118/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $283k (2.1% below list).
• Recommended offer: $280k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.3% 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.
• Market conditions: 118 active listings in the ZIP; 133 units permitted in Otsego County in 2024 (10 in 5+ unit buildings).
• At $2,828/mo this rent would consume 51% 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 $31k of equity ($2k loan paydown + $29k 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 $81k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$50k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($280k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 17y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $230k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $280,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 0.98% ✗
• Cap rate: 7.28%
• Cash-on-cash: 3.51%
• DSCR: 1.16
• GRM: 8.5

CMA / ARV

• ARV (median comp): $372,798
• List price: $289,000
• Delta: -22.48%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3 Reynolds Ave	0.01mi	6/2.0	1,950 (-5%)	15mo	$240,000	$123	79
16-18 Brook St	0.32mi	5/2.0 (-1)	2,000 (-2%)	1mo	$140,000	$70	75
27 Church St	0.06mi	7/2.0 (+1)	2,354 (+15%)	1mo	$360,000	$153	66
36 Grove St	0.27mi	6/2.0	2,124 (+4%)	21mo	$215,000	$101	64
74 Ford Ave	0.35mi	5/2.0 (-1)	2,076 (+1%)	20mo	$245,000	$118	60
34 Cherry St	0.22mi	5/2.0 (-1)	1,882 (-8%)	20mo	$257,000	$137	54
14 Ann St	0.56mi	5/2.0 (-1)	2,140 (+4%)	9mo	$179,900	$84	54
5 Brook St	0.25mi	6/2.0	1,808 (-12%)	20mo	$230,000	$127	52
22 Fair St	0.49mi	5/3.0 (-1)	2,024 (-1%)	23mo	$202,000	$100	46
56-58 East St	0.60mi	7/3.0 (+1)	1,926 (-6%)	14mo	$322,500	$167	41

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: 26.8%
• Equity multiple: 3.13×
• Total profit: $172,528
• Equity at exit: $260,354

10-year hold

• IRR: 23.5%
• Equity multiple: 7.13×
• Total profit: $496,287
• Equity at exit: $561,463

Cash invested: $80,920 (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: 118
• Price-to-rent: 17.0×

Monthly cashflow live

• Estimated rent: $2,828 medium
• Mortgage (P&I): −$1,516
• Tax est. 1.5%: −$361 /mo · $4,335/yr
• Insurance: −$120
• HOA: −$0
• Vacancy / Maint / Mgmt: −$594
• Net cashflow: $237

Break-even live

Break-even rent $2,528

Max offer price $289,000

Occupancy floor 87%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,828
Total (2 units)			$2,828

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: $72,250
• Closing costs: $8,670
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-19
   days on market $289,000 Active 35 DOM
2. 2026-06-18
   days on market $289,000 Active 34 DOM
3. 2026-06-17
   days on market $289,000 Active 33 DOM
4. 2026-06-16
   days on market $289,000 Active 32 DOM
5. 2026-06-15
   days on market $289,000 Active 31 DOM
6. 2026-06-14
   days on market $289,000 Active 29 DOM
7. 2026-06-12
   days on market $289,000 Active 28 DOM
8. 2026-06-09
   days on market $289,000 Active 25 DOM
9. 2026-06-08
   days on market $289,000 Active 24 DOM
10. 2026-06-07
    days on market $289,000 Active 23 DOM
11. 2026-06-07
    days on market $289,000 Active 22 DOM
12. 2026-06-02
    days on market $289,000 Active 18 DOM
13. 2026-06-01
    days on market $289,000 Active 17 DOM
14. 2026-05-31
    days on market $289,000 Active 16 DOM
15. 2026-05-31
    days on market $289,000 Active 15 DOM
16. 2026-05-15
    listed $289,000 Active 647-char remark
17. 2023-05-26
    soldstatus $230,000 Closed Sale or Rented 944-char remark

    Show marketing remark (944 chars)

    Hello Investors! Recently updated two unit multifamily available in Center City Oneonta. Major improvements throughout the house. Maximize your rents with this six bedroom, two bath property on Reynolds Ave. Each apartment occupies an entire floor, both units with three bedrooms and one bath. Great flow in each unit with plenty of space in the living and dining rooms. Both apartments have recently updated kitchens, baths and flooring. Current owner repaired the back foundation, and the house has new plumbing and electric throughout. Laundry unit conveniently located in common space between both apartments. Current use is as a student rental with strong rents for the '22-'23 school season. Downstairs: $4,200 per student per semesterUpstairs: $3,900 per student per semesterTOTAL RENT: $48,600Great rental location with great income results. Take advantage of all the new improvements in this house! Call today to schedule your showing!

18. 2023-03-22
    status Under Contract- Do Not Show 944-char remark

    Show marketing remark (944 chars)

    Hello Investors! Recently updated two unit multifamily available in Center City Oneonta. Major improvements throughout the house. Maximize your rents with this six bedroom, two bath property on Reynolds Ave. Each apartment occupies an entire floor, both units with three bedrooms and one bath. Great flow in each unit with plenty of space in the living and dining rooms. Both apartments have recently updated kitchens, baths and flooring. Current owner repaired the back foundation, and the house has new plumbing and electric throughout. Laundry unit conveniently located in common space between both apartments. Current use is as a student rental with strong rents for the '22-'23 school season. Downstairs: $4,200 per student per semesterUpstairs: $3,900 per student per semesterTOTAL RENT: $48,600Great rental location with great income results. Take advantage of all the new improvements in this house! Call today to schedule your showing!

19. 2023-01-23
    listed $250,000 Active 944-char remark

    Show marketing remark (944 chars)

    Hello Investors! Recently updated two unit multifamily available in Center City Oneonta. Major improvements throughout the house. Maximize your rents with this six bedroom, two bath property on Reynolds Ave. Each apartment occupies an entire floor, both units with three bedrooms and one bath. Great flow in each unit with plenty of space in the living and dining rooms. Both apartments have recently updated kitchens, baths and flooring. Current owner repaired the back foundation, and the house has new plumbing and electric throughout. Laundry unit conveniently located in common space between both apartments. Current use is as a student rental with strong rents for the '22-'23 school season. Downstairs: $4,200 per student per semesterUpstairs: $3,900 per student per semesterTOTAL RENT: $48,600Great rental location with great income results. Take advantage of all the new improvements in this house! Call today to schedule your showing!

20. 2018-08-23
    historical
21. 2018-05-11
    listed $109,900
22. 2017-11-10
    listed $118,900
23. 2009-07-20
    historical
24. 2009-06-12
    listed $129,000

ⓘ 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 3/10 Moderate 8 d/yr ≥93°F today · 19 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: $33,936
• − Mortgage interest: −$16,188
• − Property taxes: −$4,335
• − Insurance: −$1,445
• − Repairs & maintenance: −$2,715
• − Management: −$2,715
• − Depreciation: −$8,407
• Taxable loss: −$1,870
• Est. tax savings @ 24.0%: +$449
• After-tax cash flow: $3,292/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 · 1 photo

Fair 45/100 Moderate rehab

This two-unit multifamily property requires moderate renovations to improve its condition and value. Key areas for improvement include the kitchen and bathrooms, exterior painting, and landscaping.

Repairs flagged

• Major kitchen cabinets — Older cabinets and countertops need replacement.
• Major bathroom fixtures — Outdated fixtures and possibly outdated tiling need updating.
• Moderate exterior siding — Weathered siding needs repainting or replacement.
• Major flooring — Older carpet in some areas needs replacement.
• Moderate interior paint — Some discoloration and wear needs touch-up or repainting.
• Minor landscaping — Overgrown grass and debris need trimming and cleaning.
• Minor HVAC system — No visible issues, but may need maintenance or minor repairs.

Value-add opportunities

• Both kitchen renovation — Updating the kitchen will improve both resale and rental value.
• Both bathroom renovation — Updating the bathrooms will improve both resale and rental value.
• Both exterior painting — Painting the exterior will improve curb appeal and value.
• Both landscaping — A well-maintained yard will improve curb appeal and rental value.
• Rental HVAC system maintenance — Maintaining the HVAC system will ensure comfort and reduce utility costs, improving rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · Older cabinets and countertops need replacement.	Major	$15,000–50,000
bathroom fixtures · Outdated fixtures and possibly outdated tiling need updating.	Major	$15,000–50,000
exterior siding · Weathered siding needs repainting or replacement.	Moderate	$3,000–15,000
flooring · Older carpet in some areas needs replacement.	Major	$15,000–50,000
interior paint · Some discoloration and wear needs touch-up or repainting.	Moderate	$3,000–15,000
landscaping · Overgrown grass and debris need trimming and cleaning.	Minor	$500–3,000
HVAC system · No visible issues, but may need maintenance or minor repairs.	Minor	$500–3,000
Total estimated repair cost · 7 items		$52,000–186,000

Value-add ROI direction

• Both kitchen renovation — Updating the kitchen will improve both resale and rental value. ↑
• Both bathroom renovation — Updating the bathrooms will improve both resale and rental value. ↑
• Both exterior painting — Painting the exterior will improve curb appeal and value. ↑
• Both landscaping — A well-maintained yard will improve curb appeal and rental value. ↑
• Rental HVAC system maintenance — Maintaining the HVAC system will ensure comfort and reduce utility costs, improving 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: 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

+124.0% since first listed

9 events — show timeline

• 2026-05-15 Listed $289,000 UNYREIS
• 2023-05-26 Sold (MLS) $230,000 UNYREIS
• 2023-03-22 Pending — UNYREIS
• 2023-01-23 Listed $250,000 UNYREIS
• 2018-08-23 Listing Removed — UNYREIS
• 2018-05-11 Listed $109,900 UNYREIS
• 2017-11-10 Listed $118,900 UNYREIS
• 2009-07-20 Listing Removed — UNYREIS
• 2009-06-12 Listed $129,000 UNYREIS