521 Floyd · Rome, NY 13440

$199,000

5 bd · 2.0 ba · 2,205 sqft · MultiFamily public records · 151 Days on market

Built 1900 ↓ 5% 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
• Schools +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Fully Remodeled Two-Family Home - Perfect Investment or Owner Occupant Opportunity. Two spacious apartments, 3 bedrooms in each unit. Completely remodeled throughout. brand-new kitchens with modern cabinetry and updated appliances. New bathrooms featuring stylist fixtures and finished. New high -efficiency furnaces. New flooring, paint, and lighting throughout. Live in one unit and rent the other to help cover your mortgage. A perfect setup for first-time buyers, investors, or multi-generational living. Convenient location close to shopping, schools, and transportation

Key facts

• Updated appliances
• Fully remodeled
• New bathrooms

Tags

• FULLY REMODELED
• SPACIOUS APARTMENTS
• BRAND-NEW KITCHENS
• UPDATED APPLIANCES
• NEW BATHROOMS
• HIGH-EFFICIENCY FURNACES

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $199k.

Deal economics

• At list price, monthly cash flow is $944 ($11k/yr) — positive. Per door: $472/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $199k).
• Recommended offer: $175k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.0% vs local median 5.6% 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.

Location & tenants

• 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-, schools F, amenities F.
• Rome City School District (town): math 35% / reading 46% proficiency, ranked #516 of 590 in NY (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 272 active listings in the ZIP; 204 units permitted in Oneida County in 2024 (68 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Oneida County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 151 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $175,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 151 days. Have you received any prior offers? Is the seller open to a 12% 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. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.43% ✓
• Cap rate: 11.98%
• Cash-on-cash: 20.32%
• DSCR: 1.90
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $77,175
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
223 E Bloomfield St	0.03mi	5/2.0	2,265 (+3%)	18mo	$142,994	$63	79
114 1st St	0.46mi	5/2.0	2,138 (-3%)	1mo	$60,000	$28	72
504 Floyd Ave	0.07mi	5/2.0	2,366 (+7%)	18mo	$169,950	$72	70
147 River St	0.27mi	6/2.0 (+1)	2,259 (+2%)	10mo	$25,000	$11	70
149 River St	0.26mi	6/2.0 (+1)	2,308 (+5%)	8mo	$129,000	$56	68
106 E Embargo St	0.29mi	4/2.0 (-1)	2,102 (-5%)	6mo	$74,000	$35	68
126 3rd St	0.46mi	6/3.0 (+1)	2,196 (-0%)	6mo	$180,000	$82	64
413 W Thomas St	0.70mi	5/2.0	2,220 (+1%)	8mo	$48,000	$22	59
121 E Bloomfield St	0.16mi	6/2.0 (+1)	2,510 (+14%)	11mo	$75,000	$30	56
408 N Madison St	0.64mi	4/2.0 (-1)	2,412 (+9%)	2mo	$70,000	$29	48
923 E Dominick St	0.74mi	5/2.0	2,303 (+4%)	14mo	$51,000	$22	46
418 W Bloomfield St	0.73mi	5/2.0	2,378 (+8%)	18mo	$144,000	$61	38

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

Projected returns pro-forma

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

5-year hold

• IRR: 12.6%
• Equity multiple: 1.50×
• Total profit: $27,852
• Equity at exit: $29,672

10-year hold

• IRR: 21.5%
• Equity multiple: 2.82×
• Total profit: $101,627
• Equity at exit: $17,206

Cash invested: $55,720 (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 13440

• Home prices YoY: -8.0%
• Active inventory: 272
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $2,838 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$172 /mo · $2,062/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$596
• Net cashflow: $944

Break-even live

Break-even rent $1,643

Max offer price $199,000

Occupancy floor 62%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,838
Total (2 units)			$2,838

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-27
   status Pending
2. 2026-01-13
   price $199,000
3. 2025-11-27
   listed $210,000 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: $2,062 · $172/mo
• Projected year-2 tax: $2,713 · $226/mo
• Expected delta: +$650/yr (+$54/mo · 31.5%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,056
• − Mortgage interest: −$11,147
• − Property taxes: −$2,062
• − Insurance: −$995
• − Repairs & maintenance: −$2,724
• − Management: −$2,724
• − Depreciation: −$5,789
• Taxable income: $8,614
• Est. tax owed @ 24.0%: −$2,067
• After-tax cash flow: $9,257/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: Rome City School District
• NCES district ID: 3624900
• Math proficiency: 35% ▼ -4.00%
• Reading proficiency: 46% ▲ 10.00%
• Median HH income: $46,406
• Composite: 34.52/100
• National rank: #5178
• State rank: #516 of 590 in NY

Livability — Rome

• Score: 64/100
• State rank: #722
• US rank: #13676

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rome, NY
• City population: 41,418
• Population (ZIP): 41,273

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 (82%)
• Race & ethnicity: White 82% Hispanic / Latino 7% Two or more races 6% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Romanian 9% Lithuanian 4% Slovak 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 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: ▼ -29.58%
• Current HPI: 339.3589
• 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

-5.2% since first listed

3 events — show timeline

• 2026-04-27 Pending — CNYIS
• 2026-01-13 Price Changed $199,000 CNYIS
• 2025-11-27 Listed $210,000 CNYIS

Property tax history

+1.7%/yr

Latest (2025): $2,062 · +0.3% YoY. Source: county tax records.