1222 State Route 49 · North Bay, NY 13042

$49,900

2 bd · 2.0 ba · 1,248 sqft · MultiFamily public records · 23 Days on market

Built 1980 0.79 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.0/10.0
• ARV discount +7.5/15.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

PRICE TO SELL!! This Colonial is located just a hop skip and a jump from Oneida Lake!!! also, comes with a HUGE 1 ACRE Corner Lot. .. Currently laid out as a 2 Family Home, it could EASILY be updated to a 3 bedroom, 2 bath Home. .. Circular Driveway. .. One Stall Garage. .. Back Deck overlooking LARGE backyard. .. Public Water. .. COME TAKE A LOOK FOR YOURSELF!!!

Key facts

• 0.79 acre lot
• 0.79 acre lot
• Garage

Tags

• SHORT WALK FROM THE LAKE
• POTENTIAL TWO UNIT SETUP
• 0.79 ACRE LOT
• MINUTES FROM SYLVAN BEACH
• MINUTES FROM ONEIDA LAKE
• SHORT TERM RENTAL CONVERSION

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $50k.

Deal economics

• At list price, monthly cash flow is $650 ($8k/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: $49k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Camden Central School District (rural): math 34% / reading 48% proficiency, ranked #504 of 590 in NY (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 32 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 $3k of equity ($345 loan paydown + $3k appreciation (6.1% 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 (6.1% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y 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.

Recommended offer $49,151 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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

6.08% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 64.2%
• Equity multiple: 5.01×
• Total profit: $56,047
• Equity at exit: $31,605

10-year hold

• IRR: 61.1%
• Equity multiple: 10.48×
• Total profit: $132,422
• Equity at exit: $57,520

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 13042

• Home prices YoY: 2.1%
• Active inventory: 32
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,259 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $748/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $650

Break-even live

Break-even rent $437

Max offer price $49,900

Occupancy floor 43%

Sensitivity live

Price	-10% $684	-5% $667	+0% $650	+5% $633	+10% $616
Rent	-10% $551	-5% $600	+0% $650	+5% $700	+10% $749
Rate	-1.0pp $675	-0.5pp $663	base $650	+0.5pp $637	+1.0pp $624

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 6 events

1. 2026-03-30
   status Pending
2. 2026-03-07
   listed $49,900 Active
3. 2019-03-08
   soldstatus $47,000 365-char remark

   Show marketing remark (365 chars)

   PRICE TO SELL!! This Colonial is located just a hop skip and a jump from Oneida Lake!!! also, comes with a HUGE 1 ACRE Corner Lot. .. Currently laid out as a 2 Family Home, it could EASILY be updated to a 3 bedroom, 2 bath Home. .. Circular Driveway. .. One Stall Garage. .. Back Deck overlooking LARGE backyard. .. Public Water. .. COME TAKE A LOOK FOR YOURSELF!!!

4. 2019-02-06
   historical
5. 2018-11-07
   listed $49,000 365-char remark

   Show marketing remark (365 chars)

   PRICE TO SELL!! This Colonial is located just a hop skip and a jump from Oneida Lake!!! also, comes with a HUGE 1 ACRE Corner Lot. .. Currently laid out as a 2 Family Home, it could EASILY be updated to a 3 bedroom, 2 bath Home. .. Circular Driveway. .. One Stall Garage. .. Back Deck overlooking LARGE backyard. .. Public Water. .. COME TAKE A LOOK FOR YOURSELF!!!

6. 2018-11-07
   listed $49,000

   Show marketing remark (365 chars)

   PRICE TO SELL!! This Colonial is located just a hop skip and a jump from Oneida Lake!!! also, comes with a HUGE 1 ACRE Corner Lot. .. Currently laid out as a 2 Family Home, it could EASILY be updated to a 3 bedroom, 2 bath Home. .. Circular Driveway. .. One Stall Garage. .. Back Deck overlooking LARGE backyard. .. Public Water. .. COME TAKE A LOOK FOR YOURSELF!!!

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,112
• − Mortgage interest: −$2,795
• − Property taxes: −$748
• − Insurance: −$250
• − Repairs & maintenance: −$1,209
• − Management: −$1,209
• − Depreciation: −$1,452
• Taxable income: $7,449
• Est. tax owed @ 24.0%: −$1,788
• After-tax cash flow: $6,012/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: Camden Central School District
• NCES district ID: 3606240
• Math proficiency: 34% ▼ -14.00%
• Reading proficiency: 48% ▲ 1.00%
• Median HH income: $48,686
• Composite: 35.15/100
• National rank: #5008
• State rank: #504 of 590 in NY

Livability — North Bay

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• City population: 35
• Population (ZIP): 1,884

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 (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Common ancestry: Romanian 5% Lithuanian 4% Italian 2%
• Foreign-born: 0%
• Languages at home: 97% English-only · Spanish 1% German/W. Germanic 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: ▲ 6.08%
• Current HPI: 294.9153
• 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

+1.8% since first listed

6 events — show timeline

• 2026-03-30 Pending — CNYIS
• 2026-03-07 Listed $49,900 CNYIS
• 2019-03-08 Sold (MLS) $47,000 CNYIS
• 2019-02-06 Listing Removed — CNYIS
• 2018-11-07 Listed $49,000 CNYIS
• 2018-11-07 Listed $49,000 CNYIS

Property tax history

-0.8%/yr

Latest (2025): $2,700 · +0.7% YoY. Source: county tax records.