434 Main St · New York Mills, NY 13417

$229,900

6 bd · 3.0 ba · 2,999 sqft · MultiFamily public records · 35 Days on market

Built 1890 3,953 sqft lot Est $252k · 9% under

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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
• ARV discount +11.4/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Schools +5.2/10.0
• Livability +3.9/5.0
• Rent growth +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: 3 units. confirmed

Listing remarks

Investors!!! Discover this fully rented 3-unit apartment building, perfectly situated in a prime location convenient to dining and shopping. The property features three units: Apartment 1 offers 3 bedrooms (lower front), Apartment 2 includes 2 bedrooms (upper rear), and Apartment 3 is a cozy 1-bedroom (lower rear). All apartments are leased under one-year contracts, ensuring stable occupancy. Enjoy peace of mind with recent upgrades—2 new boilers, a hot water tank, new windows in some units, and new siding. This is an excellent investment opportunity with modern amenities and an unbeatable location!

Key facts

• Hot water tank
• Recent upgrades
• New boilers

Tags

• PRIME LOCATION
• RECENT UPGRADES
• NEW BOILERS
• HOT WATER TANK
• NEW WINDOWS
• NEW SIDING

Property features AI

Finance

• Financial info: Three-unit building with separate electric meters for each unit and a single gas meter; Current rents reported: $600 (1-bed), $770 (2-bed), $720 (3-bed); Owner pays hot water; rent includes hot water; Operating expense details: see remarks

Exterior

• Parking: Common parking with two or more spaces
• Utilities: Public water connected; Sewer connected
• Home design: Two-story multi-family building; Existing structure
• Construction: Vinyl siding; Asphalt roof; Attic/crawl hatchway(s) insulated; Built prior to current listing (existing)
• Exterior features: Rectangular residential lot (approx. 33 x 118); City street frontage

Interior

• Kitchen: Each unit has an eat-in kitchen with oven/range and refrigerator
• Bedrooms: One 1-bedroom unit; One 2-bedroom unit; One 3-bedroom unit
• Flooring: Carpet; Vinyl; Varies by area
• Bathrooms: Three full bathrooms (one per unit)
• Heating & cooling: Gas heating; Hot water heating with radiators
• Interior features: Full basement; Varied flooring including carpet and vinyl
• Laundry & utility: Water heater provided

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/?-bath units multifamily listed at $230k.

Deal economics

• At list price, monthly cash flow is $3k ($34k/yr) — positive. Per door: $947/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $230k).
• Recommended offer: $223k (3.0% below list) — sets the bar for market timing.
• Cap rate 21.1% vs local median 5.1% in New York Mills — 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 78/100 on livability (#175 in NY, #2,712 nationally) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, housing A; Watch: amenities F, commute F.
• New York Mills Union Free School District (suburban): math 60% / reading 65% proficiency, ranked #224 of 590 in NY (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 10 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 $25k of equity ($2k loan paydown + $23k 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 $64k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$40k 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 ($223k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $223,003 (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. Built in 1890 — 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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 2.46% ✓
• Cap rate: 21.12%
• Cash-on-cash: 52.95%
• DSCR: 3.36
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $251,916
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
551-553 Main St	0.32mi	6/2.0	3,146 (+5%)	13mo	$265,000	$84	62
52 Burrstone Rd	0.51mi	6/3.0	2,726 (-9%)	3mo	$220,000	$81	58
25 Greenman Ave	0.59mi	6/2.0	2,795 (-7%)	10mo	$270,000	$97	49
22 Burrstone Rd	0.47mi	6/2.0	2,593 (-14%)	20mo	$177,000	$68	35

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: 66.1%
• Equity multiple: 5.76×
• Total profit: $306,220
• Equity at exit: $207,112

10-year hold

• IRR: 59.7%
• Equity multiple: 12.80×
• Total profit: $759,721
• Equity at exit: $446,645

Cash invested: $64,372 (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 13417

• Home prices YoY: 11.9%
• Active inventory: 10
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $5,653 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$324 /mo · $3,889/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,187
• Net cashflow: $2,840

Break-even live

Break-even rent $2,058

Max offer price $229,900

Occupancy floor 45%

Sensitivity live

Price	-10% $2,970	-5% $2,905	+0% $2,840	+5% $2,775	+10% $2,710
Rent	-10% $2,394	-5% $2,617	+0% $2,840	+5% $3,064	+10% $3,287
Rate	-1.0pp $2,956	-0.5pp $2,899	base $2,840	+0.5pp $2,781	+1.0pp $2,720

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	—	$5,652
Total (3 units)			$5,653

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-19
   days on market $229,900 Active 35 DOM
2. 2026-06-18
   days on market $229,900 Active 34 DOM
3. 2026-06-17
   days on market $229,900 Active 33 DOM
4. 2026-06-16
   days on market $229,900 Active 32 DOM
5. 2026-06-15
   days on market $229,900 Active 31 DOM
6. 2026-06-14
   days on market $229,900 Active 29 DOM
7. 2026-06-13
   days on market $229,900 Active 28 DOM
8. 2026-06-10
   days on market $229,900 Active 26 DOM
9. 2026-06-09
   days on market $229,900 Active 25 DOM
10. 2026-06-08
    days on market $229,900 Active 24 DOM
11. 2026-06-07
    days on market $229,900 Active 23 DOM
12. 2026-06-02
    days on market $229,900 Active 18 DOM
13. 2026-06-01
    days on market $229,900 Active 17 DOM
14. 2026-05-31
    days on market $229,900 Active 16 DOM
15. 2026-05-30
    days on market $229,900 Active 15 DOM
16. 2026-05-15
    listed $229,900 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: $3,889 · $324/mo
• Projected year-2 tax: $3,889 · $324/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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $67,836
• − Mortgage interest: −$12,878
• − Property taxes: −$3,889
• − Insurance: −$1,150
• − Repairs & maintenance: −$5,427
• − Management: −$5,427
• − Depreciation: −$6,688
• Taxable income: $32,377
• Est. tax owed @ 24.0%: −$7,771
• After-tax cash flow: $26,313/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: New York Mills Union Free School District
• NCES district ID: 3620610
• Math proficiency: 60% ▲ 5.00%
• Reading proficiency: 65% ▲ 13.00%
• Median HH income: $40,329
• Composite: 52.21/100
• National rank: #1605
• State rank: #224 of 590 in NY

Livability — New York Mills

• Score: 78/100
• State rank: #175
• US rank: #2712

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New York Mills, NY
• City population: 3,012
• Population (ZIP): 3,012

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 (99%)
• Race & ethnicity: White 99% Asian 1%
• Common ancestry: Romanian 21% Lithuanian 4% Serbian 2%
• Foreign-born: 2%
• Languages at home: 94% English-only · Russian/Polish/Slavic 4% Vietnamese 1% 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: ▲ 31.74%
• Current HPI: 298.823
• 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 event — show timeline

• 2026-05-15 Listed $229,900 CNYIS

Property tax history

+0.4%/yr

Latest (2025): $3,889 · -8.9% YoY. Source: county tax records.