9626 Main St · Remsen, NY 13438

$220,000

5 bd · 2.0 ba · 2,572 sqft · MultiFamily public records · 74 Days on market

Built 1889 4,770 sqft lot $86/sqft · 427% above area

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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 +25.0/30.0
• Appreciation +10.0/10.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• Schools +4.5/10.0
• Livability +3.0/5.0
• 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: 2 units. confirmed

Listing remarks MLS

Step into timeless charm with modern comfort in this beautifully renovated 1889 two-story home, thoughtfully converted into two spacious apartments. Perfect for investors or owner-occupants, this property blends historic character with contemporary upgrades. Each apartment features 3 generously sized bedrooms and 2 full bathrooms, offering ample space for comfortable living. Inside, you’ll find stunning 10-foot ceilings that enhance the open, airy feel, along with brand-new kitchens complete with modern finishes and fixtures. New flooring throughout adds a fresh, cohesive look while maintaining the home’s classic appeal. Extensively renovated from top to bottom, this property provides peace of mind with updated systems and stylish interiors, making it truly move-in ready. Whether you're looking to generate rental income or live in one unit while renting the other, this versatile home offers exceptional opportunity. Don’t miss your chance to own a piece of history—reimagined for today’s lifestyle.

Key facts

• New flooring
• Modern finishes
• Spacious apartments

Tags

• BEAUTIFULLY RENOVATED
• SPACIOUS APARTMENTS
• STUNNING 10-FOOT CEILINGS
• BRAND-NEW KITCHENS
• MODERN FINISHES
• NEW FLOORING

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2-bath units multifamily listed at $220k.

Deal economics

• At list price, monthly cash flow is $480 ($6k/yr) — positive. Per door: $240/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $220k).
• Recommended offer: $207k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#957 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime F, amenities F.
• Remsen Central School District (rural): math 50% / reading 50% proficiency, ranked #459 of 755 in NY (top 61%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 36 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 $24k of equity ($2k loan paydown + $22k 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 $62k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $29k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $220k implies a 340% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1889 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $206,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% 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 1889 — 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. 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: 1.05% ✓
• Cap rate: 8.91%
• Cash-on-cash: 9.34%
• DSCR: 1.42
• GRM: 8.0

CMA / ARV

• ARV (median comp): $41,742
• List price: $220,000
• Delta: 427.05%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 31.1%
• Equity multiple: 3.44×
• Total profit: $150,291
• Equity at exit: $198,193

10-year hold

• IRR: 26.9%
• Equity multiple: 7.79×
• Total profit: $418,406
• Equity at exit: $427,412

Cash invested: $61,600 (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 13438

• Home prices YoY: 10.1%
• Active inventory: 36
• Price-to-rent: 15.9×

Monthly cashflow live

• Estimated rent: $2,302 medium
• Mortgage (P&I): −$1,154
• Tax from tax record: −$94 /mo · $1,123/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$483
• Net cashflow: $480

Break-even live

Break-even rent $1,695

Max offer price $220,000

Occupancy floor 74%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,302
Total (2 units)			$2,302

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-18
   days on market $220,000 Active 74 DOM
2. 2026-06-17
   days on market $220,000 Active 73 DOM
3. 2026-06-16
   days on market $220,000 Active 72 DOM
4. 2026-06-15
   days on market $220,000 Active 71 DOM
5. 2026-06-13
   days on market $220,000 Active 69 DOM
6. 2026-06-12
   pricedays on market $220,000 Active 68 DOM
7. 2026-06-09
   days on market $249,000 Active 65 DOM
8. 2026-06-08
   days on market $249,000 Active 64 DOM
9. 2026-06-07
   days on market $249,000 Active 63 DOM
10. 2026-06-07
    days on market $249,000 Active 62 DOM
11. 2026-06-04
    days on market $249,000 Active 59 DOM
12. 2026-06-02
    days on market $249,000 Active 58 DOM
13. 2026-06-01
    days on market $249,000 Active 57 DOM
14. 2026-05-31
    days on market $249,000 Active 56 DOM
15. 2026-04-05
    listed $249,000 Active 1041-char remark

    Show marketing remark (1041 chars)

    Step into timeless charm with modern comfort in this beautifully renovated 1889 two-story home, thoughtfully converted into two spacious apartments. Perfect for investors or owner-occupants, this property blends historic character with contemporary upgrades. Each apartment features 3 generously sized bedrooms and 2 full bathrooms, offering ample space for comfortable living. Inside, you’ll find stunning 10-foot ceilings that enhance the open, airy feel, along with brand-new kitchens complete with modern finishes and fixtures. New flooring throughout adds a fresh, cohesive look while maintaining the home’s classic appeal. Extensively renovated from top to bottom, this property provides peace of mind with updated systems and stylish interiors, making it truly move-in ready. Whether you're looking to generate rental income or live in one unit while renting the other, this versatile home offers exceptional opportunity. Don’t miss your chance to own a piece of history—reimagined for today’s lifestyle.

16. 2026-03-24
    historical
17. 2025-11-13
    price $295,000
18. 2025-09-24
    listed $310,000 Active
19. 2025-05-15
    soldstatus $50,000
20. 2024-04-17
    status Active
21. 2024-01-12
    status Pending
22. 2023-11-20
    status Under Contract- Do Not Show
23. 2023-11-08
    historical Continue to Show- Under Contract
24. 2023-10-16
    price $85,000
25. 2023-07-31
    price $89,500
26. 2023-07-03
    listed $92,500 Active
27. 2004-05-04
    soldstatus $37,500
28. 1993-11-10
    soldstatus $25,000

ⓘ 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: $1,123 · $94/mo
• Projected year-2 tax: $2,420 · $202/mo
• Expected delta: +$1,298/yr (+$108/mo · 115.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 65% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥90°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,624
• − Mortgage interest: −$12,323
• − Property taxes: −$1,123
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,210
• − Management: −$2,210
• − Depreciation: −$6,400
• Taxable income: $2,258
• Est. tax owed @ 24.0%: −$542
• After-tax cash flow: $5,214/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: Remsen Central School District
• NCES district ID: 3624360
• Math proficiency: 50% ▼ -5.00%
• Reading proficiency: 50% ▼ -5.00%
• Median HH income: $50,167
• Composite: 44.82/100
• National rank: #5936
• State rank: #459 of 755 in NY

Livability — Remsen

• Score: 60/100
• State rank: #957
• US rank: #18762

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Remsen, NY
• Population (ZIP): 3,310

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% Hispanic / Latino 2% Two or more races 2%
• Common ancestry: Romanian 12% Lithuanian 5% Slovak 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 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: ▲ 33.60%
• Current HPI: 368.1042
• 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

+896.0% since first listed

14 events — show timeline

• 2026-04-05 Listed $249,000 CNYIS
• 2026-03-24 Listing Removed — CNYIS
• 2025-11-13 Price Changed $295,000 CNYIS
• 2025-09-24 Listed $310,000 CNYIS
• 2025-05-15 Sold (Public Records) $50,000 Public Records
• 2024-04-17 Relisted — CNYIS
• 2024-01-12 Pending — CNYIS
• 2023-11-20 Pending — CNYIS
• 2023-11-08 Contingent — CNYIS
• 2023-10-16 Price Changed $85,000 CNYIS
• 2023-07-31 Price Changed $89,500 CNYIS
• 2023-07-03 Listed $92,500 CNYIS
• 2004-05-04 Sold (Public Records) $37,500 Public Records
• 1993-11-10 Sold (Public Records) $25,000 Public Records

Property tax history

-0.9%/yr

Latest (2025): $1,123 · -10.9% YoY. Source: county tax records.