6068 Shed Rd

Rome, NY 13440

$99,900B

3 bd · 1.0 ba · 1,328 sqft · Built 1953 · SingleFamily · Active · 125 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,580/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$345
• HOA: −$0
• Vac / Maint / Mgmt: −$332
• Net cashflow: $379/mo
• Annual: $4,552/yr
• Cap rate: 10.85%
• Cash-on-cash: 16.27%
• DSCR: 1.72
• 1% rule: 1.58%
• Cash to close: $27,972

Investor read

• This is a 3-bed/1.0-bath single-family listed at $100k.
• At list price, monthly cash flow is $379 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• It's been on market 125 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• 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-, amenities F, commute F.
• Westmoreland Central School District (rural): math 61% / reading 68% proficiency, ranked #173 of 590 in NY (top 29%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Deforest A Hill Primary School (169 students, 0% FRL); Westmoreland Upper Elementary School (math 60% / reading 68%, grade B, #658 of 2,108 statewide, top 31%, 237 students, 0% FRL); Donald H Crane Junior/Senior High School (math 62% / reading 67%, grade B-, #776 of 1,100 statewide, top 73%, 414 students, 0% FRL) — zoned schools average 0% FRL vs 24% district-wide (24 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: property tax is 3.6% of price; built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 278 active listings in the ZIP; 204 units permitted in Oneida County in 2024 (68 in 5+ unit buildings).
• Oneida County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~8 years — after that, you're playing with house money.
• Cap rate 10.8% 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.

Questions for listing agent

• It's been on market 125 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.