6068 Shed Rd

Rome, NY 13440

$85,000B

3 bd · 1.0 ba · 1,328 sqft · Built 1953 · SingleFamily · Active · 44 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,519/mo
• Mortgage (P&I): −$446
• Tax + insurance: −$339
• HOA: −$0
• Vac / Maint / Mgmt: −$319
• Net cashflow: $415/mo
• Annual: $4,983/yr
• Cap rate: 12.16%
• Cash-on-cash: 20.94%
• DSCR: 1.93
• 1% rule: 1.79%
• Cash to close: $23,800

Investor read

• This is a 3-bed/1.0-bath single-family listed at $85k. Condition is rated fair.
• At list price, monthly cash flow is $415 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• It's been on market 44 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $588 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 4.3% of price; built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 384 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.
• 3 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 $24k cash investment doubles in ~6 years — after that, you're playing with house money.
• Cap rate 12.2% vs local median 5.7% 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 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — The satellite image suggests potential roof damage.
• Major: exterior siding — The siding is peeling and the paint is faded.
• Major: flooring — The flooring is worn and likely needs replacement.
• Major: interior walls — The walls have peeling paint, indicating a need for repainting.
• Major: HVAC/mechanicals — The overall condition suggests they may need maintenance or replacement.
• Major: landscaping — The landscaping is overgrown and needs trimming and maintenance.