113 W 4th St N · Fulton, NY 13069

$108,500

4 bd · 2.0 ba · 1,847 sqft · MultiFamily public records · 8 Days on market

Built 1930 Est $142k · 24% 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.4/10.0
• Livability +3.1/5.0
• Schools +3.0/10.0
• 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

Investment opportunity awaits! This 2-family home sits on a desirable corner lot and offers solid potential for investors or owner-occupants. Features include low-maintenance vinyl siding, a durable metal roof, and a welcoming front porch perfect for relaxing. Both units are currently occupied by long-term tenants who are on month-to-month leases, providing immediate rental income with future flexibility. Each unit features 2 spacious bedrooms, with living room and full bathroom, and has separate utilities, including gas, electric, and water, making management simple and efficient. Conveniently located and full of potential, this property is ready for its next owner to bring their vision an

Key facts

• Separate utilities
• Metal roof
• Front porch

Tags

• CORNER LOT
• VINYL SIDING
• METAL ROOF
• FRONT PORCH
• SEPARATE UTILITIES

Property features AI

Finance

• Financial info: Two total units, each on month-to-month tenancy; Unit rents: $625 and $750; Tenants pay all utilities; Operating expenses include insurance (see remarks)

Exterior

• Parking: Paved parking with two or more spaces
• Utilities: Cable available; Public water connected; Sewer connected
• Home design: Two-story residential two-unit building; Existing condition
• Construction: Vinyl siding; Metal roof; Block foundation; Built (existing)
• Exterior features: Corner, rectangular lot

Interior

• Kitchen: Oven/Range; Refrigerator
• Bedrooms: Two bedrooms in each unit
• Flooring: Carpet; Laminate; Varies
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Ceiling fan(s)
• Laundry & utility: Gas water heater

🏷️ Possibly a rental listed for sale. The $108,500 price doesn't fit this home's estimated sale value (~$142,219) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $108k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $552/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $108k).
• Cap rate 18.5% vs local median 6.9% in Fulton — 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 61/100 on livability (#907 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, schools D-, crime F.
• Fulton City School District (town): math 29% / reading 43% proficiency, ranked #554 of 590 in NY (top 94%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 115 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 172 units permitted in Oswego County in 2024 (27 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($750 loan paydown + $7k appreciation (6.8% local appreciation)).
• Oswego County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.8% appreciation + 3.0% rent growth), your $30k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $108,500

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 2.37% ✓
• Cap rate: 18.50%
• Cash-on-cash: 43.59%
• DSCR: 2.94
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $142,219
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
115 W 1st St S	0.57mi	5/2.0 (+1)	1,958 (+6%)	23mo	$150,000	$77	39
208 Utica St	0.64mi	4/3.0	1,594 (-14%)	22mo	$85,000	$53	25

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

6.75% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 54.0%
• Equity multiple: 4.51×
• Total profit: $106,631
• Equity at exit: $73,393

10-year hold

• IRR: 50.2%
• Equity multiple: 9.49×
• Total profit: $257,846
• Equity at exit: $137,817

Cash invested: $30,380 (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 13069

• Home prices YoY: 2.3%
• Active inventory: 115
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,568 high
• Mortgage (P&I): −$569
• Tax from tax record: −$311 /mo · $3,732/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$539
• Net cashflow: $1,104

Break-even live

Break-even rent $1,171

Max offer price $108,500

Occupancy floor 52%

Sensitivity live

Price	-10% $1,165	-5% $1,134	+0% $1,104	+5% $1,073	+10% $1,042
Rent	-10% $901	-5% $1,002	+0% $1,104	+5% $1,205	+10% $1,306
Rate	-1.0pp $1,158	-0.5pp $1,131	base $1,104	+0.5pp $1,075	+1.0pp $1,047

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,568
Total (2 units)			$2,568

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: $27,125
• Closing costs: $3,255
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
262 W 4th St S Unit 1 Fulton, NY	3.0	1.0	1316	$1,500	$1.14	44d	1	0.82mi
303 S 5th St Fulton, NY	4.0	1.5	1800	$1,850	$1.03	14d	1	1.06mi

Listing history 7 events

1. 2026-06-18
   days on market $108,500 Active 8 DOM
2. 2026-06-17
   days on market $108,500 Active 7 DOM
3. 2026-06-16
   days on market $108,500 Active 6 DOM
4. 2026-06-15
   days on market $108,500 Active 5 DOM
5. 2026-06-14
   days on market $108,500 Active 3 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $108,500 Active 2 DOM

ⓘ 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: $3,732 · $311/mo
• Projected year-2 tax: $3,732 · $311/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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥95°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: $30,816
• − Mortgage interest: −$6,078
• − Property taxes: −$3,732
• − Insurance: −$542
• − Repairs & maintenance: −$2,465
• − Management: −$2,465
• − Depreciation: −$3,156
• Taxable income: $12,377
• Est. tax owed @ 24.0%: −$2,970
• After-tax cash flow: $10,272/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: Fulton City School District
• NCES district ID: 3611700
• Math proficiency: 29% ▼ -11.00%
• Reading proficiency: 43% ▲ 5.00%
• Median HH income: $43,337
• Composite: 30.49/100
• National rank: #6220
• State rank: #554 of 590 in NY

Livability — Fulton

• Score: 61/100
• State rank: #907
• US rank: #17723

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fulton, NY
• Population (ZIP): 23,176

Population outlook (Oswego County) Hauer SSP2

• Today (2025): 114,465 people
• By 2030: 109,968 · -3.9%
• By 2040: 99,205 · -13.3%
• By 2050: 87,979 · -23.1%
• By 2075: 65,100 · -43.1%
• By 2100: 47,117 · -58.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Lithuanian 6% Romanian 6% Iranian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Oswego

• 2024 margin: Strong R (+24.2) · D 37.9% · R 62.1%
• 2008→2024 swing: -26.6pp toward R · 2008: 2.5pp · 2024: -24.2pp
• All cycles: 2024: R+24.2 2020: R+20.2 2016: R+23.2 2012: D+7.9 2008: D+2.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.75%
• Current HPI: 304.443
• 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

• 2026-06-10 Listed $108,500 CNYIS

Property tax history

+0.9%/yr

Latest (2025): $3,732 · +7.5% YoY. Source: county tax records.