39 Fair St · Oneonta, NY 13820

$329,900

16 bd · 16.0 ba · 2,658 sqft · MultiFamily public records · 31 Days on market

Built 1985 3,484 sqft lot

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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 +30.0/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.2/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Positioned on a desirable corner lot in the heart of Oneonta, this well-maintained 4-unit multi-family property presents a strong opportunity for investors or owner-occupants. The building offers 4- 1-bedroom, 1-bath units, ideal for this steady tenant demographic. Bordering Fox Hospital, this location offers convenient proximity for healthcare professionals and local students. Located just minutes from downtown, colleges, shopping, and dining, this property benefits from Oneonta's consistent rental demand driven by its mix of outdoor recreation, small-town charm and cultural attractions. This asset features recent updates and dedicated off-street parking. Mechanical updates include a newe

Key facts

• Corner lot
• 3,484 sq ft lot
• Garage

Tags

• CORNER LOT
• MULTI-FAMILY PROPERTY
• DEDICATED OFF-STREET PARKING
• RELIABLE RENTAL MARKET

Property features AI

Finance

• Financial info: Property configured as a 4-unit income property; Tenant responsibility: hot water and electricity; Owner responsibility: heat, gas, water, sewer, trash collection and internet

Exterior

• Parking: Off-street paved parking for 4 vehicles; Detached parking
• Utilities: Public water; Public sewer
• Home design: Quadruplex; Two-story units (unit locations noted per unit); Entry facing information not provided
• Construction: Vinyl siding; Block and stone foundation; Rubber and asphalt shingle roof; Built area reported (living area provided)
• Exterior features: Front porch; Lot dimensions approximately 68 x 99

Interior

• Kitchen: Each unit includes a kitchen
• Bedrooms: Four separate units — each unit includes one bedroom (units 2, 3 and 4 specify bedroom locations: units 3 and 4 have bedrooms on the 2nd floor; unit 2 bedroom on the 1st floor; unit 1 bedroom implied on 1st floor)
• Flooring: Carpet; Laminate
• Bathrooms: Four full bathrooms total (two full baths on 1st floor, two full baths on 2nd floor) — each unit has one full bath
• Heating & cooling: Hot water heating; Natural gas
• Interior features: High-speed internet available; Full basement
• Laundry & utility: Tenant pays hot water and electricity; owner pays heat, gas, water, sewer, trash collection and internet

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1-bath units multifamily listed at $330k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $297/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $330k).
• Recommended offer: $320k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 5.5% in Oneonta — 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 75/100 on livability (#253 in NY, #4,021 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living B+; Watch: amenities C-, crime F, commute F.
• Oneonta City School District (town): math 46% / reading 57% proficiency, ranked #374 of 590 in NY (top 63%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 118 active listings in the ZIP; 133 units permitted in Otsego County in 2024 (10 in 5+ unit buildings).
• At $4,342/mo this rent would consume 79% of the median local household income ($66k/yr) (locally 662% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $35k of equity ($2k loan paydown + $33k appreciation (10.0% local appreciation)).
• Otsego County population projected at -21% 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 $92k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$57k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($320k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $61k; list at $330k implies a 442% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $320,003 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.32% ✓
• Cap rate: 10.82%
• Cash-on-cash: 16.16%
• DSCR: 1.72
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 35.7%
• Equity multiple: 3.76×
• Total profit: $255,404
• Equity at exit: $297,200

10-year hold

• IRR: 30.7%
• Equity multiple: 8.50×
• Total profit: $692,684
• Equity at exit: $640,923

Cash invested: $92,372 (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 13820

• Home prices YoY: 22.7%
• Active inventory: 118
• Price-to-rent: 25.3×

Monthly cashflow live

• Estimated rent: $4,342 medium
• Mortgage (P&I): −$1,730
• Tax from tax record: −$319 /mo · $3,825/yr
• Insurance: −$137
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$912
• Net cashflow: $1,188

Break-even live

Break-even rent $2,838

Max offer price $329,900

Occupancy floor 68%

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$4,340
Total (4 units)			$4,342

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: $82,475
• Closing costs: $9,897
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $329,900 Active 31 DOM
2. 2026-06-18
   days on market $329,900 Active 30 DOM
3. 2026-06-17
   days on market $329,900 Active 29 DOM
4. 2026-06-16
   days on market $329,900 Active 28 DOM
5. 2026-06-15
   days on market $329,900 Active 27 DOM
6. 2026-06-14
   days on market $329,900 Active 25 DOM
7. 2026-06-12
   days on market $329,900 Active 24 DOM
8. 2026-06-09
   pricedays on market $329,900 Active 21 DOM
9. 2026-06-08
   days on market $339,900 Active 20 DOM
10. 2026-06-07
    days on market $339,900 Active 19 DOM
11. 2026-06-07
    days on market $339,900 Active 18 DOM
12. 2026-06-02
    days on market $339,900 Active 14 DOM
13. 2026-06-01
    days on market $339,900 Active 13 DOM
14. 2026-05-31
    days on market $339,900 Active 12 DOM
15. 2026-05-31
    days on market $339,900 Active 11 DOM
16. 2026-05-19
    listed $339,900 Active
17. 1997-07-11
    soldstatus $60,900

ⓘ 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: $3,825 · $319/mo
• Projected year-2 tax: $4,700 · $392/mo
• Expected delta: +$875/yr (+$73/mo · 22.9%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 8 d/yr ≥92°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $52,104
• − Mortgage interest: −$18,480
• − Property taxes: −$3,825
• − Insurance: −$2,316
• − Repairs & maintenance: −$4,168
• − Management: −$4,168
• − Depreciation: −$9,597
• Taxable income: $9,550
• Est. tax owed @ 24.0%: −$2,292
• After-tax cash flow: $11,969/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: Oneonta City School District
• NCES district ID: 3621780
• Math proficiency: 46% ▼ -2.00%
• Reading proficiency: 57% ▲ 14.00%
• Median HH income: $41,631
• Composite: 43.19/100
• National rank: #3066
• State rank: #374 of 590 in NY

Livability — Oneonta

• Score: 75/100
• State rank: #253
• US rank: #4021

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oneonta, NY
• County: Otsego County · 23,056 people
• City population: 23,056
• Metro: Oneonta, NY
• Population (ZIP): 23,056
• Household income: $65,953
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 662.0

Population outlook (Otsego County) Hauer SSP2

• Today (2025): 57,987 people
• By 2030: 55,403 · -4.5%
• By 2040: 50,336 · -13.2%
• By 2050: 45,715 · -21.2%
• By 2075: 38,769 · -33.1%
• By 2100: 33,468 · -42.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 6% Black 5% Two or more races 5% Asian 2%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Romanian 4% Slovak 2% Lithuanian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 94% English-only · Spanish 3% Russian/Polish/Slavic 1% Other Indo-European 1%

Political lean MEDSL · Otsego

• 2024 margin: Lean R (+7.9) · D 46.1% · R 53.9%
• 2008→2024 swing: -13.8pp toward R · 2008: 5.9pp · 2024: -7.9pp
• All cycles: 2024: R+7.9 2020: R+5.0 2016: R+13.0 2012: D+2.0 2008: D+5.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 67.86%
• Current HPI: 366.3391
• Rent YoY: —
• Metro: Oneonta, NY
• 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

+458.1% since first listed

2 events — show timeline

• 2026-05-19 Listed $339,900 Global MLS
• 1997-07-11 Sold (Public Records) $60,900 Public Records

Property tax history

+0.3%/yr

Latest (2025): $3,825 · +5.8% YoY. Source: county tax records.