609 N Jay St · Rome, NY 13440

$129,900

4 bd · 2.0 ba · 1,718 sqft · SingleFamily public records · 14 Days on market

Built 1900 9,583 sqft lot Est $225k · 42% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Packed with potential, this charming single-family home offers a unique opportunity for homeowners, investors, or anyone looking to create value through renovation. Previously configured with two-family living, the unfinished upstairs space provides the possibility of converting the property back into a two-unit residence, opening the door to excellent rental income potential. The electrical was updated to a 200 amp service in 2017, so that can be checked off of your list! Outside, the home shines with inviting curb appeal, highlighted by a welcoming covered front porch and a low-maintenance exterior, allowing you to focus your efforts on transforming the interior. The oversized three-st

Key facts

• Covered front porch
• 200 amp service
• Abundant storage

Tags

• UNFINISHED UPSTAIRS SPACE
• 200 AMP SERVICE
• COVERED FRONT PORCH
• LOW MAINTENANCE EXTERIOR
• OVERSIZED THREE STALL GARAGE
• ABUNDANT STORAGE

Property features AI

Exterior

• Parking: Detached garage; 3-car garage
• Utilities: Public water (connected); Sewer connected; Cable available; Circuit breaker electric
• Home design: 2-story house; Existing construction
• Construction: Vinyl siding; Asphalt roof; Stone foundation
• Exterior features: Covered porch; Blacktop driveway; Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Electric oven; Electric range; Refrigerator
• Bedrooms: 2 main-level bedrooms
• Flooring: Carpet; Vinyl; Varies
• Bathrooms: 2 full bathrooms; 1 main-level bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Eat-in kitchen; Separate/formal living room; Solid surface counters; Partially furnished; Bedroom on main level; Full basement
• Laundry & utility: Washer; Dryer; Main-level laundry

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $604 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Cap rate 11.9% 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.

Location & tenants

• 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-, schools F, amenities F.
• Rome City School District (town): math 35% / reading 46% proficiency, ranked #516 of 590 in NY (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 272 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 204 units permitted in Oneida County in 2024 (68 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Oneida County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $129,900

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.51% ✓
• Cap rate: 11.87%
• Cash-on-cash: 19.91%
• DSCR: 1.89
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $225,058
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
617 N Jay St	0.04mi	3/2.0 (-1)	1,681 (-2%)	8mo	$180,000	$107	83
603 W Thomas St	0.25mi	5/2.0 (+1)	1,716 (-0%)	1mo	$225,000	$131	82
706 Croton St	0.13mi	5/2.0 (+1)	1,768 (+3%)	8mo	$200,000	$113	78
402 N Jay St	0.27mi	3/1.5 (-1)	1,737 (+1%)	3mo	$149,900	$86	76
204 Pleasant Ave	0.69mi	4/2.5	1,708 (-1%)	2mo	$256,500	$150	63
743 W Court St	0.59mi	3/2.5 (-1)	1,712 (-0%)	2mo	$80,000	$47	63
1011 North Madison	0.42mi	3/1.5 (-1)	1,608 (-6%)	1mo	$203,000	$126	62
611 Turin St	0.61mi	3/2.0 (-1)	1,668 (-3%)	3mo	$225,000	$135	59
901 W Thomas St	0.64mi	4/2.0	1,859 (+8%)	3mo	$240,000	$129	54
409 Walnut St	0.72mi	3/2.0 (-1)	1,852 (+8%)	8mo	$319,000	$172	42
404 Walnut St	0.75mi	4/2.0	1,528 (-11%)	7mo	$235,000	$154	40
1209 N James St	0.72mi	4/1.5	1,500 (-13%)	4mo	$305,000	$203	40

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

Projected returns pro-forma

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

5-year hold

• IRR: 12.1%
• Equity multiple: 1.48×
• Total profit: $17,450
• Equity at exit: $19,369

10-year hold

• IRR: 21.0%
• Equity multiple: 2.79×
• Total profit: $64,929
• Equity at exit: $11,231

Cash invested: $36,372 (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 13440

• Home prices YoY: -8.0%
• Active inventory: 272
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,957 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$207 /mo · $2,490/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $604

Break-even live

Break-even rent $1,193

Max offer price $129,900

Occupancy floor 64%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
149 River St Unit 2 Rome, NY	3.0	1.0	1160	$1,500	$1.29	44d	1	0.83mi
1611 Craig St Rome, NY	3.0	1.0	1250	$2,000	$1.60	44d	1	1.01mi
1027 Elwood St Rome, NY	3.0	2.0	1200	$1,500	$1.25	44d	1	1.07mi
251 Liam Ln Unit 251 Rome, NY	3.0	2.0	1577	$2,750	$1.74	44d	1	1.14mi

Listing history 12 events

1. 2026-06-18
   days on market $129,900 Active 14 DOM
2. 2026-06-17
   days on market $129,900 Active 13 DOM
3. 2026-06-16
   days on market $129,900 Active 12 DOM
4. 2026-06-16
   price $129,900 Active 11 DOM
5. 2026-06-15
   days on market $139,900 Active 11 DOM
6. 2026-06-13
   days on market $139,900 Active 9 DOM
7. 2026-06-12
   days on market $139,900 Active 8 DOM
8. 2026-06-09
   days on market $139,900 Active 5 DOM
9. 2026-06-08
   days on market $139,900 Active 4 DOM
10. 2026-06-07
    days on market $139,900 Active 3 DOM
11. 2026-06-07
    remarks 699-char remark
12. 2026-06-07
    listed $139,900 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: $2,490 · $207/mo
• Projected year-2 tax: $2,490 · $207/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 17 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: $23,490
• − Mortgage interest: −$7,276
• − Property taxes: −$2,490
• − Insurance: −$650
• − Repairs & maintenance: −$1,879
• − Management: −$1,879
• − Depreciation: −$3,779
• Taxable income: $5,537
• Est. tax owed @ 24.0%: −$1,329
• After-tax cash flow: $5,914/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: Rome City School District
• NCES district ID: 3624900
• Math proficiency: 35% ▼ -4.00%
• Reading proficiency: 46% ▲ 10.00%
• Median HH income: $46,406
• Composite: 34.52/100
• National rank: #5178
• State rank: #516 of 590 in NY

Livability — Rome

• Score: 64/100
• State rank: #722
• US rank: #13676

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rome, NY
• City population: 41,418
• Population (ZIP): 41,273

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 (82%)
• Race & ethnicity: White 82% Hispanic / Latino 7% Two or more races 6% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Romanian 9% Lithuanian 4% Slovak 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 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: ▼ -29.58%
• Current HPI: 339.3589
• 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

• 2026-06-04 Listed $139,900 CNYIS

Property tax history

-0.0%/yr

Latest (2025): $2,490 · +0.3% YoY. Source: county tax records.