8 Majestic Ln · New York Mills, NY 13413

$172,000

3 bd · 2.0 ba · 1,275 sqft · Manufactured · 60 Days on market

Built 2008 $135/sqft · 242% above area

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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
• 1% rule +8.6/10.0
• ARV discount +7.5/15.0
• Schools +6.1/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 2008 Doublewide Home, built with 1250 sq ft of Living Space, which includes Two Full Baths, Three Bedrooms, a large Living Room, a Formal Dining Room, an added Sunroom, and a Laundry area, is located in the Park View Estates and offering New Hartford Schools, with features such as an added Sunroom, an exterior Retractable Awning, Municipal Water & Sewer, Metal Roofing, and all necessary appliances: Electric Stove, Refrigerator & Dishwasher. A Lot Fee of $610 includes Taxes, Water, & Garbage

Key facts

• Metal roofing
• Municipal water
• Added sunroom

Tags

• ADDED SUNROOM
• EXTERIOR RETRACTABLE AWNING
• OUTDOOR SHED
• MUNICIPAL WATER
• METAL ROOFING
• NECESSARY APPLIANCES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $172k.

Deal economics

• At list price, monthly cash flow is $676 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $172k).
• Recommended offer: $167k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.0% vs local median 5.1% in New York Mills — 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 78/100 on livability (#175 in NY, #2,712 nationally) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, housing A; Watch: amenities F, commute F.
• New Hartford Central School District (suburban): math 65% / reading 76% proficiency, ranked #128 of 590 in NY (top 22%) — strong family-tenant draw, lease renewals of 3-5y typical; only 9% free/reduced lunch — higher-income household profile.
• Market conditions: 100 active listings in the ZIP; 3 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; solid renter incomes; 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 $1k of loan paydown is wiped out by about $5k 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 $48k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($167k) is reasonable based on typical stale-listing flexibility.

Recommended offer $166,840 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.36% ✓
• Cap rate: 11.01%
• Cash-on-cash: 16.84%
• DSCR: 1.75
• GRM: 6.1

CMA / ARV

• ARV (median comp): $50,239
• List price: $172,000
• Delta: 242.36%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1 Village Vw	0.20mi	3/2.0	1,450 (+14%)	5mo	$120,000	$83	64

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: 8.1%
• Equity multiple: 1.32×
• Total profit: $15,197
• Equity at exit: $25,646

10-year hold

• IRR: 17.3%
• Equity multiple: 2.43×
• Total profit: $68,768
• Equity at exit: $14,871

Cash invested: $48,160 (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 13413

• Active inventory: 100
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,344 medium
• Mortgage (P&I): −$902
• Tax from tax record: −$202 /mo · $2,424/yr
• Insurance: −$72
• HOA: −$0
• Vacancy / Maint / Mgmt: −$492
• Net cashflow: $676

Break-even live

Break-even rent $1,488

Max offer price $172,000

Occupancy floor 66%

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: $43,000
• Closing costs: $5,160
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
167 Clinton Rd New Hartford, NY	3.0	1.0–2.5	1063	$3,000	$2.82	43d	15	1.11mi
118 Copeland Ct Apt 205 New Hartford, NY	2.0	2.0	1200	$2,100	$1.75	43d	1	1.19mi
77 Clinton St New York Mills, NY	2.0	1.0	777	$1,450	$1.86	43d	7	1.22mi

Listing history 14 events

1. 2026-06-15
   statusdays on market $172,000 Pending 60 DOM
2. 2026-06-14
   days on market $172,000 Active 59 DOM
3. 2026-06-13
   days on market $172,000 Active 58 DOM
4. 2026-06-10
   days on market $172,000 Active 56 DOM
5. 2026-06-09
   days on market $172,000 Active 55 DOM
6. 2026-06-08
   days on market $172,000 Active 54 DOM
7. 2026-06-07
   days on market $172,000 Active 53 DOM
8. 2026-06-05
   days on market $172,000 Active 50 DOM
9. 2026-06-03
   days on market $172,000 Active 49 DOM
10. 2026-06-02
    days on market $172,000 Active 48 DOM
11. 2026-06-01
    days on market $172,000 Active 47 DOM
12. 2026-05-31
    days on market $172,000 Active 46 DOM
13. 2026-05-30
    days on market $172,000 Active 45 DOM
14. 2026-04-15
    listed $172,000 Active 517-char remark

    Show marketing remark (517 chars)

    This 2008 Doublewide Home, built with 1250 sq ft of Living Space, which includes Two Full Baths, Three Bedrooms, a large Living Room, a Formal Dining Room, an added Sunroom, and a Laundry area, is located in the Park View Estates and offering New Hartford Schools, with features such as an added Sunroom, an exterior Retractable Awning, Municipal Water & Sewer, Metal Roofing, and all necessary appliances: Electric Stove, Refrigerator & Dishwasher. A Lot Fee of $610 includes Taxes, Water, & Garbage

ⓘ 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: $2,424 · $202/mo
• Projected year-2 tax: $2,665 · $222/mo
• Expected delta: +$241/yr (+$20/mo · 10.0%)

ⓘ 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 ≥95°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,123
• − Mortgage interest: −$9,635
• − Property taxes: −$2,424
• − Insurance: −$860
• − Repairs & maintenance: −$2,250
• − Management: −$2,250
• − Depreciation: −$5,004
• Taxable income: $5,701
• Est. tax owed @ 24.0%: −$1,368
• After-tax cash flow: $6,741/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: New Hartford Central School District
• NCES district ID: 3620370
• Math proficiency: 65% ▼ -7.00%
• Reading proficiency: 76% ▲ 5.00%
• Median HH income: $67,028
• Composite: 61.37/100
• National rank: #769
• State rank: #128 of 590 in NY

Livability — New York Mills

• Score: 78/100
• State rank: #175
• US rank: #2712

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Oneida County · 89,710 people
• City population: 3,012
• Metro: Utica-Rome, NY
• Population (ZIP): 16,742
• Household income: $95,261
• Rent vs Own: 23.0% rent · 77.0% own
• Severe rent burden: 395.0

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 (88%)
• Race & ethnicity: White 88% Asian 4% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Romanian 8% Lithuanian 4% Subsaharan African 3%
• Foreign-born: 11% · Vietnam, China, Canada
• Languages at home: 86% English-only · Other Indo-European 4% Other Asian/Pacific 3% Russian/Polish/Slavic 2%

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: ▼ -210.17%
• Current HPI: 295.4235
• Rent YoY: —
• Metro: Utica-Rome, 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

1 event — show timeline

• 2026-04-15 Listed $172,000 CNYIS

Property tax history

+19.1%/yr

Latest (2025): $2,424 · +2.8% YoY. Source: county tax records.