608 W Thomas St · Rome, NY 13440

$50,000

4 bd · 2.0 ba · 1,785 sqft · MultiFamily public records · 821 Days on market

Built 1923 6,534 sqft lot

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Key facts

• 6,534 sq ft lot
• Built 1923
• Listed 821 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $50k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 31.9% 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.

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: 276 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $346 of loan paydown is wiped out by about $2k 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 $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 821 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago 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.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $44,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 821 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 3.62% ✓
• Cap rate: 31.90%
• Cash-on-cash: 91.46%
• DSCR: 5.07
• GRM: 2.3

CMA / ARV

• ARV (on-the-fly): $105,315
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
312 Expense St	0.19mi	4/2.0	1,656 (-7%)	1mo	$132,000	$80	78
600 W Embargo St	0.11mi	4/2.0	1,778 (-0%)	21mo	$110,000	$62	77
302 Expense St	0.23mi	3/2.0 (-1)	1,838 (+3%)	10mo	$34,000	$18	71
512 W Thomas St	0.16mi	4/2.0	1,868 (+5%)	17mo	$77,000	$41	71
209 W Embargo St	0.57mi	4/2.0	1,712 (-4%)	16mo	$130,000	$76	53
403 W Embargo St	0.38mi	4/2.0	1,932 (+8%)	20mo	$100,000	$52	52
501 Calvert St	0.53mi	4/2.0	1,700 (-5%)	21mo	$25,000	$15	50
408 W Willett	0.50mi	5/2.0 (+1)	1,900 (+6%)	17mo	$149,500	$79	47
416 Pond St	0.35mi	3/2.0 (-1)	2,039 (+14%)	10mo	$77,250	$38	46
610 N Washington St	0.63mi	3/1.5 (-1)	1,928 (+8%)	18mo	$114,000	$59	35

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: 92.2%
• Equity multiple: 5.28×
• Total profit: $59,892
• Equity at exit: $7,455

10-year hold

• IRR: 95.1%
• Equity multiple: 10.99×
• Total profit: $139,808
• Equity at exit: $4,323

Cash invested: $14,000 (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: 276
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,808 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$78 /mo · $940/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $1,067

Break-even live

Break-even rent $457

Max offer price $50,000

Occupancy floor 36%

Sensitivity live

Price	-10% $1,095	-5% $1,081	+0% $1,067	+5% $1,053	+10% $1,039
Rent	-10% $924	-5% $996	+0% $1,067	+5% $1,138	+10% $1,210
Rate	-1.0pp $1,092	-0.5pp $1,080	base $1,067	+0.5pp $1,054	+1.0pp $1,041

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,808
Total (2 units)			$1,808

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
251 Liam Ln Unit 251 Rome, NY	3.0	2.0	1577	$2,750	$1.74	44d	1	1.11mi
1611 Craig St Rome, NY	3.0	1.0	1250	$2,000	$1.60	44d	1	1.15mi

Listing history 5 events

1. 2026-03-18
   status Pending
2. 2024-11-21
   status Active
3. 2024-06-10
   status Pending
4. 2023-07-07
   listed $50,000 Active
5. 2017-01-11
   soldstatus $486,000

ⓘ 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: $940 · $78/mo
• Projected year-2 tax: $940 · $78/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: $21,696
• − Mortgage interest: −$2,801
• − Property taxes: −$940
• − Insurance: −$250
• − Repairs & maintenance: −$1,736
• − Management: −$1,736
• − Depreciation: −$1,455
• Taxable income: $12,780
• Est. tax owed @ 24.0%: −$3,067
• After-tax cash flow: $9,737/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

-89.7% since first listed

5 events — show timeline

• 2026-03-18 Pending — CNYIS
• 2024-11-21 Relisted — CNYIS
• 2024-06-10 Pending — CNYIS
• 2023-07-07 Listed $50,000 CNYIS
• 2017-01-11 Sold (Public Records) $486,000 Public Records

Property tax history

-0.7%/yr

Latest (2025): $940 · +0.3% YoY. Source: county tax records.