14-16 Otsego St · Oneonta, NY 13820

$250,000

6 bd · 2.0 ba · 2,756 sqft · MultiFamily public records · 82 Days on market

Built 1920 $91/sqft · 48% below area Est $482k · 48% 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 +28.0/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +9.9/10.0
• 1% rule +8.2/10.0
• 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 (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

14–16 Otsego Street – Turnkey 2-Family Investment (Portfolio Sale Required) Don’t miss this outstanding opportunity to own a well-performing two-family property in the heart of Oneonta. 14–16 Otsego Street is a spacious duplex featuring 6 bedrooms and 2 bathrooms, with each unit offering 3 bedrooms, making it highly desirable for tenants seeking larger living spaces. Each unit is equipped with separate utilities, helping to minimize owner expenses, while the owner is responsible only for water and sewer. The property has a strong rental history and currently produces a solid annual NOI of $17,800, making it an excellent cash-flowing asset from day one. Portfolio Sale Requirement This property must be purchased as part of a three-property investment package, offering scale and consistent returns: 1–3 Birch Street – Two-unit duplex (3BR + 2BR), separate utilities, NOI: $16,125 34 Pine Street – Two-unit duplex (3BR + 2BR), separate utilities, plus additional garage rental income, NOI: $15,575 Investment Overview: Total Portfolio NOI: $49,500 Offered at a 7.125% cap rate 6 total units across 3 properties Strong tenant demand in a proven rental market Separate utilities throughout for efficient management Why 14–16 Otsego St Stands Out: Larger unit layouts (all 3-bedroom units) attract stable, long-term tenants Central location near schools, downtown, and amenities Consistent income with potential for future rent growth Secure 14–16 Otsego Street as the cornerstone of a high-performing multi-family portfolio in Oneonta. An ideal opportunity for investors looking to step into immediate cash flow with built-in scale.

Key facts

• Separate utilities
• Consistent income
• Spacious duplex

Tags

• TWO FAMILY PROPERTY
• SPACIOUS DUPLEX
• SEPARATE UTILITIES
• STRONG RENTAL HISTORY
• CENTRAL LOCATION
• CONSISTENT INCOME

🏷️ Possibly a rental listed for sale. The $250,000 price doesn't fit this home's estimated sale value (~$481,567) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $721 ($9k/yr) — positive. Per door: $360/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $235k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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 $3,291/mo this rent would consume 60% 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 $27k of equity ($2k loan paydown + $25k 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 $70k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($235k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $136k; list at $250k implies a 84% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $235,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% 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. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 10.02%
• Cash-on-cash: 13.31%
• DSCR: 1.59
• GRM: 6.3

CMA / ARV

• ARV (median comp): $481,567
• List price: $250,000
• Delta: -48.09%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
37 Church St	0.50mi	6/2.0	2,820 (+2%)	6mo	$250,037	$89	68
19-21 Otsego St	0.04mi	7/3.5 (+1)	2,994 (+9%)	6mo	$210,000	$70	68
51-53 Church St	0.51mi	5/3.0 (-1)	2,668 (-3%)	17mo	$370,000	$139	48
469 Main St	0.44mi	5/2.0 (-1)	2,564 (-7%)	18mo	$140,000	$55	47
27 Church St	0.49mi	7/2.0 (+1)	2,354 (-15%)	1mo	$360,000	$153	47
21 Watkins Ave	0.65mi	5/2.0 (-1)	2,904 (+5%)	20mo	$153,000	$53	39

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

Projected returns pro-forma

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

5-year hold

• IRR: 33.4%
• Equity multiple: 3.60×
• Total profit: $182,196
• Equity at exit: $225,220

10-year hold

• IRR: 28.8%
• Equity multiple: 8.15×
• Total profit: $500,728
• Equity at exit: $485,695

Cash invested: $70,000 (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 13820

• Home prices YoY: 22.7%
• Active inventory: 118
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $3,291 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$409 /mo · $4,902/yr
• Insurance: −$104
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$691
• Net cashflow: $721

Break-even live

Break-even rent $2,379

Max offer price $250,000

Occupancy floor 73%

Sensitivity live

Price	-10% $862	-5% $791	+0% $721	+5% $650	+10% $579
Rent	-10% $461	-5% $591	+0% $721	+5% $851	+10% $981
Rate	-1.0pp $847	-0.5pp $784	base $721	+0.5pp $656	+1.0pp $590

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,290
Total (2 units)			$3,291

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $250,000 Active 82 DOM
2. 2026-06-18
   days on market $250,000 Active 81 DOM
3. 2026-06-17
   days on market $250,000 Active 80 DOM
4. 2026-06-16
   days on market $250,000 Active 79 DOM
5. 2026-06-15
   days on market $250,000 Active 78 DOM
6. 2026-06-14
   days on market $250,000 Active 76 DOM
7. 2026-06-12
   days on market $250,000 Active 75 DOM
8. 2026-06-09
   days on market $250,000 Active 72 DOM
9. 2026-06-08
   days on market $250,000 Active 71 DOM
10. 2026-06-07
    days on market $250,000 Active 70 DOM
11. 2026-06-07
    days on market $250,000 Active 69 DOM
12. 2026-06-02
    days on market $250,000 Active 65 DOM
13. 2026-06-01
    days on market $250,000 Active 64 DOM
14. 2026-05-31
    days on market $250,000 Active 63 DOM
15. 2026-05-31
    days on market $250,000 Active 62 DOM
16. 2026-03-29
    listed $250,000 Active 1706-char remark

    Show marketing remark (1706 chars)

    14–16 Otsego Street – Turnkey 2-Family Investment (Portfolio Sale Required) Don’t miss this outstanding opportunity to own a well-performing two-family property in the heart of Oneonta. 14–16 Otsego Street is a spacious duplex featuring 6 bedrooms and 2 bathrooms, with each unit offering 3 bedrooms, making it highly desirable for tenants seeking larger living spaces. Each unit is equipped with separate utilities, helping to minimize owner expenses, while the owner is responsible only for water and sewer. The property has a strong rental history and currently produces a solid annual NOI of $17,800, making it an excellent cash-flowing asset from day one. Portfolio Sale Requirement This property must be purchased as part of a three-property investment package, offering scale and consistent returns: 1–3 Birch Street – Two-unit duplex (3BR + 2BR), separate utilities, NOI: $16,125 34 Pine Street – Two-unit duplex (3BR + 2BR), separate utilities, plus additional garage rental income, NOI: $15,575 Investment Overview: Total Portfolio NOI: $49,500 Offered at a 7.125% cap rate 6 total units across 3 properties Strong tenant demand in a proven rental market Separate utilities throughout for efficient management Why 14–16 Otsego St Stands Out: Larger unit layouts (all 3-bedroom units) attract stable, long-term tenants Central location near schools, downtown, and amenities Consistent income with potential for future rent growth Secure 14–16 Otsego Street as the cornerstone of a high-performing multi-family portfolio in Oneonta. An ideal opportunity for investors looking to step into immediate cash flow with built-in scale.

17. 2016-12-12
    soldstatus $136,000
18. 2009-06-09
    soldstatus $163,400
19. 2006-09-14
    soldstatus $145,408

ⓘ 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: $4,902 · $409/mo
• Projected year-2 tax: $4,902 · $409/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 8/10 Severe 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: $39,492
• − Mortgage interest: −$14,004
• − Property taxes: −$4,902
• − Insurance: −$1,916
• − Repairs & maintenance: −$3,159
• − Management: −$3,159
• − Depreciation: −$7,273
• Taxable income: $5,078
• Est. tax owed @ 24.0%: −$1,219
• After-tax cash flow: $7,429/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

+71.9% since first listed

4 events — show timeline

• 2026-03-29 Listed $250,000 CNYIS
• 2016-12-12 Sold (Public Records) $136,000 Public Records
• 2009-06-09 Sold (Public Records) $163,400 Public Records
• 2006-09-14 Sold (Public Records) $145,408 Public Records

Property tax history

+2.8%/yr

Latest (2025): $4,902 · +5.6% YoY. Source: county tax records.