720 N Madison St · Rome, NY 13440

$107,000

4 bd · 3.0 ba · 2,412 sqft · MultiFamily public records · 29 Days on market

Built 1930 7,405 sqft lot Est $118k · 9% 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 +11.8/15.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Excellent investment opportunity featuring three units: a two-bedroom unit on first floor, along with one studio and one one-bedroom units on the upper level. Vacant. Property Sold As Is

Key facts

• 7,405 sq ft lot
• 4 garage spots
• Built 1930

Property features AI

Finance

• Financial info: Property contains three total units with separate gas and electric meters for each unit; Tenants pay all utilities; Operating expenses include insurance (see remarks)

Exterior

• Parking: Attached garage with 4 spaces
• Utilities: Public water connected; Sewer connected
• Home design: Two-story building; Resale property
• Construction: Vinyl siding; Asphalt roof
• Exterior features: Rectangular residential lot with 50 x 154 dimensions; City street frontage; Paved parking

Interior

• Kitchen: Eat-in kitchen in one unit
• Bedrooms: One 1-bedroom unit; One 2-bedroom unit
• Bathrooms: Three full bathrooms (total across property)
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 1×2bd/1.0ba + 2×1bd/1.0ba units multifamily listed at $107k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $367/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $107k).
• Recommended offer: $105k (1.5% below list) — sets the bar for market timing.
• Cap rate 18.6% 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; 1 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 $740 of loan paydown is wiped out by about $3k 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 $30k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 22y 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.
• Current owner paid $50k; list at $107k implies a 114% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,395 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.27% ✓
• Cap rate: 18.63%
• Cash-on-cash: 44.07%
• DSCR: 2.96
• GRM: 3.7

CMA / ARV

• ARV (on-the-fly): $118,188
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
408 N Madison St	0.37mi	4/2.0	2,412 (0%)	2mo	$70,000	$29	78
418 W Bloomfield St	0.20mi	5/2.0 (+1)	2,378 (-1%)	18mo	$144,000	$61	64
413 W Thomas St	0.35mi	5/2.0 (+1)	2,220 (-8%)	8mo	$48,000	$22	55
109 Stanwix St	0.63mi	3/2.0 (-1)	2,511 (+4%)	6mo	$122,000	$49	50
504 N Washington St	0.40mi	4/2.0	2,262 (-6%)	21mo	$60,000	$27	50
419 W Thomas St	0.35mi	4/2.0	2,200 (-9%)	20mo	$77,000	$35	49
425 W Bloomfield St	0.24mi	4/2.0	2,106 (-13%)	20mo	$218,000	$104	47
103 Stanwix St	0.61mi	5/2.0 (+1)	2,569 (+6%)	8mo	$92,700	$36	45
106 E Embargo St	0.59mi	4/2.0	2,102 (-13%)	6mo	$74,000	$35	42
619 W Thomas St	0.49mi	5/2.0 (+1)	2,154 (-11%)	11mo	$140,000	$65	41
504 Floyd Ave	0.70mi	5/2.0 (+1)	2,366 (-2%)	18mo	$169,950	$72	40
223 E Bloomfield St	0.64mi	5/2.0 (+1)	2,265 (-6%)	19mo	$142,994	$63	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: 41.1%
• Equity multiple: 2.76×
• Total profit: $52,825
• Equity at exit: $15,954

10-year hold

• IRR: 47.3%
• Equity multiple: 5.56×
• Total profit: $136,587
• Equity at exit: $9,251

Cash invested: $29,960 (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: 9.9×

Monthly cashflow live

• Estimated rent: $2,432 medium
• Mortgage (P&I): −$561
• Tax from tax record: −$215 /mo · $2,584/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$511
• Net cashflow: $1,100

Break-even live

Break-even rent $1,039

Max offer price $107,000

Occupancy floor 50%

Sensitivity live

Price	-10% $1,161	-5% $1,131	+0% $1,100	+5% $1,070	+10% $1,040
Rent	-10% $908	-5% $1,004	+0% $1,100	+5% $1,196	+10% $1,292
Rate	-1.0pp $1,154	-0.5pp $1,127	base $1,100	+0.5pp $1,073	+1.0pp $1,044

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$904
▸ 2× units	1	1	$1,528
Total (3 units)			$2,432

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: $26,750
• Closing costs: $3,210
• Reserves months: —
• Total cash needed: —

Rent comps 1 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	1.20mi

Listing history 10 events

1. 2026-05-05
   status Pending
2. 2026-04-06
   listed $107,000 Active
3. 2015-02-17
   soldstatus $50,000
4. 2014-09-20
   historical
5. 2014-03-20
   listed $50,000
6. 2014-03-03
   historical
7. 2013-09-12
   listed $59,900
8. 2006-04-04
   soldstatus $58,500
9. 2006-03-28
   soldstatus $62,010
10. 2004-12-31
    listed $64,900

ⓘ 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: $2,584 · $215/mo
• Projected year-2 tax: $2,584 · $215/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 5/10 Major FEMA zone X (unshaded) · 65% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,184
• − Mortgage interest: −$5,994
• − Property taxes: −$2,584
• − Insurance: −$535
• − Repairs & maintenance: −$2,335
• − Management: −$2,335
• − Depreciation: −$3,113
• Taxable income: $12,289
• Est. tax owed @ 24.0%: −$2,949
• After-tax cash flow: $10,254/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

+64.9% since first listed

10 events — show timeline

• 2026-05-05 Pending — CNYIS
• 2026-04-06 Listed $107,000 CNYIS
• 2015-02-17 Sold (Public Records) $50,000 Public Records
• 2014-09-20 Listing Removed — CNYIS
• 2014-03-20 Listed $50,000 CNYIS
• 2014-03-03 Listing Removed — CNYIS
• 2013-09-12 Listed $59,900 CNYIS
• 2006-04-04 Sold (MLS) $58,500 CNYIS
• 2006-03-28 Sold (Public Records) $62,010 Public Records
• 2004-12-31 Listed $64,900 CNYIS

Property tax history

+1.7%/yr

Latest (2025): $2,584 · +0.3% YoY. Source: county tax records.