6282 Lamphear Rd · Rome, NY 13440

$279,900

6 bd · 2.0 ba · 2,474 sqft · MultiFamily public records · 45 Days on market

Built 1920 81 ac lot $113/sqft · 114% above area ↓ 23% since listing

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Why this score? — see what drove the C 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 +25.3/30.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

A multi opportunity farm having over 80 acres, a 2400 sq ft rehab home 2nd floor open to studs, with new roof, many new windows and new electric panel, a 40x100 dairy/horse barn with several stalls, a 32x80 pole barn, a 22x40 carriage barn, and a milk house. Minutes to Rome Air Base, 10 minutes to NYS Thruway Verona, Turning Stone Casino, Vernon Downs. Bring your horses, do a Barndominium! The residence is as is, seller bought it as an investment.

Key facts

• New electric panel
• 32x80 pole barn
• Over 80 acres

Tags

• OVER 80 ACRES
• NEW ROOF
• NEW WINDOWS
• NEW ELECTRIC PANEL
• 40X100 DAIRY BARN
• 32X80 POLE BARN

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $280k.

Deal economics

• At list price, monthly cash flow is $636 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $280k).
• Recommended offer: $272k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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; 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 $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($272k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 4y 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 $225k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $271,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.13% ✓
• Cap rate: 9.02%
• Cash-on-cash: 9.74%
• DSCR: 1.43
• GRM: 7.4

CMA / ARV

• ARV (median comp): $130,972
• List price: $279,900
• Delta: 113.71%
• Verdict: OVERPRICED
• Comps: 18 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6793 S James St	0.45mi	6/2.0	2,298 (-7%)	18mo	$330,000	$144	52

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: -1.6%
• Equity multiple: 0.94×
• Total profit: $-4,826
• Equity at exit: $41,734

10-year hold

• IRR: 8.1%
• Equity multiple: 1.61×
• Total profit: $47,989
• Equity at exit: $24,201

Cash invested: $78,372 (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: 14.8×

Monthly cashflow live

• Estimated rent: $3,158 medium
• Mortgage (P&I): −$1,468
• Tax from tax record: −$274 /mo · $3,288/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$663
• Net cashflow: $636

Break-even live

Break-even rent $2,353

Max offer price $279,900

Occupancy floor 75%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,158
Total (2 units)			$3,158

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-04-15
   listed $279,900 Active 451-char remark

   Show marketing remark (451 chars)

   A multi opportunity farm having over 80 acres, a 2400 sq ft rehab home 2nd floor open to studs, with new roof, many new windows and new electric panel, a 40x100 dairy/horse barn with several stalls, a 32x80 pole barn, a 22x40 carriage barn, and a milk house. Minutes to Rome Air Base, 10 minutes to NYS Thruway Verona, Turning Stone Casino, Vernon Downs. Bring your horses, do a Barndominium! The residence is as is, seller bought it as an investment.

2. 2026-03-08
   historical
3. 2026-03-08
   historical
4. 2026-03-06
   historical
5. 2026-03-06
   historical
6. 2026-03-05
   historical
7. 2026-03-05
   historical
8. 2025-12-05
   status Pending
9. 2025-12-05
   status Pending
10. 2025-10-27
    status Active
11. 2025-10-27
    price $199,900
12. 2025-10-25
    status Active
13. 2025-09-23
    status Pending
14. 2025-09-23
    status Pending
15. 2025-09-16
    price $279,900
16. 2025-09-05
    listed $179,900 Active
17. 2025-09-05
    listed $265,000 Active
18. 2025-08-03
    historical
19. 2025-08-01
    listed $265,000 Active
20. 2023-06-09
    soldstatus $225,000 Closed Sale or Rented
21. 2023-03-13
    status Pending Sale
22. 2023-02-01
    price $279,000
23. 2022-12-27
    price $299,000
24. 2022-11-14
    price $320,000
25. 2022-11-03
    listed $365,000 Active
26. 2022-10-14
    historical
27. 2022-07-15
    historical
28. 2022-07-15
    listed $365,000 Active
29. 2022-07-14
    listed $365,000 Active

ⓘ 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: $3,288 · $274/mo
• Projected year-2 tax: $4,009 · $334/mo
• Expected delta: +$721/yr (+$60/mo · 21.9%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥95°F today · 16 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: $37,896
• − Mortgage interest: −$15,679
• − Property taxes: −$3,288
• − Insurance: −$1,400
• − Repairs & maintenance: −$3,032
• − Management: −$3,032
• − Depreciation: −$8,143
• Taxable income: $3,323
• Est. tax owed @ 24.0%: −$798
• After-tax cash flow: $6,838/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

-23.3% since first listed

29 events — show timeline

• 2026-04-15 Listed $279,900 CNYIS
• 2026-03-08 Listing Removed — CNYIS
• 2026-03-08 Listing Removed — CNYIS
• 2026-03-06 Listing Removed — CNYIS
• 2026-03-06 Listing Removed — CNYIS
• 2026-03-05 Listing Removed — CNYIS
• 2026-03-05 Listing Removed — CNYIS
• 2025-12-05 Pending — CNYIS
• 2025-12-05 Pending — CNYIS
• 2025-10-27 Relisted — CNYIS
• 2025-10-27 Price Changed $199,900 CNYIS
• 2025-10-25 Relisted — CNYIS
• 2025-09-23 Pending — CNYIS
• 2025-09-23 Pending — CNYIS
• 2025-09-16 Price Changed $279,900 CNYIS
• 2025-09-05 Listed $265,000 CNYIS
• 2025-09-05 Listed $179,900 CNYIS
• 2025-08-03 Listing Removed — CNYIS
• 2025-08-01 Listed $265,000 CNYIS
• 2023-06-09 Sold (MLS) $225,000 CNYIS
• 2023-03-13 Pending — CNYIS
• 2023-02-01 Price Changed $279,000 CNYIS
• 2022-12-27 Price Changed $299,000 CNYIS
• 2022-11-14 Price Changed $320,000 CNYIS
• 2022-11-03 Listed $365,000 CNYIS
• 2022-10-14 Listing Removed — CNYIS
• 2022-07-15 Listed $365,000 CNYIS
• 2022-07-15 Listing Removed — CNYIS
• 2022-07-14 Listed $365,000 CNYIS

Property tax history

-3.7%/yr

Latest (2025): $3,288 · +0.3% YoY. Source: county tax records.