105 Seiter St · Boonville, NY 13309

$44,900

4 bd · 2.0 ba · 2,030 sqft · MultiFamily public records · 25 Days on market

Built 1970

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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 +15.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Investor Opportunity & acirc; & euro; & ldquo; 2,000 Sq Ft Full Gut Rehab & acirc; & euro; & ldquo; Ready to Finish Investor opportunity in Boonville. Property is fully gutted and ready to be finished, offering a clean slate for redevelopment. ? 2,000 sq ft ? Newer roofing shingles ? New underground water service from street ? New sewer line installed to the house ? Electric service from pole (two existing 100 amp services) ? New 200 amp panel ready for installation ? Solid stone foundation Previously configured as multi-family. Flexible layout allows restoration as duplex or conversion to a large single-family home. Interior access available. Property is gutted

Key facts

• New electric service
• Full gut rehab
• Flexible layout

Tags

• FULL GUT REHAB
• NEW UNDERGROUND WATER SERVICE
• NEW SEWER LINE
• NEW ELECTRIC SERVICE
• SOLID STONE FOUNDATION
• FLEXIBLE LAYOUT

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $45k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $45k).
• Recommended offer: $44k (1.5% below list) — sets the bar for market timing.
• Cap rate 38.0% vs local median 3.6% in Boonville — 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 79/100 on livability (#146 in NY, #2,225 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, commute F.
• Adirondack Central School District (rural): math 41% / reading 54% proficiency, ranked #426 of 590 in NY (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 38 active listings in the ZIP; 204 units permitted in Oneida County in 2024 (68 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($310 loan paydown + $4k appreciation (10.0% local appreciation)).
• Oneida County population projected at -12% 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 $13k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($44k) is reasonable based on typical stale-listing flexibility.

Recommended offer $44,226 (1.5% below list)

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 4.28% ✓
• Cap rate: 38.02%
• Cash-on-cash: 113.30%
• DSCR: 6.04
• GRM: 1.9

CMA / ARV

• ARV (on-the-fly): $160,370
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
517 Main	0.39mi	3/3.0 (-1)	1,993 (-2%)	6mo	$158,400	$79	64

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: —
• Equity multiple: 8.96×
• Total profit: $100,094
• Equity at exit: $40,449

10-year hold

• IRR: —
• Equity multiple: 19.72×
• Total profit: $235,393
• Equity at exit: $87,231

Cash invested: $12,572 (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 13309

• Home prices YoY: 24.5%
• Active inventory: 38
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,921 medium
• Mortgage (P&I): −$235
• Tax from tax record: −$76 /mo · $917/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $1,187

Break-even live

Break-even rent $419

Max offer price $44,900

Occupancy floor 33%

Sensitivity live

Price	-10% $1,212	-5% $1,200	+0% $1,187	+5% $1,174	+10% $1,162
Rent	-10% $1,035	-5% $1,111	+0% $1,187	+5% $1,263	+10% $1,339
Rate	-1.0pp $1,210	-0.5pp $1,198	base $1,187	+0.5pp $1,175	+1.0pp $1,164

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,920
Total (2 units)			$1,921

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: $11,225
• Closing costs: $1,347
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $44,900 Active 25 DOM
2. 2026-06-18
   days on market $44,900 Active 23 DOM
3. 2026-06-17
   days on market $44,900 Active 22 DOM
4. 2026-06-16
   days on market $44,900 Active 21 DOM
5. 2026-06-15
   days on market $44,900 Active 20 DOM
6. 2026-06-13
   days on market $44,900 Active 18 DOM
7. 2026-06-12
   days on market $44,900 Active 17 DOM
8. 2026-06-09
   days on market $44,900 Active 14 DOM
9. 2026-06-08
   days on market $44,900 Active 13 DOM
10. 2026-06-07
    days on market $44,900 Active 12 DOM
11. 2026-06-07
    days on market $44,900 Active 11 DOM
12. 2026-06-04
    days on market $44,900 Active 8 DOM
13. 2026-06-02
    days on market $44,900 Active 7 DOM
14. 2026-06-01
    days on market $44,900 Active 6 DOM
15. 2026-05-31
    days on market $44,900 Active 5 DOM
16. 2026-05-26
    listed $44,900 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: $917 · $76/mo
• Projected year-2 tax: $917 · $76/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 1/10 Low 7 d/yr ≥89°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: $23,052
• − Mortgage interest: −$2,515
• − Property taxes: −$917
• − Insurance: −$224
• − Repairs & maintenance: −$1,844
• − Management: −$1,844
• − Depreciation: −$1,306
• Taxable income: $14,401
• Est. tax owed @ 24.0%: −$3,456
• After-tax cash flow: $10,788/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: Adirondack Central School District
• NCES district ID: 3605040
• Math proficiency: 41% ▼ -5.00%
• Reading proficiency: 54% ▲ 5.00%
• Median HH income: $50,343
• Composite: 40.7/100
• National rank: #3669
• State rank: #426 of 590 in NY

Livability — Boonville

• Score: 79/100
• State rank: #146
• US rank: #2225

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Boonville, NY
• City population: 5,828
• Population (ZIP): 5,828

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 (95%)
• Race & ethnicity: White 95% Two or more races 4%
• Common ancestry: Romanian 10% Lithuanian 5% Slovak 3%
• Foreign-born: 0%

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: ▲ 83.52%
• Current HPI: 425.0098
• 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

1 event — show timeline

• 2026-05-26 Listed $44,900 FSBO.com

Property tax history

-2.9%/yr

Latest (2025): $917 · -26.3% YoY. Source: county tax records.