7-9 Weidman Pl · Oneonta, NY 13820

$625,000

42 bd · None ba · 6,644 sqft · MultiFamily public records · 277 Days on market

Built 1900 Fair condition 0.39 ac lot $94/sqft · 30% below area Est $891k · 30% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Schools +5.8/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

6 UNITS, 16 BEDROOMS, 7 BATHROOMS! GREAT LOCATION, solid rental history, close to both colleges, a block to bus stop, great parking, short walk to Main Street. 3 two bedrooms, 2 three bedrooms, 1 four bedroom, all furnished. Boiler new 2010. Common laundry in basement, as well as 2 laundry areas upstairs (new 2017 & 2023). COC in place. Includes 2 parcels, 2nd tax map# 288.17-3-16. RENTS: Apt 1- 12 month lease, $1050 month, 2 bedrooms, rented thru 12/31/25. Apt 2 - $1250 per month, 2 bedrooms, lease thru 9/30/25 . Apt 3 - $1650 per month, 3 bedrooms. 11 month lease thru 5/30/26, Apt 4 - $1250 per month, 12 month lease, 2 bedrooms, rented thru 5/31/26. Apt 5 - $1250 per month, 3 bedrooms, rented mo/mo. Apt 6 - $3750 per student/per semester, 4 bedrooms/3 students, lease thru 5/17/26. Projected income: $107,400, Expenses: $54,717, which includes $9,762 management fee. Many recent improvements including new laundry area and new sewer line to the street.

Key facts

• Great parking
• Solid rental history
• 0.39 acre lot

Tags

• SOLID RENTAL HISTORY
• GREAT PARKING
• COMMON LAUNDRY IN BASEMENT
• NEW LAUNDRY AREAS UPSTAIRS
• NEW SEWER LINE TO THE STREET

🏷️ Possibly a rental listed for sale. The $625,000 price doesn't fit this home's estimated sale value (~$890,534) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 6 × 7-bed/?-bath units multifamily listed at $625k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $4k ($51k/yr) — positive. Per door: $711/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $625k).
• Recommended offer: $550k (12.0% below list) — sets the bar for market timing.

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.
• Zoned schools: Greater Plains Elementary School (math 37% / reading 57%, grade D-, #1,195 of 2,108 statewide, top 60%, 284 students, 40% FRL); Oneonta Middle School (math 28% / reading 56%, grade D-, #379 of 729 statewide, top 54%, 378 students, 44% FRL); Oneonta Senior High School (math 92% / reading 75%, grade A, #409 of 1,100 statewide, top 39%, 502 students, 37% FRL).
• Market conditions: 168 active listings in the ZIP; 133 units permitted in Otsego County in 2024 (10 in 5+ unit buildings).

Forward outlook

• In year one you build about $67k of equity ($4k loan paydown + $62k 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 $175k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$107k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 277 days — a 12% lower offer ($550k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 15y 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 $375k; list at $625k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $550,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 277 days. Have you received any prior offers? Is the seller open to a 12% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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.
11. 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.
12. 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: 1.84% ✓
• Cap rate: 14.59%
• Cash-on-cash: 29.63%
• DSCR: 2.32
• GRM: 4.5

CMA / ARV

• ARV (median comp): $890,534
• List price: $625,000
• Delta: -29.82%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 46.5%
• Equity multiple: 4.50×
• Total profit: $612,560
• Equity at exit: $563,050

10-year hold

• IRR: 40.4%
• Equity multiple: 10.09×
• Total profit: $1,591,219
• Equity at exit: $1,214,238

Cash invested: $175,000 (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: 168
• Price-to-rent: 27.1×

Monthly cashflow live

• Estimated rent: $11,520 medium
• Mortgage (P&I): −$3,278
• Tax from tax record: −$1,242 /mo · $14,900/yr
• Insurance: −$260
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,419
• Net cashflow: $4,266

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

Units	Beds	Baths	Est. rent
▸ 6× units	7	—	$11,520
Total (6 units)			$11,520

Break-even live

Break-even rent $6,121

Max offer price $625,000

Occupancy floor 58%

Sensitivity live

Price	-10% $4,619	-5% $4,442	+0% $4,266	+5% $4,089	+10% $3,912
Rent	-10% $3,356	-5% $3,811	+0% $4,266	+5% $4,721	+10% $5,176
Rate	-1.0pp $4,580	-0.5pp $4,425	base $4,266	+0.5pp $4,104	+1.0pp $3,939

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: $156,250
• Closing costs: $18,750
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6 Market St Oneonta, NY	2.0	1.0	400	$1,400	$3.50	93d	1	0.63mi
120 River St Oneonta, NY	2.0	1.0	700	$1,250	$1.79	93d	1	1.05mi
514-516 Main St Unit 3 Oneonta, NY	2.0	1.0	700	$950	$1.36	93d	1	1.27mi
514-516 Main St Unit 4 Oneonta, NY	2.0	1.0	700	$980	$1.40	93d	1	1.27mi
7 Wells Ave Oneonta, NY	3.0	1.0	1120	$1,800	$1.61	93d	1	1.32mi

Listing history 13 events

1. 2026-05-31
   days on market $625,000 Active 277 DOM
2. 2025-08-26
   listed $625,000 Active 971-char remark

   Show marketing remark (971 chars)

   6 UNITS, 16 BEDROOMS, 7 BATHROOMS! GREAT LOCATION, solid rental history, close to both colleges, a block to bus stop, great parking, short walk to Main Street. 3 two bedrooms, 2 three bedrooms, 1 four bedroom, all furnished. Boiler new 2010. Common laundry in basement, as well as 2 laundry areas upstairs (new 2017 & 2023). COC in place. Includes 2 parcels, 2nd tax map# 288.17-3-16. RENTS: Apt 1- 12 month lease, $1050 month, 2 bedrooms, rented thru 12/31/25. Apt 2 - $1250 per month, 2 bedrooms, lease thru 9/30/25 . Apt 3 - $1650 per month, 3 bedrooms. 11 month lease thru 5/30/26, Apt 4 - $1250 per month, 12 month lease, 2 bedrooms, rented thru 5/31/26. Apt 5 - $1250 per month, 3 bedrooms, rented mo/mo. Apt 6 - $3750 per student/per semester, 4 bedrooms/3 students, lease thru 5/17/26. Projected income: $107,400, Expenses: $54,717, which includes $9,762 management fee. Many recent improvements including new laundry area and new sewer line to the street.

3. 2025-04-30
   historical
4. 2024-08-09
   historical Active Under Contract
5. 2024-03-13
   listed $595,000 Active
6. 2024-01-16
   historical
7. 2023-03-09
   listed $699,000 Active
8. 2011-12-16
   soldstatus $375,000
9. 2011-12-12
   soldstatus $375,000
10. 2011-09-13
    soldstatus $208,249
11. 2011-05-04
    listed $425,000
12. 2007-07-18
    soldstatus $400,000
13. 2001-04-02
    soldstatus $150,000

ⓘ 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: $14,900 · $1,242/mo
• Projected year-2 tax: $14,900 · $1,242/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 2/10 Low 8 d/yr ≥93°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 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: $138,240
• − Mortgage interest: −$35,010
• − Property taxes: −$14,900
• − Insurance: −$3,792
• − Repairs & maintenance: −$11,059
• − Management: −$11,059
• − Depreciation: −$18,182
• Taxable income: $44,238
• Est. tax owed @ 24.0%: −$10,617
• After-tax cash flow: $40,570/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.

Condition & rehab AI · 2 photos

Fair 45/100 Moderate rehab Est. rehab $166,100–$298,980 screening

This multi-family property requires significant exterior repairs and maintenance, but has a solid rental history and potential for substantial value increase with updates.

Repairs flagged

• Major roof — Signs of wear and tear
• Major exterior siding — Weathered and peeling
• Major fencing — Old and in need of repair

Value-add opportunities

• Both paint exterior — Fresh paint enhances curb appeal and value ↑
• Both landscaping — Well-maintained landscaping improves curb appeal and rental value ↑
• Both replace roof — A new roof significantly increases the home's value and lifespan ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 58/100

Zoned Schools

Elementary Greater Plains Elementary School D- NY #1,195/2,108 Nat'l #14,504/41,679 Middle Oneonta Middle School D- NY #379/729 Nat'l #5,398/14,009 High Oneonta Senior High School A NY #409/1,100 Nat'l #817/17,239

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

B Composite livability gradescore 75/100

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 · 57,987 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: 10% of renters

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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%

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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%

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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

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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

+316.7% since first listed

12 events — show timeline

• 2025-08-26 Listed $625,000 UNYREIS
• 2025-04-30 Listing Removed — UNYREIS
• 2024-08-09 Contingent — UNYREIS
• 2024-03-13 Listed $595,000 UNYREIS
• 2024-01-16 Listing Removed — UNYREIS
• 2023-03-09 Listed $699,000 UNYREIS
• 2011-12-16 Sold (Public Records) $375,000 Public Records
• 2011-12-12 Sold (MLS) $375,000 UNYREIS
• 2011-09-13 Sold (Public Records) $208,249 Public Records
• 2011-05-04 Listed $425,000 UNYREIS
• 2007-07-18 Sold (Public Records) $400,000 Public Records
• 2001-04-02 Sold (Public Records) $150,000 Public Records

Property tax history

+5.3%/yr

Latest (2025): $14,900 · +5.6% YoY. Source: county tax records.