5927 46 · Durhamville, NY 13478

$199,000

2 bd · 1.5 ba · 2,840 sqft · MultiFamily public records · 282 Days on market

Built 1930 0.40 ac lot $70/sqft · 56% below area

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Why this score? — see what drove the F 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).

• Appreciation +9.8/10.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +2.0/30.0
• 1% rule +0.4/10.0
• DSCR +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

Unique mixed-use building with rich history and endless potential! Originally built as a general store during the Erie Canal era, it has evolved through many uses—restaurants, bars, apartments, and most recently a music and events venue. For the past eight years, it has been a warm residence upstairs and a creative hub downstairs, hosting weddings, concerts, contra dances, showers, and family gatherings. Featuring reclaimed barnwood, custom details, and flexible zoning, the property is ideal for residential, commercial, or live/work use. Extensively renovated blending historic charm with modern comfort. Major updates include sump pumps, barn beam supports, new electrical wiring, pellet stoves, and multiple new porches with entry access. The first floor was fully remodeled with new walls, insulation, ceilings, floors, and two bathrooms—one featuring a hand-painted mural. Features include vaulted ceilings, ADA-compliant entry and baths, custom hardwood from reclaimed beams, restored flooring, stage, and unique wood chandeliers. Studio/office areas offer new tile, bamboo floors, ceilings, and windows. The upstairs apartment includes an open layout, restored hardwood, updated kitchen and bath, new windows, insulation, and energy-efficient thermostat. Three bedrooms feature custom barn doors and fresh finishes. Plus, professionally designed landscaping with grand lawn, walkways, flower beds, and trellises, a rock-lined lawn and gardens, and a driveway partition for privacy. Spacious layout upstairs and down offers potential for multiple units or business opportunities. Prime location—10 minutes to Oneida, Turning Stone, Verona Beach, and Sylvan Beach; 20 minutes to Rome and Utica; 30–40 minutes to Syracuse. Steps from the Erie Canal Trail, perfect for biking and walking. A one-of-a-kind property filled with character, history, and opportunity, ready for its next chapter. Also listed under Commercial S1639436.

Key facts

• Grand lawn
• Custom details
• Major updates

Tags

• EXTENSIVELY RENOVATED
• MAJOR UPDATES
• CUSTOM DETAILS
• ADA-COMPLIANT ENTRY
• GRAND LAWN
• ROCK-LINED LAWN

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath multifamily listed at $199k.

Deal economics

• At list price, monthly cash flow is $-734 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $108k (45.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $107k (46.4% below list).
• Recommended offer: $107k (46.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#693 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living A-; Watch: health & safety C-, crime F, amenities F.
• Sherrill City School District (rural): math 38% / reading 53% proficiency, ranked #439 of 590 in NY (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Vernon-Verona-Sherrill Middle School (math 22% / reading 49%, grade F, #473 of 729 statewide, top 66%, 278 students, 46% FRL); Vernon-Verona-Sherrill Senior High School (math 92% / reading 50%, grade B+, #701 of 1,100 statewide, top 64%, 563 students, 36% FRL).
• Market conditions: 22 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 $20k of equity ($1k loan paydown + $19k appreciation (9.5% local appreciation)).
• Oneida County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 282 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $54k; list at $199k implies a 269% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $106,604 (46.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 282 days. Have you received any prior offers? Is the seller open to a 46% concession, seller financing, or rate buy-down credit?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.54% ✗
• Cap rate: 1.87%
• Cash-on-cash: -15.80%
• DSCR: 0.30
• GRM: 15.6

CMA / ARV

• ARV (median comp): $453,460
• List price: $199,000
• Delta: -56.12%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

9.53% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.2%
• Equity multiple: 1.99×
• Total profit: $55,383
• Equity at exit: $172,471

10-year hold

• IRR: 12.8%
• Equity multiple: 4.56×
• Total profit: $198,580
• Equity at exit: $364,929

Cash invested: $55,720 (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 13478

• Home prices YoY: 3.2%
• Active inventory: 22
• Price-to-rent: 15.6×

Monthly cashflow live

• Estimated rent: $1,066 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$450 /mo · $5,395/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $-734

Break-even live

Break-even rent $1,995

Max offer price $107,893

Occupancy floor —

Sensitivity live

Price	-10% $-621	-5% $-678	+0% $-734	+5% $-790	+10% $-847
Rent	-10% $-818	-5% $-776	+0% $-734	+5% $-692	+10% $-650
Rate	-1.0pp $-634	-0.5pp $-683	base $-734	+0.5pp $-785	+1.0pp $-838

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $199,000 Active 282 DOM
2. 2026-06-21
   days on market $199,000 Active 281 DOM
3. 2026-06-18
   days on market $199,000 Active 279 DOM
4. 2026-06-17
   days on market $199,000 Active 278 DOM
5. 2026-06-16
   days on market $199,000 Active 277 DOM
6. 2026-06-15
   days on market $199,000 Active 276 DOM
7. 2026-06-13
   days on market $199,000 Active 274 DOM
8. 2026-06-12
   days on market $199,000 Active 273 DOM
9. 2026-06-09
   days on market $199,000 Active 270 DOM
10. 2026-06-08
    days on market $199,000 Active 269 DOM
11. 2026-06-07
    days on market $199,000 Active 268 DOM
12. 2026-06-07
    days on market $199,000 Active 267 DOM
13. 2026-06-04
    days on market $199,000 Active 264 DOM
14. 2026-06-02
    days on market $199,000 Active 263 DOM
15. 2026-06-01
    days on market $199,000 Active 262 DOM
16. 2026-05-31
    days on market $199,000 Active 261 DOM
17. 2026-03-23
    price $205,000 1961-char remark

    Show marketing remark (1961 chars)

    Unique mixed-use building with rich history and endless potential! Originally built as a general store during the Erie Canal era, it has evolved through many uses—restaurants, bars, apartments, and most recently a music and events venue. For the past eight years, it has been a warm residence upstairs and a creative hub downstairs, hosting weddings, concerts, contra dances, showers, and family gatherings. Featuring reclaimed barnwood, custom details, and flexible zoning, the property is ideal for residential, commercial, or live/work use. Extensively renovated blending historic charm with modern comfort. Major updates include sump pumps, barn beam supports, new electrical wiring, pellet stoves, and multiple new porches with entry access. The first floor was fully remodeled with new walls, insulation, ceilings, floors, and two bathrooms—one featuring a hand-painted mural. Features include vaulted ceilings, ADA-compliant entry and baths, custom hardwood from reclaimed beams, restored flooring, stage, and unique wood chandeliers. Studio/office areas offer new tile, bamboo floors, ceilings, and windows. The upstairs apartment includes an open layout, restored hardwood, updated kitchen and bath, new windows, insulation, and energy-efficient thermostat. Three bedrooms feature custom barn doors and fresh finishes. Plus, professionally designed landscaping with grand lawn, walkways, flower beds, and trellises, a rock-lined lawn and gardens, and a driveway partition for privacy. Spacious layout upstairs and down offers potential for multiple units or business opportunities. Prime location—10 minutes to Oneida, Turning Stone, Verona Beach, and Sylvan Beach; 20 minutes to Rome and Utica; 30–40 minutes to Syracuse. Steps from the Erie Canal Trail, perfect for biking and walking. A one-of-a-kind property filled with character, history, and opportunity, ready for its next chapter. Also listed under Commercial S1639436.

18. 2025-12-01
    price $195,000 1961-char remark

    Show marketing remark (1961 chars)

    Unique mixed-use building with rich history and endless potential! Originally built as a general store during the Erie Canal era, it has evolved through many uses—restaurants, bars, apartments, and most recently a music and events venue. For the past eight years, it has been a warm residence upstairs and a creative hub downstairs, hosting weddings, concerts, contra dances, showers, and family gatherings. Featuring reclaimed barnwood, custom details, and flexible zoning, the property is ideal for residential, commercial, or live/work use. Extensively renovated blending historic charm with modern comfort. Major updates include sump pumps, barn beam supports, new electrical wiring, pellet stoves, and multiple new porches with entry access. The first floor was fully remodeled with new walls, insulation, ceilings, floors, and two bathrooms—one featuring a hand-painted mural. Features include vaulted ceilings, ADA-compliant entry and baths, custom hardwood from reclaimed beams, restored flooring, stage, and unique wood chandeliers. Studio/office areas offer new tile, bamboo floors, ceilings, and windows. The upstairs apartment includes an open layout, restored hardwood, updated kitchen and bath, new windows, insulation, and energy-efficient thermostat. Three bedrooms feature custom barn doors and fresh finishes. Plus, professionally designed landscaping with grand lawn, walkways, flower beds, and trellises, a rock-lined lawn and gardens, and a driveway partition for privacy. Spacious layout upstairs and down offers potential for multiple units or business opportunities. Prime location—10 minutes to Oneida, Turning Stone, Verona Beach, and Sylvan Beach; 20 minutes to Rome and Utica; 30–40 minutes to Syracuse. Steps from the Erie Canal Trail, perfect for biking and walking. A one-of-a-kind property filled with character, history, and opportunity, ready for its next chapter. Also listed under Commercial S1639436.

19. 2025-11-07
    price $219,900 1961-char remark

    Show marketing remark (1961 chars)

    Unique mixed-use building with rich history and endless potential! Originally built as a general store during the Erie Canal era, it has evolved through many uses—restaurants, bars, apartments, and most recently a music and events venue. For the past eight years, it has been a warm residence upstairs and a creative hub downstairs, hosting weddings, concerts, contra dances, showers, and family gatherings. Featuring reclaimed barnwood, custom details, and flexible zoning, the property is ideal for residential, commercial, or live/work use. Extensively renovated blending historic charm with modern comfort. Major updates include sump pumps, barn beam supports, new electrical wiring, pellet stoves, and multiple new porches with entry access. The first floor was fully remodeled with new walls, insulation, ceilings, floors, and two bathrooms—one featuring a hand-painted mural. Features include vaulted ceilings, ADA-compliant entry and baths, custom hardwood from reclaimed beams, restored flooring, stage, and unique wood chandeliers. Studio/office areas offer new tile, bamboo floors, ceilings, and windows. The upstairs apartment includes an open layout, restored hardwood, updated kitchen and bath, new windows, insulation, and energy-efficient thermostat. Three bedrooms feature custom barn doors and fresh finishes. Plus, professionally designed landscaping with grand lawn, walkways, flower beds, and trellises, a rock-lined lawn and gardens, and a driveway partition for privacy. Spacious layout upstairs and down offers potential for multiple units or business opportunities. Prime location—10 minutes to Oneida, Turning Stone, Verona Beach, and Sylvan Beach; 20 minutes to Rome and Utica; 30–40 minutes to Syracuse. Steps from the Erie Canal Trail, perfect for biking and walking. A one-of-a-kind property filled with character, history, and opportunity, ready for its next chapter. Also listed under Commercial S1639436.

20. 2025-10-23
    price $229,900 1961-char remark

    Show marketing remark (1961 chars)

    Unique mixed-use building with rich history and endless potential! Originally built as a general store during the Erie Canal era, it has evolved through many uses—restaurants, bars, apartments, and most recently a music and events venue. For the past eight years, it has been a warm residence upstairs and a creative hub downstairs, hosting weddings, concerts, contra dances, showers, and family gatherings. Featuring reclaimed barnwood, custom details, and flexible zoning, the property is ideal for residential, commercial, or live/work use. Extensively renovated blending historic charm with modern comfort. Major updates include sump pumps, barn beam supports, new electrical wiring, pellet stoves, and multiple new porches with entry access. The first floor was fully remodeled with new walls, insulation, ceilings, floors, and two bathrooms—one featuring a hand-painted mural. Features include vaulted ceilings, ADA-compliant entry and baths, custom hardwood from reclaimed beams, restored flooring, stage, and unique wood chandeliers. Studio/office areas offer new tile, bamboo floors, ceilings, and windows. The upstairs apartment includes an open layout, restored hardwood, updated kitchen and bath, new windows, insulation, and energy-efficient thermostat. Three bedrooms feature custom barn doors and fresh finishes. Plus, professionally designed landscaping with grand lawn, walkways, flower beds, and trellises, a rock-lined lawn and gardens, and a driveway partition for privacy. Spacious layout upstairs and down offers potential for multiple units or business opportunities. Prime location—10 minutes to Oneida, Turning Stone, Verona Beach, and Sylvan Beach; 20 minutes to Rome and Utica; 30–40 minutes to Syracuse. Steps from the Erie Canal Trail, perfect for biking and walking. A one-of-a-kind property filled with character, history, and opportunity, ready for its next chapter. Also listed under Commercial S1639436.

21. 2025-10-01
    price $239,900 1961-char remark

    Show marketing remark (1961 chars)

    Unique mixed-use building with rich history and endless potential! Originally built as a general store during the Erie Canal era, it has evolved through many uses—restaurants, bars, apartments, and most recently a music and events venue. For the past eight years, it has been a warm residence upstairs and a creative hub downstairs, hosting weddings, concerts, contra dances, showers, and family gatherings. Featuring reclaimed barnwood, custom details, and flexible zoning, the property is ideal for residential, commercial, or live/work use. Extensively renovated blending historic charm with modern comfort. Major updates include sump pumps, barn beam supports, new electrical wiring, pellet stoves, and multiple new porches with entry access. The first floor was fully remodeled with new walls, insulation, ceilings, floors, and two bathrooms—one featuring a hand-painted mural. Features include vaulted ceilings, ADA-compliant entry and baths, custom hardwood from reclaimed beams, restored flooring, stage, and unique wood chandeliers. Studio/office areas offer new tile, bamboo floors, ceilings, and windows. The upstairs apartment includes an open layout, restored hardwood, updated kitchen and bath, new windows, insulation, and energy-efficient thermostat. Three bedrooms feature custom barn doors and fresh finishes. Plus, professionally designed landscaping with grand lawn, walkways, flower beds, and trellises, a rock-lined lawn and gardens, and a driveway partition for privacy. Spacious layout upstairs and down offers potential for multiple units or business opportunities. Prime location—10 minutes to Oneida, Turning Stone, Verona Beach, and Sylvan Beach; 20 minutes to Rome and Utica; 30–40 minutes to Syracuse. Steps from the Erie Canal Trail, perfect for biking and walking. A one-of-a-kind property filled with character, history, and opportunity, ready for its next chapter. Also listed under Commercial S1639436.

22. 2025-09-11
    listed $250,000 Active 1961-char remark

    Show marketing remark (1961 chars)

    Unique mixed-use building with rich history and endless potential! Originally built as a general store during the Erie Canal era, it has evolved through many uses—restaurants, bars, apartments, and most recently a music and events venue. For the past eight years, it has been a warm residence upstairs and a creative hub downstairs, hosting weddings, concerts, contra dances, showers, and family gatherings. Featuring reclaimed barnwood, custom details, and flexible zoning, the property is ideal for residential, commercial, or live/work use. Extensively renovated blending historic charm with modern comfort. Major updates include sump pumps, barn beam supports, new electrical wiring, pellet stoves, and multiple new porches with entry access. The first floor was fully remodeled with new walls, insulation, ceilings, floors, and two bathrooms—one featuring a hand-painted mural. Features include vaulted ceilings, ADA-compliant entry and baths, custom hardwood from reclaimed beams, restored flooring, stage, and unique wood chandeliers. Studio/office areas offer new tile, bamboo floors, ceilings, and windows. The upstairs apartment includes an open layout, restored hardwood, updated kitchen and bath, new windows, insulation, and energy-efficient thermostat. Three bedrooms feature custom barn doors and fresh finishes. Plus, professionally designed landscaping with grand lawn, walkways, flower beds, and trellises, a rock-lined lawn and gardens, and a driveway partition for privacy. Spacious layout upstairs and down offers potential for multiple units or business opportunities. Prime location—10 minutes to Oneida, Turning Stone, Verona Beach, and Sylvan Beach; 20 minutes to Rome and Utica; 30–40 minutes to Syracuse. Steps from the Erie Canal Trail, perfect for biking and walking. A one-of-a-kind property filled with character, history, and opportunity, ready for its next chapter. Also listed under Commercial S1639436.

23. 2018-12-17
    soldstatus $54,000

ⓘ 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: $5,395 · $450/mo
• Projected year-2 tax: $5,395 · $450/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $12,792
• − Mortgage interest: −$11,147
• − Property taxes: −$5,395
• − Insurance: −$995
• − Repairs & maintenance: −$1,023
• − Management: −$1,023
• − Depreciation: −$5,789
• Taxable loss: −$12,580
• Est. tax savings @ 24.0%: +$3,019
• After-tax cash flow: $-5,787/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: Sherrill City School District
• NCES district ID: 3626760
• Math proficiency: 38% ▼ -17.00%
• Reading proficiency: 53% ▲ 7.00%
• Median HH income: $57,927
• Composite: 39.76/100
• National rank: #3888
• State rank: #439 of 590 in NY

Livability — Durhamville

• Score: 65/100
• State rank: #693
• US rank: #12659

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,331

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% Hispanic / Latino 3% Two or more races 1%
• Common ancestry: Iranian 6% Romanian 6% Lithuanian 3%
• Foreign-born: 2%
• Languages at home: 97% English-only · Russian/Polish/Slavic 1% Tagalog/Filipino 1% German/W. Germanic 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: ▲ 9.53%
• Current HPI: 304.2112
• 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

+279.6% since first listed

7 events — show timeline

• 2026-03-23 Price Changed $205,000 CNYIS
• 2025-12-01 Price Changed $195,000 CNYIS
• 2025-11-07 Price Changed $219,900 CNYIS
• 2025-10-23 Price Changed $229,900 CNYIS
• 2025-10-01 Price Changed $239,900 CNYIS
• 2025-09-11 Listed $250,000 CNYIS
• 2018-12-17 Sold (Public Records) $54,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $5,395 · +4.7% YoY. Source: county tax records.