364 W 3rd St S · Fulton, NY 13069

$109,000

4 bd · 2.0 ba · 1,210 sqft · MultiFamily public records · 22 Days on market

Built 1930 8,712 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.4/10.0
• ARV discount +7.5/15.0
• Livability +3.1/5.0
• Schools +3.0/10.0
• 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

Here is a great investment income opportunity for a seasoned or new investor. This property has never had an issue of being rented, and is currently under lease for both units. Many new updates including a new metal roof in Spring 2026. Each unit is leased for $900/month. Please allow 24- hour notice for showing requests.

Key facts

• 8,712 sq ft lot
• Garage
• Built 1930

Property features AI

Finance

• Other: Two total units in the building; Two separate gas meters and two separate electric meters (one per unit)
• Financial info: Owner pays snow removal and water; rent includes snow removal and water; Operating expenses for the multi-unit include maintenance structure, maintenance, trash, and water/sewer

Exterior

• Parking: Parking available
• Utilities: Cable available; Public water connected; Sewer connected
• Home design: Two-story building; Existing structure
• Construction: Vinyl siding; Metal roof; Block and stone foundation; Built previously (existing)
• Exterior features: Covered porch; Near public transit; Rectangular residential lot with 66 x 132 dimensions; City street frontage

Interior

• Kitchen: Gas water heater
• Bedrooms: 2-unit building (individual unit bedroom counts not provided)
• Flooring: Ceramic tile; Hardwood; Resilient flooring; Vinyl; Varied
• Bathrooms: Two full bathrooms (total in building)
• Heating & cooling: Gas forced-air heating
• Interior features: Natural woodwork; Ceramic tile, hardwood, resilient, varied, and vinyl flooring; Full basement
• Laundry & utility: Separate gas and electric meters for each unit

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $109k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $109k).
• Recommended offer: $107k (1.5% below list) — sets the bar for market timing.
• Cap rate 21.1% vs local median 6.9% in Fulton — 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 61/100 on livability (#907 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, schools D-, crime F.
• Fulton City School District (town): math 29% / reading 43% proficiency, ranked #554 of 590 in NY (top 94%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 115 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 172 units permitted in Oswego County in 2024 (27 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($754 loan paydown + $7k appreciation (6.8% local appreciation)).
• Oswego County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.8% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $29k; list at $109k implies a 276% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $107,365 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-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. 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?
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: 2.56% ✓
• Cap rate: 21.13%
• Cash-on-cash: 52.98%
• DSCR: 3.36
• GRM: 3.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.75% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 62.4%
• Equity multiple: 5.01×
• Total profit: $122,285
• Equity at exit: $73,731

10-year hold

• IRR: 58.7%
• Equity multiple: 10.56×
• Total profit: $291,641
• Equity at exit: $138,452

Cash invested: $30,520 (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 13069

• Home prices YoY: 2.3%
• Active inventory: 115
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $2,785 medium
• Mortgage (P&I): −$572
• Tax from tax record: −$236 /mo · $2,829/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$585
• Net cashflow: $1,347

Break-even live

Break-even rent $1,079

Max offer price $109,000

Occupancy floor 47%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,786
Total (2 units)			$2,785

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
262 W 4th St S Unit 1 Fulton, NY	3.0	1.0	1316	$1,500	$1.14	43d	1	0.17mi
312 Utica St Fulton, NY	3.0	1.0	1060	$1,300	$1.23	13d	1	0.76mi

Listing history 15 events

1. 2026-06-14
   days on market $109,000 Active 22 DOM
2. 2026-06-13
   days on market $109,000 Active 21 DOM
3. 2026-06-10
   days on market $109,000 Active 19 DOM
4. 2026-06-09
   days on market $109,000 Active 18 DOM
5. 2026-06-08
   days on market $109,000 Active 17 DOM
6. 2026-06-07
   pricedays on market $109,000 Active 16 DOM
7. 2026-06-02
   days on market $124,900 Active 11 DOM
8. 2026-06-01
   days on market $124,900 Active 10 DOM
9. 2026-05-31
   days on market $124,900 Active 9 DOM
10. 2026-05-30
    days on market $124,900 Active 8 DOM
11. 2026-05-21
    listed $124,900 Active
12. 2015-12-04
    soldstatus $29,000
13. 2009-02-09
    soldstatus $30,000
14. 2005-09-27
    soldstatus $25,000
15. 2005-09-27
    soldstatus $32,000

ⓘ 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: $2,829 · $236/mo
• Projected year-2 tax: $2,829 · $236/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 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,420
• − Mortgage interest: −$6,106
• − Property taxes: −$2,829
• − Insurance: −$545
• − Repairs & maintenance: −$2,674
• − Management: −$2,674
• − Depreciation: −$3,171
• Taxable income: $15,422
• Est. tax owed @ 24.0%: −$3,701
• After-tax cash flow: $12,467/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: Fulton City School District
• NCES district ID: 3611700
• Math proficiency: 29% ▼ -11.00%
• Reading proficiency: 43% ▲ 5.00%
• Median HH income: $43,337
• Composite: 30.49/100
• National rank: #6220
• State rank: #554 of 590 in NY

Livability — Fulton

• Score: 61/100
• State rank: #907
• US rank: #17723

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fulton, NY
• Population (ZIP): 23,176

Population outlook (Oswego County) Hauer SSP2

• Today (2025): 114,465 people
• By 2030: 109,968 · -3.9%
• By 2040: 99,205 · -13.3%
• By 2050: 87,979 · -23.1%
• By 2075: 65,100 · -43.1%
• By 2100: 47,117 · -58.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Lithuanian 6% Romanian 6% Iranian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Oswego

• 2024 margin: Strong R (+24.2) · D 37.9% · R 62.1%
• 2008→2024 swing: -26.6pp toward R · 2008: 2.5pp · 2024: -24.2pp
• All cycles: 2024: R+24.2 2020: R+20.2 2016: R+23.2 2012: D+7.9 2008: D+2.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.75%
• Current HPI: 304.443
• 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

+399.6% since first listed

5 events — show timeline

• 2026-05-21 Listed $124,900 CNYIS
• 2015-12-04 Sold (Public Records) $29,000 Public Records
• 2009-02-09 Sold (Public Records) $30,000 Public Records
• 2005-09-27 Sold (Public Records) $32,000 Public Records
• 2005-09-27 Sold (Public Records) $25,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $2,829 · +2.2% YoY. Source: county tax records.