2 8th St · Oneonta, NY 13820

$169,900

4 bd · 2.0 ba · 2,295 sqft · MultiFamily public records · 5 Days on market

Built 1920 3,485 sqft lot Est $230k · 26% 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 +4.3/10.0
• Livability +3.8/5.0
• 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

What a fantastic City of Oneonta investment opportunity! Two spacious rentals await you at 2 8th Street. The first floor apartment has a welcoming front porch where your tenants can lounge and enjoy a breeze. And the second floor apartment has its own private balcony. Both apartments offer 7 rooms each! Separate living rooms and dining rooms with separate kitchens, 2 large bedrooms each and each apartment even has a flex space room that can be used as a closet or storage. This opportunity will not last long!

Key facts

• Flex space room
• Private balcony
• Front porch

Tags

• FRONT PORCH
• PRIVATE BALCONY
• FLEX SPACE ROOM

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $170k.

Deal economics

• At list price, monthly cash flow is $747 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $170k).
• Cap rate 11.6% vs local median 5.5% in Oneonta — 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 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.
• Market conditions: 119 active listings in the ZIP; 133 units permitted in Otsego County in 2024 (10 in 5+ unit buildings).
• At $2,639/mo this rent would consume 48% of the median local household income ($66k/yr) (locally 662% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $18k of equity ($1k loan paydown + $17k 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 $48k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $112k; list at $170k implies a 51% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $169,900

Questions for the listing agent

1. Built in 1920 — 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. 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?
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: 1.55% ✓
• Cap rate: 11.57%
• Cash-on-cash: 18.83%
• DSCR: 1.84
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $229,500
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
83 Hudson St	0.10mi	4/2.0	2,110 (-8%)	1mo	$223,000	$106	81
18-20 Rose Ave	0.10mi	4/3.0	2,176 (-5%)	5mo	$90,000	$41	79
469 Main St	0.16mi	5/2.0 (+1)	2,564 (+12%)	18mo	$140,000	$55	53
22 Fair St	0.54mi	5/3.0 (+1)	2,024 (-12%)	23mo	$202,000	$100	27

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: 38.3%
• Equity multiple: 3.95×
• Total profit: $140,228
• Equity at exit: $153,059

10-year hold

• IRR: 33.0%
• Equity multiple: 8.90×
• Total profit: $375,830
• Equity at exit: $330,078

Cash invested: $47,572 (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 13820

• Home prices YoY: 22.7%
• Active inventory: 119
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,639 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$376 /mo · $4,517/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$554
• Net cashflow: $747

Break-even live

Break-even rent $1,694

Max offer price $169,900

Occupancy floor 67%

Sensitivity live

Price	-10% $843	-5% $795	+0% $747	+5% $699	+10% $650
Rent	-10% $538	-5% $642	+0% $747	+5% $851	+10% $955
Rate	-1.0pp $832	-0.5pp $790	base $747	+0.5pp $703	+1.0pp $658

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$2,638
Total (2 units)			$2,639

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-04-15
   status Pending
2. 2026-04-15
   historical Active Under Contract
3. 2026-04-10
   listed $169,900 Active
4. 2016-07-11
   soldstatus $112,500
5. 1993-03-18
   soldstatus $72,100

ⓘ 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: $4,517 · $376/mo
• Projected year-2 tax: $4,517 · $376/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 2/10 Low 8 d/yr ≥92°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 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: $31,668
• − Mortgage interest: −$9,517
• − Property taxes: −$4,517
• − Insurance: −$850
• − Repairs & maintenance: −$2,533
• − Management: −$2,533
• − Depreciation: −$4,943
• Taxable income: $6,775
• Est. tax owed @ 24.0%: −$1,626
• After-tax cash flow: $7,334/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: 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

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 · 23,056 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: 662.0

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%

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%

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

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

+135.6% since first listed

5 events — show timeline

• 2026-04-15 Pending — UNYREIS
• 2026-04-15 Contingent — UNYREIS
• 2026-04-10 Listed $169,900 UNYREIS
• 2016-07-11 Sold (Public Records) $112,500 Public Records
• 1993-03-18 Sold (Public Records) $72,100 Public Records

Property tax history

+3.5%/yr

Latest (2025): $4,517 · +5.6% YoY. Source: county tax records.