30-32 High St · Oneonta, NY 13820

$224,900

3 bd · 3.0 ba · 2,066 sqft · MultiFamily public records · 25 Days on market

Built 1930 8,276 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 +24.6/30.0
• Appreciation +10.0/10.0
• DSCR +7.9/10.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• 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: 2 units. confirmed

Listing remarks

Excellent investment opportunity in the heart of Oneonta! This multi-family property offers off-street parking, and an ideal location close to SUNY Oneonta, Hartwick College, downtown restaurants, shopping, and public transportation. Featuring updated interiors and solid rental appeal, this property is perfect for investors or owner-occupants looking to generate additional income. Large lot and convenient city living make this a must-see property

Key facts

• Large lot
• Updated interiors
• Off-street parking

Tags

• OFF-STREET PARKING
• UPDATED INTERIORS
• LARGE LOT

Property features AI

Finance

• Other: Building has 3 total units
• Financial info: Gross income: $23,380; Operating expenses: $3,290 (includes electric, insurance, water/sewer); Owner pays grounds care, snow removal, trash collection, water; Tenants pay all utilities; Rent includes gardener, snow removal, trash collection, water; Unit rents reported: $810, $640, $900

Exterior

• Parking: Two or more parking spaces
• Utilities: Public water connected; Sewer connected
• Home design: Two-story building; Existing/resale property
• Construction: Frame construction
• Exterior features: Rectangular residential lot; City street frontage; Lot dimensions approximately 58 x 142

Interior

• Kitchen: Electric water heater
• Bedrooms: Three 1-bedroom units (unit descriptions include living room; one unit includes a porch)
• Flooring: Carpet; Vinyl; Varies
• Bathrooms: Four full bathrooms total across the building
• Heating & cooling: Electric baseboard heating
• Interior features: Partial basement; Blown-in insulation
• Laundry & utility: Separate electric meters (4)

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2-bath units multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $466 ($6k/yr) — positive. Per door: $233/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $222k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.8% 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: 118 active listings in the ZIP; 133 units permitted in Otsego County in 2024 (10 in 5+ unit buildings).
• At $2,828/mo this rent would consume 51% 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 $24k of equity ($2k loan paydown + $22k 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 $63k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$39k 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 ($222k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $155k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $221,526 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.26% ✓
• Cap rate: 8.78%
• Cash-on-cash: 8.87%
• DSCR: 1.39
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $132,224
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16 Cedar St	0.57mi	3/3.0	1,800 (-13%)	8mo	$115,000	$64	45

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: 30.8%
• Equity multiple: 3.42×
• Total profit: $152,312
• Equity at exit: $202,608

10-year hold

• IRR: 26.7%
• Equity multiple: 7.76×
• Total profit: $425,563
• Equity at exit: $436,931

Cash invested: $62,972 (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: 118
• Price-to-rent: 13.3×

Monthly cashflow live

• Estimated rent: $2,828 medium
• Mortgage (P&I): −$1,179
• Tax from tax record: −$495 /mo · $5,946/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$594
• Net cashflow: $466

Break-even live

Break-even rent $2,239

Max offer price $224,900

Occupancy floor 79%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,828
Total (2 units)			$2,828

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $224,900 Active 25 DOM
2. 2026-06-18
   days on market $224,900 Active 24 DOM
3. 2026-06-17
   days on market $224,900 Active 23 DOM
4. 2026-06-16
   days on market $224,900 Active 22 DOM
5. 2026-06-15
   days on market $224,900 Active 21 DOM
6. 2026-06-14
   days on market $224,900 Active 19 DOM
7. 2026-06-12
   days on market $224,900 Active 18 DOM
8. 2026-06-09
   days on market $224,900 Active 15 DOM
9. 2026-06-08
   days on market $224,900 Active 14 DOM
10. 2026-06-07
    days on market $224,900 Active 13 DOM
11. 2026-06-07
    days on market $224,900 Active 12 DOM
12. 2026-06-02
    days on market $224,900 Active 8 DOM
13. 2026-06-01
    days on market $224,900 Active 7 DOM
14. 2026-05-31
    days on market $224,900 Active 6 DOM
15. 2026-05-31
    days on market $224,900 Active 5 DOM
16. 2026-05-25
    listed $224,900 Active
17. 2018-05-17
    soldstatus $155,000
18. 2006-09-06
    soldstatus $134,900

ⓘ 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: $5,946 · $495/mo
• Projected year-2 tax: $5,946 · $495/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 5/10 Major FEMA zone X (unshaded) · 47% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 8 d/yr ≥93°F today · 19 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: $33,936
• − Mortgage interest: −$12,598
• − Property taxes: −$5,946
• − Insurance: −$1,124
• − Repairs & maintenance: −$2,715
• − Management: −$2,715
• − Depreciation: −$6,543
• Taxable income: $2,296
• Est. tax owed @ 24.0%: −$551
• After-tax cash flow: $5,036/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

+66.7% since first listed

3 events — show timeline

• 2026-05-25 Listed $224,900 UNYREIS
• 2018-05-17 Sold (Public Records) $155,000 Public Records
• 2006-09-06 Sold (Public Records) $134,900 Public Records

Property tax history

+6.7%/yr

Latest (2025): $5,946 · +5.6% YoY. Source: county tax records.