406 South George St · Rome, NY 13440

$144,900

7 bd · 2.0 ba · 2,080 sqft · MultiFamily public records · 86 Days on market

Built 1890 Est $116k · 24% over

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Why this score? — see what drove the C+ 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
• Schools +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +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

VERY NICE MULTI-FAMILY BOTH UNITS VERY CLEAN NEAT. SEPARATE UTILITIES. 3 STALL DETACHED GARAGE 39`X20`, WORKSHOP 24`X14`, SEPARATE ENTRIES. MONEY MAKER FOR INVESTOR OR LIVE IN ONE UNIT LET THE OTHER UNIT PAY THE MORTGAGE

Key facts

• 3 garage spots
• Built 1890
• Listed 86 days

What this means for you Summary

Snapshot

• This is a 7-bed/2.0-bath multifamily listed at $145k.

Deal economics

• At list price, monthly cash flow is $958 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $136k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.2% vs local median 5.7% in Rome — 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 64/100 on livability (#722 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools F, amenities F.
• Rome City School District (town): math 35% / reading 46% proficiency, ranked #516 of 590 in NY (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 278 active listings in the ZIP; 204 units permitted in Oneida County in 2024 (68 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Oneida County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 25y 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 $39k; list at $145k implies a 268% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $136,206 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.63% ✓
• Cap rate: 14.23%
• Cash-on-cash: 28.34%
• DSCR: 2.26
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $116,480
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
147 River St	0.74mi	6/2.0 (-1)	2,259 (+9%)	11mo	$25,000	$11	37
149 River St	0.75mi	6/2.0 (-1)	2,308 (+11%)	8mo	$129,000	$56	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 22.6%
• Equity multiple: 1.92×
• Total profit: $37,519
• Equity at exit: $21,605

10-year hold

• IRR: 30.5%
• Equity multiple: 3.74×
• Total profit: $111,161
• Equity at exit: $12,528

Cash invested: $40,572 (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 13440

• Home prices YoY: -8.0%
• Active inventory: 278
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,365 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$90 /mo · $1,080/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$497
• Net cashflow: $958

Break-even live

Break-even rent $1,152

Max offer price $144,900

Occupancy floor 54%

Sensitivity live

Price	-10% $1,040	-5% $999	+0% $958	+5% $917	+10% $876
Rent	-10% $771	-5% $865	+0% $958	+5% $1,051	+10% $1,145
Rate	-1.0pp $1,031	-0.5pp $995	base $958	+0.5pp $921	+1.0pp $882

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,366
Total (2 units)			$2,365

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-04-12
   status Pending
2. 2026-03-29
   historical Active Under Contract
3. 2026-01-16
   listed $144,900 Active
4. 2025-09-12
   historical
5. 2025-03-19
   listed $164,900 Active
6. 2002-08-16
   soldstatus $39,400 224-char remark

   Show marketing remark (224 chars)

   VERY NICE MULTI-FAMILY BOTH UNITS VERY CLEAN NEAT. SEPARATE UTILITIES. 3 STALL DETACHED GARAGE 39`X20`, WORKSHOP 24`X14`, SEPARATE ENTRIES. MONEY MAKER FOR INVESTOR OR LIVE IN ONE UNIT LET THE OTHER UNIT PAY THE MORTGAGE

7. 2002-08-16
   soldstatus $39,400

   Show marketing remark (224 chars)

   VERY NICE MULTI-FAMILY BOTH UNITS VERY CLEAN NEAT. SEPARATE UTILITIES. 3 STALL DETACHED GARAGE 39`X20`, WORKSHOP 24`X14`, SEPARATE ENTRIES. MONEY MAKER FOR INVESTOR OR LIVE IN ONE UNIT LET THE OTHER UNIT PAY THE MORTGAGE

8. 2001-12-21
   listed $41,500 224-char remark

   Show marketing remark (224 chars)

   VERY NICE MULTI-FAMILY BOTH UNITS VERY CLEAN NEAT. SEPARATE UTILITIES. 3 STALL DETACHED GARAGE 39`X20`, WORKSHOP 24`X14`, SEPARATE ENTRIES. MONEY MAKER FOR INVESTOR OR LIVE IN ONE UNIT LET THE OTHER UNIT PAY THE MORTGAGE

ⓘ 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: $1,080 · $90/mo
• Projected year-2 tax: $1,765 · $147/mo
• Expected delta: +$684/yr (+$57/mo · 63.3%)

ⓘ 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 3/10 Moderate 7 d/yr ≥94°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,380
• − Mortgage interest: −$8,117
• − Property taxes: −$1,080
• − Insurance: −$724
• − Repairs & maintenance: −$2,270
• − Management: −$2,270
• − Depreciation: −$4,215
• Taxable income: $9,702
• Est. tax owed @ 24.0%: −$2,329
• After-tax cash flow: $9,168/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: Rome City School District
• NCES district ID: 3624900
• Math proficiency: 35% ▼ -4.00%
• Reading proficiency: 46% ▲ 10.00%
• Median HH income: $46,406
• Composite: 34.52/100
• National rank: #5178
• State rank: #516 of 590 in NY

Livability — Rome

• Score: 64/100
• State rank: #722
• US rank: #13676

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rome, NY
• City population: 41,418
• Population (ZIP): 41,273

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 (82%)
• Race & ethnicity: White 82% Hispanic / Latino 7% Two or more races 6% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Romanian 9% Lithuanian 4% Slovak 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 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: ▼ -29.58%
• Current HPI: 339.3589
• 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

+249.2% since first listed

8 events — show timeline

• 2026-04-12 Pending — CNYIS
• 2026-03-29 Contingent — CNYIS
• 2026-01-16 Listed $144,900 CNYIS
• 2025-09-12 Listing Removed — CNYIS
• 2025-03-19 Listed $164,900 CNYIS
• 2002-08-16 Sold (Public Records) $39,400 Public Records
• 2002-08-16 Sold (MLS) $39,400 CNYIS
• 2001-12-21 Listed $41,500 CNYIS

Property tax history

+0.3%/yr

Latest (2025): $1,080 · +0.3% YoY. Source: county tax records.