Oneonta, NY Cap Rate: 4.85% — Rental Property Analysis
Oneonta is a budget-friendly market in the Northeast with a small but investable metro of 50,000. At a 4.85% estimated cap rate, this is a moderate market where rents of $1,310/mo lag behind home prices. With a median home price of $200,000 and the population has been declining, which investors should factor into long-term projections, Oneonta offers opportunities for investors who source deals carefully.
Market data powered by Zillow Home Value Index (ZHVI) and Zillow Observed Rent Index (ZORI) · Updated Feb 2026
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Moderate — source deals carefully
Based on $200,000 median price and $1,310/mo median rent
Est. Cap Rate
4.85%
1% Rule
0.66%
Fails
GRM
12.7x
Price / Income
4.5x
Market Data
Median Home Price$200,000
Median Monthly Rent$1,310
Property Tax Rate1.71%
Population50,000
Population Growth0% / yr
Median Household Income$43,975
Vacancy Rate6.3%
Annual Appreciation2.1%
2026 Market Update: Oneonta
Oneonta's 0.7% rent-to-price ratio is well below the 1% rule. At median prices of $200,000, the $1,310/mo rent produces only $809/mo in NOI. Investors here need to target below-median properties or pursue value-add strategies to make the numbers work.
At current rates, a 20% down conventional loan ($40K at 7%) would result in approximately $-255/mo cash flow — negative at median prices. Larger down payments, seller financing, or buying 15–25% below median are strategies to turn the numbers positive.
Property taxes consume 22% of gross rent here — one of the highest ratios in our dataset. This significantly compresses margins and makes Oneonta a market where tax-conscious underwriting is essential. Every deal should be stress-tested with potential assessment increases.
Cap Rate Calculator — Oneonta
Pre-filled with Oneonta medians. Adjust to match a specific property.
Property Details
$
$
3–8% typical
%
Monthly Expenses
1.71% rate
$
$
8–10% of rent
$
8–12% of rent
$
Cap Rate
3.84%Low
Net Operating Income ÷ Purchase Price
NOI / Year
$7,674
net operating income
Gross Rent Multiplier
12.7x
Good (<15)
1% Rule
0.66%
✗ Fails
Monthly Cash Flow
$639
before debt service
Annual Breakdown
Gross Rental Income$15,720
Less Vacancy−$990
Effective Income$14,730
Less Operating Expenses−$7,056
Net Operating Income$7,674
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Factor in financing to see your actual return on invested capital in Oneonta.
$
$50,000
%
%
years
$
taxes + ins + maint + mgmt
$
$
Cash-on-Cash Return
-4.67%Weak
Annual Cash Flow ÷ Total Cash Invested
Total Cash Invested
$56,000
$50,000 down + $6,000 closing
Monthly Mortgage
$978
on $150K loan
Monthly Cash Flow
$-218
after all expenses
Annual Cash Flow
$-2,615
before taxes
Cash Flow Breakdown
Monthly Rent$1,310
Less Expenses−$550
Less Mortgage−$978
Monthly Cash Flow$-218
Is Oneonta a Good Place to Invest in Rental Property?
Oneonta, NY has a population of 50,000 and has been growing at 0% annually — roughly in line with national trends, meaning demand is stable but not exceptional. The median home price of $200,000 paired with median rents of $1,310/mo produces an estimated cap rate of 4.85%.
Property taxes at 1.71% are notably high and represent a significant drag on cash flow — model this expense carefully, as it can make or break a deal. The vacancy rate of 6.3% is moderate and within normal parameters for a healthy rental market.
At a price-to-income ratio of 4.5x, homes cost about 4.5 times the local median income of $43,975. This moderate ratio indicates a balanced rent-vs-buy market. Home values have appreciated at roughly 2.1% annually. Steady appreciation means total returns will be primarily cash flow-driven — the more sustainable model for long-term wealth building.
Bottom line: Oneonta presents moderate opportunities. Cap rates near 4.85% mean deals need careful sourcing — look for value-add rehabs or emerging neighborhoods where rents are climbing.
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