114 Piper Rd · East Herkimer, NY 13350

$29,900

3 bd · 1.0 ba · 1,431 sqft · SingleFamily public records · 106 Days on market

Built 1940 0.68 ac lot $21/sqft · 82% below area ↓ 25% since listing

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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 +15.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

3 bed 1 bath home offering over 1400sqft with great potential for the right buyer. . The property is sold As-Is condition, Seller has no knowledge, priced to sell. Located right off of route 5. Short term seller financing options available.

Key facts

• 0.68 acre lot
• Parking
• Built 1940

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $30k).
• Recommended offer: $27k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Herkimer Central School District (town): math 46% / reading 47% proficiency, ranked #455 of 590 in NY (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 56 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 54 units permitted in Herkimer County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($207 loan paydown + $3k appreciation (10.0% local appreciation)).
• Herkimer County population projected at -24% 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 $8k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($27k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $27,209 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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. 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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 5.69% ✓
• Cap rate: 51.90%
• Cash-on-cash: 162.88%
• DSCR: 8.25
• GRM: 1.5

CMA / ARV

• ARV (median comp): $166,969
• List price: $29,900
• Delta: -82.09%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
352 Eureka Ave	0.48mi	3/1.5	1,386 (-3%)	12mo	$110,000	$79	60
171 Main Rd	0.32mi	4/1.0 (+1)	1,568 (+10%)	5mo	$146,000	$93	60
101 East St	0.44mi	3/1.0	1,350 (-6%)	12mo	$130,000	$96	59
308 West St	0.32mi	4/2.0 (+1)	1,324 (-8%)	8mo	$214,000	$162	57
401 Harter St	0.61mi	3/2.0	1,520 (+6%)	5mo	$193,000	$127	53
318 Gray St	0.61mi	3/1.0	1,316 (-8%)	11mo	$145,500	$111	49
404 Palisade St	0.39mi	3/1.5	1,232 (-14%)	11mo	$205,000	$166	47
110 Zoller Ave	0.69mi	3/2.0	1,340 (-6%)	9mo	$205,100	$153	46
349 Gray St	0.65mi	2/1.0 (-1)	1,344 (-6%)	13mo	$155,000	$115	44
334 Gray St	0.63mi	4/1.5 (+1)	1,536 (+7%)	10mo	$201,400	$131	43
515 W Lake Ave	0.75mi	4/1.5 (+1)	1,633 (+14%)	4mo	$109,900	$67	31
310 E German St	0.72mi	4/1.0 (+1)	1,624 (+14%)	11mo	$150,000	$92	30

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: —
• Equity multiple: 11.59×
• Total profit: $88,686
• Equity at exit: $26,936

10-year hold

• IRR: —
• Equity multiple: 25.40×
• Total profit: $204,300
• Equity at exit: $58,089

Cash invested: $8,372 (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 13350

• Home prices YoY: 8.9%
• Active inventory: 56
• Price-to-rent: 1.5×

Monthly cashflow live

• Estimated rent: $1,700 medium
• Mortgage (P&I): −$157
• Tax est. 1.5%: −$37 /mo · $448/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $1,136

Break-even live

Break-even rent $262

Max offer price $29,900

Occupancy floor 28%

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
502 Lake St Herkimer, NY	3.0	1.0	1125	$1,700	$1.51	43d	1	0.71mi

Listing history 6 events

1. 2026-05-15
   status Pending 240-char remark

   Show marketing remark (240 chars)

   3 bed 1 bath home offering over 1400sqft with great potential for the right buyer. . The property is sold As-Is condition, Seller has no knowledge, priced to sell. Located right off of route 5. Short term seller financing options available.

2. 2026-04-19
   price $29,900 240-char remark

   Show marketing remark (240 chars)

   3 bed 1 bath home offering over 1400sqft with great potential for the right buyer. . The property is sold As-Is condition, Seller has no knowledge, priced to sell. Located right off of route 5. Short term seller financing options available.

3. 2026-04-13
   price $32,900 240-char remark

   Show marketing remark (240 chars)

   3 bed 1 bath home offering over 1400sqft with great potential for the right buyer. . The property is sold As-Is condition, Seller has no knowledge, priced to sell. Located right off of route 5. Short term seller financing options available.

4. 2026-03-18
   price $34,900 240-char remark

   Show marketing remark (240 chars)

   3 bed 1 bath home offering over 1400sqft with great potential for the right buyer. . The property is sold As-Is condition, Seller has no knowledge, priced to sell. Located right off of route 5. Short term seller financing options available.

5. 2026-02-20
   price $37,900 240-char remark

   Show marketing remark (240 chars)

   3 bed 1 bath home offering over 1400sqft with great potential for the right buyer. . The property is sold As-Is condition, Seller has no knowledge, priced to sell. Located right off of route 5. Short term seller financing options available.

6. 2026-01-29
   listed $39,900 Active 240-char remark

   Show marketing remark (240 chars)

   3 bed 1 bath home offering over 1400sqft with great potential for the right buyer. . The property is sold As-Is condition, Seller has no knowledge, priced to sell. Located right off of route 5. Short term seller financing options available.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 16 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: $20,400
• − Mortgage interest: −$1,675
• − Property taxes: −$448
• − Insurance: −$150
• − Repairs & maintenance: −$1,632
• − Management: −$1,632
• − Depreciation: −$870
• Taxable income: $13,993
• Est. tax owed @ 24.0%: −$3,358
• After-tax cash flow: $10,278/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: Herkimer Central School District
• NCES district ID: 3614220
• Math proficiency: 46% ▲ 6.00%
• Reading proficiency: 47% ▲ 9.00%
• Median HH income: $39,447
• Composite: 38.87/100
• National rank: #4100
• State rank: #455 of 590 in NY

Livability — East Herkimer

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: East Herkimer, NY
• Population (ZIP): 9,641

Population outlook (Herkimer County) Hauer SSP2

• Today (2025): 59,340 people
• By 2030: 56,838 · -4.2%
• By 2040: 51,098 · -13.9%
• By 2050: 45,080 · -24.0%
• By 2075: 32,648 · -45.0%
• By 2100: 22,266 · -62.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Black 2% Asian 2% Hispanic / Latino 1%
• Common ancestry: Romanian 9% Lithuanian 4% Italian 3%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · French/Haitian/Cajun 2% Other Asian/Pacific 1% Spanish 1%

Political lean MEDSL · Herkimer

• 2024 margin: Solid R (+36.4) · D 31.8% · R 68.2%
• 2008→2024 swing: -27.1pp toward R · 2008: -9.3pp · 2024: -36.4pp
• All cycles: 2024: R+36.4 2020: R+30.5 2016: R+34.5 2012: R+8.4 2008: R+9.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 26.43%
• Current HPI: 324.4601
• 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

-25.1% since first listed

6 events — show timeline

• 2026-05-15 Pending — CNYIS
• 2026-04-19 Price Changed $29,900 CNYIS
• 2026-04-13 Price Changed $32,900 CNYIS
• 2026-03-18 Price Changed $34,900 CNYIS
• 2026-02-20 Price Changed $37,900 CNYIS
• 2026-01-29 Listed $39,900 CNYIS

Property tax history

+2.1%/yr

Latest (2025): $2,652 · +2.3% YoY. Source: county tax records.