328 Pleasant Ave · Herkimer, NY 13350

$139,900

4 bd · 1.0 ba · 1,472 sqft · SingleFamily public records · 71 Days on market

Built 1890 $95/sqft · 22% above area Est $114k · 22% 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 +26.4/30.0
• Appreciation +10.0/10.0
• DSCR +9.0/10.0
• 1% rule +7.2/10.0
• Schools +3.9/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

Welcome to 328 Pleasant Ave in the heart of Herkimer! This charming 2-story home features 4 spacious bedrooms and 1 full bathroom, offering plenty of room for comfortable living. Centrally located, this property puts you just minutes from local shops, restaurants, schools, and businesses, making everyday errands and activities a breeze. With its classic layout, convenient location, and potential to make it your own, this home is a fantastic opportunity for anyone looking to settle in a friendly neighborhood right in the center of town. Don’t miss your chance to own a home in this desirable location!

Key facts

• Built 1890
• Listed 71 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $366 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $132k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 5.5% in Herkimer — 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 71/100 on livability (#392 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, amenities D+, crime D.
• 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 $15k of equity ($967 loan paydown + $14k 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 $39k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y 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 $36k; list at $140k implies a 289% 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 $131,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 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 D-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. Crime grade is D 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 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: 1.22% ✓
• Cap rate: 9.43%
• Cash-on-cash: 11.22%
• DSCR: 1.50
• GRM: 6.9

CMA / ARV

• ARV (median comp): $114,257
• List price: $139,900
• Delta: 22.44%
• Verdict: OVERPRICED
• 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	0.06mi	3/1.5 (-1)	1,386 (-6%)	12mo	$110,000	$79	70
334 Gray St	0.49mi	4/1.5	1,536 (+4%)	10mo	$201,400	$131	60
344 Eastern Ave	0.07mi	3/2.0 (-1)	1,688 (+15%)	7mo	$150,000	$89	57
111 E German St	0.69mi	3/1.5 (-1)	1,456 (-1%)	3mo	$190,000	$130	57
171 Main Rd	0.63mi	4/1.0	1,568 (+6%)	5mo	$146,000	$93	55
401 Harter St	0.60mi	3/2.0 (-1)	1,520 (+3%)	5mo	$193,000	$127	54
318 Gray St	0.46mi	3/1.0 (-1)	1,316 (-11%)	11mo	$145,500	$111	47
415 N Prospect St	0.67mi	4/2.5	1,608 (+9%)	2mo	$103,000	$64	46
310 E German St	0.66mi	4/1.0	1,624 (+10%)	11mo	$150,000	$92	43
308 West St	0.72mi	4/2.0	1,324 (-10%)	8mo	$214,000	$162	39
101 East St	0.74mi	3/1.0 (-1)	1,350 (-8%)	12mo	$130,000	$96	36
501 Park Ave	0.72mi	5/1.5 (+1)	1,682 (+14%)	7mo	$105,900	$63	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: 32.5%
• Equity multiple: 3.54×
• Total profit: $99,549
• Equity at exit: $126,033

10-year hold

• IRR: 28.1%
• Equity multiple: 8.02×
• Total profit: $274,876
• Equity at exit: $271,795

Cash invested: $39,172 (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: 6.9×

Monthly cashflow live

• Estimated rent: $1,700 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$185 /mo · $2,218/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $366

Break-even live

Break-even rent $1,236

Max offer price $139,900

Occupancy floor 73%

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: $34,975
• Closing costs: $4,197
• 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	0.79mi

Listing history 23 events

1. 2026-06-18
   days on market $139,900 Active 71 DOM
2. 2026-06-17
   days on market $139,900 Active 70 DOM
3. 2026-06-16
   days on market $139,900 Active 69 DOM
4. 2026-06-15
   days on market $139,900 Active 68 DOM
5. 2026-06-13
   days on market $139,900 Active 66 DOM
6. 2026-06-12
   days on market $139,900 Active 65 DOM
7. 2026-06-09
   days on market $139,900 Active 62 DOM
8. 2026-06-08
   days on market $139,900 Active 61 DOM
9. 2026-06-07
   days on market $139,900 Active 60 DOM
10. 2026-06-07
    days on market $139,900 Active 59 DOM
11. 2026-06-04
    days on market $139,900 Active 56 DOM
12. 2026-06-02
    days on market $139,900 Active 55 DOM
13. 2026-06-01
    days on market $139,900 Active 54 DOM
14. 2026-05-31
    days on market $139,900 Active 53 DOM
15. 2026-04-08
    listed $139,900 Active 612-char remark

    Show marketing remark (612 chars)

    Welcome to 328 Pleasant Ave in the heart of Herkimer! This charming 2-story home features 4 spacious bedrooms and 1 full bathroom, offering plenty of room for comfortable living. Centrally located, this property puts you just minutes from local shops, restaurants, schools, and businesses, making everyday errands and activities a breeze. With its classic layout, convenient location, and potential to make it your own, this home is a fantastic opportunity for anyone looking to settle in a friendly neighborhood right in the center of town. Don’t miss your chance to own a home in this desirable location!

16. 2026-01-02
    historical
17. 2025-11-24
    price $134,900
18. 2025-11-04
    price $139,900
19. 2025-09-22
    price $149,900
20. 2025-08-20
    listed $159,900 Active
21. 2018-06-18
    soldstatus $36,000
22. 2016-10-04
    historical
23. 2016-04-26
    listed $35,000

ⓘ 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: $2,218 · $185/mo
• Projected year-2 tax: $2,291 · $191/mo
• Expected delta: +$73/yr (+$6/mo · 3.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°F today · 17 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: −$7,837
• − Property taxes: −$2,218
• − Insurance: −$700
• − Repairs & maintenance: −$1,632
• − Management: −$1,632
• − Depreciation: −$4,070
• Taxable income: $2,312
• Est. tax owed @ 24.0%: −$555
• After-tax cash flow: $3,840/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 — Herkimer

• Score: 71/100
• State rank: #392
• US rank: #6787

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: 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

+299.7% since first listed

9 events — show timeline

• 2026-04-08 Listed $139,900 CNYIS
• 2026-01-02 Listing Removed — CNYIS
• 2025-11-24 Price Changed $134,900 CNYIS
• 2025-11-04 Price Changed $139,900 CNYIS
• 2025-09-22 Price Changed $149,900 CNYIS
• 2025-08-20 Listed $159,900 CNYIS
• 2018-06-18 Sold (Public Records) $36,000 Public Records
• 2016-10-04 Listing Removed — CNYIS
• 2016-04-26 Listed $35,000 CNYIS

Property tax history

+1.4%/yr

Latest (2025): $2,218 · +3.4% YoY. Source: county tax records.