129 Depot Rd · Little Falls, NY 13365

$34,900

2 bd · 1.0 ba · 1,570 sqft · SingleFamily public records · 98 Days on market

Built 1850 0.76 ac lot Est $25k · 39% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +3.5/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

Discover the potential in this 3-bedroom, 1-bath investment property situated on a quiet dead-end street. Featuring both side and back porches, this home offers a flexible layout with a formal living room, dining room, and kitchen on the first floor. An additional room on the main level provides the opportunity to create a family room, office, or even a fourth bedroom. The property does require renovations and currently has no heating system in place, though it was previously heated. With the right vision and updates, this home could be transformed into a great rental or resale opportunity. Located in a peaceful neighborhood, this property is being * * SOLD AS IS * * — perfect for investors or savvy buyers looking to add value.

Key facts

• 0.76 acre lot
• 2 garage spots
• Built 1850

Property features AI

Exterior

• Parking: Detached garage; 2-car garage
• Utilities: Well water; Septic tank
• Home design: 2-story home; Existing structure
• Construction: Wood siding; Stone foundation
• Exterior features: Blacktop driveway; Irregular lot; Agricultural lot characteristics; Lot dimensions approximately 330 x 100

Interior

• Flooring: Hardwood; Laminate; Varies
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Heating details available in remarks
• Interior features: Hardwood and laminate flooring with varied surfaces; Partial basement; Additional interior features noted (see remarks)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $650 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $32k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#440 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Oppenheim-Ephratah-St. Johnsville CSD (rural): math 30% / reading 52% proficiency, ranked #522 of 590 in NY (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Oppenheim-Ephratah-St Johnsville Elementary School (math 27% / reading 57%, 391 students, 54% FRL); Oppenheim-Ephratah-St Johnsville Junior/Senior High School (math 32% / reading 47%, grade F, #1,060 of 1,100 statewide, top 97%, 361 students, 49% FRL) — zoned schools at 52% FRL track the district average.
• Market conditions: 66 active listings in the ZIP; 54 units permitted in Herkimer County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($241 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 $10k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($32k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 20y 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 $25k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1850 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $31,759 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 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 1850 — 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: 3.23% ✓
• Cap rate: 28.65%
• Cash-on-cash: 79.84%
• DSCR: 4.55
• GRM: 2.6

CMA / ARV

• ARV (on-the-fly): $25,120
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
129 Depot Rd	0.00mi	3/1.0 (+1)	1,570 (0%)	8mo	$25,000	$16	88

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: 89.8%
• Equity multiple: 7.18×
• Total profit: $60,432
• Equity at exit: $31,441

10-year hold

• IRR: 84.6%
• Equity multiple: 15.88×
• Total profit: $145,434
• Equity at exit: $67,803

Cash invested: $9,772 (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 13365

• Home prices YoY: 9.9%
• Active inventory: 66
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,128 medium
• Mortgage (P&I): −$183
• Tax est. 1.5%: −$44 /mo · $524/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $650

Break-even live

Break-even rent $305

Max offer price $34,900

Occupancy floor 37%

Sensitivity live

Price	-10% $674	-5% $662	+0% $650	+5% $638	+10% $626
Rent	-10% $561	-5% $606	+0% $650	+5% $695	+10% $739
Rate	-1.0pp $668	-0.5pp $659	base $650	+0.5pp $641	+1.0pp $632

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: $8,725
• Closing costs: $1,047
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-05-31
   days on market $34,900 Active 98 DOM
2. 2026-05-21
   status Active
3. 2026-02-16
   status Pending
4. 2025-11-20
   status Active
5. 2025-11-20
   status Active
6. 2025-11-20
   listed $34,900 Active
7. 2025-10-14
   soldstatus $25,000 Closed 747-char remark

   Show marketing remark (747 chars)

   Discover the potential in this 3-bedroom, 1-bath investment property situated on a quiet dead-end street. Featuring both side and back porches, this home offers a flexible layout with a formal living room, dining room, and kitchen on the first floor. An additional room on the main level provides the opportunity to create a family room, office, or even a fourth bedroom. The property does require renovations and currently has no heating system in place, though it was previously heated. With the right vision and updates, this home could be transformed into a great rental or resale opportunity. Located in a peaceful neighborhood, this property is being * * SOLD AS IS * * — perfect for investors or savvy buyers looking to add value.

8. 2025-08-18
   status Pending 747-char remark

   Show marketing remark (747 chars)

   Discover the potential in this 3-bedroom, 1-bath investment property situated on a quiet dead-end street. Featuring both side and back porches, this home offers a flexible layout with a formal living room, dining room, and kitchen on the first floor. An additional room on the main level provides the opportunity to create a family room, office, or even a fourth bedroom. The property does require renovations and currently has no heating system in place, though it was previously heated. With the right vision and updates, this home could be transformed into a great rental or resale opportunity. Located in a peaceful neighborhood, this property is being * * SOLD AS IS * * — perfect for investors or savvy buyers looking to add value.

9. 2025-07-30
   price $37,000 747-char remark

   Show marketing remark (747 chars)

   Discover the potential in this 3-bedroom, 1-bath investment property situated on a quiet dead-end street. Featuring both side and back porches, this home offers a flexible layout with a formal living room, dining room, and kitchen on the first floor. An additional room on the main level provides the opportunity to create a family room, office, or even a fourth bedroom. The property does require renovations and currently has no heating system in place, though it was previously heated. With the right vision and updates, this home could be transformed into a great rental or resale opportunity. Located in a peaceful neighborhood, this property is being * * SOLD AS IS * * — perfect for investors or savvy buyers looking to add value.

10. 2025-05-28
    listed $42,000 Active 747-char remark

    Show marketing remark (747 chars)

    Discover the potential in this 3-bedroom, 1-bath investment property situated on a quiet dead-end street. Featuring both side and back porches, this home offers a flexible layout with a formal living room, dining room, and kitchen on the first floor. An additional room on the main level provides the opportunity to create a family room, office, or even a fourth bedroom. The property does require renovations and currently has no heating system in place, though it was previously heated. With the right vision and updates, this home could be transformed into a great rental or resale opportunity. Located in a peaceful neighborhood, this property is being * * SOLD AS IS * * — perfect for investors or savvy buyers looking to add value.

11. 2007-05-22
    soldstatus $25,000 135-char remark

    Show marketing remark (135 chars)

    BARN, OUTBUILDINGS, PORCH. CHARMING 1812 FARM HOUSE CLOSE TO EXIT 29A ON NYS THRUWAY LITTLE FALLS. NEEDS WORK. SOLD "AS IS"

12. 2006-10-13
    listed $29,900 135-char remark

    Show marketing remark (135 chars)

    BARN, OUTBUILDINGS, PORCH. CHARMING 1812 FARM HOUSE CLOSE TO EXIT 29A ON NYS THRUWAY LITTLE FALLS. NEEDS WORK. SOLD "AS IS"

13. 2006-09-20
    historical
14. 2006-04-22
    listed $99,900
15. 2004-01-09
    soldstatus $52,000
16. 2000-10-30
    soldstatus $20,600

ⓘ 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 6/10 Major FEMA zone X · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $13,539
• − Mortgage interest: −$1,955
• − Property taxes: −$524
• − Insurance: −$174
• − Repairs & maintenance: −$1,083
• − Management: −$1,083
• − Depreciation: −$1,015
• Taxable income: $7,705
• Est. tax owed @ 24.0%: −$1,849
• After-tax cash flow: $5,953/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: Oppenheim-Ephratah-St. Johnsville CSD
• NCES district ID: 3601107
• Math proficiency: 30% ▼ -18.00%
• Reading proficiency: 52% ▲ 7.00%
• Median HH income: $39,730
• Composite: 34.25/100
• National rank: #5253
• State rank: #522 of 590 in NY

Livability — Little Falls

• Score: 70/100
• State rank: #440
• US rank: #7681

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 8,545

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 (92%)
• Race & ethnicity: White 92% Hispanic / Latino 5% Two or more races 4%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 8% Lithuanian 3% Polish 2%
• Foreign-born: 1%
• Languages at home: 95% English-only · German/W. Germanic 3% Spanish 2% Other Indo-European 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: ▲ 27.04%
• Current HPI: 300.9696
• 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

+69.4% since first listed

15 events — show timeline

• 2026-05-21 Relisted — CNYIS
• 2026-02-16 Pending — CNYIS
• 2025-11-20 Relisted — CNYIS
• 2025-11-20 Relisted — CNYIS
• 2025-11-20 Listed $34,900 CNYIS
• 2025-10-14 Sold (MLS) $25,000 CNYIS
• 2025-08-18 Pending — CNYIS
• 2025-07-30 Price Changed $37,000 CNYIS
• 2025-05-28 Listed $42,000 CNYIS
• 2007-05-22 Sold (MLS) $25,000 CNYIS
• 2006-10-13 Listed $29,900 CNYIS
• 2006-09-20 Listing Removed — CNYIS
• 2006-04-22 Listed $99,900 CNYIS
• 2004-01-09 Sold (Public Records) $52,000 Public Records
• 2000-10-30 Sold (Public Records) $20,600 Public Records

Property tax history

+4.9%/yr

Latest (2025): $1,921 · -0.0% YoY. Source: county tax records.