59 Church St · Little Falls, NY 13365

$95,000

3 bd · 2.0 ba · 2,024 sqft · MultiFamily public records · 21 Days on market

Built 1889 5,386 sqft lot Est $71k · 34% over ↓ 3% since listing

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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 +28.2/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.4/10.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Welcome to this versatile property, currently used as a single-family home but designed as a two-family residence. For the past 40 years, it has been enjoyed as a spacious single-family, offering plenty of possibilities. Investors can easily convert it back to a two-family with flexible bedroom configurations, or it can be transformed into a large single-family home with multiple living areas. Features include a two-stall garage, a charming enclosed front porch, and two enclosed rear porches. A new electrical entrance and new hot water heater have been recently installed. Conveniently located within walking distance to downtown Little Falls, Canal Place, and Western Park, this well-built ho

Key facts

• Two-family residence
• New hot water heater
• Enclosed front porch

Tags

• TWO-FAMILY RESIDENCE
• ENCLOSED FRONT PORCH
• ENCLOSED REAR PORCHES
• NEW ELECTRICAL ENTRANCE
• NEW HOT WATER HEATER
• WALKING DISTANCE TO DOWNTOWN

Property features AI

Finance

• Other: Two total units in the building; Separate single gas meter for property; Separate single electric meter for property
• Financial info: Operating expense details: See remarks; Owner pays / rent includes: See remarks

Exterior

• Parking: 2-car garage; Paved parking; Common parking areas
• Utilities: Public water (connected); Sewer connected; Cable available; Circuit breaker electric
• Home design: 2-story building; Existing construction; Flat roof
• Construction: Wood siding; Stone foundation
• Exterior features: Rectangular residential lot with 39 x 140 dimensions; City street frontage

Interior

• Kitchen: No kitchen appliance list provided
• Bedrooms: Two-unit property (unit-specific bedroom details not provided)
• Flooring: Hardwood; Varies
• Bathrooms: 2 full bathrooms (total for property)
• Heating & cooling: Gas forced-air heating
• Interior features: Hardwood and varied flooring; Full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $95k.

Deal economics

• At list price, monthly cash flow is $302 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $94k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 8.0% in Little Falls — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: schools C-, amenities F, commute F.
• Little Falls City School District (rural): math 37% / reading 49% proficiency, ranked #492 of 590 in NY (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• 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 $10k of equity ($657 loan paydown + $10k 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 $27k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1889 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $93,575 (1.5% below list)

Questions for the listing agent

1. Built in 1889 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.34% ✓
• Cap rate: 10.11%
• Cash-on-cash: 13.64%
• DSCR: 1.61
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $70,840
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
551 E Gansevoort St	0.29mi	4/2.0 (+1)	2,272 (+12%)	8mo	$164,000	$72	54
558 E Monroe St	0.34mi	4/2.0 (+1)	2,314 (+14%)	15mo	$79,900	$35	42
37 Porteus St	0.72mi	3/3.0	2,220 (+10%)	13mo	$25,000	$11	35

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: 34.3%
• Equity multiple: 3.67×
• Total profit: $71,050
• Equity at exit: $85,584

10-year hold

• IRR: 29.6%
• Equity multiple: 8.30×
• Total profit: $194,176
• Equity at exit: $184,564

Cash invested: $26,600 (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: 6.2×

Monthly cashflow live

• Estimated rent: $1,271 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$164 /mo · $1,967/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $302

Break-even live

Break-even rent $888

Max offer price $95,000

Occupancy floor 71%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $95,000 Active 21 DOM
2. 2026-06-17
   days on market $95,000 Active 20 DOM
3. 2026-06-16
   days on market $95,000 Active 19 DOM
4. 2026-06-15
   days on market $95,000 Active 18 DOM
5. 2026-06-13
   days on market $95,000 Active 16 DOM
6. 2026-06-12
   days on market $95,000 Active 15 DOM
7. 2026-06-09
   days on market $95,000 Active 12 DOM
8. 2026-06-08
   days on market $95,000 Active 11 DOM
9. 2026-06-07
   days on market $95,000 Active 10 DOM
10. 2026-06-07
    days on market $95,000 Active 9 DOM
11. 2026-06-04
    days on market $95,000 Active 6 DOM
12. 2026-06-02
    days on market $95,000 Active 5 DOM
13. 2026-06-01
    days on market $95,000 Active 4 DOM
14. 2026-05-31
    days on market $95,000 Active 3 DOM
15. 2026-05-28
    listed $95,000 Active
16. 2025-11-05
    historical Active Under Contract
17. 2025-11-05
    historical Active Under Contract
18. 2025-10-10
    listed $98,000 Active
19. 2025-10-10
    listed $98,000 Active

ⓘ 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: $1,967 · $164/mo
• Projected year-2 tax: $1,967 · $164/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥95°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: $15,253
• − Mortgage interest: −$5,321
• − Property taxes: −$1,967
• − Insurance: −$475
• − Repairs & maintenance: −$1,220
• − Management: −$1,220
• − Depreciation: −$2,764
• Taxable income: $2,285
• Est. tax owed @ 24.0%: −$548
• After-tax cash flow: $3,081/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: Little Falls City School District
• NCES district ID: 3617460
• Math proficiency: 37% ▼ -10.00%
• Reading proficiency: 49% ▲ 7.00%
• Median HH income: $42,445
• Composite: 36.22/100
• National rank: #4724
• State rank: #492 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

• Census place: Little Falls, NY
• 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

-3.1% since first listed

5 events — show timeline

• 2026-05-28 Listed $95,000 CNYIS
• 2025-11-05 Contingent — CNYIS
• 2025-11-05 Contingent — CNYIS
• 2025-10-10 Listed $98,000 CNYIS
• 2025-10-10 Listed $98,000 CNYIS

Property tax history

+21.4%/yr

Latest (2025): $1,967 · +2.1% YoY. Source: county tax records.