202 Comstock Ave · East Frankfort, NY 13340

$150,000

2 bd · 2.0 ba · 1,053 sqft · Manufactured public records · 30 Days on market

Built 2015

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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 +19.1/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• 1% rule +5.0/10.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This charming two-bedroom home offers a comfortable and convenient living in a tranquil setting, just outside the village of Frankfort. The open concept layout features a spacious living room, perfect for relaxing or entertaining guests. The kitchen is well equipped & features ample countertop space for meal prep. Both bedrooms are spacious and include large closets with lots of storage.

Key facts

• Private bath
• Cathedral ceilings
• Storage shed

Tags

• CATHEDRAL CEILINGS
• PRIVATE BATH
• NEWLY SEALED DRIVEWAY
• STORAGE SHED
• ENCLOSED FRONT PORCH

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $150k.

Deal economics

• At list price, monthly cash flow is $158 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $148k (1.5% 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.
• Frankfort-Schuyler Central School District (town): math 32% / reading 45% proficiency, ranked #538 of 590 in NY (top 91%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 40 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 $16k of equity ($1k loan paydown + $15k 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 $42k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 11y 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 $125k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $147,750 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.00% ✓
• Cap rate: 7.56%
• Cash-on-cash: 4.53%
• DSCR: 1.20
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $44,226
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
202 Comstock Ave	0.00mi	2/2.0	1,053 (0%)	1mo	$152,300	$145	99
844 Cinko Dr	0.33mi	2/2.0	1,001 (-5%)	17mo	$42,500	$42	62
313 Willow Dr	0.50mi	3/2.0 (+1)	1,050 (-0%)	19mo	$40,000	$38	55

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: 27.6%
• Equity multiple: 3.19×
• Total profit: $91,804
• Equity at exit: $135,132

10-year hold

• IRR: 24.1%
• Equity multiple: 7.25×
• Total profit: $262,442
• Equity at exit: $291,417

Cash invested: $42,000 (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 13340

• Home prices YoY: 8.1%
• Active inventory: 40
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,500 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$177 /mo · $2,129/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $158

Break-even live

Break-even rent $1,299

Max offer price $150,000

Occupancy floor 84%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
149 W North St Ilion, NY	3.0	1.0	1056	$1,500	$1.42	44d	1	1.27mi

Listing history 15 events

1. 2026-03-12
   status Pending
2. 2026-02-10
   listed $150,000 Active
3. 2025-10-21
   listed $150,000 Active
4. 2024-08-19
   soldstatus $125,000 Closed 396-char remark

   Show marketing remark (396 chars)

   This charming two-bedroom home offers a comfortable and convenient living in a tranquil setting, just outside the village of Frankfort. The open concept layout features a spacious living room, perfect for relaxing or entertaining guests. The kitchen is well equipped & features ample countertop space for meal prep. Both bedrooms are spacious and include large closets with lots of storage.

5. 2024-07-16
   status Pending 396-char remark

   Show marketing remark (396 chars)

   This charming two-bedroom home offers a comfortable and convenient living in a tranquil setting, just outside the village of Frankfort. The open concept layout features a spacious living room, perfect for relaxing or entertaining guests. The kitchen is well equipped & features ample countertop space for meal prep. Both bedrooms are spacious and include large closets with lots of storage.

6. 2024-05-29
   listed $135,000 Active 396-char remark

   Show marketing remark (396 chars)

   This charming two-bedroom home offers a comfortable and convenient living in a tranquil setting, just outside the village of Frankfort. The open concept layout features a spacious living room, perfect for relaxing or entertaining guests. The kitchen is well equipped & features ample countertop space for meal prep. Both bedrooms are spacious and include large closets with lots of storage.

7. 2024-05-29
   historical

   Show marketing remark (396 chars)

   This charming two-bedroom home offers a comfortable and convenient living in a tranquil setting, just outside the village of Frankfort. The open concept layout features a spacious living room, perfect for relaxing or entertaining guests. The kitchen is well equipped & features ample countertop space for meal prep. Both bedrooms are spacious and include large closets with lots of storage.

8. 2024-03-27
   price $150,000
9. 2024-03-25
   listed $144,000 Active
10. 2016-04-21
    soldstatus $79,000
11. 2016-04-19
    soldstatus $79,000
12. 2015-08-14
    listed $89,900
13. 2015-08-09
    historical
14. 2015-02-09
    listed $129,000
15. 2014-09-11
    soldstatus $14,000

ⓘ 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: $2,129 · $177/mo
• Projected year-2 tax: $2,332 · $194/mo
• Expected delta: +$203/yr (+$17/mo · 9.5%)

ⓘ 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 3/10 Moderate 7 d/yr ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,000
• − Mortgage interest: −$8,402
• − Property taxes: −$2,129
• − Insurance: −$750
• − Repairs & maintenance: −$1,440
• − Management: −$1,440
• − Depreciation: −$4,364
• Taxable loss: −$525
• Est. tax savings @ 24.0%: +$126
• After-tax cash flow: $2,028/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: Frankfort-Schuyler Central School District
• NCES district ID: 3611400
• Math proficiency: 32% ▼ -12.00%
• Reading proficiency: 45% ▲ 3.00%
• Median HH income: $46,499
• Composite: 32.87/100
• National rank: #5610
• State rank: #538 of 590 in NY

Livability — East Frankfort

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

Census & demographics

• Population (ZIP): 7,322

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 (91%)
• Race & ethnicity: White 91% Two or more races 4% Black 2% Hispanic / Latino 1%
• Common ancestry: Romanian 7% Lithuanian 3% American 2%
• Foreign-born: 8% · Canada
• Languages at home: 90% English-only · Russian/Polish/Slavic 6% Other Indo-European 2% 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: ▲ 25.15%
• Current HPI: 336.077
• 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

+971.4% since first listed

15 events — show timeline

• 2026-03-12 Pending — CNYIS
• 2026-02-10 Listed $150,000 CNYIS
• 2025-10-21 Listed $150,000 CNYIS
• 2024-08-19 Sold (MLS) $125,000 CNYIS
• 2024-07-16 Pending — CNYIS
• 2024-05-29 Listing Removed — CNYIS
• 2024-05-29 Listed $135,000 CNYIS
• 2024-03-27 Price Changed $150,000 CNYIS
• 2024-03-25 Listed $144,000 CNYIS
• 2016-04-21 Sold (Public Records) $79,000 Public Records
• 2016-04-19 Sold (MLS) $79,000 CNYIS
• 2015-08-14 Listed $89,900 CNYIS
• 2015-08-09 Listing Removed — CNYIS
• 2015-02-09 Listed $129,000 CNYIS
• 2014-09-11 Sold (Public Records) $14,000 Public Records

Property tax history

+7.2%/yr

Latest (2025): $2,129 · -13.5% YoY. Source: county tax records.