810 Steuben Rd · Herkimer, NY 13350

$214,900

3 bd · 1.0 ba · 1,364 sqft · SingleFamily public records · 12 Days on market

Built 1956 0.42 ac lot Est $173k · 24% over

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Why this score? — see what drove the F 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).

• Appreciation +10.0/10.0
• Cash flow +7.7/30.0
• Schools +3.9/10.0
• Livability +3.6/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0
• ARV discount +0.0/15.0

Listing remarks

A Ranch goes on the market in Herkimer. Yes you heard that right and its priced under $220K too!!!! 3 Bedroom/ 1 Bathroom. Updated Kitchen with Island . Hardwoods. Large yard- cement patio in back. Newer Roof. Attached garage and walkout basement. Just so much more New since 2021 Water Heater 2021 Kitchen Counters 2021 Roof - 2022 Landscaping out front - retaining wall and cement pad in back- 2023 Sewer line from home to street- 2025

Key facts

• Walkout basement
• Newer roof
• Water heater

Tags

• UPDATED KITCHEN
• LARGE YARD
• NEWER ROOF
• WALKOUT BASEMENT
• WATER HEATER
• KITCHEN COUNTERS

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water connected; Sewer connected
• Home design: Single-story home; Resale property; Asphalt roof
• Construction: Aluminum siding; Block foundation
• Exterior features: Blacktop driveway; Patio; Irregular lot dimensions (120 x 153)

Interior

• Kitchen: Dishwasher; Electric cooktop; Refrigerator
• Bedrooms: Three main-level bedrooms; Primary bedroom on the main level
• Flooring: Hardwood; Vinyl; Varies
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Gas heating; Baseboard heating; Hot water/radiator heating
• Interior features: Eat-in kitchen; Kitchen island; Main-level primary bedroom; Bedroom on main level; Full walk-out basement
• Laundry & utility: Laundry in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $-248 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $171k (20.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (20.9% below list).
• Recommended offer: $170k (20.9% below list) — sets the bar for 1% rule.

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: amenities D+, crime D, employment 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.
• Zoned schools: Herkimer Elementary School (math 51% / reading 48%, grade D, #1,085 of 2,108 statewide, top 56%, 517 students, 71% FRL); Herkimer High School (math 44% / reading 48%, grade D-, #1,023 of 1,100 statewide, top 93%, 579 students, 61% FRL) — zoned schools average 66% FRL vs 46% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 57 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 $23k of equity ($1k loan paydown + $21k 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.
• By year 2, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $170,000 (20.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.79% ✗
• Cap rate: 4.91%
• Cash-on-cash: -4.95%
• DSCR: 0.78
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $173,228
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
934 Highland Ave	0.22mi	3/1.0	1,386 (+2%)	15mo	$184,900	$133	75
302 W German St	0.42mi	3/1.5	1,318 (-3%)	2mo	$195,000	$148	71
111 E German St	0.33mi	3/1.5	1,456 (+7%)	3mo	$190,000	$130	69
25 Dayton Pl	0.10mi	2/1.0 (-1)	1,250 (-8%)	18mo	$170,000	$136	62
613 W German St	0.61mi	4/1.0 (+1)	1,400 (+3%)	1mo	$172,670	$123	61
318 Gray St	0.51mi	3/1.0	1,316 (-4%)	11mo	$145,500	$111	61
349 Gray St	0.46mi	2/1.0 (-1)	1,344 (-2%)	13mo	$155,000	$115	60
401 Harter St	0.38mi	3/2.0	1,520 (+11%)	5mo	$193,000	$127	56
421 E German St	0.26mi	3/2.0	1,520 (+11%)	20mo	$170,000	$112	49
310 Steuben St	0.54mi	3/1.0	1,196 (-12%)	9mo	$148,000	$124	47
334 Gray St	0.48mi	4/1.5 (+1)	1,536 (+13%)	10mo	$201,400	$131	42
227 Esther St	0.73mi	2/1.0 (-1)	1,406 (+3%)	19mo	$64,000	$46	40

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: 20.8%
• Equity multiple: 2.68×
• Total profit: $101,322
• Equity at exit: $193,599

10-year hold

• IRR: 18.9%
• Equity multiple: 6.17×
• Total profit: $310,990
• Equity at exit: $417,503

Cash invested: $60,172 (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: 57
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,700 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$375 /mo · $4,497/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $-248

Break-even live

Break-even rent $2,014

Max offer price $171,052

Occupancy floor —

Sensitivity live

Price	-10% $-127	-5% $-187	+0% $-248	+5% $-309	+10% $-370
Rent	-10% $-383	-5% $-315	+0% $-248	+5% $-181	+10% $-114
Rate	-1.0pp $-140	-0.5pp $-194	base $-248	+0.5pp $-304	+1.0pp $-361

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: $53,725
• Closing costs: $6,447
• 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	45d	1	0.26mi

Listing history 10 events

1. 2026-06-21
   days on market $214,900 Active 12 DOM
2. 2026-06-21
   days on market $214,900 Active 11 DOM
3. 2026-06-18
   days on market $214,900 Active 9 DOM
4. 2026-06-17
   days on market $214,900 Active 8 DOM
5. 2026-06-16
   days on market $214,900 Active 7 DOM
6. 2026-06-15
   days on market $214,900 Active 6 DOM
7. 2026-06-13
   days on market $214,900 Active 4 DOM
8. 2026-06-12
   days on market $214,900 Active 3 DOM
9. 2026-06-09
   remarks 449-char remark
10. 2026-06-09
    listed $214,900 Active 1 DOM

ⓘ 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: $4,497 · $375/mo
• Projected year-2 tax: $4,497 · $375/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°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: −$12,038
• − Property taxes: −$4,497
• − Insurance: −$1,074
• − Repairs & maintenance: −$1,632
• − Management: −$1,632
• − Depreciation: −$6,252
• Taxable loss: −$6,724
• Est. tax savings @ 24.0%: +$1,614
• After-tax cash flow: $-1,365/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

1 event — show timeline

• 2026-06-09 Listed $214,900 CNYIS

Property tax history

+3.1%/yr

Latest (2025): $4,497 · +3.4% YoY. Source: county tax records.