336 N Prospect St · Herkimer, NY 13350

$79,900

3 bd · 2.0 ba · 1,809 sqft · MultiFamily public records · 27 Days on market

Built 1900 2,583 sqft lot Est $76k · 5% 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
• ARV discount +5.2/15.0
• Schools +3.9/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

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 two-unit investment opportunity located at 336 N Prospect Street and 121 Church Street in the heart of Herkimer. Offering separate legal addresses and excellent rental potential, this property is ideal for investors looking to expand their portfolio or owner-occupants seeking additional income. The downstairs unit, legally addressed as 121 Church Street, features a spacious 3-bedroom, 1-bathroom layout with its own private driveway, providing convenience and added tenant appeal. Upstairs, the second unit located at 336 N Prospect Street offers a comfortable 1-bedroom, 1-bathroom setup with its own dedicated parking space out front. Both units offer separate living

Key facts

• Private driveway
• 2,583 sq ft lot
• 2 parking spots

Tags

• SEPARATE LEGAL ADDRESSES
• EXCELLENT RENTAL POTENTIAL
• PRIVATE DRIVEWAY
• DEDICATED PARKING SPACE
• SEPARATE LIVING SPACES
• FLEXIBLE LIVING OPTIONS

Property features AI

Finance

• Other: Two total units; Separate gas meters for each unit; Separate electric meters for each unit
• Financial info: Owner pays water; water is included in rent; Operating expense details: see remarks

Exterior

• Parking: On-street parking; Two or more spaces available
• Utilities: Public water connected; Sewer connected
• Home design: 2-story building; Resale property; Vinyl siding exterior; Asphalt roof; Zoned commercial
• Construction: Vinyl siding construction; Asphalt roof; Built existing (year not specified)
• Exterior features: Rectangular residential lot; City street frontage; Porch (on one unit)

Interior

• Kitchen: Oven/Range; Refrigerator; Eat-in kitchen (in one unit); Dining area with kitchen (in the other unit)
• Bedrooms: One 1-bedroom unit; One 3-bedroom unit
• Flooring: Carpet; Vinyl; Varies
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Ceiling fan(s); Full basement
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $80k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $80k).
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• Cap rate 26.5% 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 $9k of equity ($552 loan paydown + $8k 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 $22k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 4.5% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $78,701 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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.
7. 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.
8. 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: 3.32% ✓
• Cap rate: 26.46%
• Cash-on-cash: 72.03%
• DSCR: 4.20
• GRM: 2.5

CMA / ARV

• ARV (on-the-fly): $75,978
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
405 Lansing St	0.41mi	3/2.0	1,760 (-3%)	20mo	$111,500	$63	60
321 King St	0.62mi	4/2.0 (+1)	1,811 (+0%)	11mo	$10,000	$6	57
214 S Washington St	0.44mi	4/2.0 (+1)	1,876 (+4%)	16mo	$79,000	$42	55
226 Folts St	0.30mi	4/3.0 (+1)	2,020 (+12%)	24mo	$125,000	$62	38
215 Perry St	0.57mi	3/2.0	1,600 (-12%)	20mo	$60,000	$38	38

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: 82.8%
• Equity multiple: 6.78×
• Total profit: $129,205
• Equity at exit: $71,980

10-year hold

• IRR: 77.2%
• Equity multiple: 15.02×
• Total profit: $313,550
• Equity at exit: $155,228

Cash invested: $22,372 (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: 3.9×

Monthly cashflow live

• Estimated rent: $2,649 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$298 /mo · $3,571/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$556
• Net cashflow: $1,343

Break-even live

Break-even rent $949

Max offer price $79,900

Occupancy floor 44%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,700
1× unit	1	1	$949
Total (2 units)			$2,649

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5 Walnut St Mohawk, NY	2.0	1.0	1832	$1,350	$0.74	43d	1	1.40mi

Listing history 15 events

1. 2026-06-18
   days on market $79,900 Active 27 DOM
2. 2026-06-17
   days on market $79,900 Active 26 DOM
3. 2026-06-16
   days on market $79,900 Active 25 DOM
4. 2026-06-15
   days on market $79,900 Active 24 DOM
5. 2026-06-13
   days on market $79,900 Active 22 DOM
6. 2026-06-12
   days on market $79,900 Active 21 DOM
7. 2026-06-09
   days on market $79,900 Active 18 DOM
8. 2026-06-08
   days on market $79,900 Active 17 DOM
9. 2026-06-07
   days on market $79,900 Active 16 DOM
10. 2026-06-07
    days on market $79,900 Active 15 DOM
11. 2026-06-04
    days on market $79,900 Active 12 DOM
12. 2026-06-02
    days on market $79,900 Active 11 DOM
13. 2026-06-01
    days on market $79,900 Active 10 DOM
14. 2026-05-31
    days on market $79,900 Active 9 DOM
15. 2026-05-22
    listed $79,900 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: $3,571 · $298/mo
• Projected year-2 tax: $3,571 · $298/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 · 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: $31,788
• − Mortgage interest: −$4,476
• − Property taxes: −$3,571
• − Insurance: −$400
• − Repairs & maintenance: −$2,543
• − Management: −$2,543
• − Depreciation: −$2,324
• Taxable income: $15,932
• Est. tax owed @ 24.0%: −$3,824
• After-tax cash flow: $12,291/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

• 2026-05-22 Listed $79,900 CNYIS

Property tax history

+1.4%/yr

Latest (2025): $3,571 · +3.4% YoY. Source: county tax records.