50 Hancock St · Little Falls, NY 13365

$132,500

5 bd · 2.0 ba · 2,167 sqft · MultiFamily public records · 106 Days on market

Built 1900 4,800 sqft lot $61/sqft · 8% above area Est $122k · 8% 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 +3.7/15.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• 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: 2 units. confirmed

Listing remarks MLS

Calling investors! This property is a fantastic opportunity. Beautiful two-family home features a newer roof, vinyl siding, updates in each apartment, beautiful yard, and a 3-stall garage. Property is being sold "as is, as seen".

Key facts

• Newer roof
• Vinyl siding
• 3-stall garage

Tags

• NEWER ROOF
• VINYL SIDING
• UPDATES IN EACH APARTMENT
• 3-STALL GARAGE

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $132k.

Deal economics

• At list price, monthly cash flow is $623 ($7k/yr) — positive. Per door: $311/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $132k).
• Recommended offer: $121k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.9% vs local median 8.0% in Little Falls — 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 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 $14k of equity ($916 loan paydown + $13k 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 $37k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, 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 106 days — a 9% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $7k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $58k; list at $132k implies a 127% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $120,575 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.51% ✓
• Cap rate: 11.93%
• Cash-on-cash: 20.14%
• DSCR: 1.90
• GRM: 5.5

CMA / ARV

• ARV (median comp): $122,256
• List price: $132,500
• Delta: 8.38%
• Verdict: FAIR
• Comps: 18 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
551 E Gansevoort St	0.31mi	4/2.0 (-1)	2,272 (+5%)	8mo	$164,000	$72	65
558 E Monroe St	0.39mi	4/2.0 (-1)	2,314 (+7%)	15mo	$79,900	$35	53
25 Flint Ave	0.48mi	6/2.0 (+1)	1,848 (-15%)	7mo	$155,000	$84	42
15 W Monroe St	0.49mi	4/2.0 (-1)	2,420 (+12%)	13mo	$77,500	$32	42

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: 39.3%
• Equity multiple: 4.02×
• Total profit: $111,879
• Equity at exit: $119,366

10-year hold

• IRR: 33.9%
• Equity multiple: 9.04×
• Total profit: $298,394
• Equity at exit: $257,418

Cash invested: $37,100 (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: 11.0×

Monthly cashflow live

• Estimated rent: $2,004 medium
• Mortgage (P&I): −$695
• Tax from tax record: −$210 /mo · $2,525/yr
• Insurance: −$55
• HOA: −$0
• Vacancy / Maint / Mgmt: −$421
• Net cashflow: $623

Break-even live

Break-even rent $1,216

Max offer price $132,500

Occupancy floor 64%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,004
Total (2 units)			$2,004

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: $33,125
• Closing costs: $3,975
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-18
   days on market $132,500 Active 106 DOM
2. 2026-06-17
   price $132,500 Active 105 DOM
3. 2026-06-17
   days on market $139,500 Active 105 DOM
4. 2026-06-16
   days on market $139,500 Active 104 DOM
5. 2026-06-15
   days on market $139,500 Active 103 DOM
6. 2026-06-13
   days on market $139,500 Active 101 DOM
7. 2026-06-12
   days on market $139,500 Active 100 DOM
8. 2026-06-09
   days on market $139,500 Active 97 DOM
9. 2026-06-08
   days on market $139,500 Active 96 DOM
10. 2026-06-07
    days on market $139,500 Active 95 DOM
11. 2026-06-07
    days on market $139,500 Active 94 DOM
12. 2026-06-04
    days on market $139,500 Active 91 DOM
13. 2026-06-02
    days on market $139,500 Active 90 DOM
14. 2026-06-01
    days on market $139,500 Active 89 DOM
15. 2026-05-31
    days on market $139,500 Active 88 DOM
16. 2026-03-04
    listed $139,500 Active 239-char remark

    Show marketing remark (239 chars)

    Calling investors! This property is a fantastic opportunity. Beautiful two-family home features a newer roof, vinyl siding, updates in each apartment, beautiful yard, and a 3-stall garage. Property is being sold "as is, as seen".

17. 2026-03-02
    historical
18. 2026-02-03
    price $139,500
19. 2025-12-02
    listed $145,000 Active
20. 2025-01-17
    historical
21. 2025-01-16
    price $132,900
22. 2024-09-06
    price $134,900
23. 2024-07-17
    listed $138,900 Active
24. 2023-01-05
    historical
25. 2022-10-24
    price $99,900
26. 2022-09-07
    listed $109,000 Active
27. 2006-10-24
    soldstatus $58,300

ⓘ 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: $2,525 · $210/mo
• Projected year-2 tax: $2,525 · $210/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 3/10 Moderate 8 d/yr ≥95°F today · 18 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: $24,048
• − Mortgage interest: −$7,422
• − Property taxes: −$2,525
• − Insurance: −$662
• − Repairs & maintenance: −$1,924
• − Management: −$1,924
• − Depreciation: −$3,855
• Taxable income: $5,736
• Est. tax owed @ 24.0%: −$1,377
• After-tax cash flow: $6,095/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

+139.3% since first listed

12 events — show timeline

• 2026-03-04 Listed $139,500 CNYIS
• 2026-03-02 Listing Removed — CNYIS
• 2026-02-03 Price Changed $139,500 CNYIS
• 2025-12-02 Listed $145,000 CNYIS
• 2025-01-17 Listing Removed — CNYIS
• 2025-01-16 Price Changed $132,900 CNYIS
• 2024-09-06 Price Changed $134,900 CNYIS
• 2024-07-17 Listed $138,900 CNYIS
• 2023-01-05 Listing Removed — CNYIS
• 2022-10-24 Price Changed $99,900 CNYIS
• 2022-09-07 Listed $109,000 CNYIS
• 2006-10-24 Sold (Public Records) $58,300 Public Records

Property tax history

+1.6%/yr

Latest (2025): $2,525 · +2.0% YoY. Source: county tax records.