516 2nd Avenue Ext · East Frankfort, NY 13340

$160,000

2 bd · 1.0 ba · 1,394 sqft · SingleFamily public records · 3 Days on market

Built 1899 9,958 sqft lot Est $160k · at est.

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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 +14.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.6/15.0
• 1% rule +4.4/10.0
• DSCR +4.2/10.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• Spacious yard
• Bright and airy den
• Cathedral ceilings

Tags

• CORNER LOT
• SPACIOUS YARD
• BRIGHT AND AIRY DEN
• CATHEDRAL CEILINGS
• DEDICATED LAUNDRY ROOM
• ADDITIONAL STORAGE OPTIONS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $19 ($232/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $150k (6.2% below list).
• Recommended offer: $150k (6.2% below list) — sets the bar for 1% rule.

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 $17k of equity ($1k loan paydown + $16k 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 $45k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1899 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $150,000 (6.2% below list)

Questions for the listing agent

1. Built in 1899 — 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 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: 0.94% ✗
• Cap rate: 6.44%
• Cash-on-cash: 0.52%
• DSCR: 1.02
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $160,310
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
516 2nd Avenue Ext	0.00mi	2/1.0	1,394 (0%)	1mo	$160,000	$115	99
303 Ingham Ave	0.19mi	2/1.0	1,317 (-6%)	4mo	$55,000	$42	78
4184 Acme Rd	0.31mi	3/1.0 (+1)	1,476 (+6%)	11mo	$50,000	$34	62
103 East Ave	0.45mi	3/2.0 (+1)	1,418 (+2%)	7mo	$170,000	$120	61
411 E Canal St	0.33mi	3/1.5 (+1)	1,548 (+11%)	7mo	$222,000	$143	54
126 8th Ave	0.66mi	3/1.5 (+1)	1,408 (+1%)	9mo	$162,000	$115	53
402 Palmer St	0.56mi	3/1.5 (+1)	1,344 (-4%)	10mo	$175,000	$130	53
613 Reese Rd	0.37mi	3/1.5 (+1)	1,344 (-4%)	21mo	$330,000	$246	52
303 Third Ave	0.51mi	3/1.5 (+1)	1,344 (-4%)	19mo	$180,200	$134	48
210 1st Ave	0.68mi	3/1.0 (+1)	1,467 (+5%)	12mo	$165,300	$113	44
303 Palmer St	0.53mi	3/2.0 (+1)	1,317 (-6%)	22mo	$120,000	$91	38
105 Erie St	0.50mi	3/1.0 (+1)	1,597 (+15%)	18mo	$110,000	$69	32

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: 24.7%
• Equity multiple: 2.97×
• Total profit: $88,430
• Equity at exit: $144,141

10-year hold

• IRR: 21.8%
• Equity multiple: 6.79×
• Total profit: $259,562
• Equity at exit: $310,845

Cash invested: $44,800 (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: 8.9×

Monthly cashflow live

• Estimated rent: $1,500 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$260 /mo · $3,120/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $19

Break-even live

Break-even rent $1,476

Max offer price $160,000

Occupancy floor 94%

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: $40,000
• Closing costs: $4,800
• 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	1.29mi

Listing history 2 events

1. 2026-04-02
   status Pending
2. 2026-03-30
   listed $160,000 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: $3,120 · $260/mo
• Projected year-2 tax: $3,120 · $260/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 7 d/yr ≥96°F today · 18 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: −$8,962
• − Property taxes: −$3,120
• − Insurance: −$800
• − Repairs & maintenance: −$1,440
• − Management: −$1,440
• − Depreciation: −$4,655
• Taxable loss: −$2,417
• Est. tax savings @ 24.0%: +$580
• After-tax cash flow: $812/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

2 events — show timeline

• 2026-04-02 Pending — CNYIS
• 2026-03-30 Listed $160,000 CNYIS

Property tax history

+6.7%/yr

Latest (2025): $3,120 · +1.0% YoY. Source: county tax records.