109-111 Green St · Herkimer, NY 13350

$124,500

4 bd · 3.0 ba · 9,250 sqft · SingleFamily · 336 Days on market

Built 1919 Fair condition 5,227 sqft lot

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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 +26.7/30.0
• Appreciation +10.0/10.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Schools +3.9/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks MLS

Located in downtown Herkimer, this mixed-use property spans 9,250 sq ft with flexible spaces across two levels. Ground-floor storefront offers excellent street presence, presenting abundant possibilities for a variety of uses; upper floor provides versatile space with easy access. Connected to municipal water and sewer. Conveniently located close to local amenities. 109-111 Green St Herkimer are both being sold.

Key facts

• 5,227 sq ft lot
• 6 parking spots
• Built 1919

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $124k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $339 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $124k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.6% 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: 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; 54 units permitted in Herkimer County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($861 loan paydown + $12k 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 $35k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 336 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $76k (38%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 336 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1919 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.22% ✓
• Cap rate: 9.56%
• Cash-on-cash: 11.66%
• DSCR: 1.52
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 32.8%
• Equity multiple: 3.56×
• Total profit: $89,405
• Equity at exit: $112,159

10-year hold

• IRR: 28.3%
• Equity multiple: 8.07×
• Total profit: $246,360
• Equity at exit: $241,876

Cash invested: $34,860 (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: 6.8×

Monthly cashflow live

• Estimated rent: $1,518 medium
• Mortgage (P&I): −$653
• Tax est. 1.5%: −$156 /mo · $1,868/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $339

Break-even live

Break-even rent $1,089

Max offer price $124,500

Occupancy floor 73%

Sensitivity live

Price	-10% $425	-5% $382	+0% $339	+5% $296	+10% $253
Rent	-10% $219	-5% $279	+0% $339	+5% $399	+10% $459
Rate	-1.0pp $401	-0.5pp $370	base $339	+0.5pp $306	+1.0pp $274

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: $31,125
• Closing costs: $3,735
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-21
   days on market $124,500 Active 336 DOM
2. 2026-06-21
   days on market $124,500 Active 335 DOM
3. 2026-06-18
   days on market $124,500 Active 333 DOM
4. 2026-06-17
   days on market $124,500 Active 332 DOM
5. 2026-06-16
   days on market $124,500 Active 331 DOM
6. 2026-06-15
   days on market $124,500 Active 330 DOM
7. 2026-06-13
   days on market $124,500 Active 328 DOM
8. 2026-06-12
   days on market $124,500 Active 327 DOM
9. 2026-06-09
   days on market $124,500 Active 324 DOM
10. 2026-06-08
    days on market $124,500 Active 323 DOM
11. 2026-06-07
    days on market $124,500 Active 322 DOM
12. 2026-06-07
    days on market $124,500 Active 321 DOM
13. 2026-06-04
    days on market $124,500 Active 318 DOM
14. 2026-06-02
    days on market $124,500 Active 317 DOM
15. 2026-06-01
    days on market $124,500 Active 316 DOM
16. 2026-05-31
    days on market $124,500 Active 315 DOM
17. 2025-10-28
    price $124,500 415-char remark

    Show marketing remark (415 chars)

    Located in downtown Herkimer, this mixed-use property spans 9,250 sq ft with flexible spaces across two levels. Ground-floor storefront offers excellent street presence, presenting abundant possibilities for a variety of uses; upper floor provides versatile space with easy access. Connected to municipal water and sewer. Conveniently located close to local amenities. 109-111 Green St Herkimer are both being sold.

18. 2025-09-09
    price $167,900 415-char remark

    Show marketing remark (415 chars)

    Located in downtown Herkimer, this mixed-use property spans 9,250 sq ft with flexible spaces across two levels. Ground-floor storefront offers excellent street presence, presenting abundant possibilities for a variety of uses; upper floor provides versatile space with easy access. Connected to municipal water and sewer. Conveniently located close to local amenities. 109-111 Green St Herkimer are both being sold.

19. 2025-07-20
    listed $200,000 Active 415-char remark

    Show marketing remark (415 chars)

    Located in downtown Herkimer, this mixed-use property spans 9,250 sq ft with flexible spaces across two levels. Ground-floor storefront offers excellent street presence, presenting abundant possibilities for a variety of uses; upper floor provides versatile space with easy access. Connected to municipal water and sewer. Conveniently located close to local amenities. 109-111 Green St Herkimer are both being sold.

20. 2025-06-30
    historical
21. 2025-01-29
    price $277,777
22. 2025-01-28
    listed $325,000 Active
23. 2025-01-27
    historical
24. 2024-11-25
    price $325,000
25. 2024-10-24
    listed $600,000 Active
26. 2024-10-18
    historical
27. 2024-07-18
    listed $600,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $18,215
• − Mortgage interest: −$6,974
• − Property taxes: −$1,868
• − Insurance: −$622
• − Repairs & maintenance: −$1,457
• − Management: −$1,457
• − Depreciation: −$3,622
• Taxable income: $2,215
• Est. tax owed @ 24.0%: −$532
• After-tax cash flow: $3,534/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

A mixed-use property in fair condition with moderate rehabilitation needs. Exterior and interior paint, landscaping, and HVAC upgrades would significantly enhance its value.

Repairs flagged

• Major exterior paint — Significant discoloration and wear
• Major interior paint — Significant wear and tear
• Major landscaping — Overgrown vegetation

Value-add opportunities

• Resale exterior paint job — Enhances curb appeal and property value
• Rental HVAC system upgrade — Improves tenant comfort and reduces maintenance costs
• Both landscaping — Enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior paint · Significant discoloration and wear	Major	$15,000–50,000
interior paint · Significant wear and tear	Major	$15,000–50,000
landscaping · Overgrown vegetation	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Resale exterior paint job — Enhances curb appeal and property value ↑
• Rental HVAC system upgrade — Improves tenant comfort and reduces maintenance costs ↑
• Both landscaping — Enhances curb appeal and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-79.2% since first listed

11 events — show timeline

• 2025-10-28 Price Changed $124,500 Global MLS
• 2025-09-09 Price Changed $167,900 Global MLS
• 2025-07-20 Listed $200,000 Global MLS
• 2025-06-30 Listing Removed — Global MLS
• 2025-01-29 Price Changed $277,777 Global MLS
• 2025-01-28 Listed $325,000 Global MLS
• 2025-01-27 Listing Removed — Global MLS
• 2024-11-25 Price Changed $325,000 Global MLS
• 2024-10-24 Listed $600,000 Global MLS
• 2024-10-18 Listing Removed — Global MLS
• 2024-07-18 Listed $600,000 Global MLS