319 1/2 Pleasant Ave · Herkimer, NY 13350

$84,900

3 bd · 1.0 ba · 1,260 sqft · SingleFamily · 22 Days on market

Built 1890 Fair condition 3,484 sqft lot Est $156k · 46% under

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Why this score? — see what drove the A 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 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

Interior freshly painted and new flooring. Updated kitchen and bath. Relaxing front porch and a low maintenance yard.

Key facts

• Double living room
• Modern bath
• Private yard

Tags

• DOUBLE LIVING ROOM
• SPACIOUS EAT-IN KITCHEN
• MODERN BATH
• UPDATED FLOORING
• PRIVATE YARD

Property features AI

Exterior

• Parking: No garage; Shared driveway
• Utilities: Cable available; Sewer connected (public); Water connected (public)
• Home design: 2 stories; Existing/previously built home
• Construction: Vinyl siding; Architectural shingle roof; Stone foundation
• Exterior features: Blacktop driveway; Open porch

Interior

• Kitchen: Gas oven; Gas range; Refrigerator
• Bedrooms: Total rooms: 6 (includes living and laundry areas)
• Flooring: Carpet; Laminate; Varies
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Gas heating; Hot water heating; Radiator(s)
• Interior features: Ceiling fan(s); Eat-in kitchen; Separate/formal living room; Country kitchen; Thermal windows
• 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 $85k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $756 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $84k (1.5% below list) — sets the bar for market timing.
• Cap rate 17.0% 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 ($587 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 $24k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $52k; list at $85k implies a 63% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $83,626 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1890 — 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. 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 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: 2.00% ✓
• Cap rate: 16.98%
• Cash-on-cash: 38.18%
• DSCR: 2.70
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $156,240
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
309 Eureka Ave	0.07mi	2/1.0 (-1)	1,183 (-6%)	15mo	$105,000	$89	69
352 Eureka Ave	0.10mi	3/1.5	1,386 (+10%)	12mo	$110,000	$79	66
310 Steuben St	0.39mi	3/1.0	1,196 (-5%)	9mo	$148,000	$124	66
318 Gray St	0.42mi	3/1.0	1,316 (+4%)	11mo	$145,500	$111	64
317 S Bellinger St	0.54mi	3/1.5	1,216 (-4%)	5mo	$171,720	$141	63
609 Malcolm St	0.34mi	3/1.0	1,137 (-10%)	7mo	$110,000	$97	62
150 Folts Rd	0.53mi	3/1.5	1,188 (-6%)	10mo	$184,000	$155	55
156 Folts Rd	0.54mi	3/1.5	1,296 (+3%)	17mo	$157,000	$121	54
349 Gray St	0.48mi	2/1.0 (-1)	1,344 (+7%)	13mo	$155,000	$115	51
209 Pullman St	0.32mi	2/1.0 (-1)	1,092 (-13%)	13mo	$152,000	$139	47
308 West St	0.75mi	4/2.0 (+1)	1,324 (+5%)	8mo	$214,000	$162	41
180 Main Rd	0.69mi	3/1.5	1,392 (+10%)	15mo	$180,200	$129	36

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: 53.7%
• Equity multiple: 4.97×
• Total profit: $94,432
• Equity at exit: $76,485

10-year hold

• IRR: 47.3%
• Equity multiple: 11.11×
• Total profit: $240,259
• Equity at exit: $164,942

Cash invested: $23,772 (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: 4.2×

Monthly cashflow live

• Estimated rent: $1,700 medium
• Mortgage (P&I): −$445
• Tax est. 1.5%: −$106 /mo · $1,274/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $756

Break-even live

Break-even rent $743

Max offer price $84,900

Occupancy floor 51%

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: $21,225
• Closing costs: $2,547
• 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	43d	1	0.77mi

Listing history 12 events

1. 2026-06-09
   statusdays on market $84,900 Pending 22 DOM
2. 2026-06-08
   days on market $84,900 Active 21 DOM
3. 2026-06-07
   days on market $84,900 Active 20 DOM
4. 2026-06-07
   days on market $84,900 Active 19 DOM
5. 2026-06-04
   days on market $84,900 Active 16 DOM
6. 2026-06-02
   days on market $84,900 Active 15 DOM
7. 2026-06-01
   days on market $84,900 Active 14 DOM
8. 2026-05-31
   days on market $84,900 Active 13 DOM
9. 2026-05-18
   listed $84,900 Active
10. 2022-08-03
    soldstatus $52,000 Closed 119-char remark

    Show marketing remark (119 chars)

    Interior freshly painted and new flooring. Updated kitchen and bath. Relaxing front porch and a low maintenance yard.

11. 2022-04-21
    historical Contingent 119-char remark

    Show marketing remark (119 chars)

    Interior freshly painted and new flooring. Updated kitchen and bath. Relaxing front porch and a low maintenance yard.

12. 2022-04-14
    listed $52,000 Active 119-char remark

    Show marketing remark (119 chars)

    Interior freshly painted and new flooring. Updated kitchen and bath. Relaxing front porch and a low maintenance yard.

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

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: $20,400
• − Mortgage interest: −$4,756
• − Property taxes: −$1,274
• − Insurance: −$424
• − Repairs & maintenance: −$1,632
• − Management: −$1,632
• − Depreciation: −$2,470
• Taxable income: $8,212
• Est. tax owed @ 24.0%: −$1,971
• After-tax cash flow: $7,104/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 · 1 photo

Fair 45/100 Moderate rehab

This home requires moderate renovations, including painting, landscaping, and updating fixtures and flooring, to significantly increase its resale and rental value.

Repairs flagged

• Minor Paint — Light paint wear on exterior and interior.
• Minor Landscaping — No visible damage, but could be improved for curb appeal.

Value-add opportunities

• Both Paint exterior and interior — Fresh paint enhances curb appeal and interior aesthetics.
• Both Landscaping — Improved landscaping can increase both resale and rental value.
• Both Replace dated kitchen and bath fixtures — Modern fixtures can significantly boost both resale and rental value.
• Both Replace dated flooring — Fresh flooring can enhance both resale and rental value.
• Both Replace dated windows — New windows can improve energy efficiency and curb appeal, boosting both resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint · Light paint wear on exterior and interior.	Minor	$500–3,000
Landscaping · No visible damage, but could be improved for curb appeal.	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint exterior and interior — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Landscaping — Improved landscaping can increase both resale and rental value. ↑
• Both Replace dated kitchen and bath fixtures — Modern fixtures can significantly boost both resale and rental value. ↑
• Both Replace dated flooring — Fresh flooring can enhance both resale and rental value. ↑
• Both Replace dated windows — New windows can improve energy efficiency and curb appeal, boosting both resale and rental 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

+63.3% since first listed

4 events — show timeline

• 2026-05-18 Listed $84,900 CNYIS
• 2022-08-03 Sold (MLS) $52,000 Global MLS
• 2022-04-21 Contingent — Global MLS
• 2022-04-14 Listed $52,000 Global MLS