216 Loomis St · Little Falls, NY 13365

$24,900

3 bd · 2.0 ba · 1,694 sqft · MultiFamily public records · 5 Days on market

Built 1904 8,300 sqft lot ↓ 58% since listing

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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 +15.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

This house has the best bones! Use it as a two family or easily convert it to a one family. Big, bright and sunny rooms, newer windows and furnace. There are two kitchens in the house, so the way it's set up right now there is a 2 bedroom apartment downstairs and a one bedroom apartment upstairs. Pretty view of wooded back yard from each flat. Take out the upstairs kitchen and you'll have a nice 4 bedroom, 2 bath single family home. This home has so much potential. It is located in a nice neighborhood, just a block from Vetran's Park.

Key facts

• 8,300 sq ft lot
• Built 1904
• Listed 5 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water connected; Sewer connected
• Home design: 2-story existing structure
• Construction: Vinyl siding; Stone foundation
• Exterior features: Concrete driveway; Porch; Enclosed porch; Rectangular residential lot with 42 x 200 dimensions; City street frontage

Interior

• Kitchen: Gas water heater (appliance present)
• Bedrooms: Total of 7 rooms (bedroom count not specified)
• Flooring: Hardwood; Varies
• Bathrooms: 2 full bathrooms; 1 main-level bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Hardwood and varied flooring throughout; Enclosed porch; See remarks for additional interior details; Full basement
• Laundry & utility: Basement utility space

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $25k.

Deal economics

• At list price, monthly cash flow is $814 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Cap rate 45.5% 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 $3k of equity ($172 loan paydown + $2k 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 $7k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 30y 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 $15k; list at $25k implies a 66% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $24,900

Questions for the listing agent

1. Built in 1904 — 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 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: 5.01% ✓
• Cap rate: 45.54%
• Cash-on-cash: 140.17%
• DSCR: 7.24
• GRM: 1.7

CMA / ARV

• ARV (on-the-fly): $133,826
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
539 Garden St	0.74mi	3/2.0	1,716 (+1%)	5mo	$135,000	$79	59

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: —
• Equity multiple: 10.39×
• Total profit: $65,449
• Equity at exit: $22,432

10-year hold

• IRR: —
• Equity multiple: 22.80×
• Total profit: $151,985
• Equity at exit: $48,375

Cash invested: $6,972 (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: 1.7×

Monthly cashflow live

• Estimated rent: $1,249 medium
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $374/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $814

Break-even live

Break-even rent $218

Max offer price $24,900

Occupancy floor 30%

Sensitivity live

Price	-10% $832	-5% $823	+0% $814	+5% $806	+10% $797
Rent	-10% $716	-5% $765	+0% $814	+5% $864	+10% $913
Rate	-1.0pp $827	-0.5pp $821	base $814	+0.5pp $808	+1.0pp $801

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: $6,225
• Closing costs: $747
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-14
   status $24,900 Pending 5 DOM
2. 2026-06-13
   days on market $24,900 Active 5 DOM
3. 2026-06-12
   statusdays on market $24,900 Active 4 DOM
4. 2026-06-07
   statusdays on market $24,900 Pending 2 DOM
5. 2026-06-04
   remarks 242-char remark
6. 2026-06-04
   listed $24,900 Active 1 DOM

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°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: $14,984
• − Mortgage interest: −$1,395
• − Property taxes: −$374
• − Insurance: −$124
• − Repairs & maintenance: −$1,199
• − Management: −$1,199
• − Depreciation: −$724
• Taxable income: $9,970
• Est. tax owed @ 24.0%: −$2,393
• After-tax cash flow: $7,380/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

-57.7% since first listed

25 events — show timeline

• 2026-06-03 Listed $24,900 CNYIS
• 2026-05-24 Listing Removed — CNYIS
• 2026-05-19 Listing Removed — CNYIS
• 2026-05-18 Listing Removed — CNYIS
• 2025-11-20 Pending — CNYIS
• 2025-11-13 Contingent — CNYIS
• 2025-09-25 Price Changed $29,400 CNYIS
• 2025-04-14 Price Changed $29,900 CNYIS
• 2025-03-28 Listed $39,900 CNYIS
• 2020-02-19 Sold (Public Records) $15,000 Public Records
• 2020-02-06 Sold (MLS) $15,000 Global MLS
• 2020-01-19 Listing Removed — Global MLS
• 2019-10-24 Listed $17,900 Global MLS
• 2019-06-08 Listed $17,000 Global MLS
• 2005-07-01 Sold (Public Records) $50,400 Public Records
• 2004-04-17 Listing Removed — CNYIS
• 2003-10-20 Listed $52,000 CNYIS
• 2003-04-25 Listing Removed — CNYIS
• 2001-11-30 Listed $49,900 CNYIS
• 2001-01-08 Listing Removed — CNYIS
• 2000-07-08 Listed $59,000 CNYIS
• 1996-11-14 Sold (Public Records) $50,000 Public Records
• 1996-11-14 Sold (MLS) $50,000 CNYIS
• 1996-06-02 Listed $52,500 CNYIS
• 1995-09-07 Sold (Public Records) $58,900 Public Records

Property tax history

+7.6%/yr

Latest (2025): $2,036 · +2.0% YoY. Source: county tax records.