105 N Frankfort St #2 · Frankfort, NY 13340

$74,900

3 bd · 2.0 ba · 1,711 sqft · Condo public records · 16 Days on market

Built 1900

---

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 +7.5/15.0
• Schools +3.3/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

If you are looking with a clean slate, this is your chance. Fully gutted with some new electrical installed. Utilize the open lay out to design it to how you want it. Could be a 2 unit or a a single family. The choice is yours.

Key facts

• 1,815 sq ft lot
• 2 parking spots
• Built 1900

Property features AI

Finance

• Financial info: Tenant pays all utilities; Property contains 2 total units with separate gas and electric meters for each unit; Operating expense details: see remarks

Exterior

• Parking: Two or more parking spaces
• Utilities: Public water connected; Sewer connected
• Home design: 2-story building; Resale property; Vinyl siding exterior
• Construction: Vinyl siding construction
• Exterior features: Rectangular lot with 33 x 55 dimensions; Frontage on a main thoroughfare

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $75k.

Deal economics

• At list price, monthly cash flow is $817 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $74k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#648 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety C-, amenities F, commute F.
• 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; 54 units permitted in Herkimer County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($518 loan paydown + $7k 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 $21k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y 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 $42k; list at $75k implies a 76% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $73,776 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 2.58% ✓
• Cap rate: 20.28%
• Cash-on-cash: 49.94%
• DSCR: 3.22
• GRM: 3.2

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: 60.9%
• Equity multiple: 5.43×
• Total profit: $92,985
• Equity at exit: $67,476

10-year hold

• IRR: 54.5%
• Equity multiple: 12.12×
• Total profit: $233,187
• Equity at exit: $145,514

Cash invested: $20,972 (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 13340

• Home prices YoY: 8.1%
• Active inventory: 40
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,930 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$228 /mo · $2,733/yr
• Insurance: −$31
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $817

Break-even live

Break-even rent $895

Max offer price $74,900

Occupancy floor 53%

Sensitivity live

Price	-10% $860	-5% $838	+0% $817	+5% $796	+10% $775
Rent	-10% $665	-5% $741	+0% $817	+5% $893	+10% $970
Rate	-1.0pp $855	-0.5pp $836	base $817	+0.5pp $798	+1.0pp $778

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: electric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-19
   days on market $74,900 Active 16 DOM
2. 2026-06-18
   days on market $74,900 Active 15 DOM
3. 2026-06-17
   days on market $74,900 Active 14 DOM
4. 2026-06-16
   days on market $74,900 Active 13 DOM
5. 2026-06-15
   days on market $74,900 Active 12 DOM
6. 2026-06-14
   days on market $74,900 Active 10 DOM
7. 2026-06-13
   days on market $74,900 Active 9 DOM
8. 2026-06-10
   days on market $74,900 Active 7 DOM
9. 2026-06-09
   days on market $74,900 Active 6 DOM
10. 2026-06-08
    days on market $74,900 Active 5 DOM
11. 2026-06-07
    remarks 227-char remark
12. 2026-06-07
    listed $74,900 Active 4 DOM

ⓘ 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: $2,733 · $228/mo
• Projected year-2 tax: $2,733 · $228/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 7/10 Severe FEMA zone X · 99% 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: $23,157
• − Mortgage interest: −$4,196
• − Property taxes: −$2,733
• − Insurance: −$1,041
• − Repairs & maintenance: −$1,853
• − Management: −$1,853
• − Depreciation: −$2,179
• Taxable income: $9,303
• Est. tax owed @ 24.0%: −$2,233
• After-tax cash flow: $7,574/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 — Frankfort

• Score: 66/100
• State rank: #648
• US rank: #12129

Category grades

Amenities F Commute F Cost of living A+ Crime A- Employment D- Housing A+ Health & safety C- User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Frankfort, NY
• 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

+276.4% since first listed

10 events — show timeline

• 2026-06-03 Listed $74,900 CNYIS
• 2025-06-25 Listing Removed — CNYIS
• 2025-06-14 Listing Removed — CNYIS
• 2025-06-13 Listed $75,000 CNYIS
• 2025-06-13 Listed $75,000 CNYIS
• 2024-12-10 Sold (Public Records) $42,500 Public Records
• 2016-05-20 Sold (MLS) $13,500 CNYIS
• 2016-02-13 Listed $16,900 CNYIS
• 2006-04-04 Sold (Public Records) $31,930 Public Records
• 2004-08-13 Sold (Public Records) $19,900 Public Records

Property tax history

+2.2%/yr

Latest (2025): $2,733 · +0.0% YoY. Source: county tax records.