114 S Litchfield St · Frankfort, NY 13340

$15,000

4 bd · 2.0 ba · 3,562 sqft · SingleFamily · 7 Days on market

Built 1955 5,481 sqft lot

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

Listing remarks

Spacious 2-family property located in the Village of Frankfort offering over 3,500 sq ft of potential. Each unit features 2 bedrooms and 1 bath, providing a strong layout for future rental income. Property is in need of significant repairs and updates, making it an ideal opportunity for investors, contractors, or rehab specialists looking to add value. Being sold as-is. Separate utilities already in place. Public water and sewer connected. Convenient location near Main Street and local amenities such as restaurants, bakery, post office, parks, schools and more!

Key facts

• 2 family property
• Separate utilities
• Convenient location

Tags

• 2 FAMILY PROPERTY
• STRONG LAYOUT
• SEPARATE UTILITIES
• PUBLIC WATER
• CONVENIENT LOCATION
• LOCAL AMENITIES

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $15k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $15k).

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 $2k of equity ($104 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 $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $15,000

Questions for the listing agent

1. Built in 1955 — 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: 13.51% ✓
• Cap rate: 126.06%
• Cash-on-cash: 427.73%
• DSCR: 20.03
• GRM: 0.6

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: —
• Equity multiple: 25.65×
• Total profit: $103,548
• Equity at exit: $13,513

10-year hold

• IRR: —
• Equity multiple: 55.76×
• Total profit: $230,011
• Equity at exit: $29,142

Cash invested: $4,200 (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: 0.6×

Monthly cashflow live

• Estimated rent: $2,026 medium
• Mortgage (P&I): −$79
• Tax est. 1.5%: −$19 /mo · $225/yr
• Insurance: −$6
• HOA: −$0
• Vacancy / Maint / Mgmt: −$426
• Net cashflow: $1,497

Break-even live

Break-even rent $131

Max offer price $15,000

Occupancy floor 21%

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: $3,750
• Closing costs: $450
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-04-08
   status Pending
2. 2026-04-01
   listed $15,000 Active
3. 2025-03-19
   price $24,999
4. 2025-03-03
   price $25,000
5. 2025-01-29
   price $34,999
6. 2025-01-08
   price $35,000
7. 2025-01-08
   listed $30,000 Active
8. 2024-12-26
   historical
9. 2024-12-17
   price $30,000
10. 2024-11-25
    status Active
11. 2024-11-18
    status Pending
12. 2024-11-04
    price $35,000
13. 2024-10-22
    historical
14. 2024-10-16
    listed $45,000 Active
15. 2024-04-05
    status Pending
16. 2024-03-04
    price $47,000
17. 2024-02-26
    price $55,000
18. 2024-02-15
    price $59,000
19. 2024-02-05
    listed $65,000 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: $24,315
• − Mortgage interest: −$840
• − Property taxes: −$225
• − Insurance: −$75
• − Repairs & maintenance: −$1,945
• − Management: −$1,945
• − Depreciation: −$436
• Taxable income: $18,848
• Est. tax owed @ 24.0%: −$4,523
• After-tax cash flow: $13,441/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

-76.9% since first listed

19 events — show timeline

• 2026-04-08 Pending — CNYIS
• 2026-04-01 Listed $15,000 CNYIS
• 2025-03-19 Price Changed $24,999 WNYREIS
• 2025-03-03 Price Changed $25,000 WNYREIS
• 2025-01-29 Price Changed $34,999 WNYREIS
• 2025-01-08 Price Changed $35,000 WNYREIS
• 2025-01-08 Listed $30,000 WNYREIS
• 2024-12-26 Listing Removed — WNYREIS
• 2024-12-17 Price Changed $30,000 WNYREIS
• 2024-11-25 Relisted — WNYREIS
• 2024-11-18 Pending — WNYREIS
• 2024-11-04 Price Changed $35,000 WNYREIS
• 2024-10-22 Listing Removed — WNYREIS
• 2024-10-16 Listed $45,000 WNYREIS
• 2024-04-05 Pending — WNYREIS
• 2024-03-04 Price Changed $47,000 WNYREIS
• 2024-02-26 Price Changed $55,000 WNYREIS
• 2024-02-15 Price Changed $59,000 WNYREIS
• 2024-02-05 Listed $65,000 WNYREIS