102 Diamond St · Little Falls, NY 13365

$15,000

6 bd · 2.0 ba · 3,122 sqft · MultiFamily public records · 9 Days on market

Built 1900 10,212 sqft lot ↓ 23% 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

Great property for the right investor. .. popular area with multi-family income properties. Could be a great addition to your portfolio.

Key facts

• 0.23 acre lot
• Built 1900
• Listed 9 days

Property features AI

Exterior

• Parking: No garage; No driveway
• Utilities: Public water connected; Sewer connected
• Home design: Two-story existing residence; Property described as resale fixer
• Construction: Stone foundation; Construction details referenced in remarks
• Exterior features: Irregular residential lot; 85 x 120 lot dimensions; City street frontage

Interior

• Kitchen: Water heater listed with appliances; other kitchen details referenced in remarks
• Bedrooms: Three main-level bedrooms
• Bathrooms: Two full bathrooms; One main-level bathroom
• Heating & cooling: Heating details referenced in remarks
• Interior features: Partial basement; Additional interior features noted in remarks
• Laundry & utility: Water heater

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $15k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $15k).
• Cap rate 89.1% 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: amenities F, commute F, employment 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.
• Zoned schools: Benton Hall Academy (math 37% / reading 47%, grade F, #1,361 of 2,108 statewide, top 67%, 479 students, 56% FRL); Little Falls Middle School (math 12% / reading 37%, grade F, #611 of 729 statewide, top 88%, 242 students, 61% FRL); Little Falls High School (math 87% / reading 77%, grade A, #452 of 1,100 statewide, top 44%, 331 students, 59% FRL) — zoned schools average 59% FRL vs 43% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• 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 $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 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 23y 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 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $15,000

Questions for the listing agent

1. Built in 1900 — 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: 9.61% ✓
• Cap rate: 89.08%
• Cash-on-cash: 295.67%
• DSCR: 14.16
• GRM: 0.9

CMA / ARV

• ARV (on-the-fly): $140,490
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
86 Prospect St	0.36mi	7/2.5 (+1)	3,508 (+12%)	18mo	$159,000	$45	40
598 E John St	0.40mi	6/3.5	3,549 (+14%)	19mo	$95,000	$27	37

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: 18.64×
• Total profit: $74,101
• Equity at exit: $13,513

10-year hold

• IRR: —
• Equity multiple: 40.63×
• Total profit: $166,428
• 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 13365

• Home prices YoY: 9.9%
• Active inventory: 66
• Price-to-rent: 0.9×

Monthly cashflow live

• Estimated rent: $1,441 medium
• Mortgage (P&I): −$79
• Tax est. 1.5%: −$19 /mo · $225/yr
• Insurance: −$6
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $1,035

Break-even live

Break-even rent $131

Max offer price $15,000

Occupancy floor 23%

Sensitivity live

Price	-10% $1,045	-5% $1,040	+0% $1,035	+5% $1,030	+10% $1,024
Rent	-10% $921	-5% $978	+0% $1,035	+5% $1,092	+10% $1,149
Rate	-1.0pp $1,042	-0.5pp $1,039	base $1,035	+0.5pp $1,031	+1.0pp $1,027

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 18 events

1. 2026-06-07
   statusdays on market $15,000 Pending 9 DOM
2. 2026-06-07
   days on market $15,000 Active 8 DOM
3. 2026-06-04
   days on market $15,000 Active 5 DOM
4. 2026-06-02
   days on market $15,000 Active 4 DOM
5. 2026-06-01
   days on market $15,000 Active 3 DOM
6. 2026-05-31
   days on market $15,000 Active 2 DOM
7. 2026-05-27
   listed $15,000 Active
8. 2026-05-26
   historical
9. 2026-04-30
   historical
10. 2026-03-26
    listed $20,000 Active
11. 2026-03-26
    historical
12. 2026-03-24
    price $20,000
13. 2026-03-03
    price $25,000
14. 2025-09-25
    price $34,500
15. 2025-06-13
    price $35,000
16. 2025-03-28
    listed $40,000 Active
17. 2004-04-07
    historical
18. 2003-11-24
    listed $19,500

ⓘ 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 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥95°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: $17,294
• − Mortgage interest: −$840
• − Property taxes: −$225
• − Insurance: −$75
• − Repairs & maintenance: −$1,384
• − Management: −$1,384
• − Depreciation: −$436
• Taxable income: $12,950
• Est. tax owed @ 24.0%: −$3,108
• After-tax cash flow: $9,310/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

-23.1% since first listed

12 events — show timeline

• 2026-05-27 Listed $15,000 CNYIS
• 2026-05-26 Listing Removed — CNYIS
• 2026-04-30 Listing Removed — CNYIS
• 2026-03-26 Listing Removed — CNYIS
• 2026-03-26 Listed $20,000 CNYIS
• 2026-03-24 Price Changed $20,000 CNYIS
• 2026-03-03 Price Changed $25,000 CNYIS
• 2025-09-25 Price Changed $34,500 CNYIS
• 2025-06-13 Price Changed $35,000 CNYIS
• 2025-03-28 Listed $40,000 CNYIS
• 2004-04-07 Listing Removed — CNYIS
• 2003-11-24 Listed $19,500 CNYIS

Property tax history

+1.6%/yr

Latest (2025): $2,576 · +2.0% YoY. Source: county tax records.