610-612 E Monroe St · Little Falls, NY 13365

$169,900

6 bd · 2.0 ba · 2,966 sqft · MultiFamily public records · 7 Days on market

Built 1875 0.32 ac lot

---

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
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.2/10.0
• ARV discount +7.5/15.0
• 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: 2 units. confirmed

Listing remarks

Welcome to 610 E Monroe Street in Little Falls—a rare opportunity to own a spacious and character-filled two-family property offering nearly 3,000 square feet of living space. Built in 1875, this classic home showcases timeless architectural details, soaring ceilings, oversized rooms, and the charm that only a historic property can provide. Each unit offers generous living areas, its own kitchen, full bathroom, and ample bedroom space, making this an ideal opportunity for investors, owner-occupants, or multi-generational living. With a total of 6 bedrooms and 2 full bathrooms across two expansive floors, the flexible layout provides endless possibilities for rental income or personal

Key facts

• Paved parking area
• Historic property
• Full basement

Tags

• HISTORIC PROPERTY
• HARDWOOD FLOORS
• ENCLOSED FRONT PORCH
• FULL BASEMENT
• DETACHED GARAGE
• PAVED PARKING AREA

Property features AI

Finance

• Financial info: Operating expense details: see remarks; Owner pays: other (see remarks); Rent includes: see remarks

Exterior

• Parking: Garage available
• Utilities: Public water connected; Sewer connected
• Home design: Two-story building; Resale property; Vinyl siding exterior
• Construction: Vinyl siding construction; Existing structure
• Exterior features: Rectangular residential lot; City street frontage; Paved and on-street parking available; Common parking area

Interior

• Kitchen: Electric water heater (appliance listed)
• Bedrooms: Multi-unit property with 2 total units
• Flooring: Hardwood; Vinyl; Varies
• Bathrooms: Two full bathrooms (total)
• Heating & cooling: Gas forced-air heating
• Interior features: Hardwood and vinyl flooring with varying floor materials throughout; Full basement
• Laundry & utility: Separate gas meters for each unit; Separate electric meters for each unit

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $170k.

Deal economics

• At list price, monthly cash flow is $708 ($9k/yr) — positive. Per door: $354/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Cap rate 11.3% 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 $18k of equity ($1k loan paydown + $17k 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 $48k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1875 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $169,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1875 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.42% ✓
• Cap rate: 11.30%
• Cash-on-cash: 17.87%
• DSCR: 1.80
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $91,946
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
198 Burwell St	0.58mi	6/3.0	3,196 (+8%)	15mo	$100,000	$31	43

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: 37.6%
• Equity multiple: 3.89×
• Total profit: $137,709
• Equity at exit: $153,059

10-year hold

• IRR: 32.4%
• Equity multiple: 8.78×
• Total profit: $370,147
• Equity at exit: $330,078

Cash invested: $47,572 (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: 11.7×

Monthly cashflow live

• Estimated rent: $2,415 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$238 /mo · $2,851/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$507
• Net cashflow: $708

Break-even live

Break-even rent $1,518

Max offer price $169,900

Occupancy floor 66%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,414
Total (2 units)			$2,415

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-09
   statusdays on market $169,900 Pending 7 DOM
2. 2026-06-08
   days on market $169,900 Active 6 DOM
3. 2026-06-07
   days on market $169,900 Active 5 DOM
4. 2026-06-07
   days on market $169,900 Active 4 DOM
5. 2026-06-03
   remarks 693-char remark
6. 2026-06-03
   listed $169,900 Active 1 DOM

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

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $2,851 · $238/mo
• Projected year-2 tax: $2,861 · $238/mo
• Expected delta: +$10/yr (+$1/mo · 0.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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: $28,980
• − Mortgage interest: −$9,517
• − Property taxes: −$2,851
• − Insurance: −$850
• − Repairs & maintenance: −$2,318
• − Management: −$2,318
• − Depreciation: −$4,943
• Taxable income: $6,183
• Est. tax owed @ 24.0%: −$1,484
• After-tax cash flow: $7,018/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

1 event — show timeline

• 2026-06-02 Listed $169,900 CNYIS

Property tax history

+12.3%/yr

Latest (2025): $2,851 · +2.0% YoY. Source: county tax records.