206 S Litchfield St · Frankfort, NY 13340

$149,900

3 bd · 1.0 ba · 1,254 sqft · SingleFamily public records · 16 Days on market

Built 1930 3,549 sqft lot Est $157k · at est.

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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 +25.9/30.0
• Appreciation +10.0/10.0
• ARV discount +9.5/15.0
• DSCR +8.7/10.0
• 1% rule +8.3/10.0
• Schools +3.3/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Charming and affordable 3-bedroom, 1.5-bath home located in the Village of Frankfort! This well-maintained property offers over 1,250 square feet of living space featuring a first-floor bedroom, first-floor laundry, spacious living areas, and an eat-in kitchen. Exterior highlights include vinyl siding, a detached 2-stall garage, blacktop driveway, and a manageable village lot. Conveniently located near local amenities, schools, parks, and shopping. Whether you're a first-time homebuyer, downsizing, or looking to add to your investment portfolio, this property offers great value and potential. Easy access to major roadways for commuting. Don't miss this opportunity—schedule your showin

Key facts

• First floor laundry
• Eat in kitchen
• Vinyl siding

Tags

• FIRST FLOOR BEDROOM
• FIRST FLOOR LAUNDRY
• SPACIOUS LIVING AREAS
• EAT IN KITCHEN
• VINYL SIDING
• DETACHED GARAGE

Property features AI

Exterior

• Parking: Detached garage with electricity; 2-car garage
• Utilities: Electricity connected (circuit breakers); High-speed internet available; Public water connected; Sewer connected
• Home design: Single-story home; Resale property; Vinyl siding
• Construction: Vinyl siding construction; Stone foundation; Existing (built previously)
• Exterior features: Blacktop driveway; Rectangular residential lot; City street frontage; Lot dimensions approximately 63 x 56

Interior

• Kitchen: Gas oven; Gas range; Refrigerator
• Bedrooms: 1 bedroom on the main level
• Flooring: Carpet; Vinyl; Varies
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Gas forced air heating
• Interior features: Entrance foyer; Eat-in kitchen; Separate/formal living room; Other interior features (see remarks); Bedroom on main level; Full basement
• Laundry & utility: Main level laundry; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $369 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $148k (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.
• Zoned schools: Frankfort-Schuyler Elementary School (math 17% / reading 42%, grade F, #1,729 of 2,108 statewide, top 84%, 349 students, 48% FRL); Frankfort-Schuyler Middle School (math 17% / reading 52%, grade F, #483 of 729 statewide, top 68%, 210 students, 49% FRL); Frankfort-Schuyler Central High School (math 92%, 258 students, 45% FRL).
• 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 $16k of equity ($1k loan paydown + $15k 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 $42k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k 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 ($148k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $147,651 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.33% ✓
• Cap rate: 9.24%
• Cash-on-cash: 10.54%
• DSCR: 1.47
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $156,750
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
402 Palmer St	0.36mi	3/1.5	1,344 (+7%)	10mo	$175,000	$130	61
105 Fox St	0.35mi	2/1.0 (-1)	1,232 (-2%)	20mo	$212,000	$172	60
111 N Frankfort St	0.29mi	3/1.0	1,428 (+14%)	6mo	$79,500	$56	59
112 Pleasant Ave	0.10mi	3/1.5	1,409 (+12%)	19mo	$194,700	$138	57
403 S Litchfield St	0.20mi	3/1.0	1,370 (+9%)	24mo	$111,000	$81	56
303 Third Ave	0.40mi	3/1.5	1,344 (+7%)	19mo	$180,200	$134	51
303 Palmer St	0.38mi	3/2.0	1,317 (+5%)	22mo	$120,000	$91	51
303 Ingham Ave	0.72mi	2/1.0 (-1)	1,317 (+5%)	4mo	$55,000	$42	49
411 Palmer St	0.40mi	3/1.0	1,128 (-10%)	24mo	$147,500	$131	45
103 East Ave	0.51mi	3/2.0	1,418 (+13%)	7mo	$170,000	$120	45
126 8th Ave	0.56mi	3/1.5	1,408 (+12%)	9mo	$162,000	$115	44
136 E Orchard St	0.29mi	3/2.0	1,436 (+14%)	23mo	$180,000	$125	39

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: 32.0%
• Equity multiple: 3.51×
• Total profit: $105,257
• Equity at exit: $135,042

10-year hold

• IRR: 27.7%
• Equity multiple: 7.95×
• Total profit: $291,767
• Equity at exit: $291,223

Cash invested: $41,972 (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: 6.3×

Monthly cashflow live

• Estimated rent: $1,994 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$358 /mo · $4,292/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $369

Break-even live

Break-even rent $1,527

Max offer price $149,900

Occupancy floor 76%

Sensitivity live

Price	-10% $454	-5% $411	+0% $369	+5% $326	+10% $284
Rent	-10% $211	-5% $290	+0% $369	+5% $447	+10% $526
Rate	-1.0pp $444	-0.5pp $407	base $369	+0.5pp $330	+1.0pp $290

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-22
   days on market $149,900 Active 16 DOM
2. 2026-06-19
   days on market $149,900 Active 14 DOM
3. 2026-06-18
   days on market $149,900 Active 13 DOM
4. 2026-06-17
   days on market $149,900 Active 12 DOM
5. 2026-06-16
   days on market $149,900 Active 11 DOM
6. 2026-06-15
   days on market $149,900 Active 10 DOM
7. 2026-06-14
   days on market $149,900 Active 8 DOM
8. 2026-06-13
   days on market $149,900 Active 7 DOM
9. 2026-06-10
   days on market $149,900 Active 5 DOM
10. 2026-06-09
    days on market $149,900 Active 4 DOM
11. 2026-06-08
    days on market $149,900 Active 3 DOM
12. 2026-06-07
    remarks 693-char remark
13. 2026-06-07
    listed $149,900 Active 2 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: $4,292 · $358/mo
• Projected year-2 tax: $4,292 · $358/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 6/10 Major FEMA zone X · 70% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 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 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,922
• − Mortgage interest: −$8,397
• − Property taxes: −$4,292
• − Insurance: −$750
• − Repairs & maintenance: −$1,914
• − Management: −$1,914
• − Depreciation: −$4,361
• Taxable income: $2,296
• Est. tax owed @ 24.0%: −$551
• After-tax cash flow: $3,873/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

1 event — show timeline

• 2026-06-05 Listed $149,900 CNYIS

Property tax history

+2.2%/yr

Latest (2025): $4,292 · +0.0% YoY. Source: county tax records.