1352 State Route 29 · Salisbury Center, NY 13365

$99,900

2 bd · 1.0 ba · 840 sqft · Manufactured public records · 67 Days on market

Built 1976 3.00 ac 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 +16.3/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.1/10.0
• Schools +4.8/10.0
• 1% rule +3.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Discover the perfect blend of privacy and convenience with this 3-acre property located right along State Route 29 in Little Falls, NY. Surrounded by mature trees and greenery, this home offers a peaceful country setting while keeping you just minutes from town amenities, shopping, and easy commuter routes. The home provides a functional layout with a spacious kitchen, dining area, two bedrooms, and a full bath. A wood stove adds rustic charm and supplemental heat, while large windows invite natural light into the living spaces. The kitchen features tile flooring, ample cabinet storage, and direct access to the outdoors. Step outside to enjoy the quiet grounds, where a tree-lined perimeter creates a natural buffer and sense of seclusion. The expansive yard provides plenty of room for gardening, outdoor activities, or simply soaking up the fresh country air. With 3 acres of land, there’s potential to expand, build outbuildings, or craft the homestead of your dreams. Whether you’re seeking an affordable primary residence, a country retreat, or an investment property with room to grow, this Little Falls opportunity is worth exploring

Key facts

• Large windows
• Wood stove
• Expansive yard

Tags

• 3 ACRE PROPERTY
• WOOD STOVE
• TILE FLOORING
• LARGE WINDOWS
• TREE LINED PERIMETER
• EXPANSIVE YARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $55 ($665/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $88k (11.7% below list).
• Recommended offer: $88k (11.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• West Canada Valley Central School District (rural): math 54% / reading 57% proficiency, ranked #296 of 590 in NY (top 50%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• 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 $11k of equity ($691 loan paydown + $10k 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 $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $10k; list at $100k implies a 919% gain — meaningful room to come down on a strong offer.

Recommended offer $88,239 (11.7% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 0.88% ✗
• Cap rate: 6.96%
• Cash-on-cash: 2.38%
• DSCR: 1.11
• GRM: 9.4

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: 26.0%
• Equity multiple: 3.07×
• Total profit: $57,922
• Equity at exit: $89,998

10-year hold

• IRR: 22.8%
• Equity multiple: 7.00×
• Total profit: $167,761
• Equity at exit: $194,084

Cash invested: $27,972 (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 13365

• Home prices YoY: 9.9%
• Active inventory: 66
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $882 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$76 /mo · $914/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$185
• Net cashflow: $55

Break-even live

Break-even rent $812

Max offer price $99,900

Occupancy floor 89%

Sensitivity live

Price	-10% $112	-5% $84	+0% $55	+5% $27	+10% $-1
Rent	-10% $-14	-5% $21	+0% $55	+5% $90	+10% $125
Rate	-1.0pp $106	-0.5pp $81	base $55	+0.5pp $30	+1.0pp $3

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $99,900 Active 67 DOM
2. 2026-06-18
   days on market $99,900 Active 66 DOM
3. 2026-06-17
   days on market $99,900 Active 65 DOM
4. 2026-06-16
   days on market $99,900 Active 64 DOM
5. 2026-06-15
   days on market $99,900 Active 63 DOM
6. 2026-06-14
   days on market $99,900 Active 61 DOM
7. 2026-06-13
   days on market $99,900 Active 60 DOM
8. 2026-06-10
   days on market $99,900 Active 58 DOM
9. 2026-06-09
   days on market $99,900 Active 57 DOM
10. 2026-06-08
    days on market $99,900 Active 56 DOM
11. 2026-06-07
    days on market $99,900 Active 55 DOM
12. 2026-06-05
    days on market $99,900 Active 52 DOM
13. 2026-06-02
    days on market $99,900 Active 50 DOM
14. 2026-06-01
    days on market $99,900 Active 49 DOM
15. 2026-05-31
    days on market $99,900 Active 48 DOM
16. 2026-05-30
    days on market $99,900 Active 47 DOM
17. 2026-04-13
    listed $99,900 Active 1160-char remark

    Show marketing remark (1160 chars)

    Discover the perfect blend of privacy and convenience with this 3-acre property located right along State Route 29 in Little Falls, NY. Surrounded by mature trees and greenery, this home offers a peaceful country setting while keeping you just minutes from town amenities, shopping, and easy commuter routes. The home provides a functional layout with a spacious kitchen, dining area, two bedrooms, and a full bath. A wood stove adds rustic charm and supplemental heat, while large windows invite natural light into the living spaces. The kitchen features tile flooring, ample cabinet storage, and direct access to the outdoors. Step outside to enjoy the quiet grounds, where a tree-lined perimeter creates a natural buffer and sense of seclusion. The expansive yard provides plenty of room for gardening, outdoor activities, or simply soaking up the fresh country air. With 3 acres of land, there’s potential to expand, build outbuildings, or craft the homestead of your dreams. Whether you’re seeking an affordable primary residence, a country retreat, or an investment property with room to grow, this Little Falls opportunity is worth exploring

18. 2025-09-13
    listed $115,000 Active
19. 1994-06-08
    soldstatus $9,800

ⓘ 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: $914 · $76/mo
• Projected year-2 tax: $1,301 · $108/mo
• Expected delta: +$387/yr (+$32/mo · 42.4%)

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

Taxation est. · year 1

• Rental income: $10,589
• − Mortgage interest: −$5,596
• − Property taxes: −$914
• − Insurance: −$500
• − Repairs & maintenance: −$847
• − Management: −$847
• − Depreciation: −$2,906
• Taxable loss: −$1,021
• Est. tax savings @ 24.0%: +$245
• After-tax cash flow: $910/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: West Canada Valley Central School District
• NCES district ID: 3630600
• Math proficiency: 54% ▼ -6.00%
• Reading proficiency: 57% ▲ 13.00%
• Median HH income: $54,416
• Composite: 47.76/100
• National rank: #2232
• State rank: #296 of 590 in NY

Livability — Salisbury Center

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• 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

+919.4% since first listed

3 events — show timeline

• 2026-04-13 Listed $99,900 CNYIS
• 2025-09-13 Listed $115,000 CNYIS
• 1994-06-08 Sold (Public Records) $9,800 Public Records

Property tax history

-5.0%/yr

Latest (2025): $914 · -1.5% YoY. Source: county tax records.