247 Loomis St · Little Falls, NY 13365

$50,000

6 bd · 1.0 ba · 1,404 sqft · SingleFamily public records · 328 Days on market

Built 1900 7,250 sqft lot $36/sqft · 66% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 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

Listing remarks MLS

This is your opportunity to take a head start on a renovation project with tremendous potential. Located on a quiet street in Little Falls, this spacious two-story home at 247 Loomis Street offers a solid foundation for transformation — with key exterior updates already complete. The current owner has taken care of the hard part outside: the home features brand new siding in a vibrant blue hue and a freshly built front porch with wooden railings and steps. The curb appeal is well on its way with a classic shape and updated, clean facade. The home is currently mid-renovation and awaits your finishing touches. Several updates are already in progress, including newly installed drywall and rough framing. Original wood beams, visible throughout, give the home authentic character and charm. What makes this listing especially attractive to investors or DIY enthusiasts: all materials and supplies currently inside the home will convey with the sale. Whether you're looking for a project to flip, a future dream home, or an income property, 247 Loomis Street is a prime candidate. With the exterior already taken care of, you can focus your energy and budget on customizing the interior to your exact taste or specifications. Don’t miss this chance to create something special — with much of the heavy lifting already done.

Key facts

• Original wood beams
• New siding
• Front porch

Tags

• NEW SIDING
• FRONT PORCH
• ORIGINAL WOOD BEAMS
• KEY EXTERIOR UPDATES
• NEWLY INSTALLED DRYWALL

What this means for you Summary

Snapshot

• This is a 6-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $667 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 22.3% 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 $5k of equity ($346 loan paydown + $5k 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 $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 328 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 17y ago; this cycle's ask has dropped $15k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $14k; list at $50k implies a 245% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $44,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 328 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 2.71% ✓
• Cap rate: 22.30%
• Cash-on-cash: 57.18%
• DSCR: 3.54
• GRM: 3.1

CMA / ARV

• ARV (median comp): $144,968
• List price: $50,000
• Delta: -65.51%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
209 Loomis St	0.09mi	5/2.0 (-1)	1,512 (+8%)	24mo	$170,000	$112	54

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: 69.8%
• Equity multiple: 5.98×
• Total profit: $69,775
• Equity at exit: $45,044

10-year hold

• IRR: 63.5%
• Equity multiple: 13.30×
• Total profit: $172,173
• Equity at exit: $97,139

Cash invested: $14,000 (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: 3.1×

Monthly cashflow live

• Estimated rent: $1,353 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$119 /mo · $1,426/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $667

Break-even live

Break-even rent $509

Max offer price $50,000

Occupancy floor 46%

Sensitivity live

Price	-10% $695	-5% $681	+0% $667	+5% $653	+10% $639
Rent	-10% $560	-5% $614	+0% $667	+5% $721	+10% $774
Rate	-1.0pp $692	-0.5pp $680	base $667	+0.5pp $654	+1.0pp $641

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-21
   days on market $50,000 Active 328 DOM
2. 2026-06-21
   days on market $50,000 Active 327 DOM
3. 2026-06-18
   days on market $50,000 Active 325 DOM
4. 2026-06-17
   days on market $50,000 Active 324 DOM
5. 2026-06-16
   days on market $50,000 Active 323 DOM
6. 2026-06-16
   price $50,000 Active 322 DOM
7. 2026-06-15
   days on market $55,000 Active 322 DOM
8. 2026-06-13
   days on market $55,000 Active 320 DOM
9. 2026-06-12
   days on market $55,000 Active 319 DOM
10. 2026-06-09
    days on market $55,000 Active 316 DOM
11. 2026-06-08
    days on market $55,000 Active 315 DOM
12. 2026-06-07
    days on market $55,000 Active 314 DOM
13. 2026-06-07
    days on market $55,000 Active 313 DOM
14. 2026-06-04
    days on market $55,000 Active 310 DOM
15. 2026-06-02
    days on market $55,000 Active 309 DOM
16. 2026-06-01
    days on market $55,000 Active 308 DOM
17. 2026-05-31
    days on market $55,000 Active 307 DOM
18. 2026-01-05
    price $55,000 1345-char remark

    Show marketing remark (1345 chars)

    This is your opportunity to take a head start on a renovation project with tremendous potential. Located on a quiet street in Little Falls, this spacious two-story home at 247 Loomis Street offers a solid foundation for transformation — with key exterior updates already complete. The current owner has taken care of the hard part outside: the home features brand new siding in a vibrant blue hue and a freshly built front porch with wooden railings and steps. The curb appeal is well on its way with a classic shape and updated, clean facade. The home is currently mid-renovation and awaits your finishing touches. Several updates are already in progress, including newly installed drywall and rough framing. Original wood beams, visible throughout, give the home authentic character and charm. What makes this listing especially attractive to investors or DIY enthusiasts: all materials and supplies currently inside the home will convey with the sale. Whether you're looking for a project to flip, a future dream home, or an income property, 247 Loomis Street is a prime candidate. With the exterior already taken care of, you can focus your energy and budget on customizing the interior to your exact taste or specifications. Don’t miss this chance to create something special — with much of the heavy lifting already done.

19. 2025-07-28
    listed $65,000 Active 1345-char remark

    Show marketing remark (1345 chars)

    This is your opportunity to take a head start on a renovation project with tremendous potential. Located on a quiet street in Little Falls, this spacious two-story home at 247 Loomis Street offers a solid foundation for transformation — with key exterior updates already complete. The current owner has taken care of the hard part outside: the home features brand new siding in a vibrant blue hue and a freshly built front porch with wooden railings and steps. The curb appeal is well on its way with a classic shape and updated, clean facade. The home is currently mid-renovation and awaits your finishing touches. Several updates are already in progress, including newly installed drywall and rough framing. Original wood beams, visible throughout, give the home authentic character and charm. What makes this listing especially attractive to investors or DIY enthusiasts: all materials and supplies currently inside the home will convey with the sale. Whether you're looking for a project to flip, a future dream home, or an income property, 247 Loomis Street is a prime candidate. With the exterior already taken care of, you can focus your energy and budget on customizing the interior to your exact taste or specifications. Don’t miss this chance to create something special — with much of the heavy lifting already done.

20. 2024-06-09
    soldstatus $14,500 Closed
21. 2024-01-12
    status Pending
22. 2023-07-20
    status Under Contract- Do Not Show
23. 2023-03-27
    price $20,500
24. 2023-03-23
    listed $23,000 Active
25. 2022-04-04
    status Under Contract- Do Not Show
26. 2022-04-04
    historical
27. 2022-03-08
    listed $23,000 Active
28. 2022-03-06
    historical
29. 2022-01-19
    price $23,000
30. 2021-10-06
    listed $32,000 Active
31. 2010-03-26
    soldstatus $7,500
32. 2009-11-11
    listed $9,999

ⓘ 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: $1,426 · $119/mo
• Projected year-2 tax: $1,426 · $119/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 1/10 Low FEMA zone X · 0% 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,237
• − Mortgage interest: −$2,801
• − Property taxes: −$1,426
• − Insurance: −$250
• − Repairs & maintenance: −$1,299
• − Management: −$1,299
• − Depreciation: −$1,455
• Taxable income: $7,708
• Est. tax owed @ 24.0%: −$1,850
• After-tax cash flow: $6,155/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

+450.1% since first listed

15 events — show timeline

• 2026-01-05 Price Changed $55,000 CNYIS
• 2025-07-28 Listed $65,000 CNYIS
• 2024-06-09 Sold (MLS) $14,500 CNYIS
• 2024-01-12 Pending — CNYIS
• 2023-07-20 Pending — CNYIS
• 2023-03-27 Price Changed $20,500 CNYIS
• 2023-03-23 Listed $23,000 CNYIS
• 2022-04-04 Pending — CNYIS
• 2022-04-04 Listing Removed — CNYIS
• 2022-03-08 Listed $23,000 CNYIS
• 2022-03-06 Listing Removed — CNYIS
• 2022-01-19 Price Changed $23,000 CNYIS
• 2021-10-06 Listed $32,000 CNYIS
• 2010-03-26 Sold (MLS) $7,500 CNYIS
• 2009-11-11 Listed $9,999 CNYIS

Property tax history

+1.6%/yr

Latest (2025): $1,426 · +2.0% YoY. Source: county tax records.