102 Lock St · Frankfort, NY 13340

$49,900

3 bd · 1.5 ba · 1,152 sqft · SingleFamily public records · 11 Days on market

Built 1900 3,049 sqft lot

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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 +3.3/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

The work is done on this three bedroom home. Move in and unpack your bags. First floor features lvr, dnr, new large eat in kitchen, half bath with laundry hookups along with a bdr. Upstairs 2 bdr and full bath. your choice electic or gas heat. New plumbing electric windows siding and so much more

Key facts

• Open floor plan
• First floor bedroom
• 3,049 sq ft lot

Tags

• OPEN FLOOR PLAN
• FIRST FLOOR BEDROOM
• PUBLIC SEWER AND WATER
• LOCATED NEAR THE MOHAWK RIVER

Property features AI

Exterior

• Parking: Two off-street driveway parking spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Entry level includes first and second floors
• Construction: Vinyl siding
• Exterior features: Lot roughly 0.07 acres with dimensions approximately 58.7 x 54

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: Two bedrooms on the second floor; One bedroom on the first floor
• Bathrooms: One full bathroom located on the second level; One half bathroom located on the first level
• Heating & cooling: Natural gas heating; Wall cooling unit(s)
• Interior features: Five total rooms; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $922 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).

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.
• 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 $5k of equity ($345 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 ~1 year — 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

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 14y 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: flood insurance adds $314/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $49,900

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 4.01% ✓
• Cap rate: 36.00%
• Cash-on-cash: 106.11%
• DSCR: 5.72
• GRM: 2.1

CMA / ARV

• ARV (on-the-fly): $150,912
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
105 Fox St	0.23mi	2/1.0 (-1)	1,232 (+7%)	19mo	$212,000	$172	54
3782 State Route 5	0.63mi	2/1.0 (-1)	1,090 (-5%)	7mo	$137,800	$126	48
411 Palmer St	0.60mi	3/1.0	1,128 (-2%)	24mo	$147,500	$131	46
108 W Canal St	0.08mi	2/1.0 (-1)	980 (-15%)	24mo	$150,000	$153	45
303 Palmer St	0.57mi	3/2.0	1,317 (+14%)	22mo	$120,000	$91	29

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: 89.3%
• Equity multiple: 7.16×
• Total profit: $86,107
• Equity at exit: $44,954

10-year hold

• IRR: 84.1%
• Equity multiple: 15.88×
• Total profit: $207,848
• Equity at exit: $96,945

Cash invested: $13,972 (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: 2.1×

Monthly cashflow live

• Estimated rent: $2,000 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $748/yr
• Insurance: −$21
• Flood insurance flood zone: −$314 /mo · $3,765/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $922

Break-even live

Break-even rent $834

Max offer price $49,900

Occupancy floor 49%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-19
   days on market $49,900 Active 11 DOM
2. 2026-06-18
   days on market $49,900 Active 10 DOM
3. 2026-06-17
   days on market $49,900 Active 9 DOM
4. 2026-06-16
   days on market $49,900 Active 8 DOM
5. 2026-06-15
   days on market $49,900 Active 7 DOM
6. 2026-06-14
   days on market $49,900 Active 5 DOM
7. 2026-06-13
   days on market $49,900 Active 4 DOM
8. 2026-06-10
   days on market $49,900 Active 2 DOM
9. 2026-06-09
   remarks 206-char remark
10. 2026-06-09
    listed $49,900 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone A · 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 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,005
• − Mortgage interest: −$2,795
• − Property taxes: −$748
• − Insurance: −$4,014
• − Repairs & maintenance: −$1,920
• − Management: −$1,920
• − Depreciation: −$1,452
• Taxable income: $11,155
• Est. tax owed @ 24.0%: −$2,677
• After-tax cash flow: $8,384/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

+84.8% since first listed

6 events — show timeline

• 2026-06-08 Listed $49,900 Global MLS
• 2012-11-09 Sold (MLS) $71,900 CNYIS
• 2012-06-02 Listed $71,900 CNYIS
• 2006-10-02 Sold (Public Records) $57,000 Public Records
• 2001-01-08 Sold (Public Records) $34,980 Public Records
• 2001-01-08 Sold (Public Records) $27,000 Public Records

Property tax history

+4.8%/yr

Latest (2025): $3,036 · +0.0% YoY. Source: county tax records.