92 Furnace St · Little Falls, NY 13365

$34,900

2 bd · 1.0 ba · 1,044 sqft · SingleFamily public records · 271 Days on market

Built 1900 6,098 sqft lot ↓ 58% since listing

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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

Affordable & Full of Potential! This 3-bedroom, 1-bath home sits on a corner lot in Little Falls and is loaded with potential. Spacious layout, covered front porch, and a convenient location close to shopping, schools, and amenities. Perfect for buyers looking to renovate, rent, or flip—bring your vision and unlock the value here! Opportunities like this don't last—schedule your showing today!

Key facts

• Covered front porch
• Convenient location
• Corner lot

Tags

• CORNER LOT
• COVERED FRONT PORCH
• CONVENIENT LOCATION

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Living areas on multiple levels
• Construction: Vinyl siding exterior
• Exterior features: Corner lot (directions: Corner of Furnance/Skinner); Lot dimensions approximately 30 x 145 x 60 x 144

Interior

• Kitchen: Kitchen on the first level
• Bedrooms: Bedroom on second level; Bedroom on second level; Bedroom on third level
• Bathrooms: One full bathroom (located on the first level)
• Heating & cooling: Forced air heating
• Interior features: Six total rooms; Unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $423 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($979 rent vs $35k).
• Recommended offer: $31k (12.0% below list) — sets the bar for market timing.
• Cap rate 22.7% 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 $4k of equity ($241 loan paydown + $3k 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 $10k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 271 days — a 12% lower offer ($31k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $49k (58%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $30,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 271 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 2.81% ✓
• Cap rate: 22.74%
• Cash-on-cash: 58.74%
• DSCR: 3.61
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $107,532
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13 Lewis St	0.25mi	2/1.0	1,092 (+5%)	9mo	$135,000	$124	73
45 Lewis St	0.35mi	2/1.0	940 (-10%)	10mo	$82,000	$87	59
354 W Monroe St	0.61mi	1/2.0 (-1)	1,000 (-4%)	8mo	$24,000	$24	49
30 Sherman St	0.36mi	3/1.0 (+1)	888 (-15%)	11mo	$105,000	$118	44
21 Summit Ave	0.51mi	3/1.0 (+1)	1,141 (+9%)	24mo	$117,000	$103	36

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: 65.3%
• Equity multiple: 5.71×
• Total profit: $46,018
• Equity at exit: $31,441

10-year hold

• IRR: 58.9%
• Equity multiple: 12.72×
• Total profit: $114,502
• Equity at exit: $67,803

Cash invested: $9,772 (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: 3.0×

Monthly cashflow live

• Estimated rent: $979 medium
• Mortgage (P&I): −$183
• Tax from tax record: −$98 /mo · $1,171/yr
• Insurance: −$15
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$206
• Net cashflow: $423

Break-even live

Break-even rent $444

Max offer price $34,900

Occupancy floor 52%

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: $8,725
• Closing costs: $1,047
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-05-31
   status $34,900 Pending 271 DOM
2. 2026-05-23
   status Active
3. 2026-05-14
   status Pending
4. 2026-04-15
   price $34,900
5. 2026-02-12
   price $44,900
6. 2026-02-12
   price $449,000
7. 2026-02-12
   status Active
8. 2026-02-10
   historical
9. 2025-12-03
   price $49,900
10. 2025-11-18
    status Active
11. 2025-11-13
    historical
12. 2025-10-28
    price $59,900
13. 2025-09-22
    price $74,900
14. 2025-08-13
    listed $84,000 Active

ⓘ 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: $1,171 · $98/mo
• Projected year-2 tax: $1,171 · $98/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 8/10 Severe FEMA zone X · 99% 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: $11,749
• − Mortgage interest: −$1,955
• − Property taxes: −$1,171
• − Insurance: −$841
• − Repairs & maintenance: −$940
• − Management: −$940
• − Depreciation: −$1,015
• Taxable income: $4,887
• Est. tax owed @ 24.0%: −$1,173
• After-tax cash flow: $3,901/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

-58.5% since first listed

13 events — show timeline

• 2026-05-23 Relisted — Global MLS
• 2026-05-14 Pending — Global MLS
• 2026-04-15 Price Changed $34,900 Global MLS
• 2026-02-12 Price Changed $44,900 Global MLS
• 2026-02-12 Price Changed $449,000 Global MLS
• 2026-02-12 Relisted — Global MLS
• 2026-02-10 Listing Removed — Global MLS
• 2025-12-03 Price Changed $49,900 Global MLS
• 2025-11-18 Relisted — Global MLS
• 2025-11-13 Listing Removed — Global MLS
• 2025-10-28 Price Changed $59,900 Global MLS
• 2025-09-22 Price Changed $74,900 Global MLS
• 2025-08-13 Listed $84,000 Global MLS

Property tax history

+18.4%/yr

Latest (2025): $1,171 · +2.0% YoY. Source: county tax records.